Form 8-K

8-K — NPK International Inc.

Accession: 0000071829-26-000026

Filed: 2026-04-30

Period: 2026-04-30

CIK: 0000071829

SIC: 7350 (SERVICES-MISCELLANEOUS EQUIPMENT RENTAL & LEASING)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — nr-20260430.htm (Primary)

EX-99.1 (a2026q18k-erex991.htm)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: nr-20260430.htm · Sequence: 1

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 30, 2026

NPK International Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-02960 72-1123385

(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

9320 Lakeside Boulevard, Suite 100

The Woodlands, Texas 77381

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (281) 362-6800

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $0.01 par value NPKI New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On April 30, 2026, NPK International Inc. (the “Company”) issued a press release announcing financial information for the three months ended March 31, 2026. The press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

The information in Item 2.02 of this Current Report on Form 8-K and the information in the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as expressly set forth by specific reference in such filing.

Use of Non-GAAP Financial Information

To help understand the Company’s financial performance, the Company has supplemented its financial results that it provides in accordance with generally accepted accounting principles (“GAAP”) with non-GAAP financial measures. Such financial measures include Adjusted Income (Loss) from Continuing Operations, Adjusted Income (Loss) from Continuing Operations Per Common Share, earnings before interest, taxes, depreciation and amortization (“EBITDA”) from Continuing Operations, Adjusted EBITDA from Continuing Operations, Adjusted EBITDA Margin from Continuing Operations, and Free Cash Flow.

We believe these non-GAAP financial measures are frequently used by investors, securities analysts and other parties in the evaluation of our performance and liquidity with that of other companies in our industry. Management uses these measures to evaluate our operating performance, liquidity and capital structure. In addition, our incentive compensation plan measures performance based on our consolidated EBITDA, along with other factors. The methods we use to produce these non-GAAP financial measures may differ from methods used by other companies. These measures should be considered in addition to, not as a substitute for, financial measures prepared in accordance with GAAP. Applicable reconciliations to the nearest GAAP financial measure of each non-GAAP financial measure are included in the attached Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1

Press release issued by NPK International Inc. on April 30, 2026

104

Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NPK International Inc.

(Registrant)

Date: April 30, 2026 By: /s/ Gregg S. Piontek

Gregg S. Piontek

Senior Vice President and Chief Financial Officer

(Principal Financial Officer)

EX-99.1

Filename: a2026q18k-erex991.htm · Sequence: 2

Document

Exhibit 99.1

NPK REPORTS FIRST QUARTER 2026 RESULTS

Company reports revenues of $75 million, diluted EPS of $0.12; Raises full-year guidance

THE WOODLANDS, TEXAS – April 30, 2026 – NPK International Inc. (NYSE: NPKI) (“NPK” or the “Company”) today announced results for the first quarter ended March 31, 2026.

FIRST QUARTER 2026 RESULTS

(all comparisons versus the prior year period unless otherwise noted)

•Revenues of $75.1 million, +16%

•Operating income from continuing operations of $14.4 million (19.2% of revenues)

