Flotek Industries (FTK) 10-Q7 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Nov. 04, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	1-13270
Entity Registrant Name	FLOTEK INDUSTRIES INC/CN
Entity Incorporation, State	DE
Entity Tax Identification Number	90-0023731
Entity Address, Street	5775 N. Sam Houston Parkway W., Suite 400,
Entity Address, City	Houston,
Entity Address, State	TX
Entity Address, Postal Zip Code	77086
City Area Code	713
Local Phone Number	849-9911
Title of each class	Common Stock, $0.0001 par value
Trading Symbol(s)	FTK
Name of each exchange on which registered	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		29,795,834
Entity Central Index Key	0000928054
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 4,997	$ 5,851
Restricted cash	101	102
Inventories, net	12,744	12,838
Other current assets	2,687	3,564
Current contract asset	6,480	5,836
Total current assets	86,293	76,447
Long-term contract asset	63,835	68,820
Property and equipment, net	4,958	5,129
Operating lease right-of-use assets	3,759	5,030
Deferred tax assets, net	66	300
Other long-term assets	1,738	1,787
TOTAL ASSETS	160,649	157,513
Current liabilities:
Accounts payable	37,395	31,705
Accrued liabilities	4,115	5,890
Income taxes payable	54	45
Current portion of operating lease liabilities	1,642	2,449
Current portion of finance lease liabilities	0	22
Asset-based loan	1,426	7,492
Current portion of long-term debt	104	179
Total current liabilities	44,736	47,782
Deferred revenue, long-term	35	35
Long-term operating lease liabilities	6,871	7,676
Long-term debt	0	60
TOTAL LIABILITIES	51,642	55,553
Stockholders’ equity:
Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.0001 par value, 240,000,000 shares authorized; 30,891,597 shares issued and 29,789,476 shares outstanding at September 30, 2024; 30,772,837 shares issued and 29,664,130 shares outstanding at December 31, 2023 (As adjusted, see Note 13)	3	3
Additional paid-in capital (As adjusted, see Note 13)	464,143	463,140
Accumulated other comprehensive income	133	127
Accumulated deficit	(320,738)	(326,806)
Treasury stock, at cost; 1,102,121 and 1,108,707 shares at September 30, 2024 and December 31, 2023, respectively (As adjusted, see Note 13)	(34,534)	(34,504)
Total stockholders’ equity	109,007	101,960
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	160,649	157,513
Third Party
Current assets:
Accounts receivable	12,220	13,687
Related Party
Current assets:
Accounts receivable	$ 47,064	$ 34,569

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance for doubtful accounts	$ 388	$ 745
Preferred stock, at par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	0	0
Preferred Stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	240,000,000	240,000,000
Common stock, shares issued (in shares)	30,891,597	30,772,837
Common stock, shares outstanding (in shares)	29,789,476	29,664,130
Treasury stock, shares (in shares)	1,102,121	1,108,707
Third Party
Accounts receivable, allowance for doubtful accounts	$ 388	$ 745
Related Party
Accounts receivable, allowance for doubtful accounts	$ 0	$ 0

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Total revenues	$ 49,742	$ 47,268	$ 136,267	$ 145,870
Cost of sales	40,623	38,221	109,159	131,037
Gross profit	9,119	9,047	27,108	14,833
Operating costs and expenses:
Selling, general, and administrative	5,714	6,526	18,056	21,303
Depreciation	220	181	662	530
Research and development	462	757	1,349	2,231
Severance costs	0	2	23	(28)
Gain on sale of property and equipment	0	(38)	(34)	(38)
Gain in fair value of Contract Consideration Convertible Notes Payable	0	0	0	(29,969)
Total operating costs and expenses	6,396	7,428	20,056	(5,971)
Income from operations	2,723	1,619	7,052	20,804
Other income (expense):
Paycheck protection plan loan forgiveness	0	0	0	4,522
Interest expense	(256)	(160)	(842)	(2,537)
Other income, net	102	(91)	151	(82)
Total other income (expense)	(154)	(251)	(691)	1,903
Income before income taxes	2,569	1,368	6,361	22,707
Income tax expense	(37)	(81)	(293)	(98)
Net income	$ 2,532	$ 1,287	$ 6,068	$ 22,609
Income (loss) per common share (As adjusted, see Note 14):
Basic (in dollars per share)	$ 0.09	$ 0.04	$ 0.21	$ 0.97
Diluted (in dollars per share)	$ 0.08	$ 0.04	$ 0.20	$ (0.18)
Weighted average common shares (As adjusted, see Note 14):
Weighted average common shares used in computing basic income (loss) per common share (in shares)	29,613	29,358	29,498	23,291
Weighted average common shares used in computing diluted income (loss) per common share (in shares)	30,897	30,688	30,655	28,034
Nonrelated Party
Revenue:
Total revenues	$ 16,565	$ 17,806	$ 47,935	$ 47,278
Cost of sales	14,996	14,399	45,436	42,471
Related Party
Revenue:
Total revenues	$ 33,177	$ 29,462	$ 88,332	$ 98,592

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 2,532	$ 1,287	$ 6,068	$ 22,609
Other comprehensive income (loss):
Foreign currency translation adjustment	(52)	47	6	13
Comprehensive income	$ 2,480	$ 1,334	$ 6,074	$ 22,622

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 2,532	$ 1,287	$ 6,068	$ 22,609
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Change in fair value of contingent consideration			(46)	(384)
Change in fair value of Contract Consideration Convertible Notes Payable	0	0	0	(29,969)
Amortization of convertible note issuance costs			0	83
Paid-in-kind interest expense			0	2,284
Amortization of contract assets			4,341	3,665
Depreciation	220	181	662	530
Amortization of asset-based loan origination costs			243	36
Provision for credit losses, net of recoveries			121	97	$ 138
Provision for excess and obsolete inventory			626	626
Gain on sale of property and equipment	0	(38)	(34)	(38)
Non-cash lease expense			1,661	2,316
Stock compensation expense			915	(565)
Deferred income tax expense			233	50
Paycheck protection plan loan forgiveness	0	0	0	(4,522)
Changes in current assets and liabilities:
Accounts receivable			1,346	3,472
Accounts receivable, related party			(12,495)	(2,082)
Inventories			(532)	(776)
Other assets			849	(863)
Accounts payable			5,690	60
Accrued liabilities			(1,730)	(3,179)
Operating lease liabilities			(2,002)	(2,636)
Income taxes payable			9	(54)
Interest payable			0	(8)
Net cash provided by (used in) operating activities			5,925	(9,248)
Cash flows from investing activities:
Capital expenditures			(491)	(593)
Proceeds from sale of assets			34	68
Net cash used in investing activities			(457)	(525)
Cash flows from financing activities:
Payment for forfeited stock options			0	(617)
Payments on long term debt			(135)	(104)
Proceeds from asset-based loan			122,600	27,750
Payments on asset-based loan			(128,666)	(24,380)
Payment of asset-based loan origination costs			(164)	(502)
Payments to tax authorities for shares withheld from employees			(30)	(246)
Proceeds from issuance of stock			88	48
Payments for finance leases			(22)	(24)
Net cash (used in) provided by financing activities			(6,329)	1,925
Effect of changes in exchange rates on cash and cash equivalents			6	13
Net change in cash and cash equivalents and restricted cash			(855)	(7,835)
Cash and cash equivalents at the beginning of period			5,851	12,290	12,290
Restricted cash at the beginning of period			102	100	100
Cash and cash equivalents and restricted cash at beginning of period			5,953	12,390	12,390
Cash and cash equivalents at end of period	4,997	4,453	4,997	4,453	5,851
Restricted cash at the end of period	101	102	101	102	102
Cash and cash equivalents and restricted cash at end of period	$ 5,098	$ 4,555	$ 5,098	$ 4,555	$ 5,953

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		13,986,000
Beginning balance at Dec. 31, 2022	$ 2,596	$ 1	$ (34,251)	$ 388,184	$ 181	$ (351,519)
Beginning balance (in shares) at Dec. 31, 2022			1,021,000
Increase (Decrease) in Equity
Net income	22,609					22,609
Foreign currency translation adjustment	13				13
Stock issued under employee stock purchase plan (in shares)			(12,000)
Stock issued under employee stock purchase plan	48			48
Restricted stock units vested (in shares)		82,000
Restricted stock granted (in shares)		148,000
Restricted stock forfeited (in shares)		7,000	65,000
Forfeited stock options purchased	(617)			(617)
Stock compensation expense	(565)			(565)
Shares withheld to cover taxes (in shares)		(3,000)	(36,000)
Shares withheld to cover taxes	(246)		$ (231)	(15)
Exercise of pre-funded warrants (in shares)		4,228,000
Issuance of stock warrants, net of transaction fee	15,092			15,092
Conversion of convertible notes payable to Pre-Funded Warrants	11,040			11,040
Conversion of convertible notes payable to Common Stock (in shares)		1,723,000
Conversion of convertible notes payable to Common Stock	8,996			8,996
Conversion of Amended ProFrac Agreement Contract Consideration Convertible Notes Payable to Common Stock (in shares)		10,583,000
Conversion of Amended ProFrac Agreement Contract Consideration Convertible Notes Payable to Common Stock	40,638	$ 2		40,636
Ending balance (in shares) at Sep. 30, 2023		30,740,000
Ending balance at Sep. 30, 2023	99,604	$ 3	$ (34,482)	462,799	194	(328,910)
Ending balance (in shares) at Sep. 30, 2023			1,110,000
Beginning balance (in shares) at Jun. 30, 2023		26,370,000
Beginning balance at Jun. 30, 2023	98,002	$ 3	$ (34,480)	462,529	147	(330,197)
Beginning balance (in shares) at Jun. 30, 2023			1,113,000
Increase (Decrease) in Equity
Net income	1,287					1,287
Foreign currency translation adjustment	47				47
Stock issued under employee stock purchase plan (in shares)			(4,000)
Stock issued under employee stock purchase plan	15			15
Restricted stock granted (in shares)		145,000
Restricted stock forfeited (in shares)			1,000
Stock compensation expense	270			270
Shares withheld to cover taxes (in shares)		(3,000)
Shares withheld to cover taxes	(17)		$ (2)	(15)
Exercise of pre-funded warrants (in shares)		4,228,000
Ending balance (in shares) at Sep. 30, 2023		30,740,000
Ending balance at Sep. 30, 2023	$ 99,604	$ 3	$ (34,482)	462,799	194	(328,910)
Ending balance (in shares) at Sep. 30, 2023			1,110,000
Beginning balance (in shares) at Dec. 31, 2023	30,772,837	30,773,000
Beginning balance at Dec. 31, 2023	$ 101,960	$ 3	$ (34,504)	463,140	127	(326,806)
Beginning balance (in shares) at Dec. 31, 2023	1,108,707		1,109,000
Increase (Decrease) in Equity
Net income	$ 6,068					6,068
Foreign currency translation adjustment	6				6
Stock issued under employee stock purchase plan (in shares)			(25,000)
Stock issued under employee stock purchase plan	88			88
Restricted stock units vested (in shares)		25,000
Restricted stock granted (in shares)		94,000
Restricted stock forfeited (in shares)			11,000
Stock compensation expense	915			915
Shares withheld to cover taxes (in shares)			(7,000)
Shares withheld to cover taxes	$ (30)		$ (30)
Ending balance (in shares) at Sep. 30, 2024	30,891,597	30,892,000
Ending balance at Sep. 30, 2024	$ 109,007	$ 3	$ (34,534)	464,143	133	(320,738)
Ending balance (in shares) at Sep. 30, 2024	1,102,121		1,102,000
Beginning balance (in shares) at Jun. 30, 2024		30,867,000
Beginning balance at Jun. 30, 2024	$ 106,234	$ 3	$ (34,528)	463,844	185	(323,270)
Beginning balance (in shares) at Jun. 30, 2024			1,107,000
Increase (Decrease) in Equity
Net income	2,532					2,532
Foreign currency translation adjustment	(52)				(52)
Stock issued under employee stock purchase plan (in shares)			(6,000)
Stock issued under employee stock purchase plan	26			26
Restricted stock units vested (in shares)		25,000
Stock compensation expense	273			273
Shares withheld to cover taxes (in shares)			(1,000)
Shares withheld to cover taxes	$ (6)		$ (6)
Ending balance (in shares) at Sep. 30, 2024	30,891,597	30,892,000
Ending balance at Sep. 30, 2024	$ 109,007	$ 3	$ (34,534)	$ 464,143	$ 133	$ (320,738)
Ending balance (in shares) at Sep. 30, 2024	1,102,121		1,102,000

