STRATEGIC REVIEW AND RELATED EXPENSES

6 Months Ended

Jun. 30, 2025

Other Income and Expenses [Abstract]

STRATEGIC REVIEW AND RELATED EXPENSES

STRATEGIC REVIEW AND RELATED EXPENSES

During the first quarter of 2024, the Company announced that the Board had initiated a review of strategic alternatives for the DynaEnergetics and NobelClad segments. In conjunction with the Board’s consideration of various strategic, business, and financial alternatives, the Company incurred significant expenses. In October 2024, the Company announced that the Board was no longer actively marketing the DynaEnergetics and NobelClad segments. However, in response to subsequent inquiries and actions of certain stockholders, the Company has continued to incur significant expenses as the Board satisfies its fiduciary obligations with respect to such inquiries. During the three months ended June 30, 2025, such expenses incurred were $775 and related primarily to professional service fees. During the six months ended June 30, 2025, strategic review and related expenses were $2,073, and primarily included $1,507 in professional service fees and $366 in employee retention compensation, including $36 of stock-based compensation.

During the three months ended June 30, 2024, strategic review expenses incurred were $2,020 and primarily included $1,030 in professional service fees and $863 in employee retention compensation, including $106 of stock-based compensation. During the six months ended June 30, 2024, strategic review and related expenses incurred were $4,189 and primarily included $2,170 in professional service fees and $1,351 in employee retention compensation, including $178 of stock-based compensation.