•Income from continuing operations of $10.4 million, or $0.12 per diluted share

•Adjusted EBITDA from Continuing Operations of $22.5 million, +14%

•Adjusted EBITDA margin from Continuing Operations of 29.9%

•Total cash of $6.5 million and total debt of $10.6 million as of March 31, 2026

•Repurchased $2.7 million of common equity

First Quarter

(In millions) 2026 2025 Change

Revenues $ 75.1 $ 64.8 $ 10.3

Operating income from continuing operations $ 14.4 $ 13.5 $ 0.9

Income from continuing operations per common share - Diluted $ 0.12 $ 0.12 $ —

Adjusted EBITDA from continuing operations $ 22.5 $ 19.7 $ 2.8

Operating margin from continuing operations (%) 19.2% 20.9% -170 bps

Adjusted EBITDA margin from continuing operations (%) 29.9% 30.4% -50 bps

Net cash provided by operating activities $ 21.1 $ 8.8 $ 12.3

Free Cash Flow $ 4.9 $ 0.6 $ 4.3

MANAGEMENT COMMENTARY

“We were very pleased with our strong first quarter 2026 results, further building on the sustained momentum we experienced during 2025,” stated Matthew Lanigan, President and CEO of NPK International. “First quarter revenue increased 16% year-over-year, driven by another record quarter of rental and services revenues and strong product demand from utility customers. The environment for power transmission spending remains robust, as evident by our sustained strength in rental fleet utilization, improved pricing, and strong quoting activity.

Lanigan continued, “As we have discussed, while we have made progress in improving our manufacturing throughput, the momentum in utility spending and our confidence in the durability of these trends has caused us to accelerate our planned manufacturing capacity expansion plans. To this end, we are pleased to report that our Board has approved plans to expand manufacturing capacity by approximately 50% from current levels, with the additional capacity expected to be online by mid-2027. We expect to invest $40 million to $45 million to complete the expansion, which we believe represents an attractive investment to support the planned growth in our business.

“Our disciplined financial management enabled us to generate strong cash flow, delivering $21 million of operating cash flow while investing nearly $15 million in fleet expansion during the first quarter. We

continued to execute on our disciplined capital return strategy, utilizing $3 million for share repurchases during the quarter. We have $148 million of availability under our bank facility and minimal net debt, providing us with ample financial flexibility to continue executing our strategic growth objectives.

“First quarter results were in line with our expectations, demonstrating the improved consistency as we grow the business. Based on this strong first quarter performance and our confidence in the business outlook, we are raising our full-year fiscal 2026 guidance. Our scale and ability to execute on the largest and most complex transmission projects has us well positioned to benefit from the favorable secular drivers benefiting our end markets. We remain focused on execution against our strategic priorities, including our commitment to our disciplined allocation framework, all with an ongoing focus on providing value for our shareholders,” concluded Lanigan.

BUSINESS UPDATE

NPK’s business plan is designed to drive organic commercial growth within targeted, higher-margin product and rental markets; improve asset optimization and organizational efficiency; and pursue a capital allocation strategy that prioritizes investments with superior return profiles, together with a programmatic return of capital program.

First quarter 2026 highlights include:

•Strong customer demand for matting rental and related services. Revenues from specialty rental and related services increased to $52 million in the first quarter of 2026, with record rental revenues driven by strong sustained demand from key customer accounts in support of power transmission projects and the impact of our recent acquisition. Revenues from product sales were $23 million for the first quarter of 2026, primarily reflecting the continued strong demand from utility companies.

•Improved operating efficiency. NPK remains focused on efficiency improvements and operating cost optimization across every aspect of its business. In the first quarter of 2026, NPK’s SG&A as a percentage of revenue was 17.6%, a 60 basis point improvement versus the prior year period.

•Return of capital to shareholders. The Company continued to execute on its disciplined return of capital strategy during the first quarter of 2026, using $2.7 million of cash to repurchase 0.2 million of outstanding shares under the repurchase program.

•Manufacturing efficiency and capacity expansion. Management announced that the Board of Directors recently approved plans to expand manufacturing capacity by approximately 50% from current levels. The Company expects to invest $40 million to $45 million over the next five quarters to complete this expansion, with the goal of bringing the additional capacity online by mid-2027.

FINANCIAL PERFORMANCE

In the first quarter of 2026, NPK generated revenue of $75.1 million, an increase of 16%, compared to $64.8 million in the prior year period. Rental and Service revenue increased 20% to $52.0 million, while product sales increased 8% to $23.1 million.

Gross margin was 36.2% in the first quarter of 2026, compared to 39.0% in the prior year period. The decline primarily reflects an elevated level of cross-rental activity, as well as modestly lower fleet utilization as compared to the exceptionally strong performance in the prior-year period.