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
Organization and Nature of Operations	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations General Flotek creates unique solutions to reduce the environmental impact of energy on air, water, land and people. A technology-driven, specialty green chemistry and data company, Flotek helps customers across industrial and commercial markets improve their environmental performance. The Company serves customer needs for both domestic and international energy markets. The Company’s Chemistry Technologies (“CT”) segment designs, develops, manufactures, packages and distributes green specialty chemicals that help customers improve their return on invested capital, lower operational costs and realize tangible environmental benefits aimed at enhancing the profitability of hydrocarbon producers. The Company’s Data Analytics (“DA”) segment aims to enable users to maximize the value of their hydrocarbon associated processes by providing analytics associated with their hydrocarbon streams in seconds rather than minutes or days. The real-time access to information can prevent waste, reduce reprocessing and allow users to pursue automation of their hydrocarbon streams to maximize their profitability. The Company’s two operating segments, CT and DA, are supported by its Research & Innovation advanced laboratory capabilities. For further discussion of our operations and segments, see Note 17, “Business Segment, Geographic and Major Customer Information.” As used herein, “Flotek,” the “Company,” “we,” “our” and “us” refers to Flotek Industries, Inc. and/or the Company’s wholly-owned subsidiaries. The use of these terms is not intended to connote any particular corporate status or relationship. Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect all adjustments, in the opinion of management, necessary for the fair statement of the financial condition and results of operations for the periods presented. All such adjustments are normal and recurring in nature. The financial statements, including selected notes, have been prepared in accordance with applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting and do not include all information and disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for comprehensive financial statement reporting. These interim financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s 2023 Annual Report. A copy of the 2023 Annual Report is available on the SEC’s website, www.sec.gov, or on the Company’s website, www.flotekind.com. The information contained on the SEC’s website and the Company’s website does not form a part of this Quarterly Report. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company does not have investments in any unconsolidated subsidiaries. Sources and Uses of Liquidity These unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company currently funds its operations with cash on hand, availability under the ABL (defined below, see Note 9, “Debt and Convertible Notes Payable”) and other liquid assets. The Company recognized $9.1 million and $2.5 million of gross profit and net income, respectively, during the three months ended September 30, 2024 and recognized $27.1 million and $6.1 million of gross profit and net income, respectively, during the nine months ended September 30, 2024. Further, the Company recognized net cash provided by operating activities of $5.9 million during the nine months ended September 30, 2024. While we believe that our cash, liquid assets, and availability under the ABL will provide us with sufficient financial resources to fund operations to meet our capital requirements and anticipated obligations as they become due, uncertainty surrounding the long-term stability and strength of the oil and gas markets, and the resulting potential impact on our customers’ ability to pay their obligations to us in a timely manner, could have a negative impact on our liquidity. The availability of capital is dependent on the Company’s operating cash flow, which is currently expected to be principally derived from the ProFrac Agreement (see Note 16, “Related Party Transactions”). Related party revenues for the three and nine months ended September 30, 2024 included Contract Shortfall Fees (defined below) of $6.8 million and $23.8 million, respectively (see Note 16, “Related Party Transactions”). Related party receivables as of September 30, 2024 included accrued Contract Shortfall Fees of $23.8 million, which will be due in the first quarter of 2025 under the terms of the ProFrac Agreement. Based upon our outlook for future cash flows from operations, which includes the collection of the Contract Shortfall Fees in the first quarter of 2025, combined with cash on hand and availability under the ABL, the Company believes it has sufficient financial resources to fund operations and meet its capital requirements and anticipated obligations as they become due in the next twelve months. While the Company cannot guarantee a sufficient level of cash flows in the future, the unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Apart from those matters described in this note, there have been no updates to our significant accounting policies since those reported under Note 2 of the 2023 Annual Report. Accounts Receivable and Allowance for Credit Losses Changes in the allowance for credit losses are as follows (in thousands): September 30, 2024 December 31, 2023 Balance, beginning of year $ 745 $ 623 Charges to provision for credit losses, net of recoveries 121 138 Write-offs (478) (16) Balance, end of period $ 388 $ 745 As of September 30, 2024 and December 31, 2023, the Company had not recorded an allowance for credit losses for the related party accounts receivable, including ProFrac Services, LLC (see Note 16, “Related Party Transactions”). Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”). We evaluate the applicability and impact of all authoritative guidance issued by the FASB. Guidance not listed below was assessed and determined to be either not applicable, clarifications of items listed below, immaterial or already adopted by the Company. New Accounting Standards Issued and Not Adopted as of September 30, 2024 The FASB issued Accounting Standards Update (“ASU”) No. 2023-07, “Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures.” This standard improves reportable segment disclosure requirements through enhanced disclosures around significant segment expenses. The amendments under this standard require interim and annual disclosures of significant segment expenses regularly provided to the chief operating decision maker (“CODM”). In addition, public entities are required to disclose the amount of “other segment items” by segment and their composition; make annual disclosures about a reportable segment’s profit/loss and assets; and clarify if the CODM uses more than one measure of a segment’s profit or loss in assessing performance and resource allocation and disclose the name and title of the CODM. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted and the amendments are applied retrospectively to all prior periods presented. The Company is currently evaluating the impact of the adoption of the ASU on the related disclosures. The FASB issued ASU No. 2023-09, “ Improvements to Income Tax Disclosures” (“ASU 2023-09”). The amendments under ASU 2023-09 were created as a response to requests from investors, lenders, creditors and other parties to enhance transparency and effectiveness of tax disclosures to help them better assess how an entity’s operations and related tax risks affect an entity’s tax rate and potential future cash flows. ASU 2023-09 requires that entities annually disclose the amount of taxes paid (net of refunds received) disaggregated by federal, state and foreign jurisdictions and that those amounts are also disaggregated by individual jurisdictions equal to or greater than 5% of total income taxes paid (net of funds received). ASU 2023-09 adds a requirement that entities disaggregate income (loss) from continuing operations before income tax expense (benefit) between domestic and foreign. The amendments also require entities to disaggregate income tax expense (benefit) by federal, state and foreign jurisdictions. The amendments under ASU 2023-09 also remove certain prior requirements. Public business entities are no longer required to disclose the nature and estimate of change in the unrecognized tax benefits balance in the next 12 months or make a statement that an estimate cannot be determined. In addition, public business entities are no longer required to disclose the cumulative amount of each type of temporary difference for which a deferred tax liability has not been recognized due to the exception to recognizing deferred taxes related to subsidiaries and corporate joint ventures. ASU 2023-09 goes into effect for annual periods beginning after December 15, 2024 and early adoption is permitted for annual financial statements not yet issued or made available for issuance. Adoption of the ASU is on a prospective basis, with the option to apply retrospectively. The Company is currently evaluating the impact of the adoption of the ASU on the related disclosures.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
Revenue from Contracts with Customers	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Disaggregation of Revenue The Company differentiates revenue based on whether the source of revenue is attributable to product sales or service revenue. Product and service revenues include sales to related parties as described in Note 16, “Related Party Transactions.” Total revenue disaggregated by revenue source is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Revenue: Products $ 48,243 $ 45,865 $ 132,052 $ 141,695 Services 1,499 1,403 4,215 4,175 $ 49,742 $ 47,268 $ 136,267 $ 145,870 Disaggregation of Cost of Sales The Company differentiates cost of sales based on whether the cost is attributable to tangible goods sold, cost of services sold or other costs which cannot be directly attributable to either tangible goods or services. Total cost of sales disaggregated is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Cost of sales: Tangible goods sold $ 35,824 $ 33,350 $ 95,064 $ 116,755 Services 91 128 273 425 Other 4,708 4,743 13,822 13,857 $ 40,623 $ 38,221 $ 109,159 $ 131,037 Other cost of sales represent costs directly associated with the generation of revenue but which cannot be attributed directly to tangible goods sold or services. Examples of other costs of sales are certain personnel costs and equipment rental and insurance costs. Cost of sales, between external and related party, is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Cost of sales: Cost of sales for external customers $ 14,996 $ 14,399 $ 45,436 $ 42,471 Cost of sales for related parties 25,627 23,822 63,723 88,566 $ 40,623 $ 38,221 $ 109,159 $ 131,037 Contract assets are as follows (in thousands): September 30, 2024 December 31, 2023 Contract assets $ 83,060 $ 83,060 Less accumulated amortization (12,745) (8,404) Contract assets, net 70,315 74,656 Less current contract assets (6,480) (5,836) Contract assets, long term $ 63,835 $ 68,820 In connection with entering into the Initial ProFrac Agreement and Amended ProFrac Agreement on February 2, 2022 and May 17, 2022, respectively, as discussed in Note 9, “Debt and Convertible Notes Payable” and Note 16, “Related Party Transactions,” the Company recognized contract assets of $10.0 million and $69.5 million, respectively, and associated fees of $3.6 million. As of September 30, 2024 and December 31, 2023, $63.8 million and $68.8 million, respectively, of the contract assets were classified as long term based upon our estimate of the forecasted revenues from the ProFrac Agreement which will not be realized within the next twelve months of the ProFrac Agreement. The Company’s estimate of the timing of the future contract revenues is evaluated on a quarterly basis. During the three months ended September 30, 2024 and 2023, the Company recognized $1.6 million and $1.3 million, respectively, of contract assets amortization which is recorded as a reduction of the transaction price included in the related party revenue in the consolidated statement of operations. During the nine months ended September 30, 2024 and 2023, the Company recognized $4.3 million and $3.7 million, respectively, of contract assets amortization. The below table reflects our estimated amortization per year (in thousands) based on the Company’s current forecasted revenues from the ProFrac Agreement. Years ending December 31, Amortization 2024 (excluding the nine months ended September 30, 2024) $ 1,499 2025 6,833 2026 8,868 2027 10,117 2028 10,117 Thereafter through May 2032 32,881 Total contract assets $ 70,315 Based on our tests of recoverability, we did not recognize any impairment of such contract assets as of September 30, 2024.

Contract Assets

Contract Assets	9 Months Ended
Contract Assets	Sep. 30, 2024
Revenue Recognition [Abstract]
Contract Assets	Revenue from Contracts with Customers Disaggregation of Revenue The Company differentiates revenue based on whether the source of revenue is attributable to product sales or service revenue. Product and service revenues include sales to related parties as described in Note 16, “Related Party Transactions.” Total revenue disaggregated by revenue source is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Revenue: Products $ 48,243 $ 45,865 $ 132,052 $ 141,695 Services 1,499 1,403 4,215 4,175 $ 49,742 $ 47,268 $ 136,267 $ 145,870 Disaggregation of Cost of Sales The Company differentiates cost of sales based on whether the cost is attributable to tangible goods sold, cost of services sold or other costs which cannot be directly attributable to either tangible goods or services. Total cost of sales disaggregated is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Cost of sales: Tangible goods sold $ 35,824 $ 33,350 $ 95,064 $ 116,755 Services 91 128 273 425 Other 4,708 4,743 13,822 13,857 $ 40,623 $ 38,221 $ 109,159 $ 131,037 Other cost of sales represent costs directly associated with the generation of revenue but which cannot be attributed directly to tangible goods sold or services. Examples of other costs of sales are certain personnel costs and equipment rental and insurance costs. Cost of sales, between external and related party, is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Cost of sales: Cost of sales for external customers $ 14,996 $ 14,399 $ 45,436 $ 42,471 Cost of sales for related parties 25,627 23,822 63,723 88,566 $ 40,623 $ 38,221 $ 109,159 $ 131,037 Contract assets are as follows (in thousands): September 30, 2024 December 31, 2023 Contract assets $ 83,060 $ 83,060 Less accumulated amortization (12,745) (8,404) Contract assets, net 70,315 74,656 Less current contract assets (6,480) (5,836) Contract assets, long term $ 63,835 $ 68,820 In connection with entering into the Initial ProFrac Agreement and Amended ProFrac Agreement on February 2, 2022 and May 17, 2022, respectively, as discussed in Note 9, “Debt and Convertible Notes Payable” and Note 16, “Related Party Transactions,” the Company recognized contract assets of $10.0 million and $69.5 million, respectively, and associated fees of $3.6 million. As of September 30, 2024 and December 31, 2023, $63.8 million and $68.8 million, respectively, of the contract assets were classified as long term based upon our estimate of the forecasted revenues from the ProFrac Agreement which will not be realized within the next twelve months of the ProFrac Agreement. The Company’s estimate of the timing of the future contract revenues is evaluated on a quarterly basis. During the three months ended September 30, 2024 and 2023, the Company recognized $1.6 million and $1.3 million, respectively, of contract assets amortization which is recorded as a reduction of the transaction price included in the related party revenue in the consolidated statement of operations. During the nine months ended September 30, 2024 and 2023, the Company recognized $4.3 million and $3.7 million, respectively, of contract assets amortization. The below table reflects our estimated amortization per year (in thousands) based on the Company’s current forecasted revenues from the ProFrac Agreement. Years ending December 31, Amortization 2024 (excluding the nine months ended September 30, 2024) $ 1,499 2025 6,833 2026 8,868 2027 10,117 2028 10,117 Thereafter through May 2032 32,881 Total contract assets $ 70,315 Based on our tests of recoverability, we did not recognize any impairment of such contract assets as of September 30, 2024.

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are as follows (in thousands): September 30, 2024 December 31, 2023 Raw materials $ 4,776 $ 5,299 Finished goods 13,318 13,660 Inventories 18,094 18,959 Less reserve for excess and obsolete inventory (5,350) (6,121) Inventories, net $ 12,744 $ 12,838 The additional reserves recorded for the CT segment during the three months ended September 30, 2024 and 2023 were $0.2 million and $0.1 million, respectively. The Company recorded additional reserves of $16 thousand for the three months ended September 30, 2023 for the DA segment with no corresponding activity for the same period of 2024. During the nine months ended September 30, 2024 and 2023, additional reserves recorded were $0.6 million and $0.5 million, respectively, for the CT segment and $13 thousand and $0.2 million, respectively, for the DA segment.

Property and Equipment

Property and Equipment	9 Months Ended
Property and Equipment	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment are as follows (in thousands): September 30, 2024 December 31, 2023 Land $ 886 $ 886 Land improvements 520 520 Buildings and leasehold improvements 5,520 5,483 Machinery and equipment 7,216 6,993 Furniture and fixtures 520 520 Transportation equipment 830 945 Computer equipment and software 1,926 1,696 Property and equipment 17,418 17,043 Less accumulated depreciation (12,460) (11,914) Property and equipment, net $ 4,958 $ 5,129 Depreciation expense totaled $0.2 million and $0.2 million for the three months ended September 30, 2024 a nd 2023, respectively, and $0.7 million and $0.5 million for the nine months ended September 30, 2024 a nd 2023, respectively.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2024
Leases [Abstract]
Leases	Leases The components of lease expense and supplemental cash flow information are as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Operating lease expense $ 640 $ 890 $ 2,176 $ 2,625 Finance lease expense: Amortization of assets 4 3 11 11 Interest on lease liabilities — 1 1 3 Total finance lease expense 4 4 12 14 Short-term lease expense 392 138 963 160 Total lease expense $ 1,036 $ 1,032 $ 3,151 $ 2,799 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,245 $ 1,331 $ 4,232 $ 4,246 Operating cash flows from finance leases 7 7 30 24 Financing cash flows from finance leases — 1 — 3 Maturities of lease liabilities as of September 30, 2024 are as follows (in thousands): Years ending December 31, Operating Leases 2024 (excluding the nine months ended September 30, 2024) $ 611 2025 2,117 2026 1,810 2027 1,741 2028 1,602 Thereafter 3,047 Total lease payments $ 10,928 Less: Interest (2,415) Present value of lease liabilities $ 8,513 Supplemental balance sheet information related to leases is as follows (in thousands): September 30, 2024 December 31, 2023 Operating Leases Operating lease right-of-use assets $ 3,759 $ 5,030 Current portion of operating lease liabilities 1,642 2,449 Long-term operating lease liabilities 6,871 7,676 Total operating lease liabilities $ 8,513 $ 10,125 Finance Leases Property and equipment $ — $ 147 Accumulated depreciation — (70) Property and equipment, net $ — $ 77 Current portion of finance lease liabilities $ — $ 22 Total finance lease liabilities $ — $ 22 Weighted Average Remaining Lease Term Operating leases 5.5 years 5.5 years Finance leases — 0.6 years Weighted Average Discount Rate Operating leases 9.5 % 9.5 % Finance leases — % 8.5 % Sublease Income On April 1, 2023, the Company entered into an agreement to sublease its office and lab space in Houston, Texas beginning September 1, 2023 and continuing until October 30, 2030. The rental income from the sublease is included in the Company’s statement of operations in Other income (expense), net, and offsets the monthly rental expense of $86 thousand from the Company’s lease of the facility. Sublease rental income for future years are as follows (in thousands): Years ending December 31, Rental Income 2024 (excluding the nine months ended September 30, 2024) $ 192 2025 767 2026 767 2027 767 2028 767 Thereafter 1,406 Total rental income $ 4,666
Leases	Leases The components of lease expense and supplemental cash flow information are as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Operating lease expense $ 640 $ 890 $ 2,176 $ 2,625 Finance lease expense: Amortization of assets 4 3 11 11 Interest on lease liabilities — 1 1 3 Total finance lease expense 4 4 12 14 Short-term lease expense 392 138 963 160 Total lease expense $ 1,036 $ 1,032 $ 3,151 $ 2,799 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,245 $ 1,331 $ 4,232 $ 4,246 Operating cash flows from finance leases 7 7 30 24 Financing cash flows from finance leases — 1 — 3 Maturities of lease liabilities as of September 30, 2024 are as follows (in thousands): Years ending December 31, Operating Leases 2024 (excluding the nine months ended September 30, 2024) $ 611 2025 2,117 2026 1,810 2027 1,741 2028 1,602 Thereafter 3,047 Total lease payments $ 10,928 Less: Interest (2,415) Present value of lease liabilities $ 8,513 Supplemental balance sheet information related to leases is as follows (in thousands): September 30, 2024 December 31, 2023 Operating Leases Operating lease right-of-use assets $ 3,759 $ 5,030 Current portion of operating lease liabilities 1,642 2,449 Long-term operating lease liabilities 6,871 7,676 Total operating lease liabilities $ 8,513 $ 10,125 Finance Leases Property and equipment $ — $ 147 Accumulated depreciation — (70) Property and equipment, net $ — $ 77 Current portion of finance lease liabilities $ — $ 22 Total finance lease liabilities $ — $ 22 Weighted Average Remaining Lease Term Operating leases 5.5 years 5.5 years Finance leases — 0.6 years Weighted Average Discount Rate Operating leases 9.5 % 9.5 % Finance leases — % 8.5 % Sublease Income On April 1, 2023, the Company entered into an agreement to sublease its office and lab space in Houston, Texas beginning September 1, 2023 and continuing until October 30, 2030. The rental income from the sublease is included in the Company’s statement of operations in Other income (expense), net, and offsets the monthly rental expense of $86 thousand from the Company’s lease of the facility. Sublease rental income for future years are as follows (in thousands): Years ending December 31, Rental Income 2024 (excluding the nine months ended September 30, 2024) $ 192 2025 767 2026 767 2027 767 2028 767 Thereafter 1,406 Total rental income $ 4,666

