BUSINESS SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Segment information is as follows as of and for the year ended December 31, 2024:


	Arcadia Products		DynaEnergetics		NobelClad		Total
Net sales	$	249,763	$	287,686	$	105,402	$	642,851
Cost of products sold	182,738		237,631		71,591		491,960
Gross profit	67,025		50,055		33,811		150,891

Stock-based compensation*	1,920		—		—		1,920
General and administrative expenses	29,389		10,835		4,299		44,523
Selling and distribution expenses	15,871		21,128		9,461		46,460
Amortization of purchased intangible assets	21,111		44		—		21,155
Restructuring expenses and asset impairments	645		1,881		—		2,526
Goodwill impairment	141,725		—		—		141,725
Operating (loss) income	(143,636)		16,167		20,051		(107,418)
Unallocated corporate expenses							(19,230)
Unallocated stock-based compensation*							(4,610)
Other expense, net							(1,068)
Interest expense, net							(8,664)
Loss before income taxes							(140,990)
Income tax provision							10,970
Net loss							(151,960)

Segment information is as follows as of and for the year ended December 31, 2023:


	Arcadia Products		DynaEnergetics		NobelClad		Total
Net sales	$	298,909	$	315,026	$	105,253	$	719,188
Cost of products sold	206,657		228,325		71,724		506,706
Gross profit	92,252		86,701		33,529		212,482

Stock-based compensation*	1,571		—		—		1,571
General and administrative expenses	29,708		15,806		4,092		49,606
Selling and distribution expenses	16,958		21,472		9,570		48,000
Amortization of purchased intangible assets	22,608		59		—		22,667
Restructuring expenses and asset impairments	—		3,011		440		3,451

Operating income	21,407		46,353		19,427		87,187
Unallocated corporate expenses							(17,466)
Unallocated stock-based compensation*							(8,544)
Other expense, net							(1,782)
Interest expense, net							(9,516)
Income before income taxes							49,879
Income tax provision							15,120
Net income							34,759

Segment information is as follows as of and for the year ended December 31, 2022:


	Arcadia Products		DynaEnergetics		NobelClad		Total
Net sales	$	299,527	$	264,327	$	90,232	$	654,086
Cost of products sold	211,193		188,758		68,182		468,133
Gross profit	88,334		75,569		22,050		185,953

Stock-based compensation*	2,206		—		—		2,206
General and administrative expenses	30,437		19,627		4,587		54,651
Selling and distribution expenses	15,413		16,588		8,981		40,982
Amortization of purchased intangible assets	36,316		299		311		36,926
Restructuring expenses and asset impairments	—		—		182		182

Operating income	3,962		39,055		7,989		51,006
Unallocated corporate expenses							(13,164)
Unallocated stock-based compensation*							(7,852)
Other expense, net							(594)
Interest expense, net							(6,187)
Income (loss) before income taxes							23,209
Income tax provision							9,376
Net income							13,833

*Stock-based compensation is not allocated to wholly owned segments, DynaEnergetics and NobelClad. Stock-based compensation is allocated to the Arcadia Products segment as 60% of such expense is attributable to the Company, whereas the remaining 40% is attributable to the redeemable noncontrolling interest holder.


	2024		2023		2022
Depreciation and Amortization:
Arcadia Products	$	24,792	$	26,303	$	39,222
DynaEnergetics	6,755		6,906		7,877
NobelClad	3,175		2,893		3,730
Segment depreciation and amortization	34,722		36,102		50,829
Corporate and other	324		405		378
Consolidated depreciation and amortization	$	35,046	$	36,507	$	51,207

The geographic location of our property, plant and equipment, net of accumulated depreciation, is as follows at December 31:


	2024		2023
United States	$	104,722	$	102,894
Germany	24,445		26,236

Canada	63		76
France	45		58

Rest of the world	1		3
Total	$	129,276	$	129,267


	2024		2023		2022
Acquisition of property, plant and equipment:
Arcadia Products	$	3,976	$	6,051	$	7,168
DynaEnergetics	6,636		6,545		5,660
NobelClad	5,751		2,944		5,298
Segment acquisition of property, plant and equipment	16,363		15,540		18,126
Corporate and other	921		434		458
Consolidated acquisition of property, plant and equipment	$	17,284	$	15,974	$	18,584

The disaggregation of revenue earned from contracts with customers is based on the geographic location of the customer. For Arcadia Products, net sales have been presented consistent with United States regional definitions as provided by the American Institute of Architects. For DynaEnergetics and NobelClad, all net sales are from products shipped from our manufacturing facilities and distribution centers located in the United States, Germany, and Canada. The following represents our net sales based on the geographic location of the customer for years ended December 31:

Arcadia Products


	2024		2023		2022
West	$	207,642	$	237,629	$	235,705
South	23,393		30,055		37,061
Northeast	9,957		21,582		14,103
Midwest	8,771		9,643		12,658
Total Arcadia Products	$	249,763	$	298,909	$	299,527

DynaEnergetics


	2024		2023		2022
United States	$	220,114	$	245,391	$	211,025
Canada	21,818		23,404		17,156
Oman	7,497		7,833		3,188
India	6,314		2,179		1,154
Kuwait	5,921		4,980		1,801

Egypt	3,409		2,340		5,780
Iraq	510		6,034		3,574








Rest of the world(1)	22,103		22,865		20,649
Total DynaEnergetics	$	287,686	$	315,026	$	264,327

(1) Rest of the world does not include any individual country comprising sales greater than 2% of total DynaEnergetics revenue.

NobelClad


	2024		2023		2022
United States	51,275		53,024		38,818
Canada	10,625		7,588		9,610
Germany	9,353		4,695		4,630
Saudi Arabia	4,702		3,542		2,212
China	4,689		6,438		3,902
United Arab Emirates	3,551		4,485		3,582
Netherlands	3,379		1,656		2,094
France	2,684		2,988		2,057
Australia	1,386		1,181		1,799
Italy	1,357		2,064		1,766
India	1,056		307		3,116

South Korea	850		4,562		3,242

Sweden	673		2,011		3,743







Rest of the world (1)	9,822		10,712		9,661
Total NobelClad	$	105,402	$	105,253	$	90,232

(1) Rest of the world does not include any individual country comprising sales greater than 2% of total NobelClad revenue.