XML 54 R33.htm IDEA: XBRL DOCUMENT v3.25.4
Summary of Significant Accounting Policies and Other Items (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Reconciliation of Cash, Cash Equivalents, and Restricted Cash
The following table provides a reconciliation of the amounts presented in the consolidated balance sheets to the total amounts shown in the consolidated statements of cash flows:
December 31,
202520242023
Cash and cash equivalents
$123,571 $342,843 $133,792 
Restricted cash
371,011 — — 
Total cash, cash equivalents and restricted cash
$494,582 $342,843 $133,792 
Summary of Reconciliation of Cash, Cash Equivalents, and Restricted Cash
The following table provides a reconciliation of the amounts presented in the consolidated balance sheets to the total amounts shown in the consolidated statements of cash flows:
December 31,
202520242023
Cash and cash equivalents
$123,571 $342,843 $133,792 
Restricted cash
371,011 — — 
Total cash, cash equivalents and restricted cash
$494,582 $342,843 $133,792 
Schedule of Allowance for Credit Losses The following is a roll forward of our allowance for credit losses:
 Balance at Beginning of PeriodExpenseWrite off
Other
Balance at End of Period
Year Ended December 31, 2025$3,779 $1,211 $(502)$6 $4,494 
Year Ended December 31, 20243,642 370 (254)21 3,779 
Year Ended December 31, 20231,060 2,622 (36)(4)3,642 
Schedule of Inventory Reserve The following is a roll forward of our inventory obsolescence reserve:
 Balance at Beginning of PeriodExpense Write offTranslation AdjustmentsBalance at End of Period
Year Ended December 31, 2025$28,048 $3,163 $(226)$129 $31,114 
Year Ended December 31, 202425,638 3,841 (1,285)(146)28,048 
Year Ended December 31, 202320,488 5,337 (193)6 25,638 
Schedule of Estimated Useful Lives and Property and Equipment Estimated useful lives are as follows:
LandN/A
Buildings and improvements5-30years
Machinery and equipment3-20years
Reels and skids10-20years
Vehicles3-5years
Rental equipment2-11years
Furniture and fixtures5years
Computers and software3-7years
Property and equipment as of December 31, 2025 and 2024 consists of the following:
 December 31,
 20252024
Land$16,442 $16,442 
Buildings and improvements135,957 133,187 
Machinery and equipment156,467 139,605 
Reels and skids21,480 18,737 
Vehicles39,621 41,175 
Rental equipment233,331 222,975 
Furniture and fixtures2,021 1,905 
Computers and software11,953 4,919 
Gross property and equipment617,272 578,945 
Less: Accumulated depreciation(297,505)(262,198)
Net property and equipment319,767 316,747 
Construction in progress22,825 29,261 
Total property and equipment, net$342,592 $346,008 
Schedule of Depreciation and Amortization Expense Depreciation and amortization expense is included in the consolidated statements of income as follows:
 Year Ended December 31,
 202520242023
Cost of product revenue$17,639 $16,287 $13,762 
Cost of rental revenue17,486 16,634 20,191 
Cost of field service and other revenue11,079 10,604 9,786 
Selling, general and administrative expenses17,710 16,913 21,306 
Total depreciation and amortization$63,914 $60,438 $65,045 
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities as of December 31, 2025 and 2024 are as follows:
 December 31,
 20252024
Accrued professional fees and other$14,130 $11,385 
Payroll, incentive compensation, payroll taxes and benefits12,609 13,925 
Accrued international freight and tariffs9,540 4,988 
Deferred revenue7,707 8,069 
Customer deposits6,116 6,512 
Taxes other than income3,455 4,045 
Income based tax payable2,497 24,112 
Product warranties1,801 1,493 
Accrued dividends1,240 887 
Total accrued expenses and other current liabilities$59,095 $75,416