v3.25.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Total revenue $ 288,676 $ 287,518 $ 586,267 $ 480,185
Operating expenses:        
Cost of sales (excluding depreciation, depletion and accretion expense) [1] 195,904 202,136 401,967 308,882
Depreciation, depletion and accretion expense [1] 40,633 25,027 77,633 42,202
Gross profit 52,139 60,355 106,667 129,101
Selling, general and administrative expense (including stock-based compensation expense of $8,290, $5,466, $14,808, and $9,672, respectively) 34,371 27,266 68,783 55,249
Credit loss expense 4,110 0 4,110 25
Amortization expense of acquired intangible assets 6,465 3,768 11,250 4,829
Loss on disposal of assets 0 11,098 0 11,098
Insurance recovery (gain) 0 (10,000) 0 (10,000)
Operating income 7,193 28,223 22,524 67,900
Interest (expense), net (14,798) (10,458) (26,876) (15,436)
Other income, net 370 138 629 161
Income (loss) before income taxes (7,235) 17,903 (3,723) 52,625
Income tax expense (benefit) (1,677) 3,066 616 11,001
Net income (loss) $ (5,558) $ 14,837 $ (4,339) $ 41,624
Net income (loss) per common share        
Net income (loss) per common share, Basic $ (0.04) $ 0.13 $ (0.04) $ 0.39
Net income (loss) per common share, Diluted $ (0.04) $ 0.13 $ (0.04) $ 0.39
Weighted average common shares outstanding, Basic 123,655 111,064 120,965 106,394
Weighted average common shares outstanding, Diluted 123,655 112,023 120,965 107,171
Product        
Total revenue $ 126,328 $ 128,210 $ 265,973 $ 241,642
Service        
Total revenue 146,355 159,308 296,964 238,543
Rental revenue        
Total revenue $ 15,993 $ 0 $ 23,330 $ 0
[1]

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

Source