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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue, net:        
Revenue, net $ 40,093 $ 38,138 $ 114,600 $ 116,845
Operating costs and expenses:        
Selling, general, and administrative expense 19,855 16,552 57,415 50,999
Depreciation and amortization expense 6,185 5,303 17,232 15,035
Total operating costs and expenses 35,842 31,006 102,984 93,474
Income from operations 4,251 7,132 11,616 23,371
Other expense, net:        
Interest expense, net (1,038) (73) (2,030) (995)
Gain (loss) on sale of property 19 0 61 68
Gain (loss) on remeasurement of previously held equity interest (361) (535) 368 (148)
Other (expense) (2,443) (135) (5,241) (6,170)
Total other expense, net (3,823) (743) (6,842) (7,245)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 428 6,389 4,774 16,126
Income tax (expense)/benefit 439 (2,102) (415) (5,201)
Net income 867 4,287 4,359 10,925
Accumulated dividends on redeemable convertible preferred stock 0 0 0 314
Net income available to common shareholders $ 867 $ 4,287 $ 4,359 $ 10,611
Basic earnings per share $ 0.03 $ 0.14 $ 0.14 $ 0.57
Diluted earnings per share $ 0.03 $ 0.14 $ 0.14 $ 0.46
Basic weighted-average common shares outstanding 33,072,097 29,768,568 30,893,602 18,608,708
Diluted weighted-average common shares outstanding 33,547,056 30,043,546 31,404,333 23,554,593
Other comprehensive income (loss):        
Net income $ 867 $ 4,287 $ 4,359 $ 10,925
Foreign currency translation adjustment, net of tax 1,161 90 753 (117)
Comprehensive income 2,028 4,377 5,112 10,808
Tool Rental        
Revenue, net:        
Revenue, net 28,116 29,361 86,410 90,639
Operating costs and expenses:        
Operating costs and expenses 4,076 7,337 17,558 21,578
Product Sale        
Revenue, net:        
Revenue, net 11,977 8,777 28,190 26,206
Operating costs and expenses:        
Operating costs and expenses $ 5,726 $ 1,814 $ 10,779 $ 5,862