Accrued Liabilities

Accrued Liabilities	9 Months Ended
Accrued Liabilities	Sep. 30, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Current accrued liabilities are as follows (in thousands): September 30, 2024 December 31, 2023 Severance costs $ 372 $ 648 Payroll and benefits 2,063 2,138 Legal costs 45 37 Contingent liability for earn-out provision 11 56 Deferred revenue, current 452 550 Financed insurance 751 1,573 Other 421 888 Total current accrued liabilities $ 4,115 $ 5,890

Debt and Convertible Notes Paya

Debt and Convertible Notes Payable	9 Months Ended
Debt and Convertible Notes Payable	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt and Convertible Notes Payable	Debt and Convertible Notes Payable Asset Based Loan In August 2023, the Company entered into a 24-month revolving loan and security agreement in connection with an asset-based loan (the “ABL”). In connection with the second amendment to the ABL effective August 5, 2024, the maturity date was extended to August 2026, the credit availability was increased and the interest rate spread was reduced. The ABL is classified as current debt on our consolidated balance sheet due to the nature of the payment arrangements where the lender is paid from customer payments received into the Company’s collections account. As of September 30, 2024, the ABL provided up to $20.0 million of credit availability, which is limited by a borrowing base consisting of (i) 85% of eligible accounts receivable, plus (ii) 60% of the value of eligible inventory not to exceed 100% of the eligible accounts receivable, plus (iii) 60% of the value of certain real estate holdings. As of September 30, 2024, the Company had $1.4 million outstanding with approximately $12.0 million of available borrowings under the ABL. During the three and nine months ended September 30, 2024, the Company incurred $0.3 million and $0.7 million, respectively, in interest and fees related to the ABL. As of September 30, 2024, the Company recorded $0.2 million of amortized deferred financing costs related to the ABL. Borrowings under the ABL bear interest at the Wall Street Journal Prime Rate (subject to a floor of 5.5%) plus 2.0% per annum. The interest rate under the ABL was 10.0% as of September 30, 2024. The ABL contains an annual commitment fee equal to 1.0% of the ABL’s borrowing base. Additionally, the Company will be assessed a non-usage fee of 0.25% per quarter based on the difference between the average daily outstanding balance and the borrowing base limit of the ABL. If the ABL is terminated prior to the end of its term, the Company is required to pay an early termination fee of 2.50% of the borrowing base limit of the ABL (if terminated with more than 12 months remaining until the maturity date) or 1.50% of the borrowing base limit of the ABL (if terminated with less than 12 months remaining until the maturity date). The ABL contains customary representations, warranties, covenants and events of default, the occurrence of which would permit the lender to accelerate the payment of any amounts borrowed. The ABL requires the Company to maintain a minimum Tangible Net Worth (as defined in the ABL) of not less than $11 million. In addition, the ABL provides the lender a blanket security interest on all or substantially all of the Company’s assets. The Company was in compliance with all of the covenants under the ABL as of September 30, 2024. Paycheck Protection Program Loan In April 2020, the Company received a $4.8 million loan (the “Flotek PPP loan”) under the Paycheck Protection Program (“PPP”), which was created through the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and is administered by the U.S. Small Business Administration (“SBA”). In October 2021, the Flotek PPP loan maturity date was extended from April 15, 2022 to April 15, 2025. On January 5, 2023, the Company received notice from the SBA that $4.4 million of the $4.8 million principal amount and accrued interest to that date of $0.1 million were forgiven. The remaining principal amount of $0.4 million and accrued interest is to be repaid in monthly installments of $15 thousand over the remaining term of the loan through April 15, 2025. The forgiveness of the Flotek PPP loan was accounted for as an extinguishment of the debt and the Company recorded a $4.5 million gain in the nine months ended September 30, 2023, comprising the principal amount forgiven of $4.4 million and accrued interest of $0.1 million. Long-term debt, including current portion, is as follows (in thousands): September 30, 2024 December 31, 2023 Flotek PPP loan $ 104 $ 239 Less current maturities (104) (179) Total long-term debt, net of current portion $ — $ 60 Convertible Notes Payable On February 2, 2022, Flotek entered into a Private Investment in Public Equity transaction (the “PIPE transaction”) with a consortium of investors to secure growth capital for the Company. Pursuant to the PIPE transaction, Flotek issued $21.2 million in aggregate initial principal amount of Convertible Notes Payable for net cash proceeds of approximately $20.1 million (the “Convertible Notes Payable”). The investors were ProFrac Holdings, LLC, Burlington Ventures Ltd., entities associated with North Sound Management, certain funds associated with one of Flotek's former directors including the D3 Family Fund and the D3 Bulldog Fund, and Firestorm Capital LLC. The Convertible Notes Payable accrued paid-in-kind interest at a rate of 10% per annum, had a maturity of one year, and were convertible into common stock of Flotek or Pre-Funded Warrants to purchase common stock of Flotek, (a) at the holder's option at any time prior to maturity, at a price of $1.088125 per share on a pre-Reverse Stock Split basis, (b) at Flotek's option, if the volume-weighted average trading price of Flotek's common stock equals or exceeds $2.50 per share on a pre-Reverse Stock Split basis, or $1.741 per share on a pre-Reverse Stock Split basis, for 20 trading days during a 30 consecutive trading day period, or (c) at maturity, at a price of $0.8705 per share on a pre-Reverse Stock Split basis. On March 21, 2022, a portion of the Convertible Notes Payable, plus accrued paid-in-kind interest thereon, were converted at the holder’s option into shares of common stock. The issuance cost was amortized on a straight-line basis over the term of the Convertible Notes Payable and the amortization was included in interest expense in the unaudited condensed consolidated statements of operations. The carrying value was recorded as additional paid in capital. Upon maturity on February 2, 2023, the Convertible Notes Payable, excluding those held by ProFrac Holdings, LLC, with a carrying value of $9.0 million, including accrued paid-in-kind interest of $0.8 million, were converted on a pre-Reverse Stock Split basis into 10,335,840 shares of common stock (1,722,640 shares of the Company’s common stock on a post-Reverse Stock Split basis) at a price of $0.8705 per share. The Convertible Notes Payable held by ProFrac Holding, LLC, with a carrying value of $11.0 million, including accrued paid-in-kind interest of $1.0 million, were converted on a pre-Reverse Stock Split basis, upon maturity, into 12,683,280 February 2023 Warrants with an exercise price of $0.0001 per share and were recorded as additional paid in capital upon conversion. On September 6, 2023, the February 2023 Warrants were exercised and the Company issued, on a pre-Reverse Stock Split basis, 12,683,280 shares of the Company’s common stock (2,113,880 shares of the Company’s common stock on a post-Reverse Stock Split basis). Initial ProFrac Agreement Contract Consideration Convertible Notes Payable On February 2, 2022, the Company entered into a long-term supply agreement with ProFrac Services, LLC (the “Initial ProFrac Agreement”), a subsidiary of ProFrac Holdings LLC, in exchange for $10 million in aggregate principal amount of Contract Consideration Convertible Notes Payable (“Initial ProFrac Agreement Contract Consideration Convertible Notes Payable”), under the same terms as the Convertible Notes Payable issued in the PIPE transaction described above, including paid-in-kind interest at a rate of 10% per annum and conversion features. On February 2, 2023, the Initial ProFrac Agreement Contract Consideration Convertible Notes Payable, remeasured to and carried at a fair value of $15.1 million (see Note 10, “Fair Value Measurements”), were converted on a pre-Reverse Stock Split basis, upon maturity, into 12,683,281 February 2023 Warrants with an exercise price of $0.0001 per share and were recorded as additional paid in capital upon conversion. On September 6, 2023, the February 2023 Warrants were exercised and the Company issued, on a pre-Reverse Stock Split basis, 12,683,281 shares of the Company’s common stock (2,113,881 shares of the Company’s common stock on a post-Reverse Stock Split basis). Amended ProFrac Agreement Contract Consideration Convertible Notes Payable On May 17, 2022, the Company entered into an amendment to the Initial ProFrac Agreement (the “Amended ProFrac Agreement” and collectively with the Initial ProFrac Agreement, the “ProFrac Agreement”) upon issuance of $50 million in aggregate principal amount of Contract Consideration Convertible Notes Payable (“Amended ProFrac Agreement Contract Consideration Convertible Notes Payable”) to ProFrac. The Amended ProFrac Agreement Contract Consideration Convertible Notes Payable accrued paid-in-kind interest at a rate of 10% per annum.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company categorizes financial assets and liabilities into the three levels of the fair value hierarchy. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value and bases categorization within the hierarchy on the lowest level of input that is available and significant to the fair value measurement. • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Observable inputs other than Level 1, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3 — Significant unobservable inputs that are supported by little or no market activity or that are based on the reporting entity’s assumptions about the inputs. Fair Value of Other Financial Instruments The carrying amounts of certain financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, accrued liabilities, accounts payable and ABL approximate fair value due to the short-term nature of these accounts. Liabilities Measured at Fair Value on a Recurring Basis The following table presents the Company’s liabilities that are measured at fair value on a recurring basis and the level within the fair value hierarchy (in thousands): September 30, December 31, Level 1 Level 2 Level 3 2024 Level 1 Level 2 Level 3 2023 Contingent earnout consideration $ — $ — $ 11 $ 11 $ — $ — $ 56 $ 56 Total $ — $ — $ 11 $ 11 $ — $ — $ 56 $ 56 Contingent Earnout Consideration Key Inputs The estimated fair value of the remaining stock performance earn-out provision, with respect to the JP3 transaction, is included in accrued liabilities as of September 30, 2024 and December 31, 2023. The estimated fair value of the earn-out provision at the end of each period was valued using a Monte Carlo model analyzing 20,000 simulations performed using Geometric Brownian Motion with inputs such as risk-neutral expected growth and volatility. September 30, 2024 December 31, 2023 Risk-free interest rate 4.28 % 4.58 % Expected volatility 65.0 % 70.0 % Term until liquidation (years) 0.63 1.38 Stock price $ 4.98 $ 3.92 Discount rate 10.62 % 11.86 % Initial ProFrac Agreement Contract Consideration Notes Payable Key Inputs The Initial ProFrac Agreement Contract Consideration Convertible Notes Payable were measured at fair value at issuance and on a recurring basis. The Initial ProFrac Agreement Contract Consideration Convertible Notes Payable had an initial fair value of $10.0 million on February 2, 2022. On February 2, 2023, the Initial ProFrac Agreement Contract Consideration Convertible Notes Payable were remeasured, upon maturity, to a fair value of $15.1 million based on the pre-Reverse Stock Split closing price of the shares of common stock of $1.19, on the date of conversion. The fair value adjustment was a $0.8 million increase for the nine months ended September 30, 2023. Amended ProFrac Agreement Contract Consideration Convertible Notes Payable Key Inputs On May 17, 2022, the Company measured the Amended ProFrac Agreement Contract Consideration Convertible Notes Payable classified as Level 3 using a Monte Carlo simulation at an estimated fair value of $69.5 million. On May 17, 2023, the Amended ProFrac Agreement Contract Consideration Convertible Notes Payable were remeasured, at maturity using a Monte Carlo simulation, to a fair value of $40.6 million based on the pre-Reverse Stock Split closing price of the shares of common stock of $0.64, on the date of conversion resulting in a gain in fair value of Amended ProFrac Agreement Contract Consideration Convertible Note Payable of $30.8 million for the nine months ended September 30, 2023. Assets Measured at Fair Value on a Nonrecurring Basis The Company’s non-financial assets, including property and equipment and operating lease ROU assets, are measured at fair value on a non-recurring basis and are subject to adjustment to their fair value in certain circumstances. Level 3 Rollforward for Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents the changes in balances of liabilities for the three and nine months ended September 30, 2024 and 2023 classified as Level 3 (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Balance - beginning of period $ 30 $ 260 $ 56 $ 84,153 Increase in principal of Initial ProFrac Agreement Contract Consideration Convertible Notes Payable for paid-in-kind interest — — — 85 Increase in principal of Amended ProFrac Agreement Contract Consideration Convertible Notes Payable for paid-in-kind interest — — — 2,043 Change in fair value of contingent earnout consideration (19) (61) (45) (384) Change in fair value of Initial ProFrac Agreement Contract Consideration Convertible Notes Payable — — — 786 Change in fair value of Amended ProFrac Agreement Contract Consideration Convertible Notes Payable — — — (30,754) Conversion of Initial ProFrac Agreement Contract Consideration Convertible Notes Payable on maturity — — — (15,092) Conversion of Amended ProFrac Agreement Contract Consideration Convertible Notes Payable on maturity — — (40,638) Balance - end of period $ 11 $ 199 $ 11 $ 199

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax provision (benefit) differed from the amounts computed by applying the U.S. federal income tax rate of 21% to income (loss) before income tax for the reasons set forth below: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 U.S. federal statutory tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 1.5 6.1 4.7 % 0.4 Non-U.S. income taxed at different rates 5.8 7.3 (0.2) % 0.5 Increase (reduction) in tax benefit related to stock-based awards (0.3) 0.7 0.5 % 0.7 Change in valuation allowance (30.4) (5.6) (23.6) % (19.0) Permanent differences related to CARES Act — (16.7) — % (3.0) Non-deductible expenses 3.9 (6.6) 2.3 % (0.2) Effective income tax rate 1.5 % 6.2 % 4.7 % 0.4 % As of September 30, 2024, the Company had U.S. net operating loss carryforwards (“NOLs”) of $190.1 million, including $43.5 million expiring in various amounts from 2029 through 2037 which can offset 100% of taxable income and $146.6 million that has an indefinite carryforward period which can offset 80% of taxable income per year. Additionally, the Company has an estimated $91.2 million in certain state NOL carryforwards and $3.8 million in tax credit carryforwards. As a result of the ownership change experienced in 2023, the Company’s ability to use NOLs to reduce taxable income is generally limited by Section 382 of the Internal Revenue Code of 1986 to an annual amount of $3.5 million plus net unrealized built in gain of $24.5 million. The Company’s use of NOLs arising after the date of the ownership change are not impacted by the Section 382 limitation. NOLs that exceed the Section 382 limitation in any year continue to be allowed as carryforwards until they expire and can be used to offset taxable income for years within the carryover period subject to the limitation in each year. If the Company does not generate a sufficient level of taxable income prior to the expiration of the pre-2018 NOL carryforward periods, then the ability to apply those NOLs as offsets to future taxable income is lost. Based on an analysis of the Section 382 limitation, the Company estimates that all carryforwards with the exception of $1.0 million of the state NOL carryforwards and $3.8 million of the tax credit carryforwards will be available for utilization if there is sufficient taxable income in subsequent periods. Although the ownership change will significantly limit the ability of the Company to utilize the pre-change net operating losses and credits, the Company does not expect a significant impact to its financial statements given the valuation allowance that is recorded to estimate the realizability of the deferred tax assets.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company is subject to routine litigation and other claims that arise in the normal course of business. Management is not aware of any pending or threatened lawsuits or proceedings that are expected to have a material effect on the Company’s financial position, results of operations or liquidity. Other Commitments and Contingencies The Company is subject to concentrations of credit risk within trade accounts receivable and related party accounts receivable, as the Company does not generally require collateral as support for trade receivables. In addition, the majority of the Company’s cash is invested in three major U.S. financial institutions and balances often exceed insurable amounts.

