XML 15 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities:      
Net income $ 36,442 $ 2,093  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 5,115 3,512  
Unrealized foreign currency gain (loss) (1,142) 149  
Gain on sale of Global Pump Solutions business (64,502) 0  
(Loss) gain on sale of property and equipment (15) 115  
Debt discount amortization 206 120  
Share-based compensation expense 3,356 1,670  
Provision (recovery) for credit loss 819 (384)  
Inventory reserve expense 92 499  
Deferred income tax benefit 166 0  
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable 16,215 (5,355)  
Costs and estimated earnings in excess of billings on uncompleted contracts (12,270) 7,858  
Inventories (2,416) (4,447)  
Prepaid expense and other current assets (17,652) 1,211  
Deferred charges and other assets (971) (221)  
Accounts payable (3,633) (2,442)  
Accrued expenses 8,865 1,220  
Billings in excess of costs and estimated earnings on uncompleted contracts 5,933 1,262  
Income taxes payable 17,220 (387)  
Other liabilities (3,524) (5,249)  
Net cash provided by (used in) operating activities (11,696) 1,224  
Cash flows from investing activities:      
Acquisitions of property and equipment (3,385) (3,116)  
Net cash proceeds for sale of Global Pump Solutions business 105,860 0  
Net cash (paid) received for acquisitions, net of cash acquired (97,646) 422  
Net cash provided by (used in) investing activities 4,829 (2,694)  
Cash flows from financing activities:      
Borrowings on revolving credit lines 148,100 13,400  
Repayments on revolving credit lines (27,600) (12,600)  
Repayments of long-term debt (420) (2,553)  
Payments on finance leases and financing liability (234) (229)  
Deferred consideration paid for acquisitions (1,000) (1,000)  
Equity awards surrendered by employees for tax liability, net of proceeds from employee stock purchase plan and exercise of stock options (2,688) 258  
Noncontrolling interest distributions (402) (804)  
Common stock repurchased 0 (3,000)  
Net cash (used in) provided by financing activities 115,756 (6,528)  
Effect of exchange rate changes on cash, cash equivalents and restricted cash (414) (422)  
Net increase (decrease) in cash, cash equivalents and restricted cash 108,475 (8,420)  
Cash, cash equivalents and restricted cash at beginning of period 38,201 55,448 $ 55,448
Cash, cash equivalents and restricted cash at end of period 146,676 47,028 $ 38,201
Cash paid during the period for:      
Interest 3,987 3,269  
Income taxes $ 2,405 $ 975