XML 22 R5.htm IDEA: XBRL DOCUMENT v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (9,321) $ 9,979  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Deferred income tax (benefit) (504)    
Equity method investment loss 121 236  
Depreciation, depletion and amortization 10,606 14,977  
Gain on disposal or abandonment of assets, net (201) (21)  
Loss on extinguishment of debt 230    
Amortization of debt issuance costs 274 497  
Asset retirement obligations accretion 408 427  
Cash paid on asset retirement obligation reclamation (148) (156)  
Stock-based compensation 1,135 1,084  
Amortization of contract liabilities (36,447) (35,669)  
Accretion on contract liabilities 2,834 1,560  
Amortization of right-of-use assets 87    
Other 1,533 3,224  
Change in current assets and liabilities:      
Accounts receivable 4,837 2,856  
Inventory (4,630) 367  
Parts and supplies (2,039) (1,033)  
Prepaid expenses (2,580) (330)  
Accounts payable and accrued liabilities 7,427 3,124  
Contract liabilities 46,874 37,297  
Net cash provided by operating activities 20,496 38,419  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (7,681) (11,693)  
Proceeds from sale of equipment 201 21  
Net cash used in investing activities (7,480) (11,672)  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments on bank debt (56,700) (33,000)  
Borrowings of bank debt 26,700 12,000  
Payments on lease financing (3,172) (1,693)  
Debt issuance costs (5,780)    
Taxes paid on vesting of RSUs (38)    
Net cash (used in) provided by financing activities 14,975 (22,693)  
Increase in cash, cash equivalents, and restricted cash 27,991 4,054  
Cash, cash equivalents, and restricted cash, beginning of period 15,372 12,153 $ 12,153
Cash, cash equivalents, and restricted cash, end of period 43,363 16,207 15,372
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:      
Cash and cash equivalents 36,778 6,891 10,070
Restricted cash 6,585 9,316 5,302
Cash, Cash Equivalents and Restricted Cash 43,363 16,207 $ 15,400
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for interest 1,002 1,830  
Non-cash change in capital expenditures included in accounts payable and prepaid expense 9,981 $ (1,649)  
Right-of-use asset additions 2,402    
ATM      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from offering, net of issuance costs 201    
Confidentially marketed public offering      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from offering, net of issuance costs $ 53,764