Revenue

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Revenue from Contracts with Customers

Our contract asset balances, primarily associated with contractual invoicing milestones and/or customer documentation requirements, were $26.3 million and $30.4 million as of March 31, 2025 and December 31, 2024, respectively. Contract assets, along with billed trade accounts receivable, are included in trade accounts receivable in our consolidated balance sheets.

Unearned income includes amounts in which the Company was contractually allowed to invoice prior to satisfying the associated performance obligations. Unearned income balances were $0.6 million and $0.4 million as of March 31, 2025 and December 31, 2024, respectively, and vary based on the timing of invoicing and performance obligations being met. Unearned income is included in accrued liabilities and other in our consolidated balance sheets. We recognized approximately $0.1 million and $0.1 million during the three months ended

March 31, 2025 and March 31, 2024, respectively, deferred in unearned income as of the beginning of the period. During the three months ended March 31, 2025 and March 31, 2024, contract costs were not significant.

We disaggregate revenue from contracts with customers into Product Sales and Services within each segment, as noted in our two reportable segments in Note 9 - “Industry Segments.” In addition, we disaggregate revenue from contracts with customers by geography based on the following table below.

	Three Months Ended March 31,
	2025		2024
	(in thousands)
Completion Fluids & Products
United States	$	61,144	$	41,437
International	31,874		35,845
	93,018		77,282
Water & Flowback Services
United States	55,878		64,711
International	8,244		8,979
	64,122		73,690
Total Revenue
United States	117,022		106,148
International	40,118		44,824
	$	157,140	$	150,972