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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue, net:        
Revenue, net $ 37,533 $ 37,908 $ 74,507 $ 78,707
Operating costs and expenses:        
Selling, general, and administrative expense 19,619 17,718 37,560 34,447
Depreciation and amortization expense 5,681 4,717 11,047 9,732
Total operating costs and expenses 35,298 31,284 67,142 62,468
Income from operations 2,235 6,624 7,365 16,239
Other expense, net:        
Interest expense, net (811) (348) (992) (922)
Gain (loss) on sale of property 51 (1) 42 68
Unrealized gain on investments in equity securities 480 420 729 387
Other (expense) (1,672) (4,382) (2,798) (6,035)
Total other expense, net (1,952) (4,311) (3,019) (6,502)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 283 2,313 4,346 9,737
Income tax (expense)/benefit 82 (1,376) (854) (3,099)
Net income 365 937 3,492 6,638
Accumulated dividends on redeemable convertible preferred stock 0 0 0 314
Net income available to common shareholders $ 365 $ 937 $ 3,492 $ 6,324
Basic earnings per share $ 0.01 $ 0.07 $ 0.12 $ 0.49
Diluted earnings per share $ 0.01 $ 0.05 $ 0.12 $ 0.33
Basic weighted-average common shares outstanding 29,816,202 13,910,670 29,792,385 12,936,310
Diluted weighted-average common shares outstanding 30,873,436 20,746,976 30,321,002 20,217,648
Other comprehensive income (loss):        
Net income $ 365 $ 937 $ 3,492 $ 6,638
Foreign currency translation adjustment, net of tax 102 (207) (408) (207)
Comprehensive income 467 730 3,084 6,431
Tool Rental        
Revenue, net:        
Revenue, net 28,328 29,002 58,294 61,278
Operating costs and expenses:        
Operating costs and expenses 7,454 7,692 14,455 15,829
Product Sale        
Revenue, net:        
Revenue, net 9,205 8,906 16,213 17,429
Operating costs and expenses:        
Operating costs and expenses $ 2,544 $ 1,157 $ 4,080 $ 2,460