XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.1
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenue, net:    
Revenue, net $ 152,034 $ 129,556
Operating costs and expenses:    
Selling, general, and administrative expense 68,264 51,566
Depreciation and amortization expense 20,352 19,709
Total operating costs and expenses 124,135 104,279
Operating income 27,899 25,277
Other expense, net:    
Interest expense, net (1,103) (477)
Gain on sale of property 101 127
Loss on asset disposal (489) 0
Unrealized gain (loss) on equity securities (255) 234
Other expense, net (6,359) (384)
Total other expense, net (8,105) (500)
Income before income tax expense 19,794 24,777
Income tax expense (5,046) (3,698)
Net income 14,748 21,080
Accumulated dividends on redeemable convertible preferred stock 314 1,189
Net income available to common shareholders $ 14,434 $ 19,891
Basic earnings per share $ 0.67 $ 1.66
Diluted earnings per share $ 0.59 $ 1.07
Basic weighted-average common shares outstanding [1] 21,421,610 11,951,137
Diluted weighted-average common shares outstanding [1] 25,131,024 19,677,507
Comprehensive income:    
Net income $ 14,748 $ 21,080
Foreign currency translation adjustment, net of tax (114) 173
Net comprehensive income 14,634 21,253
Tool Rental    
Revenue, net:    
Revenue, net 119,239 99,018
Operating costs and expenses:    
Operating costs and expenses 30,960 27,581
Product Sale    
Revenue, net:    
Revenue, net 32,795 30,538
Operating costs and expenses:    
Operating costs and expenses $ 4,559 $ 5,423
[1] Shares of legacy redeemable convertible preferred stock and legacy common stock have been retroactively restated to give effect to the Merger.