v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ (1,538) $ (1,669)
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 6,927 6,722
Amortization of deferred financing costs 38 87
Non-cash lease expense 1,220 1,383
Unrealized loss (gain) on currency translation (271) (114)
Write off of excess and obsolete inventory 18 418
Write off of excess and obsolete property and equipment 0 54
Provision (recovery) for credit losses 316 217
Deferred tax expense (benefit) (973) (750)
Loss (gain) on sale of property 0 23
Gain on sale of lost-in-hole equipment (3,914) (3,145)
Stock-based compensation expense 719 541
Interest income on related party note receivable (91) (91)
Goodwill impairment 0 1,901
Changes in operating assets and liabilities:    
Accounts receivable, net (3,062) (670)
Prepaid expenses and other current assets (2,438) 572
Inventories (136) 2,540
Operating lease liabilities (1,147) (1,303)
Accounts payable 2,031 (3,651)
Accrued expenses and other current liabilities (862) (634)
Net cash flows from operating activities (3,163) 2,431
Cash flows from investing activities:    
Acquisition of a business, net of cash acquired 0 (5,619)
Purchase of intangible assets (417) (681)
Proceeds from sale of property, plant, and equipment 0 14
Purchase of property, plant and equipment (7,687) (5,043)
Proceeds from sale of lost-in-hole equipment 5,133 4,049
Net cash flows from investing activities (2,971) (7,280)
Cash flows from financing activities:    
Proceeds from exercise of stock options 60 0
Payment of deferred financing costs (87) 0
Purchase of treasury stock (706) 0
Repayment of term loan (1,250) (1,250)
Repayment of promissory note (235) (216)
Proceeds from revolving line of credit 19,770 19,349
Repayment on revolving line of credit (12,270) (16,491)
Net cash flows from financing activities 5,282 1,392
Effect of changes in foreign exchange rates 44 61
Net change in cash (808) (3,396)
Cash at beginning of period 3,648 6,185
Cash at end of period $ 2,840 $ 2,789