Selling, general and administrative expenses were $13.2 million (17.6% of revenues) in the first quarter of 2026, compared to $11.7 million (18.1% of revenues) in the first quarter of 2025.

NPK generated income from continuing operations of $10.4 million, or $0.12 per diluted share, on total revenue of $75.1 million, compared to income from continuing operations of $10.4 million, or $0.12 per diluted share, on total revenue of $64.8 million, in the first quarter of 2025.

The Company reported Adjusted EBITDA from Continuing Operations of $22.5 million in the first quarter of 2026, or 29.9% of total revenue, compared to $19.7 million, or 30.4% of total revenue, in the prior year period.

BALANCE SHEET AND LIQUIDITY

As of March 31, 2026, NPK had total cash of $6.5 million, total debt of $10.6 million, and available liquidity under its senior secured revolving credit facility of $148 million.

Operating cash flow was $21.1 million in the first quarter of 2026. Capital investments used $16.2 million, net, with the substantial majority funding the expansion of the mat rental fleet to support increased customer demand.

FINANCIAL GUIDANCE

The following forward-looking guidance reflects the Company’s current expectations and beliefs as of April 30, 2026 and is subject to change. The following statements apply only as of the date of this disclosure and are expressly qualified in their entirety by the cautionary statements included elsewhere in this document.

For the full year 2026, NPK currently anticipates the following:

•Revenues in a range of $310 million to $325 million

•Adjusted EBITDA in a range of $92 million to $102 million

•Capital expenditures in a range of $75 million to $90 million, which includes $30 million to $35 million from manufacturing expansion

FIRST QUARTER 2026 RESULTS CONFERENCE CALL

A conference call will be held Friday, May 1, 2026 at 9:30 a.m. ET to review the Company’s financial results and conduct a question-and-answer session.

A webcast of the conference call will be available in the Investor Relations section of the Company’s website at www.npki.com. Individuals can also participate by teleconference dial-in. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software.

To participate in the live teleconference:

Domestic Live:

800-715-9871

International Live:

646-307-1963

Conference ID:

8869084

To listen to a replay of the teleconference, which subsequently will be available through May 8, 2026:

Domestic Replay:

800-770-2030

International Replay:

647-362-9199

ABOUT NPK INTERNATIONAL

NPK International Inc. is a temporary worksite access solutions company that manufactures, sells, and rents recyclable composite matting products, along with a full suite of services, including planning, logistics, and site restoration. As a geographically diversified company, the Company delivers superior quality and reliability across critical infrastructure markets, including electrical transmission and distribution, oil and gas exploration, pipeline, renewable energy, petrochemical, construction, and other industries. For more information, visit our website at www.npki.com.

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical facts are forward-looking statements. Words such as “will,” “may,” “could,” “would,” “should,” “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “guidance,” and similar expressions are intended to identify these forward-looking statements but are not the exclusive means of identifying them. These statements are not guarantees that our expectations will prove to be correct and involve a number of risks, uncertainties, and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by NPK, particularly its Annual Report on Form 10-K, and its Quarterly Reports on Form 10-Q, as well as others, could cause actual plans or results to differ materially from those expressed in, or implied by, these statements. These risk factors include, but are not limited to, risks related to our ability to generate organic growth; economic and market conditions that may impact our customers’ future spending; customer concentration; the effective management of our fleet, including our ability to properly manufacture, safeguard, and maintain our fleet; international operations; manufacturing capacity expansion projects; operating hazards present in our and our customers’ industries and substantial liability claims; our contracts that can be terminated or downsized by our customers without penalty; our product offering and market expansion; our ability to attract, retain, and develop qualified leaders, key employees, and skilled personnel; expanding our services in the utilities sector, which may require unionized labor; the price and availability of raw materials; inflation; capital investments and business acquisitions; market competition; technological developments and intellectual property; severe weather, natural disasters, and seasonality; public health crises, epidemics, and pandemics; our cost and continued availability of borrowed funds, including

