v3.25.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Total revenue $ 297,591 $ 192,667
Operating expenses:    
Cost of sales (excluding depreciation, depletion and accretion expense) [1] 206,063 106,746
Depreciation, depletion and accretion expense [1] 37,000 17,175
Gross profit 54,528 68,746
Selling, general and administrative expense (including stock-based compensation expense of $6,518 and $4,206, respectively) 34,412 28,008
Amortization expense of acquired intangible assets 4,785 1,061
Operating income 15,331 39,677
Interest (expense), net (12,078) (4,978)
Other income, net 259 23
Income before income taxes 3,512 34,722
Income tax expense 2,293 7,935
Net income $ 1,219 $ 26,787
Net income per common share    
Net income per common share, Basic $ 0.01 $ 0.26
Net income per common share, Diluted $ 0.01 $ 0.26
Weighted average common shares outstanding, Basic 118,245 102,931
Weighted average common shares outstanding, Diluted 119,747 103,822
Product    
Total revenue $ 139,645 $ 113,432
Service    
Total revenue 150,609 79,235
Rental revenue    
Total revenue $ 7,337 $ 0
[1]

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

Source