v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net income (loss) $ (47,264) $ 1,219
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation, depletion and accretion expense 46,883 38,264
Amortization expense of acquired intangible assets 6,371 4,785
Amortization of debt discount 1,057 1,109
Amortization of deferred financing costs 97 106
Stock-based compensation 8,442 6,518
Gain on sales of power equipment (1,284) 0
Deferred income tax (5,127) 1,379
Credit loss expense 17 0
Other (51) (122)
Changes in operating assets and liabilities:    
Accounts receivable (31,012) (71,587)
Accounts receivable - related party 72 0
Inventories 841 2,818
Spare part inventories (5,188) (2,204)
Prepaid expenses and other current assets (2,993) 5
Other long-term assets (8) (997)
Accounts payable 27,179 9,210
Accounts payable - related parties (13) (160)
Deferred revenue 3,264 (2,018)
Lease incentive receipts 2,069 0
Accrued liabilities and other liabilities 15,644 4,225
Net cash provided by (used in) operating activities 18,996 (7,450)
Investing activities:    
Purchases of property, plant and equipment (29,275) (52,389)
Proceeds from sales of power equipment 3,336 0
Proceeds from insurance recovery 3,326 5,398
Acquisitions, net of cash acquired 0 (181,511)
Net cash used in investing activities (22,613) (228,502)
Financing Activities:    
Proceeds from ABL credit facility 25,000 0
Principal payments on term loan borrowings (5,190) (4,725)
Payment on Deferred Cash Consideration Note (11,085) (101,252)
Payments under finance leases (2,134) (959)
Repayment of equipment finance notes (2,599) (841)
Taxes withheld on vesting RSUs (1,227) (595)
Proceeds from equity offering, net of issuance costs 0 253,070
Proceeds from term loan borrowings 0 188,805
Payment on ABL credit facility 0 (70,000)
Dividends 0 (30,435)
Issuance costs associated with debt financing 0 (146)
Net cash provided by financing activities 2,765 232,922
Net decrease in cash and cash equivalents (852) (3,030)
Cash and cash equivalents, beginning of period 40,632 71,704
Cash and cash equivalents, end of period 39,780 68,674
Supplemental cash flow information    
Interest 13,728 11,894
Taxes (refund) (2,334) 0
Supplemental disclosure of non-cash investing activities:    
Property, plant and equipment in accounts payable and accrued liabilities 10,668 20,370
Acquisition consideration, equity issuance 0 35,385
Equipment assets acquired through debt $ 35,470 $ 3,374

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