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
Stockholders’ Equity	Sep. 30, 2024
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity Reverse stock split On September 14, 2023, the Company announced that the Board of Directors approved a reverse stock split of its common stock at a ratio of 1-to-6 (“Reverse Stock Split”). The Reverse Stock Split was completed on September 25, 2023 and resulted in 184,438,695 issued and outstanding shares of common stock being converted into 30,739,820 shares of common stock. The Reverse Stock Split had no effect on the par value or on the number of authorized shares of common stock. The Company issued one whole share of common stock to any shareholder that would have received a fractional share as a result of the Reverse Stock Split. Therefore, no fractional shares were issued in connection with the Reverse Stock Split and no cash or other consideration was paid in connection with any fractional shares that resulted from the Reverse Stock Split. The Company adjusted the number of outstanding shares of common stock and treasury stock on the consolidated balance sheet and in the statement of changes in stockholders’ equity for all periods presented to reflect the impacts of the Reverse Stock Split. Where we disclose the number of shares of common stock within the footnotes to the consolidated financial statements we have presented both the pre-Reverse Stock Split and post-Reverse Stock Split amount as denoted. Unless otherwise noted, all references in the consolidated financial statements and notes to condensed consolidated financial statements to the number of shares, per share data, restricted stock and stock option data have been retroactively adjusted to give effect to the Reverse Stock Split. Conversion of Convertible Notes Payable On February 2, 2023, the Convertible Notes Payable pursuant to the PIPE transaction discussed in Note 9, “Debt and Convertible Notes Payable,” excluding those held by ProFrac Holdings, LLC, were converted on a pre-Reverse Stock Split basis, upon maturity, into 10,335,840 shares of common stock (1,722,640 shares of common stock on a post-Reverse Stock Split basis) at a price of $0.8705 per share. The Convertible Notes Payable converted into common stock shares had a carrying value of $9.0 million, including accrued paid-in-kind interest of $0.8 million and were recorded as additional paid-in-capital upon conversion. The Convertible Notes Payable held by ProFrac Holding, LLC, with a carrying value of $11.0 million, including accrued interest of $1.0 million, were converted on a pre-Reverse Stock Split basis, upon maturity, into 12,683,280 February 2023 Warrants with an exercise price of $0.0001 per share and were recorded as additional paid-in-capital upon conversion. On September 6, 2023, the February 2023 Warrants issued upon the conversion of the Convertible Notes Payable held by ProFrac Holding, LLC were exercised and the Company issued, on a pre-Reverse Stock Split basis, 12,683,280 shares of the Company’s common stock (2,113,880 shares of the Company’s common stock on a post-Reverse Stock Split basis). On February 2, 2023, the Initial ProFrac Agreement Contract Consideration Convertible Notes Payable discussed in Note 9, “Debt and Convertible Notes Payable,” remeasured to a fair value of $15.1 million upon maturity, were converted on a pre-Reverse Stock Split basis, into 12,683,281 February 2023 Warrants and were recorded as additional paid-in-capital upon conversion. On September 6, 2023, the February 2023 Warrants issued upon the conversion of the Initial ProFrac Agreement Contract Consideration Convertible Notes Payable were exercised and the Company issued on a pre-Reverse Stock Split basis, 12,683,281 shares of the Company’s common stock (2,113,881 shares of the Company’s common stock on a post-Reverse Stock Split basis). On May 17, 2023, the Amended ProFrac Agreement Contract Consideration Convertible Notes Payable discussed in Note 9, “Debt and Convertible Notes Payable”, were converted on a pre-Reverse Stock Split basis, upon maturity, into 63,496,922 shares of common stock at a price of $0.8705 per share (10,582,821 shares of common stock on a post-Reverse Stock Split basis). The Contract Consideration Convertible Notes Payable converted into common stock shares, remeasured to a fair value of $40.6 million upon maturity, were recorded as additional paid-in-capital. Pre-Funded Warrants On June 21, 2022, ProFrac Holdings II, LLC paid $19.5 million for Pre-Funded Warrants (the “June 2022 Warrants”) of the Company. The June 2022 Warrants permit ProFrac Holdings II, LLC to purchase on a pre-Reverse Stock Split basis 13,104,839 shares of common stock of the Company (2,184,140 shares of the Company’s common stock on a post-Reverse Stock Split basis) at an exercise price equal to $0.0001 per share, subject to a $4.5 million exercise fee.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
Earnings (Loss) Per Share	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period, which includes the February 2023 Warrants (See Note 9, “Debt and Convertible Notes Payable” and Note 13, “Stockholders’ Equity”). Diluted earnings (loss) per common share is calculated by dividing the adjusted net income (loss) by the weighted average number of common shares outstanding combined with dilutive common share equivalents outstanding, if the effect is dilutive. Potentially dilutive common share equivalents consist of incremental shares of common stock issuable upon conversion of convertible notes payable, exercise of stock warrants and vesting and settlement of stock awards. The dilutive effect of non-vested stock issued under share‑based compensation plans, shares issuable under the Employee Stock Purchase Plan (ESPP), employee stock options outstanding, and the Pre-Funded stock warrants are computed using the treasury stock method. The dilutive effect of the Convertible Notes is computed using the if‑converted method. For all periods presented in the table below, weighted average shares and earnings (loss) per share reflect the effects of the Reverse Stock Split. The calculation of the basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2024 and 2023 is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Numerator: Net income for basic earnings per share $ 2,532 $ 1,287 $ 6,068 $ 22,609 Adjustments to net income available to shareholders Paid-in-Kind interest expense on convertible notes payable and Contract Consideration Convertible Notes Payable — — — 2,284 Valuation gain on Contract Consideration Convertible Notes Payable carried at fair value — — — (29,969) Adjusted net income (loss) for diluted earnings per share $ 2,532 $ 1,287 $ 6,068 $ (5,076) Denominator: Basic weighted average shares outstanding 29,613 29,358 29,498 23,291 Dilutive effect of convertible notes payable — — — 4,743 Dilutive effect of warrants outstanding 1,190 1,238 1,029 — Dilutive effect of stock options and restricted shares 94 92 128 — Diluted weighted average shares outstanding 30,897 30,688 30,655 28,034 Basic earnings per share $ 0.09 $ 0.04 $ 0.21 $ 0.97 Diluted earnings (loss) per share $ 0.08 $ 0.04 $ 0.20 $ (0.18) Anti-dilutive incremental shares excluded from denominator for diluted earnings computation Average number of diluted shares for June 2022 stock warrants (1) — — — 1,308 Average number of diluted shares for options and restricted stock (1) — — — 111 (1) These items were not included in the dilution calculation for the nine months ended September 30, 2023 due to their anti-dilutive effect as it would reduce the loss per share.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
Supplemental Cash Flow Information	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Supplemental cash flow information is as follows (in thousands): Nine months ended September 30, 2024 2023 Supplemental cash flow information: Interest paid $ 654 $ 36 Income taxes 50 — Supplemental non cash financing and investing activities: Conversion of convertible notes payable to common stock — 8,996 Conversion of convertible notes payable to February 2023 Warrants — 11,040 Conversion of Initial Contract Consideration Convertible Notes Payable to February 2023 Warrants — 15,092 Conversion of Amended Contract Consideration Convertible Notes Payable to common stock — 40,638

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions On February 2, 2022, the Company entered into the Initial ProFrac Agreement, upon issuance of $10 million in aggregate principal amount of the convertible notes (the “Contract Consideration Convertible Notes Payable”) to ProFrac Holdings LLC (see Note 9, “Debt and Convertible Notes Payable”). Under the Initial ProFrac Agreement, ProFrac Services, LLC is obligated to order chemicals from the Company at least equal to the greater of (a) the chemicals required for 33% of ProFrac Services, LLC’s hydraulic fracturing fleets and (b) a baseline measured by the first ten hydraulic fracturing fleets deployed by ProFrac Services, LLC during the term of the Initial ProFrac Agreement. If the minimum volumes are not achieved in any given year, ProFrac Services LLC shall pay to the Company, as liquidated damages an amount equal to twenty-five percent (25%) of the difference between (i) the aggregate purchase price of the quantity of products comprising the minimum purchase obligation and (ii) the actual purchased volume during such calendar year (“Contract Shortfall Fees”). On May 17, 2022, the Company entered into the Amended ProFrac Agreement upon issuance of $50 million in aggregate principal amount of Contract Consideration Convertible Notes Payable (see Note 9, “Debt and Convertible Notes Payable”). The Initial ProFrac Agreement was amended to (a) increase ProFrac Services LLC’s minimum purchase obligation for each year to the greater of 70% of ProFrac Services LLC’s requirements and a baseline measured by ProFrac Services, LLC’s first 30 hydraulic fracturing fleets, and (b) increase the term to 10 years. On February 2, 2023, the Company entered into an amendment to the ProFrac Agreement (the “Amended ProFrac Agreement No. 2”). The Amended ProFrac Agreement No. 2 has an effective date of January 1, 2023. The ProFrac Agreement was amended to (1) provide a ramp-up period from January 1, 2023 to May 31, 2023 for ProFrac Services, LLC to increase the number of active hydraulic fracturing fleets to 30 fleets, (2) waive any Contract Shortfall Fee payment relating to any potential order shortfall prior to January 1, 2023, (3) add additional fees to certain products, and (4) provide margin increases based on margins with non-ProFrac customers. The current measurement period for Contract Shortfall Fees is January 1, 2024 through December 31, 2024. The Company does not expect that the minimum purchase requirements will be met during the current measurement period, and as a result, related party revenues for the nine months ended September 30, 2024 reflect variable consideration for Contract Shortfall Fees of $23.8 million, which will be due in the first quarter of 2025 under the terms of the ProFrac Agreement. The measurement period for 2023 was June 1, 2023 through December 31, 2023. Related party revenues for the nine months ended September 30, 2023 included $10.0 million of Contract Shortfall Fees. On February 2, 2023, the Convertible Notes Payable held by ProFrac Holding, LLC, with a carrying value of $11.0 million, including accrued paid-in-kind interest of $1.0 million, were converted on a pre-Reverse Stock Split basis, upon maturity, into 12,683,280 February 2023 Warrants (see Note 9, “Debt and Convertible Notes Payable” and Note 13, “Stockholders’ Equity”) and subsequently exercised on September 6, 2023. On February 2, 2023, the Initial ProFrac Agreement Contract Consideration Convertible Notes Payable, with a carrying value of $11.0 million, including accrued interest of $1.0 million, were converted on a pre-Reverse Stock Split basis, upon maturity, into 12,683,281 February 2023 Warrants and subsequently exercised on September 6, 2023 (see Note 9, “Debt and Convertible Notes Payable” and Note 13, “Stockholders’ Equity”). The fair value of the Initial ProFrac Agreement Contract Consideration Convertible Notes Payable, as of February 2, 2023, was $15.1 million (see Note 10, “Fair Value Measurements”). On May 17, 2023, the Amended ProFrac Agreement Contract Consideration Convertible Notes Payable were converted on a pre-Reverse Stock Split basis, upon maturity, into 63,496,922 shares of common stock at a price of $0.8705 per share (see Note 9, “Debt and Convertible Notes Payable” and Note 13, “Stockholders’ Equity”). The fair value of the Amended ProFrac Agreement Contract Consideration Convertible Notes Payable, as of May 17, 2023 was $40.6 million (see Note 10, “Fair Value Measurements”). As a result of the Reverse Stock Split, these shares were converted into 10,582,821 common shares. During the three months ended September 30, 2024 and 2023, the Company’s revenues from ProFrac Services, LLC were $33.2 million and $29.5 million , respectively. For the three months ended September 30, 2024 and 2023, these revenues were net of amortization of contract assets of $1.6 million and $1.3 million , respectively . Cost of sales attributable to these revenues were $25.6 million and $23.8 million, respectively, for the three months ended September 30, 2024 and 2023. During the nine months ended September 30, 2024 and 2023, the Company’s revenues from ProFrac Services, LLC were $88.3 million and $98.6 million, respectively. For the nine months ended September 30, 2024 and 2023, these revenues were net of amortization of contract assets of $4.3 million and $3.7 million , respectively . Cost of sales attributable to these revenues were $63.7 million and $88.6 million, respectively, for the nine months ended September 30, 2024 and 2023. As of September 30, 2024 and December 31, 2023 our accounts receivable from ProFrac Services, LLC was $47.1 million and $34.6 million , respectively, which is recorded in accounts receivable, related party on the consolidated balance sheet. During the