noncompliance with debt covenants; environmental laws and regulations; legal compliance; the inherent limitations of insurance coverage; income taxes; cybersecurity incidents or business system disruptions; complications with the design or implementation of our updated enterprise resource planning system; activist stockholders that may attempt to effect changes at our Company or acquire control over our Company; share repurchases; and our amended and restated bylaws, which could limit our stockholders’ ability to obtain what such stockholders believe to be a favorable judicial forum for disputes with us or our directors, officers or other employees. We assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities laws. NPK’s filings with the Securities and Exchange Commission can be obtained at no charge at www.sec.gov, as well as through our website at www.npki.com.

INVESTOR RELATIONS CONTACT

Investors@npki.com

NPK International Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

Three Months Ended

(In thousands, except per share data) March 31,

2026 December 31,

2025 March 31,

2025

Revenues $ 75,070 $ 75,195 $ 64,777

Cost of revenues 47,884 46,834 39,527

Selling, general and administrative expenses 13,191 15,352 11,746

Other operating (income) loss, net (428) 444 (24)

Operating income from continuing operations 14,423 12,565 13,528

Foreign currency exchange (gain) loss 145 25 (314)

Interest (income) expense, net 323 107 (48)

Income from continuing operations before income taxes 13,955 12,433 13,890

Provision for income taxes from continuing operations (1)

3,597 1,710 3,515

Income from continuing operations 10,358 10,723 10,375

Income (loss) from discontinued operations, net of tax 100 3,881 (372)

Net income $ 10,458 $ 14,604 $ 10,003

Income (loss) per common share - basic

Income from continuing operations $ 0.12 $ 0.13 $ 0.12

Income (loss) from discontinued operations — 0.04 —

Net income $ 0.12 $ 0.17 $ 0.12

Income (loss) per common share - diluted

Income from continuing operations $ 0.12 $ 0.13 $ 0.12

Income (loss) from discontinued operations — 0.04 (0.01)

Net income $ 0.12 $ 0.17 $ 0.11

Weighted average shares:

Basic 84,416 84,406 86,057

Diluted 85,852 85,414 86,996

(1) Includes an income tax benefit of $1.5 million for the three months ended December 31, 2025, primarily reflecting the release of valuation allowances on U.S. net operating losses and other tax credit carryforwards following the sale of the Fluids Systems business.

NPK International Inc.

Operating Results

(Unaudited)

Three Months Ended

(In thousands) March 31,

2026 December 31,

2025 March 31,

2025

Revenues

Rental revenues $ 35,625 $ 34,816 $ 28,110

Service revenues 16,328 14,909 15,283

Product sales revenues 23,117 25,470 21,384

Total revenues $ 75,070 $ 75,195 $ 64,777

Operating income from continuing operations $ 14,423 $ 12,565 $ 13,528

Operating margin from continuing operations 19.2 % 16.7 % 20.9 %

NPK International Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands, except share data) March 31,

2026 December 31, 2025

ASSETS

Cash and cash equivalents $ 6,537 $ 5,140

Receivables, net 61,624 59,806

Inventories 9,336 11,500

Prepaid expenses and other current assets 4,819 5,046

Total current assets 82,316 81,492

Property, plant and equipment, net 239,777 233,048

Operating lease assets 10,244 11,195

Goodwill 75,507 76,341

Other intangible assets, net 19,678 21,297

Deferred tax assets 2,207 5,535

Other assets 8,161 12,850

Total assets $ 437,890 $ 441,758

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current debt $ 4,833 $ 5,170

Accounts payable 23,103 22,327

Accrued liabilities 24,107 29,647

Total current liabilities 52,043 57,144

Long-term debt, less current portion 5,721 11,692

Noncurrent operating lease liabilities 9,054 9,877

Deferred tax liabilities 7,168 7,476

Other noncurrent liabilities 4,120 4,413

Total liabilities 78,106 90,602

Common stock, $0.01 par value (200,000,000 shares authorized and 89,969,464 and 90,134,477 shares issued, respectively) 900 902

