Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Summarized Financial Information by Segment

Financial information by business segment for the three months ended March 31, 2025 and 2024 is summarized below.

	Three Months Ended March 31,
	2025
	Pressure Control		Spoolable Technologies		Total
Revenues from external customers	$	187,741	$	92,578	$	280,319
Intersegment revenue	2,536		—		2,536
Total revenues	190,277		92,578		282,855
Reconciliation of revenue
Elimination of intersegment revenue					(2,536)
Total consolidated revenues					280,319
Less:(1)
Cost of revenue from external customers	$	116,246	$	56,335	172,581
Intersegment cost of revenue	2,226		—		2,226
Total cost of revenues	118,472		56,335		174,807
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue					(2,226)
Total consolidated cost of revenue					172,581
Selling, general, administrative expenses and other (2)	17,472		12,367
Segment profit	$	54,333	$	23,876	$	78,209
Reconciliation of segment profit
Elimination of intersegment profit					(310)
Total consolidated segment profit					$	77,899
Corporate expenses (3)					(9,287)
Total operating income					$	68,612
Interest income, net					2,325
Income before income taxes					$	70,937

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(2) For each reportable segment, the 'Selling, general, administrative expenses and other' line items category includes: salaries and wages, stock based compensation amortization expense, depreciation expense, professional fees, rent expense, and other miscellaneous items.

(3) Comprised primarily of expenses not allocated to our operating segments.

	Three Months Ended March 31,
	2024
	Pressure Control		Spoolable Technologies		Total
Revenues from external customers	$	175,028	$	99,095	$	274,123
Intersegment revenue	—		—		—
Total revenues	175,028		99,095		274,123
Reconciliation of revenue
Elimination of intersegment revenue					—
Total consolidated revenues					274,123
Less:(1)
Cost of revenue from external customers	$	111,807	$	57,040	$	168,847
Intersegment cost of revenue	—		—		—
Total cost of revenues	111,807		57,040		168,847
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue					—
Total consolidated cost of revenue					168,847
Selling, general, administrative expenses and other (2)	11,546		25,662
Segment profit	$	51,675	$	16,393	$	68,068
Reconciliation of segment profit
Elimination of intersegment profit					—
Total consolidated segment profit					$	68,068
Corporate expenses (3)					(5,518)
Total operating income					$	62,550
Interest income, net					689
Income before income taxes					$	63,239

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(2) For each reportable segment, the 'Selling, general, administrative expenses and other' line items category includes: salaries and wages, stock based compensation amortization expense, depreciation expense, professional fees, rent expense, and other miscellaneous items. The expenses for Spoolable Technologies also include the change in fair value of the earn-out liability.

(3) Comprised primarily of expenses not allocated to our operating segments.