Business Segment, Geographic an

Business Segment, Geographic and Major Customer Information	9 Months Ended
Business Segment, Geographic and Major Customer Information	Sep. 30, 2024
Segment Reporting [Abstract]
Business Segment, Geographic and Major Customer Information	Business Segment, Geographic and Major Customer Information Segment Information Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the chief operating decision-maker in deciding how to allocate resources and assess performance. The operations of the Company are categorized into the following reportable segments: Chemistry Technologies. The CT segment includes green specialty chemistries, logistics and technology services, which enable its customers to pursue improved efficiencies and performance throughout the life cycle of their wells, and also helping customers improve their ESG and operational goals. Customers of the CT segment include major integrated oil and gas companies, oilfield services companies, independent oil and gas companies, national and state-owned oil companies, and international supply chain management companies . Data Analytics. The DA segment includes the design, development, production, sale and support of equipment and services that create and provide valuable information on the composition and properties of energy customers’ hydrocarbon fluids. The company markets products and services that support in-line data analysis of hydrocarbon components and properties. Customers of the DA segment span across the entire oil and gas market, from upstream production to midstream facilities to refineries and distribution networks. Performance is based upon a variety of criteria. The primary financial measure is segment operating income (loss). Various functions, including certain sales and marketing activities and general and administrative activities, are provided centrally by the corporate office. Costs associated with corporate office functions, other corporate income and expense items, and income taxes are not allocated to the reportable segments. Summarized financial information of the reportable segments is as follows (in thousands): As of and for the three months ended September 30, Chemistry Technologies Data Analytics Corporate and Other Total 2024 Revenue from external customers Products $ 13,600 $ 1,681 $ — $ 15,281 Services 497 787 — 1,284 Total revenue from external customers 14,097 2,468 — 16,565 Revenue from related party Products 32,962 — — 32,962 Services 15 200 — 215 Total revenue from related parties 32,977 200 — 33,177 Gross profit 7,944 1,175 — 9,119 Income (loss) from operations 5,559 130 (2,966) 2,723 Depreciation 156 37 27 220 Interest expense — — 256 256 Income tax — — 37 37 Additions to long-lived assets 158 71 33 262 2023 Revenue from external customers Products $ 15,764 $ 1,025 $ — $ 16,789 Services 562 455 — 1,017 Total revenue from external customers 16,326 1,480 — 17,806 Revenue from related party Products 29,076 — — 29,076 Services 176 210 386 Total revenue from related parties 29,252 210 — 29,462 Gross profit 8,240 807 — 9,047 Income (loss) from operations 5,519 (37) (3,863) 1,619 Depreciation 149 26 6 181 Interest expense — — 160 160 Income tax — — 81 81 Additions to long-lived assets — 135 — 135 As of and for the nine months ended September 30, Chemistry Technologies Data Analytics Corporate and Other Total 2024 Revenue from external customers Products $ 40,427 $ 3,920 $ — $ 44,347 Services 1,716 1,872 — 3,588 Total revenue from external customers 42,143 5,792 — 47,935 Revenue from related party Products 87,705 — — 87,705 Services 27 600 — 627 Total revenue from related parties 87,732 600 — 88,332 Gross profit 24,888 2,220 — 27,108 Income (loss) from operations 17,810 (652) (10,106) 7,052 Depreciation 475 108 79 662 Interest expense — — 842 842 Income tax — — 293 293 Additions to long-lived assets 333 105 53 491 2023 Revenue from external customers Products $ 39,150 $ 4,586 $ — $ 43,736 Services 1,870 1,672 — 3,542 Total revenue from external customers 41,020 6,258 — 47,278 Revenue from related party Products 97,956 2 — 97,958 Services 179 455 — 634 Total revenue from related parties 98,135 457 — 98,592 Gross profit 11,279 3,554 — 14,833 Change in fair value of Contract Consideration Convertible Notes Payable (29,969) — — (29,969) Income (loss) from operations 32,694 550 (12,440) 20,804 Paid-in-kind interest on Contract Consideration Convertible Notes Payable 2,129 — — 2,129 Paid-in-kind interest on convertible notes payable — — 155 155 Depreciation 462 61 7 530 Other interest expense — — 253 253 Income tax — — 98 98 Additions to long-lived assets 30 230 32 292 Assets of the Company by reportable segments are as follows (in thousands): September 30, 2024 December 31, 2023 Chemistry Technologies $ 143,399 $ 138,559 Data Analytics 7,917 6,604 Corporate and Other 9,333 12,350 Total assets $ 160,649 $ 157,513 Geographic Information Revenue by country is based on the location where services are provided and products are sold. For the three and nine months ended September 30, 2024 and 2023 no country other than the U.S. accounted for more than 10% of revenue. Revenue by geographic location is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 U.S. (1) $ 48,498 $ 46,401 $ 131,763 $ 141,251 UAE 592 635 3,136 3,547 Other countries 652 232 1,368 1,072 Total revenue $ 49,742 $ 47,268 $ 136,267 $ 145,870 (1) Includes revenue from related party Long-lived assets held in countries other than the U.S. are not considered material to the consolidated financial statements. Major Customers Revenue from major customers, as a percentage of consolidated revenue, is as follows (in thousands): Revenue % of Total Revenue Three months ended September 30, 2024 ProFrac Services, LLC $ 33,177 66.7 % Three months ended September 30, 2023 ProFrac Services, LLC $ 29,462 62.3 % Revenue % of Total Revenue Nine months ended September 30, 2024 ProFrac Services, LLC $ 88,332 64.8 % Nine months ended September 30, 2023 ProFrac Services, LLC $ 98,592 67.6 % The concentration with ProFrac Services, LLC and in the oil and gas industry increases credit, commodity and business risk . Major Suppliers Expenditure with major suppliers, as a percentage of consolidated supplier expenditure, is as follows (in thousands): Three months ended September 30, Expenditure % of Total Expenditure 2024 Supplier A $ 8,885 24.6 % Supplier B 5,187 14.4 % Supplier C 4,348 12.1 % Supplier D 3,782 10.5 % 2023 Supplier A $ 6,094 25.3 % Supplier B 5,581 23.2 % Supplier C 4,197 17.4 % Nine months ended September 30, Expenditure % of Total Expenditure 2024 Supplier B $ 16,885 17.8 % Supplier A 16,639 17.5 % Supplier C 16,583 17.5 % 2023 Supplier A $ 36,318 32.5 % Supplier B 21,752 19.5 % Supplier C 13,151 11.8 %

Subsequent Event

Subsequent Event	9 Months Ended
Subsequent Event	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event The Company has evaluated the effects of events that have occurred subsequent to September 30, 2024 through November 7, 2024, the date at which the Company’s interim financial statements are available to be issued, and has determined that there have been no material events that would require recognition in the September 30, 2024 interim financial statements or disclosure in the notes to the interim financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
Consolidation	All significant intercompany accounts and transactions have been eliminated in consolidation. The Company does not have investments in any unconsolidated subsidiaries.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”). We evaluate the applicability and impact of all authoritative guidance issued by the FASB. Guidance not listed below was assessed and determined to be either not applicable, clarifications of items listed below, immaterial or already adopted by the Company. New Accounting Standards Issued and Not Adopted as of September 30, 2024 The FASB issued Accounting Standards Update (“ASU”) No. 2023-07, “Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures.” This standard improves reportable segment disclosure requirements through enhanced disclosures around significant segment expenses. The amendments under this standard require interim and annual disclosures of significant segment expenses regularly provided to the chief operating decision maker (“CODM”). In addition, public entities are required to disclose the amount of “other segment items” by segment and their composition; make annual disclosures about a reportable segment’s profit/loss and assets; and clarify if the CODM uses more than one measure of a segment’s profit or loss in assessing performance and resource allocation and disclose the name and title of the CODM. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted and the amendments are applied retrospectively to all prior periods presented. The Company is currently evaluating the impact of the adoption of the ASU on the related disclosures. The FASB issued ASU No. 2023-09, “ Improvements to Income Tax Disclosures” (“ASU 2023-09”). The amendments under ASU 2023-09 were created as a response to requests from investors, lenders, creditors and other parties to enhance transparency and effectiveness of tax disclosures to help them better assess how an entity’s operations and related tax risks affect an entity’s tax rate and potential future cash flows. ASU 2023-09 requires that entities annually disclose the amount of taxes paid (net of refunds received) disaggregated by federal, state and foreign jurisdictions and that those amounts are also disaggregated by individual jurisdictions equal to or greater than 5% of total income taxes paid (net of funds received). ASU 2023-09 adds a requirement that entities disaggregate income (loss) from continuing operations before income tax expense (benefit) between domestic and foreign. The amendments also require entities to disaggregate income tax expense (benefit) by federal, state and foreign jurisdictions. The amendments under ASU 2023-09 also remove certain prior requirements. Public business entities are no longer required to disclose the nature and estimate of change in the unrecognized tax benefits balance in the next 12 months or make a statement that an estimate cannot be determined. In addition, public business entities are no longer required to disclose the cumulative amount of each type of temporary difference for which a deferred tax liability has not been recognized due to the exception to recognizing deferred taxes related to subsidiaries and corporate joint ventures. ASU 2023-09 goes into effect for annual periods beginning after December 15, 2024 and early adoption is permitted for annual financial statements not yet issued or made available for issuance. Adoption of the ASU is on a prospective basis, with the option to apply retrospectively. The Company is currently evaluating the impact of the adoption of the ASU on the related disclosures.
Fair Value Measurements	Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company categorizes financial assets and liabilities into the three levels of the fair value hierarchy. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value and bases categorization within the hierarchy on the lowest level of input that is available and significant to the fair value measurement. • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Observable inputs other than Level 1, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3 — Significant unobservable inputs that are supported by little or no market activity or that are based on the reporting entity’s assumptions about the inputs.
Earnings (Loss) Per Share	Basic earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period, which includes the February 2023 Warrants (See Note 9, “Debt and Convertible Notes Payable” and Note 13, “Stockholders’ Equity”). Diluted earnings (loss) per common share is calculated by dividing the adjusted net income (loss) by the weighted average number of common shares outstanding combined with dilutive common share equivalents outstanding, if the effect is dilutive. Potentially dilutive common share equivalents consist of incremental shares of common stock issuable upon conversion of convertible notes payable, exercise of stock warrants and vesting and settlement of stock awards. The dilutive effect of non-vested stock issued under share‑based compensation plans, shares issuable under the Employee Stock Purchase Plan (ESPP), employee stock options outstanding, and the Pre-Funded stock warrants are computed using the treasury stock method. The dilutive effect of the Convertible Notes is computed using the if‑converted method.
Segment Information	Segment Information Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the chief operating decision-maker in deciding how to allocate resources and assess performance. The operations of the Company are categorized into the following reportable segments: Chemistry Technologies. The CT segment includes green specialty chemistries, logistics and technology services, which enable its customers to pursue improved efficiencies and performance throughout the life cycle of their wells, and also helping customers improve their ESG and operational goals. Customers of the CT segment include major integrated oil and gas companies, oilfield services companies, independent oil and gas companies, national and state-owned oil companies, and international supply chain management companies . Data Analytics. The DA segment includes the design, development, production, sale and support of equipment and services that create and provide valuable information on the composition and properties of energy customers’ hydrocarbon fluids. The company markets products and services that support in-line data analysis of hydrocarbon components and properties. Customers of the DA segment span across the entire oil and gas market, from upstream production to midstream facilities to refineries and distribution networks. Performance is based upon a variety of criteria. The primary financial measure is segment operating income (loss). Various functions, including certain sales and marketing activities and general and administrative activities, are provided centrally by the corporate office. Costs associated with corporate office functions, other corporate income and expense items, and income taxes are not allocated to the reportable segments.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Allowance for Doubtful Accounts for Continuing Operations	Changes in the allowance for credit losses are as follows (in thousands): September 30, 2024 December 31, 2023 Balance, beginning of year $ 745 $ 623 Charges to provision for credit losses, net of recoveries 121 138 Write-offs (478) (16) Balance, end of period $ 388 $ 745

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
Revenue from Contracts with Customers (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Total revenue disaggregated by revenue source is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Revenue: Products $ 48,243 $ 45,865 $ 132,052 $ 141,695 Services 1,499 1,403 4,215 4,175 $ 49,742 $ 47,268 $ 136,267 $ 145,870 Disaggregation of Cost of Sales The Company differentiates cost of sales based on whether the cost is attributable to tangible goods sold, cost of services sold or other costs which cannot be directly attributable to either tangible goods or services. Total cost of sales disaggregated is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Cost of sales: Tangible goods sold $ 35,824 $ 33,350 $ 95,064 $ 116,755 Services 91 128 273 425 Other 4,708 4,743 13,822 13,857 $ 40,623 $ 38,221 $ 109,159 $ 131,037 Other cost of sales represent costs directly associated with the generation of revenue but which cannot be attributed directly to tangible goods sold or services. Examples of other costs of sales are certain personnel costs and equipment rental and insurance costs. Cost of sales, between external and related party, is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Cost of sales: Cost of sales for external customers $ 14,996 $ 14,399 $ 45,436 $ 42,471 Cost of sales for related parties 25,627 23,822 63,723 88,566 $ 40,623 $ 38,221 $ 109,159 $ 131,037

Contract Assets (Tables)

Contract Assets (Tables)	9 Months Ended
Contract Assets (Tables)	Sep. 30, 2024
Revenue Recognition [Abstract]
Schedule of Outstanding Contract Assets	Contract assets are as follows (in thousands): September 30, 2024 December 31, 2023 Contract assets $ 83,060 $ 83,060 Less accumulated amortization (12,745) (8,404) Contract assets, net 70,315 74,656 Less current contract assets (6,480) (5,836) Contract assets, long term $ 63,835 $ 68,820 Years ending December 31, Amortization 2024 (excluding the nine months ended September 30, 2024) $ 1,499 2025 6,833 2026 8,868 2027 10,117 2028 10,117 Thereafter through May 2032 32,881 Total contract assets $ 70,315

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Components of Inventory	Inventories are as follows (in thousands): September 30, 2024 December 31, 2023 Raw materials $ 4,776 $ 5,299 Finished goods 13,318 13,660 Inventories 18,094 18,959 Less reserve for excess and obsolete inventory (5,350) (6,121) Inventories, net $ 12,744 $ 12,838

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
Property and Equipment (Tables)	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment are as follows (in thousands): September 30, 2024 December 31, 2023 Land $ 886 $ 886 Land improvements 520 520 Buildings and leasehold improvements 5,520 5,483 Machinery and equipment 7,216 6,993 Furniture and fixtures 520 520 Transportation equipment 830 945 Computer equipment and software 1,926 1,696 Property and equipment 17,418 17,043 Less accumulated depreciation (12,460) (11,914) Property and equipment, net $ 4,958 $ 5,129

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Leases [Abstract]
Schedule of Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense and supplemental cash flow information are as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Operating lease expense $ 640 $ 890 $ 2,176 $ 2,625 Finance lease expense: Amortization of assets 4 3 11 11 Interest on lease liabilities — 1 1 3 Total finance lease expense 4 4 12 14 Short-term lease expense 392 138 963 160 Total lease expense $ 1,036 $ 1,032 $ 3,151 $ 2,799 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,245 $ 1,331 $ 4,232 $ 4,246 Operating cash flows from finance leases 7 7 30 24 Financing cash flows from finance leases — 1 — 3
Schedule of Maturities of Operating Leases Liabilities	Maturities of lease liabilities as of September 30, 2024 are as follows (in thousands): Years ending December 31, Operating Leases 2024 (excluding the nine months ended September 30, 2024) $ 611 2025 2,117 2026 1,810 2027 1,741 2028 1,602 Thereafter 3,047 Total lease payments $ 10,928 Less: Interest (2,415) Present value of lease liabilities $ 8,513
Schedule of Maturities of Finance Leases Liabilities	Maturities of lease liabilities as of September 30, 2024 are as follows (in thousands): Years ending December 31, Operating Leases 2024 (excluding the nine months ended September 30, 2024) $ 611 2025 2,117 2026 1,810 2027 1,741 2028 1,602 Thereafter 3,047 Total lease payments $ 10,928 Less: Interest (2,415) Present value of lease liabilities $ 8,513
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases is as follows (in thousands): September 30, 2024 December 31, 2023 Operating Leases Operating lease right-of-use assets $ 3,759 $ 5,030 Current portion of operating lease liabilities 1,642 2,449 Long-term operating lease liabilities 6,871 7,676 Total operating lease liabilities $ 8,513 $ 10,125 Finance Leases Property and equipment $ — $ 147 Accumulated depreciation — (70) Property and equipment, net $ — $ 77 Current portion of finance lease liabilities $ — $ 22 Total finance lease liabilities $ — $ 22 Weighted Average Remaining Lease Term Operating leases 5.5 years 5.5 years Finance leases — 0.6 years Weighted Average Discount Rate Operating leases 9.5 % 9.5 % Finance leases — % 8.5 %
Schedule of Future Sublease Rental Income	Sublease rental income for future years are as follows (in thousands): Years ending December 31, Rental Income 2024 (excluding the nine months ended September 30, 2024) $ 192 2025 767 2026 767 2027 767 2028 767 Thereafter 1,406 Total rental income $ 4,666

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
Accrued Liabilities (Tables)	Sep. 30, 2024
Payables and Accruals [Abstract]
Schedule of Current Accrued Liabilities	Current accrued liabilities are as follows (in thousands): September 30, 2024 December 31, 2023 Severance costs $ 372 $ 648 Payroll and benefits 2,063 2,138 Legal costs 45 37 Contingent liability for earn-out provision 11 56 Deferred revenue, current 452 550 Financed insurance 751 1,573 Other 421 888 Total current accrued liabilities $ 4,115 $ 5,890

Debt and Convertible Notes Pa_2

Debt and Convertible Notes Payable (Tables)	9 Months Ended
Debt and Convertible Notes Payable (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt, including current portion, is as follows (in thousands): September 30, 2024 December 31, 2023 Flotek PPP loan $ 104 $ 239 Less current maturities (104) (179) Total long-term debt, net of current portion $ — $ 60