Paid-in capital 489,996 489,632

Accumulated other comprehensive loss (2,968) (1,610)

Retained earnings (deficit) (90,069) (100,527)

Treasury stock, at cost (5,537,255 and 5,616,798 shares, respectively) (38,075) (37,241)

Total stockholders’ equity 359,784 351,156

Total liabilities and stockholders’ equity $ 437,890 $ 441,758

NPK International Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

Three Months Ended March 31,

(In thousands) 2026 2025

Cash flows from operating activities:

Net income $ 10,458 $ 10,003

Adjustments to reconcile net income to net cash provided by operations:

Gain on divestitures (500) —

Depreciation and amortization 8,167 5,802

Stock-based compensation expense 1,720 1,185

Provision for deferred income taxes 3,207 2,917

Credit loss expense 29 6

Gain on sale of assets (621) (823)

Amortization of original issue discount and debt issuance costs 79 69

Change in assets and liabilities:

Increase in receivables (3,068) (10,015)

Decrease in inventories 2,159 5,088

Increase in other assets (41) (256)

Increase (decrease) in accounts payable 3,715 (522)

Decrease in accrued liabilities and other (4,193) (4,626)

Net cash provided by operating activities 21,111 8,828

Cash flows from investing activities:

Capital expenditures (16,684) (10,011)

Proceeds from divestitures 5,490 10,665

Proceeds from sale of property, plant and equipment 483 1,818

Other investing activities — 2,946

Net cash provided by (used in) investing activities (10,711) 5,418

Cash flows from financing activities:

Borrowings on lines of credit 12,100 —

Payments on lines of credit (17,400) —

Purchases of treasury stock (2,683) (10,810)

Proceeds from employee stock plans 491 —

Other financing activities (1,428) (865)

Net cash used in financing activities (8,920) (11,675)

Effect of exchange rate changes on cash (83) 26

Net increase in cash, cash equivalents, and restricted cash 1,397 2,597

Cash, cash equivalents, and restricted cash at beginning of period 5,140 18,237

Cash, cash equivalents, and restricted cash at end of period $ 6,537 $ 20,834

NPK International Inc.

Non-GAAP Reconciliations

(Unaudited)

To help understand the Company’s financial performance, the Company has supplemented its financial results that it provides in accordance with generally accepted accounting principles (“GAAP”) with non-GAAP financial measures. Such financial measures include Adjusted Income from Continuing Operations, Adjusted Income from Continuing Operations Per Common Share, earnings before interest, taxes, depreciation and amortization (“EBITDA”) from Continuing Operations, Adjusted EBITDA from Continuing Operations, Adjusted EBITDA Margin from Continuing Operations, and Free Cash Flow.

Adjusted Income from Continuing Operations and Adjusted Income from Continuing Operations Per Common Share

The following tables reconcile the Company’s income from continuing operations and income from continuing operations per common share calculated in accordance with GAAP to the non-GAAP financial measures of Adjusted Net Income from Continuing Operations and Adjusted Net Income from Continuing Operations Per Common Share:

Consolidated Three Months Ended

(In thousands) March 31,

2026 December 31,

2025 March 31,

2025

Income from continuing operations (GAAP) $ 10,358 $ 10,723 $ 10,375

Acquisition-related transaction costs 32 1,088 —

Severance costs — 763 27

Tax on adjustments (7) (389) (6)

Unusual tax items (1)

— (1,471) —

Adjusted Income from Continuing Operations (non-GAAP) $ 10,383 $ 10,714 $ 10,396

Weighted average common shares outstanding - basic 84,416 84,406 86,057

Dilutive effect of stock options and restricted stock awards 1,436 1,008 939

Weighted average common shares outstanding - diluted 85,852 85,414 86,996

Adjusted Income from Continuing Operations Per Common Share - Diluted (non-GAAP): $ 0.12 $ 0.13 $ 0.12

(1) Unusual tax item for the three months ended December 31, 2025, primarily reflects the release of valuation allowances on U.S. net operating losses and other tax credit carryforwards that are expected to be realized following the sale of the Fluids Systems business.