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements, Recurring	The following table presents the Company’s liabilities that are measured at fair value on a recurring basis and the level within the fair value hierarchy (in thousands): September 30, December 31, Level 1 Level 2 Level 3 2024 Level 1 Level 2 Level 3 2023 Contingent earnout consideration $ — $ — $ 11 $ 11 $ — $ — $ 56 $ 56 Total $ — $ — $ 11 $ 11 $ — $ — $ 56 $ 56
Schedule of Valuation Techniques	September 30, 2024 December 31, 2023 Risk-free interest rate 4.28 % 4.58 % Expected volatility 65.0 % 70.0 % Term until liquidation (years) 0.63 1.38 Stock price $ 4.98 $ 3.92 Discount rate 10.62 % 11.86 %
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents the changes in balances of liabilities for the three and nine months ended September 30, 2024 and 2023 classified as Level 3 (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Balance - beginning of period $ 30 $ 260 $ 56 $ 84,153 Increase in principal of Initial ProFrac Agreement Contract Consideration Convertible Notes Payable for paid-in-kind interest — — — 85 Increase in principal of Amended ProFrac Agreement Contract Consideration Convertible Notes Payable for paid-in-kind interest — — — 2,043 Change in fair value of contingent earnout consideration (19) (61) (45) (384) Change in fair value of Initial ProFrac Agreement Contract Consideration Convertible Notes Payable — — — 786 Change in fair value of Amended ProFrac Agreement Contract Consideration Convertible Notes Payable — — — (30,754) Conversion of Initial ProFrac Agreement Contract Consideration Convertible Notes Payable on maturity — — — (15,092) Conversion of Amended ProFrac Agreement Contract Consideration Convertible Notes Payable on maturity — — (40,638) Balance - end of period $ 11 $ 199 $ 11 $ 199

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The income tax provision (benefit) differed from the amounts computed by applying the U.S. federal income tax rate of 21% to income (loss) before income tax for the reasons set forth below: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 U.S. federal statutory tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 1.5 6.1 4.7 % 0.4 Non-U.S. income taxed at different rates 5.8 7.3 (0.2) % 0.5 Increase (reduction) in tax benefit related to stock-based awards (0.3) 0.7 0.5 % 0.7 Change in valuation allowance (30.4) (5.6) (23.6) % (19.0) Permanent differences related to CARES Act — (16.7) — % (3.0) Non-deductible expenses 3.9 (6.6) 2.3 % (0.2) Effective income tax rate 1.5 % 6.2 % 4.7 % 0.4 %

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
Earnings (Loss) Per Share (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted	For all periods presented in the table below, weighted average shares and earnings (loss) per share reflect the effects of the Reverse Stock Split. The calculation of the basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2024 and 2023 is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Numerator: Net income for basic earnings per share $ 2,532 $ 1,287 $ 6,068 $ 22,609 Adjustments to net income available to shareholders Paid-in-Kind interest expense on convertible notes payable and Contract Consideration Convertible Notes Payable — — — 2,284 Valuation gain on Contract Consideration Convertible Notes Payable carried at fair value — — — (29,969) Adjusted net income (loss) for diluted earnings per share $ 2,532 $ 1,287 $ 6,068 $ (5,076) Denominator: Basic weighted average shares outstanding 29,613 29,358 29,498 23,291 Dilutive effect of convertible notes payable — — — 4,743 Dilutive effect of warrants outstanding 1,190 1,238 1,029 — Dilutive effect of stock options and restricted shares 94 92 128 — Diluted weighted average shares outstanding 30,897 30,688 30,655 28,034 Basic earnings per share $ 0.09 $ 0.04 $ 0.21 $ 0.97 Diluted earnings (loss) per share $ 0.08 $ 0.04 $ 0.20 $ (0.18) Anti-dilutive incremental shares excluded from denominator for diluted earnings computation Average number of diluted shares for June 2022 stock warrants (1) — — — 1,308 Average number of diluted shares for options and restricted stock (1) — — — 111 (1) These items were not included in the dilution calculation for the nine months ended September 30, 2023 due to their anti-dilutive effect as it would reduce the loss per share.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
Supplemental Cash Flow Information (Tables)	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information is as follows (in thousands): Nine months ended September 30, 2024 2023 Supplemental cash flow information: Interest paid $ 654 $ 36 Income taxes 50 — Supplemental non cash financing and investing activities: Conversion of convertible notes payable to common stock — 8,996 Conversion of convertible notes payable to February 2023 Warrants — 11,040 Conversion of Initial Contract Consideration Convertible Notes Payable to February 2023 Warrants — 15,092 Conversion of Amended Contract Consideration Convertible Notes Payable to common stock — 40,638

Business Segment, Geographic _2

Business Segment, Geographic and Major Customer Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Financial Information Regarding Reportable Segments	Summarized financial information of the reportable segments is as follows (in thousands): As of and for the three months ended September 30, Chemistry Technologies Data Analytics Corporate and Other Total 2024 Revenue from external customers Products $ 13,600 $ 1,681 $ — $ 15,281 Services 497 787 — 1,284 Total revenue from external customers 14,097 2,468 — 16,565 Revenue from related party Products 32,962 — — 32,962 Services 15 200 — 215 Total revenue from related parties 32,977 200 — 33,177 Gross profit 7,944 1,175 — 9,119 Income (loss) from operations 5,559 130 (2,966) 2,723 Depreciation 156 37 27 220 Interest expense — — 256 256 Income tax — — 37 37 Additions to long-lived assets 158 71 33 262 2023 Revenue from external customers Products $ 15,764 $ 1,025 $ — $ 16,789 Services 562 455 — 1,017 Total revenue from external customers 16,326 1,480 — 17,806 Revenue from related party Products 29,076 — — 29,076 Services 176 210 386 Total revenue from related parties 29,252 210 — 29,462 Gross profit 8,240 807 — 9,047 Income (loss) from operations 5,519 (37) (3,863) 1,619 Depreciation 149 26 6 181 Interest expense — — 160 160 Income tax — — 81 81 Additions to long-lived assets — 135 — 135 As of and for the nine months ended September 30, Chemistry Technologies Data Analytics Corporate and Other Total 2024 Revenue from external customers Products $ 40,427 $ 3,920 $ — $ 44,347 Services 1,716 1,872 — 3,588 Total revenue from external customers 42,143 5,792 — 47,935 Revenue from related party Products 87,705 — — 87,705 Services 27 600 — 627 Total revenue from related parties 87,732 600 — 88,332 Gross profit 24,888 2,220 — 27,108 Income (loss) from operations 17,810 (652) (10,106) 7,052 Depreciation 475 108 79 662 Interest expense — — 842 842 Income tax — — 293 293 Additions to long-lived assets 333 105 53 491 2023 Revenue from external customers Products $ 39,150 $ 4,586 $ — $ 43,736 Services 1,870 1,672 — 3,542 Total revenue from external customers 41,020 6,258 — 47,278 Revenue from related party Products 97,956 2 — 97,958 Services 179 455 — 634 Total revenue from related parties 98,135 457 — 98,592 Gross profit 11,279 3,554 — 14,833 Change in fair value of Contract Consideration Convertible Notes Payable (29,969) — — (29,969) Income (loss) from operations 32,694 550 (12,440) 20,804 Paid-in-kind interest on Contract Consideration Convertible Notes Payable 2,129 — — 2,129 Paid-in-kind interest on convertible notes payable — — 155 155 Depreciation 462 61 7 530 Other interest expense — — 253 253 Income tax — — 98 98 Additions to long-lived assets 30 230 32 292 Assets of the Company by reportable segments are as follows (in thousands): September 30, 2024 December 31, 2023 Chemistry Technologies $ 143,399 $ 138,559 Data Analytics 7,917 6,604 Corporate and Other 9,333 12,350 Total assets $ 160,649 $ 157,513
Schedule of Revenue by Geographic Location	Revenue by geographic location is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 U.S. (1) $ 48,498 $ 46,401 $ 131,763 $ 141,251 UAE 592 635 3,136 3,547 Other countries 652 232 1,368 1,072 Total revenue $ 49,742 $ 47,268 $ 136,267 $ 145,870 (1) Includes revenue from related party
Schedule of Revenue by Major Customers	Revenue from major customers, as a percentage of consolidated revenue, is as follows (in thousands): Revenue % of Total Revenue Three months ended September 30, 2024 ProFrac Services, LLC $ 33,177 66.7 % Three months ended September 30, 2023 ProFrac Services, LLC $ 29,462 62.3 % Revenue % of Total Revenue Nine months ended September 30, 2024 ProFrac Services, LLC $ 88,332 64.8 % Nine months ended September 30, 2023 ProFrac Services, LLC $ 98,592 67.6 %
Schedule of Expenditure With Major Suppliers by Reporting Segments	Expenditure with major suppliers, as a percentage of consolidated supplier expenditure, is as follows (in thousands): Three months ended September 30, Expenditure % of Total Expenditure 2024 Supplier A $ 8,885 24.6 % Supplier B 5,187 14.4 % Supplier C 4,348 12.1 % Supplier D 3,782 10.5 % 2023 Supplier A $ 6,094 25.3 % Supplier B 5,581 23.2 % Supplier C 4,197 17.4 % Nine months ended September 30, Expenditure % of Total Expenditure 2024 Supplier B $ 16,885 17.8 % Supplier A 16,639 17.5 % Supplier C 16,583 17.5 % 2023 Supplier A $ 36,318 32.5 % Supplier B 21,752 19.5 % Supplier C 13,151 11.8 %

Organization and Nature of Op_2

Organization and Nature of Operations (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Organization and Nature of Operations
Number of operation segments (segments) \| segment			2
Gross profit	$ 9,119	$ 9,047	$ 27,108	$ 14,833
Net income	2,532	$ 1,287	6,068	22,609
Operating activities			5,925	(9,248)
Contract Shortfall Fees
Organization and Nature of Operations
Amounts of transaction					$ 20,100
Contract Shortfall Fees \| Related Party
Organization and Nature of Operations
Amounts of transaction	$ 6,800		$ 23,800	$ 10,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss
Balance, beginning of year	$ 745	$ 623	$ 623
Charges to provision for credit losses, net of recoveries	121	$ 97	138
Write-offs	(478)		(16)
Balance, end of period	$ 388		$ 745

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue
Total revenues	$ 49,742	$ 47,268	$ 136,267	$ 145,870
Product
Disaggregation of Revenue
Total revenues	48,243	45,865	132,052	141,695
Services
Disaggregation of Revenue
Total revenues	$ 1,499	$ 1,403	$ 4,215	$ 4,175

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Cost of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue
Cost of sales	$ 40,623	$ 38,221	$ 109,159	$ 131,037
Nonrelated Party
Disaggregation of Revenue
Cost of sales	14,996	14,399	45,436	42,471
Related Party \| ProFrac Holdings
Disaggregation of Revenue
Cost of sales	25,627	23,822	63,723	88,566
Tangible goods sold
Disaggregation of Revenue
Cost of sales	35,824	33,350	95,064	116,755
Services
Disaggregation of Revenue
Cost of sales	91	128	273	425
Other
Disaggregation of Revenue
Cost of sales	$ 4,708	$ 4,743	$ 13,822	$ 13,857

Contract Assets - Contract Asse

Contract Assets - Contract Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Contract Asset
Contract assets	$ 83,060	$ 83,060
Less accumulated amortization	(12,745)	(8,404)
Total contract assets	70,315	74,656
Less current contract assets	(6,480)	(5,836)
Contract assets, long term	$ 63,835	$ 68,820

Contract Assets - Narrative (De

Contract Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	May 17, 2022	Feb. 02, 2022
Disaggregation of Revenue
Contract assets	$ 83,060		$ 83,060		$ 83,060
Capitalized contract fees	3,600		3,600
Long-term contract asset	63,835		63,835		$ 68,820
Amortization of contract into revenue	$ 1,600	$ 1,300	$ 4,300	$ 3,700
ProFrac Agreement
Disaggregation of Revenue
Contract assets						$ 69,500	$ 10,000

Contract Assets - Estimated Amo

Contract Assets - Estimated Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenue Recognition [Abstract]
2024 (excluding the nine months ended September 30, 2024)	$ 1,499
2025	6,833
2026	8,868
2027	10,117
2028	10,117
Thereafter through May 2032	32,881
Total contract assets	$ 70,315	$ 74,656

Inventories - Components of Inv

Inventories - Components of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 4,776	$ 5,299
Finished goods	13,318	13,660
Inventories	18,094	18,959
Less reserve for excess and obsolete inventory	(5,350)	(6,121)
Inventories, net	$ 12,744	$ 12,838

Inventories - Narratives (Detai

Inventories - Narratives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Inventories - Narratives (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Chemistry Technologies
Inventory
Provision for excess and obsolete inventory	$ 200	$ 100	$ 600	$ 500
Data Analytics
Inventory
Provision for excess and obsolete inventory	$ 0	$ 16	$ 13	$ 200

Property and Equipment - Compon

Property and Equipment - Components of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Components of Property, Plant and Equipment
Property and equipment	$ 17,418	$ 17,043
Less accumulated depreciation	(12,460)	(11,914)
Property and equipment, net	4,958	5,129
Land
Components of Property, Plant and Equipment
Property and equipment	886	886
Land improvements
Components of Property, Plant and Equipment
Property and equipment	520	520
Buildings and leasehold improvements
Components of Property, Plant and Equipment
Property and equipment	5,520	5,483
Machinery and equipment
Components of Property, Plant and Equipment
Property and equipment	7,216	6,993
Furniture and fixtures
Components of Property, Plant and Equipment
Property and equipment	520	520
Transportation equipment
Components of Property, Plant and Equipment
Property and equipment	830	945
Computer equipment and software
Components of Property, Plant and Equipment
Property and equipment	$ 1,926	$ 1,696

Property and Equipment - Narrat

Property and Equipment - Narratives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 220	$ 181	$ 662	$ 530

Leases - Components of Lease Ex

Leases - Components of Lease Expense and Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease expense	$ 640	$ 890	$ 2,176	$ 2,625
Finance lease expense:
Amortization of assets	4	3	11	11
Interest on lease liabilities	0	1	1	3
Total finance lease expense	4	4	12	14
Short-term lease expense	392	138	963	160
Total lease expense	1,036	1,032	3,151	2,799
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	1,245	1,331	4,232	4,246
Operating cash flows from finance leases	7	7	30	24
Financing cash flows from finance leases	$ 0	$ 1	$ 0	$ 3

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating Leases
2024 (excluding the nine months ended September 30, 2024)	$ 611
2025	2,117
2026	1,810
2027	1,741
2028	1,602
Thereafter	3,047
Total lease payments	10,928
Less: Interest	(2,415)
Present value of lease liabilities	$ 8,513	$ 10,125

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating Leases
Operating lease right-of-use assets	$ 3,759	$ 5,030
Current portion of operating lease liabilities	1,642	2,449
Long-term operating lease liabilities	6,871	7,676
Total operating lease liabilities	8,513	10,125
Finance Leases
Property and equipment	0	147
Accumulated depreciation	0	(70)
Property and equipment, net	0	77
Current portion of finance lease liabilities	0	22
Total finance lease liabilities	$ 0	$ 22
Weighted Average Remaining Lease Term
Operating leases (in years)	5 years 6 months	5 years 6 months
Finance leases (in years)		7 months 6 days
Weighted Average Discount Rate
Operating leases (in percentage)	9.50%	9.50%
Finance leases (in percentage)	0%	8.50%

Leases - Future Sublease Rental

Leases - Future Sublease Rental Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Sep. 30, 2024
Leases [Abstract]
Monthly rental expense	$ 86
2024 (excluding the nine months ended September 30, 2024)		$ 192
2025		767
2026		767
2027		767
2028		767
Thereafter		1,406
Total rental income		$ 4,666

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Current Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accrued liabilities, current
Severance costs	$ 372	$ 648
Payroll and benefits	2,063	2,138
Legal costs	45	37
Contingent liability for earn-out provision	11	56
Deferred revenue, current	452	550
Financed insurance	751	1,573
Other	421	888
Total current accrued liabilities	$ 4,115	$ 5,890

Debt and Convertible Notes Pa_3

Debt and Convertible Notes Payable - Asset Backed Loans Narratives (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2023	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument
Asset-based loan		$ 1,426,000	$ 1,426,000	$ 7,492,000
Asset Based Loan \| Line of Credit
Debt Instrument
Debt instrument term (years)	24 months
Initial credit availability	$ 20,000,000
Percentage of eligible accounts receivable (percent)	85%
Percentage value of eligible inventory (percent)	60%
Percentage of real estate holdings (percent)	60%
Asset-based loan		1,400,000	1,400,000
Line of credit facility, remaining borrowing capacity		12,000,000	12,000,000
Interest on ABL		300,000	700,000
Unamortized issuance cost		$ 200,000	$ 200,000
Debt instrument stated interest rate (percent)	5.50%	10%	10%
Basis spread on variable rate (percent)	2%
Commitment fee percentage (percent)	1%
Debt instrument, non usage fee (percent)	0.25%
Debt instrument, termination fee contingency period	12 months
Line of credit facility covenant amount minimum tangible net worth		$ 11,000,000	$ 11,000,000
Asset Based Loan \| Line of Credit \| Period One
Debt Instrument
Early termination fee (percent)	2.50%
Asset Based Loan \| Line of Credit \| Period Two
Debt Instrument
Early termination fee (percent)	1.50%
Asset Based Loan \| Line of Credit \| Maximum
Debt Instrument
Percentage of eligible accounts receivable (percent)	100%

Debt and Convertible Notes Pa_4

Debt and Convertible Notes Payable - Paycheck Protection Narratives (Details) - USD ($)		1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 05, 2023	Apr. 30, 2020	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jan. 04, 2023
Debt Instrument
Paycheck protection plan loan forgiveness			$ 0	$ 0	$ 0	$ 4,522,000
Flotek PPP loan \| Unsecured Debt
Debt Instrument
Proceeds from debt		$ 4,800,000
Income taxes	$ 4,400,000
Flotek PPP loan			$ 104,000		$ 104,000		$ 239,000	$ 4,800,000
Accrued interest forgiveness	100,000
Debt instrument, face amount	400,000
Repaid in monthly installments	$ 15,000
Paycheck protection plan loan forgiveness						4,500,000
Gain (loss) on extinguishment of debt, principal						4,400,000
Gain (loss) on extinguishment of debt, accrued interest						$ 100,000

Debt and Convertible Notes Pa_5

Debt and Convertible Notes Payable - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Jan. 04, 2023
Debt Instrument
Less current maturities	$ (104)	$ (179)
Unsecured Debt \| Flotek PPP loan
Debt Instrument
Flotek PPP loan	104	239	$ 4,800
Total long-term debt, net of current portion	$ 0	$ 60

Debt and Convertible Notes Pa_6

Debt and Convertible Notes Payable - Convertible Notes Narratives (Details)	Sep. 06, 2023 shares	May 17, 2023 $ / shares shares	Feb. 02, 2023 USD ($) $ / shares shares	Feb. 02, 2022 USD ($) day $ / shares	May 17, 2022 USD ($)
Convertible Debt \| February 2023 Warrants
Debt Instrument
Conversion price (in dollars per share) \| $ / shares			$ 0.0001
PIPE Transaction \| Convertible Debt
Debt Instrument
Debt instrument, face amount				$ 21,200,000
Proceeds from convertible notes				$ 20,100,000
Debt instrument stated interest rate (percent)				10%
Debt instrument term (years)				1 year
Conversion price (in dollars per share) \| $ / shares				$ 1.088125
Stock price trigger (in dollars per share) \| $ / shares			$ 0.8705	2.50
Stock price trigger for trading period (in dollars per share) \| $ / shares				$ 1.741
Threshold trading days \| day				20
Consecutive trading days \| day				30
Other Convertible Debt \| Convertible Notes Payable
Debt Instrument
Convertible notes payable			$ 9,000,000
Paid-in-kind interest expense			$ 800,000
Conversion of notes to common stock (in shares) \| shares			10,335,840
Other Convertible Debt \| Convertible Notes Payable \| Reverse Stock Split
Debt Instrument
Conversion of notes to common stock (in shares) \| shares			1,722,640
Amended ProFrac Agreement \| Convertible Debt
Debt Instrument
Debt instrument, face amount					$ 50,000,000
Debt instrument stated interest rate (percent)					10%
Conversion price (in dollars per share) \| $ / shares		$ 0.64
Amended ProFrac Agreement \| Convertible Debt \| Related Party
Debt Instrument
Conversion price (in dollars per share) \| $ / shares		$ 0.8705
Convertible notes payable			$ 11,000,000
Paid-in-kind interest expense			$ 1,000,000
Conversion of notes to common stock (in shares) \| shares	12,683,280	63,496,922	12,683,280
Amended ProFrac Agreement \| Convertible Debt \| Reverse Stock Split
Debt Instrument
Conversion of notes to common stock (in shares) \| shares		10,582,821
Amended ProFrac Agreement \| Convertible Debt \| Reverse Stock Split \| February 2023 Warrants
Debt Instrument
Conversion of notes to common stock (in shares) \| shares	2,113,880
Amended ProFrac Agreement \| Convertible Debt \| Reverse Stock Split \| Related Party
Debt Instrument
Conversion of notes to common stock (in shares) \| shares	2,113,880

Debt and Convertible Notes Pa_7

Debt and Convertible Notes Payable - ProFrac Transactions Narratives (Details) - USD ($)	Sep. 06, 2023	May 17, 2023	Feb. 02, 2023	May 17, 2022	Feb. 02, 2022
ProFrac Holdings \| February 2023 Warrants \| Related Party
Debt Instrument
Conversion of notes to common stock (in shares)			12,683,281
Convertible Debt \| February 2023 Warrants
Debt Instrument
Conversion price (in dollars per share)			$ 0.0001
ProFrac Agreement Contract \| Convertible Debt
Debt Instrument
Debt instrument, face amount					$ 10,000,000
Debt instrument stated interest rate (percent)					10%
Convertible debt, fair value disclosures			$ 15,100,000
Conversion price (in dollars per share)			$ 1.19
ProFrac Agreement Contract \| Convertible Debt \| Related Party
Debt Instrument
Convertible debt, fair value disclosures			$ 15,100,000
Conversion of notes to common stock (in shares)	12,683,281
ProFrac Agreement Contract \| Convertible Debt \| Related Party \| Reverse Stock Split
Debt Instrument
Conversion of notes to common stock (in shares)	2,113,881
ProFrac Agreement Contract \| Convertible Debt \| February 2023 Warrants \| Reverse Stock Split
Debt Instrument
Conversion of notes to common stock (in shares)	2,113,881
Amended ProFrac Agreement \| Convertible Debt
Debt Instrument
Debt instrument, face amount				$ 50,000,000
Debt instrument stated interest rate (percent)				10%
Convertible debt, fair value disclosures		$ 40,600,000
Conversion price (in dollars per share)		$ 0.64
Amended ProFrac Agreement \| Convertible Debt \| Reverse Stock Split
Debt Instrument
Conversion of notes to common stock (in shares)		10,582,821
Amended ProFrac Agreement \| Convertible Debt \| Related Party
Debt Instrument
Convertible debt, fair value disclosures		$ 40,600,000
Conversion of notes to common stock (in shares)	12,683,280	63,496,922	12,683,280
Conversion price (in dollars per share)		$ 0.8705
Amended ProFrac Agreement \| Convertible Debt \| Related Party \| Reverse Stock Split
Debt Instrument
Conversion of notes to common stock (in shares)	2,113,880
Amended ProFrac Agreement \| Convertible Debt \| February 2023 Warrants \| Reverse Stock Split
Debt Instrument
Conversion of notes to common stock (in shares)	2,113,880

Fair Value Measurements - Recur

Fair Value Measurements - Recurring (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring
Contingent earnout consideration	$ 11	$ 56
Liabilities measured at fair value on a recurring basis	11	56
Level 1
Fair Value, Assets and Liabilities Measured on Recurring
Contingent earnout consideration	0	0
Liabilities measured at fair value on a recurring basis	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring
Contingent earnout consideration	0	0
Liabilities measured at fair value on a recurring basis	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring
Contingent earnout consideration	11	56
Liabilities measured at fair value on a recurring basis	$ 11	$ 56

Fair Value Measurements - Monte

Fair Value Measurements - Monte Carlo Simulation (Details)	Sep. 30, 2024	Dec. 31, 2023
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques
Earn out provision, measurement input	0.0428	0.0458
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques
Earn out provision, measurement input	0.650	0.700
Term until liquidation (years)
Fair Value Measurement Inputs and Valuation Techniques
Earn out provision, measurement input	0.63	1.38
Stock price
Fair Value Measurement Inputs and Valuation Techniques
Earn out provision, measurement input	4.98	3.92
Discount rate
Fair Value Measurement Inputs and Valuation Techniques
Earn out provision, measurement input	0.1062	0.1186

Fair Value Measurements - Narra

Fair Value Measurements - Narratives (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2023	May 17, 2023	Feb. 02, 2023	May 17, 2022	Feb. 02, 2022
Assets Measured at Fair Value on a Nonrecurring Basis
Convertible note payable			$ (29,969)
ProFrac Agreement Contract \| Convertible Debt
Assets Measured at Fair Value on a Nonrecurring Basis
Convertible debt, fair value disclosures					$ 15,100
Conversion price (in dollars per share)					$ 1.19
Change in fair value	$ 0	$ 0	786
ProFrac Agreement Contract \| Convertible Debt \| Related Party
Assets Measured at Fair Value on a Nonrecurring Basis
Convertible debt, fair value disclosures					$ 15,100
Amended ProFrac Agreement \| Convertible Debt
Assets Measured at Fair Value on a Nonrecurring Basis
Convertible debt, fair value disclosures				$ 40,600
Conversion price (in dollars per share)				$ 0.64
Amended ProFrac Agreement \| Convertible Debt \| Related Party
Assets Measured at Fair Value on a Nonrecurring Basis
Convertible debt, fair value disclosures				$ 40,600
Conversion price (in dollars per share)				$ 0.8705
Amended ProFrac Agreement \| Estimate of Fair Value Measurement \| Convertible Debt
Assets Measured at Fair Value on a Nonrecurring Basis
Convertible debt, fair value disclosures						$ 69,500
Convertible note payable			$ 30,800
Recurring \| Level 3
Assets Measured at Fair Value on a Nonrecurring Basis
Convertible debt, fair value disclosures							$ 10,000

Fair Value Measurements - Rollf

Fair Value Measurements - Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance - beginning of period	$ 30	$ 260	$ 56	$ 84,153
Balance - end of period	11	199	11	199
ProFrac Agreement Contract \| Convertible Debt
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Change in fair value	0	0		786
ProFrac Agreement
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Increase in principal of Amended ProFrac Agreement Contract Consideration Convertible Notes Payable for paid-in-kind interest	0	0	0	85
Conversion of Initial ProFrac Agreement Contract Consideration Convertible Notes Payable on maturity	0	0	0	(15,092)
Amended ProFrac Agreement
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Increase in principal of Amended ProFrac Agreement Contract Consideration Convertible Notes Payable for paid-in-kind interest	0	0	0	2,043
Change in fair value	0	0	0	(30,754)
Conversion of Initial ProFrac Agreement Contract Consideration Convertible Notes Payable on maturity		0	$ 0	$ (40,638)
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Debt Instrument, Realized Gain (Loss) On Fair Value Adjustment, Before Tax	Debt Instrument, Realized Gain (Loss) On Fair Value Adjustment, Before Tax
Change in fair value of contingent earnout consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Change in fair value	$ (19)	$ (61)	$ (45)	$ (384)
Contingent Portion of Convertible Debt
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Change in fair value			$ 0

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Tax Rate (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	21%	21%	21%	21%
State income taxes, net of federal benefit	1.50%	6.10%	4.70%	0.40%
Non-U.S. income taxed at different rates	5.80%	7.30%	(0.20%)	0.50%
Increase (reduction) in tax benefit related to stock-based awards	(0.30%)	0.70%	0.50%	0.70%
Change in valuation allowance	(30.40%)	(5.60%)	(23.60%)	(19.00%)
Permanent differences related to CARES Act	0%	(16.70%)	0%	(3.00%)
Non-deductible expenses	3.90%	(6.60%)	2.30%	(0.20%)
Effective income tax rate	1.50%	6.20%	4.70%	0.40%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($)
Operating Loss Carryforwards
Operating loss carryforwards	$ 190.1
Deferred tax assets, operating loss carryforwards, subject to expiration	$ 43.5
Percentage of net operating loss carryforward that can offset net income	100%
Deferred tax assets, operating loss carryforwards, not subject to expiration	$ 146.6
Percentage of indefinite lived carryforward that can offset taxable in come per year	80%
Tax credit carryforward	$ 3.8
Operating loss carryforward estimated limitation on use	3.5
Operating loss carryforwards, maximum uplift, amount	24.5
Tax credit valuation allowance, due to expiration	3.8
State and Local Jurisdiction
Operating Loss Carryforwards
Operating loss carryforwards	91.2
Operating loss valuation allowance, due to expiration	$ 1

Stockholders_ Equity - Reverse

Stockholders’ Equity - Reverse Stock Split (Details)	Sep. 25, 2023 shares	Sep. 14, 2023
Fair Value Measurement Inputs and Valuation Techniques
Reverse stock splits (in shares)	30,739,820
Reverse stock split ratio		0.1667
Reverse Stock Split
Fair Value Measurement Inputs and Valuation Techniques
Conversion of stock, shares converted (in shares)	184,438,695

Stockholders_ Equity - Conversi

Stockholders’ Equity - Conversion of Convertible Notes (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 25, 2023	Sep. 06, 2023	May 17, 2023	Feb. 02, 2023	Feb. 02, 2022
Fair Value Measurement Inputs and Valuation Techniques
Reverse stock splits (in shares)	30,739,820
Related Party \| ProFrac Holdings \| February 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques
Conversion of notes to common stock (in shares)				12,683,281
Convertible Debt \| February 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques
Conversion price (in dollars per share)				$ 0.0001
Other Convertible Debt \| Convertible Notes Payable
Fair Value Measurement Inputs and Valuation Techniques
Conversion of notes to common stock (in shares)				10,335,840
Convertible notes payable				$ 9
Paid-in-kind interest expense				$ 0.8
Other Convertible Debt \| Convertible Notes Payable \| Reverse Stock Split
Fair Value Measurement Inputs and Valuation Techniques
Conversion of notes to common stock (in shares)				1,722,640
PIPE Transaction \| Convertible Debt
Fair Value Measurement Inputs and Valuation Techniques
Reverse stock splits (in shares)				1,722,640
Stock price trigger (in dollars per share)				$ 0.8705	$ 2.50
Conversion price (in dollars per share)					$ 1.088125
Amended ProFrac Agreement \| Convertible Debt
Fair Value Measurement Inputs and Valuation Techniques
Exercise price of warrants or rights (in dollars per share)				$ 0.0001
Convertible debt, fair value disclosures			$ 40.6
Conversion price (in dollars per share)			$ 0.64
Amended ProFrac Agreement \| Convertible Debt \| Reverse Stock Split
Fair Value Measurement Inputs and Valuation Techniques
Conversion of notes to common stock (in shares)			10,582,821
Amended ProFrac Agreement \| Convertible Debt \| Reverse Stock Split \| February 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques
Conversion of notes to common stock (in shares)		2,113,880
Amended ProFrac Agreement \| Convertible Debt \| Related Party
Fair Value Measurement Inputs and Valuation Techniques
Conversion of notes to common stock (in shares)		12,683,280	63,496,922	12,683,280
Reverse stock splits (in shares)			10,582,821
Convertible notes payable				$ 11
Paid-in-kind interest expense				1
Convertible debt, fair value disclosures			$ 40.6
Conversion price (in dollars per share)			$ 0.8705
Amended ProFrac Agreement \| Convertible Debt \| Related Party \| Reverse Stock Split
Fair Value Measurement Inputs and Valuation Techniques
Conversion of notes to common stock (in shares)		2,113,880
Reverse stock splits (in shares)			10,582,821
ProFrac Agreement Contract \| Convertible Debt
Fair Value Measurement Inputs and Valuation Techniques
Convertible debt, fair value disclosures				$ 15.1
Conversion price (in dollars per share)				$ 1.19
ProFrac Agreement Contract \| Convertible Debt \| Reverse Stock Split \| February 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques
Conversion of notes to common stock (in shares)		2,113,881
ProFrac Agreement Contract \| Convertible Debt \| Related Party
Fair Value Measurement Inputs and Valuation Techniques
Conversion of notes to common stock (in shares)		12,683,281
Convertible notes payable				$ 11
Paid-in-kind interest expense				1
Convertible debt, fair value disclosures				$ 15.1
ProFrac Agreement Contract \| Convertible Debt \| Related Party \| Reverse Stock Split
Fair Value Measurement Inputs and Valuation Techniques
Conversion of notes to common stock (in shares)		2,113,881

Stockholders_ Equity - Prefunde

Stockholders’ Equity - Prefunded Warrants (Details) - ProFrac Holdings - June 2022 Warrants - Affiliated Entity	Jun. 21, 2022 USD ($) $ / shares shares
Common and Preferred Stock
Exchanged value of warrants	$ 19,500,000
Number of securities called by warrants or rights (in shares) \| shares	13,104,839
Exercise price of warrants or rights (in dollars per share) \| $ / shares	$ 0.0001
Warrant exercise fee	$ 4,500,000
Conditional proceeds trigger	$ 4,500,000
Reverse Stock Split
Common and Preferred Stock
Number of securities called by warrants or rights (in shares) \| shares	2,184,140

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income for basic earnings per share	$ 2,532	$ 1,287	$ 6,068	$ 22,609
Adjustments to net income available to shareholders
Paid-in-Kind interest expense on convertible notes payable and Contract Consideration Convertible Notes Payable			0	2,284
Adjusted net income (loss) for diluted earnings per share	$ 2,532	$ 1,287	$ 6,068	$ (5,076)
Denominator:
Basic weighted average shares outstanding (in shares)	29,613	29,358	29,498	23,291
Dilutive effect of convertible notes payable (in shares)	0	0	0	4,743
Dilutive effect of warrants outstanding (in shares)	1,190	1,238	1,029	0
Dilutive effect of stock options and restricted shares (in shares)	94	92	128	0
Diluted weighted average shares outstanding (in shares)	30,897	30,688	30,655	28,034
Basic earnings per share (in dollars per share)	$ 0.09	$ 0.04	$ 0.21	$ 0.97
Diluted earnings (loss) per share (in dollars per share)	$ 0.08	$ 0.04	$ 0.20	$ (0.18)
Convertible Notes Payable
Adjustments to net income available to shareholders
Paid-in-Kind interest expense on convertible notes payable and Contract Consideration Convertible Notes Payable	$ 0	$ 0	$ 0	$ 2,284
Valuation gain on Contract Consideration Convertible Notes Payable carried at fair value	$ 0	$ 0	$ 0	$ (29,969)
Stock Warrants
Denominator:
Anti-dilutive incremental shares excluded from denominator for diluted earnings computation	0	0	0	1,308
Options and Restricted
Denominator:
Anti-dilutive incremental shares excluded from denominator for diluted earnings computation	0	0	0	111

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental cash flow information:
Interest paid	$ 654	$ 36
Income taxes	50	0
Supplemental non cash financing and investing activities:
Conversion of convertible notes payable to common stock	0	40,638
Conversion of Initial Contract Consideration Convertible Notes Payable to February 2023 Warrants	0	15,092
Common Stock
Supplemental non cash financing and investing activities:
Conversion of convertible notes payable to common stock	0	8,996
Stock Warrants
Supplemental non cash financing and investing activities:
Conversion of convertible notes payable to common stock	$ 0	$ 11,040

Related Party Transactions (Det

Related Party Transactions (Details)						3 Months Ended		9 Months Ended		12 Months Ended
Related Party Transactions (Details)	Sep. 25, 2023 shares	Sep. 06, 2023 shares	May 17, 2023 USD ($) $ / shares shares	Feb. 02, 2023 USD ($) fleet $ / shares shares	May 17, 2022 USD ($) fleet	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Feb. 02, 2022 USD ($)
Related Party Transaction
Reverse stock splits (in shares) \| shares	30,739,820
Revenue from external customers						$ 49,742,000	$ 47,268,000	$ 136,267,000	$ 145,870,000
Accumulated amortization						(1,600,000)	(1,300,000)	(4,300,000)	(3,700,000)
Cost of sales						40,623,000	38,221,000	109,159,000	131,037,000
Contract Shortfall Fees
Related Party Transaction
Amounts of transaction										$ 20,100,000
Related Party
Related Party Transaction
Revenue from external customers						33,177,000	29,462,000	88,332,000	98,592,000
Accumulated amortization						(1,600,000)	(1,300,000)	(4,300,000)	(3,700,000)
Accounts receivable						47,064,000		47,064,000		$ 34,569,000
Related Party \| Contract Shortfall Fees
Related Party Transaction
Amounts of transaction						6,800,000		23,800,000	10,000,000
Related Party \| ProFrac Agreement Contract
Related Party Transaction
Increase in number of active hydraulic fleets \| fleet				30
Convertible Debt \| February 2023 Warrants
Related Party Transaction
Conversion price (in dollars per share) \| $ / shares				$ 0.0001
Convertible Debt \| Amended ProFrac Agreement
Related Party Transaction
Debt instrument, face amount					$ 50,000,000
Convertible debt, fair value disclosures			$ 40,600,000
Conversion price (in dollars per share) \| $ / shares			$ 0.64
Convertible Debt \| Amended ProFrac Agreement \| Reverse Stock Split
Related Party Transaction
Conversion of notes to common stock (in shares) \| shares			10,582,821
Convertible Debt \| Amended ProFrac Agreement \| February 2023 Warrants \| Reverse Stock Split
Related Party Transaction
Conversion of notes to common stock (in shares) \| shares		2,113,880
Convertible Debt \| ProFrac Agreement Contract
Related Party Transaction
Debt instrument, face amount											$ 10,000,000
Convertible debt, fair value disclosures				$ 15,100,000
Conversion price (in dollars per share) \| $ / shares				$ 1.19
Convertible Debt \| ProFrac Agreement Contract \| February 2023 Warrants \| Reverse Stock Split
Related Party Transaction
Conversion of notes to common stock (in shares) \| shares		2,113,881
Convertible Debt \| Related Party \| Amended ProFrac Agreement
Related Party Transaction
Convertible notes payable				$ 11,000,000
Paid-in-kind interest expense				$ 1,000,000
Conversion of notes to common stock (in shares) \| shares		12,683,280	63,496,922	12,683,280
Convertible debt, fair value disclosures			$ 40,600,000
Conversion price (in dollars per share) \| $ / shares			$ 0.8705
Reverse stock splits (in shares) \| shares			10,582,821
Convertible Debt \| Related Party \| Amended ProFrac Agreement \| Reverse Stock Split
Related Party Transaction
Conversion of notes to common stock (in shares) \| shares		2,113,880
Reverse stock splits (in shares) \| shares			10,582,821
Convertible Debt \| Related Party \| ProFrac Agreement Contract
Related Party Transaction
Convertible notes payable				$ 11,000,000
Paid-in-kind interest expense				1,000,000
Conversion of notes to common stock (in shares) \| shares		12,683,281
Convertible debt, fair value disclosures				$ 15,100,000
Convertible Debt \| Related Party \| ProFrac Agreement Contract \| Reverse Stock Split
Related Party Transaction
Conversion of notes to common stock (in shares) \| shares		2,113,881
PIPE Transaction \| Convertible Debt \| Related Party
Related Party Transaction
Debt instrument, face amount											$ 10,000,000
Fleet purchase commitment percentage											33%
Conditional revenue shortfall rate (percent)											25%
Amended ProFrac Agreement \| Convertible Debt \| Related Party
Related Party Transaction
Debt instrument, face amount					$ 50,000,000
Fleet purchase commitment percentage					70%
Increase in number of active hydraulic fleets \| fleet					30
Potential increase to contract term (years)					10 years
ProFrac Holdings \| Related Party
Related Party Transaction
Revenue from external customers						33,200,000	29,500,000	88,300,000	98,600,000
Cost of sales						$ 25,627,000	$ 23,822,000	$ 63,723,000	$ 88,566,000
ProFrac Holdings \| Related Party \| February 2023 Warrants
Related Party Transaction
Conversion of notes to common stock (in shares) \| shares				12,683,281

Business Segment, Geographic _3

Business Segment, Geographic and Major Customer Information - Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Summarized financial information regarding reportable segments
Revenue from external customers	$ 49,742	$ 47,268	$ 136,267	$ 145,870
Gross profit	9,119	9,047	27,108	14,833
Change in fair value of Contract Consideration Convertible Notes Payable				(29,969)
Income (loss) from operations	2,723	1,619	7,052	20,804
Depreciation	220	181	662	530
Interest expense	256	160	842	2,537
Paid-in-kind interest on Contract Consideration Convertible Notes Payable				2,129
Paid-in-kind interest on convertible notes payable				155
Other interest expense				253
Income tax	37	81	293	98
Additions to long-lived assets	262	135	491	292
Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	16,565	17,806	47,935	47,278
Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	33,177	29,462	88,332	98,592
Product
Summarized financial information regarding reportable segments
Revenue from external customers	48,243	45,865	132,052	141,695
Product \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	15,281	16,789	44,347	43,736
Product \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	32,962	29,076	87,705	97,958
Services
Summarized financial information regarding reportable segments
Revenue from external customers	1,499	1,403	4,215	4,175
Services \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	1,284	1,017	3,588	3,542
Services \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	215	386	627	634
Operating Segments \| Chemistry Technologies
Summarized financial information regarding reportable segments
Gross profit	7,944	8,240	24,888	11,279
Change in fair value of Contract Consideration Convertible Notes Payable				(29,969)
Income (loss) from operations	5,559	5,519	17,810	32,694
Depreciation	156	149	475	462
Interest expense	0	0	0
Paid-in-kind interest on Contract Consideration Convertible Notes Payable				2,129
Paid-in-kind interest on convertible notes payable				0
Other interest expense				0
Income tax	0	0	0	0
Additions to long-lived assets	158	0	333	30
Operating Segments \| Chemistry Technologies \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	14,097	16,326	42,143	41,020
Operating Segments \| Chemistry Technologies \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	32,977	29,252	87,732	98,135
Operating Segments \| Chemistry Technologies \| Product \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	13,600	15,764	40,427	39,150
Operating Segments \| Chemistry Technologies \| Product \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	32,962	29,076	87,705	97,956
Operating Segments \| Chemistry Technologies \| Services \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	497	562	1,716	1,870
Operating Segments \| Chemistry Technologies \| Services \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	15	176	27	179
Operating Segments \| Data Analytics
Summarized financial information regarding reportable segments
Gross profit	1,175	807	2,220	3,554
Change in fair value of Contract Consideration Convertible Notes Payable				0
Income (loss) from operations	130	(37)	(652)	550
Depreciation	37	26	108	61
Interest expense	0	0	0
Paid-in-kind interest on Contract Consideration Convertible Notes Payable				0
Paid-in-kind interest on convertible notes payable				0
Other interest expense				0
Income tax	0	0	0	0
Additions to long-lived assets	71	135	105	230
Operating Segments \| Data Analytics \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	2,468	1,480	5,792	6,258
Operating Segments \| Data Analytics \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	200	210	600	457
Operating Segments \| Data Analytics \| Product \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	1,681	1,025	3,920	4,586
Operating Segments \| Data Analytics \| Product \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	0	0	0	2
Operating Segments \| Data Analytics \| Services \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	787	455	1,872	1,672
Operating Segments \| Data Analytics \| Services \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	200	210	600	455
Corporate and Other
Summarized financial information regarding reportable segments
Gross profit	0	0	0	0
Change in fair value of Contract Consideration Convertible Notes Payable				0
Income (loss) from operations	(2,966)	(3,863)	(10,106)	(12,440)
Depreciation	27	6	79	7
Interest expense	256	160	842
Paid-in-kind interest on Contract Consideration Convertible Notes Payable				0
Paid-in-kind interest on convertible notes payable				155
Other interest expense				253
Income tax	37	81	293	98
Additions to long-lived assets	33	0	53	32
Corporate and Other \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	0	0	0	0
Corporate and Other \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	0	0	0	0
Corporate and Other \| Product \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	0	0	0	0
Corporate and Other \| Product \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	0	0	0	0
Corporate and Other \| Services \| Nonrelated Party
Summarized financial information regarding reportable segments
Revenue from external customers	0	0	0	0
Corporate and Other \| Services \| Related Party
Summarized financial information regarding reportable segments
Revenue from external customers	$ 0		$ 0	$ 0

Business Segment, Geographic _4

Business Segment, Geographic and Major Customer Information - Assets by Reportable Segments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting Information
Total assets	$ 160,649	$ 157,513
Operating Segments \| Chemistry Technologies
Segment Reporting Information
Total assets	143,399	138,559
Operating Segments \| Data Analytics
Segment Reporting Information
Total assets	7,917	6,604
Corporate and Other
Segment Reporting Information
Total assets	$ 9,333	$ 12,350

Business Segment, Geographic _5

Business Segment, Geographic and Major Customer Information - Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues from External Customers and Long-Lived Assets
Revenue from external customers	$ 49,742	$ 47,268	$ 136,267	$ 145,870
U.S.
Revenues from External Customers and Long-Lived Assets
Revenue from external customers	48,498	46,401	131,763	141,251
UAE
Revenues from External Customers and Long-Lived Assets
Revenue from external customers	592	635	3,136	3,547
Other countries
Revenues from External Customers and Long-Lived Assets
Revenue from external customers	$ 652	$ 232	$ 1,368	$ 1,072

Business Segment, Geographic _6

Business Segment, Geographic and Major Customer Information - Major Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information
Revenue from external customers	$ 49,742	$ 47,268	$ 136,267	$ 145,870
Related Party
Segment Reporting Information
Revenue from external customers	33,177	29,462	88,332	98,592
Customer Concentration Risk \| Sales \| ProFrac Services, LLC \| Related Party
Segment Reporting Information
Revenue from external customers	$ 33,177	$ 29,462	$ 88,332	$ 98,592
Percentage of revenue by major customers (in percentage)	66.70%	62.30%	64.80%	67.60%

Business Segment, Geographic _7

Business Segment, Geographic and Major Customer Information - Major Suppliers (Details) - Purchases - Cost of Goods and Service - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Supplier A
Segment Reporting Information
Supplies expense	$ 8,885	$ 6,094	$ 16,639	$ 36,318
Total spend (in percentage)	24.60%	25.30%	17.50%	32.50%
Supplier B
Segment Reporting Information
Supplies expense	$ 5,187	$ 5,581	$ 16,885	$ 21,752
Total spend (in percentage)	14.40%	23.20%	17.80%	19.50%
Supplier C
Segment Reporting Information
Supplies expense	$ 4,348	$ 4,197	$ 16,583	$ 13,151
Total spend (in percentage)	12.10%	17.40%	17.50%	11.80%
Supplier D
Segment Reporting Information
Supplies expense	$ 3,782
Total spend (in percentage)	10.50%