NPK International Inc.

Non-GAAP Reconciliations (Continued)

(Unaudited)

EBITDA from Continuing Operations, Adjusted EBITDA from Continuing Operations, and Adjusted EBITDA Margin from Continuing Operations

The following table reconciles the Company’s income from continuing operations calculated in accordance with GAAP to the non-GAAP financial measures of EBITDA from Continuing Operations, Adjusted EBITDA from Continuing Operations, and Adjusted EBITDA Margin from Continuing Operations:

Consolidated Three Months Ended

(In thousands) March 31,

2026 December 31,

2025 March 31,

2025

Revenues $ 75,070 $ 75,195 $ 64,777

Operating income from continuing operations (GAAP) $ 14,423 $ 12,565 $ 13,528

Income from continuing operations (GAAP) $ 10,358 $ 10,723 $ 10,375

Interest (income) expense, net 323 107 (48)

Provision for income taxes from continuing operations 3,597 1,710 3,515

Depreciation and amortization 8,167 7,302 5,802

EBITDA from Continuing Operations (non-GAAP) 22,445 19,842 19,644

Acquisition-related transaction costs 32 1,088

Severance costs — 763 27

Adjusted EBITDA from Continuing Operations (non-GAAP) $ 22,477 $ 21,693 $ 19,671

Operating Margin from Continuing Operations (GAAP) 19.2 % 16.7 % 20.9 %

Adjusted EBITDA Margin from Continuing Operations (non-GAAP) 29.9 % 28.8 % 30.4 %

Free Cash Flow

The following table reconciles the Company’s net cash provided by operating activities calculated in accordance with GAAP to the non-GAAP financial measure of Free Cash Flow:

Consolidated Three Months Ended

(In thousands) March 31,

2026 December 31,

2025 March 31,

2025

Net cash provided by operating activities (GAAP) $ 21,111 $ 18,004 $ 8,828

Capital expenditures (16,684) (12,252) (10,011)

Proceeds from sale of property, plant and equipment 483 195 1,818

Free Cash Flow (non-GAAP) $ 4,910 $ 5,947 $ 635

NPK International Inc.

Non-GAAP Reconciliations (Continued)

(Unaudited)

Trailing Twelve Months (“TTM”)

Consolidated Three Months Ended TTM

(In thousands) June 30,

2025 September 30,

2025 December 31,

2025 March 31,

2026 March 31,

2026

Revenues $ 68,233 $ 68,838 $ 75,195 $ 75,070 $ 287,336

Operating income from continuing operations (GAAP) $ 11,629 $ 9,057 $ 12,565 $ 14,423 $ 47,674

Income from continuing operations (GAAP) $ 8,784 $ 6,063 $ 10,723 $ 10,358 $ 35,928

Interest (income) expense, net 1 (47) 107 323 384

Provision (benefit) for income taxes from continuing operations 3,470 3,010 1,710 3,597 11,787

Depreciation and amortization 6,172 6,261 7,302 8,167 27,902

EBITDA from Continuing Operations (non-GAAP) 18,427 15,287 19,842 22,445 76,001

Acquisition-related transaction costs — — 1,088 32 1,120

Severance costs 359 69 763 — 1,191

Adjusted EBITDA from Continuing Operations (non-GAAP) $ 18,786 $ 15,356 $ 21,693 $ 22,477 $ 78,312

Operating Margin from Continuing Operations (GAAP) 17.0 % 13.2 % 16.7 % 19.2 % 16.6 %

Adjusted EBITDA Margin from Continuing Operations (non-GAAP) 27.5 % 22.3 % 28.8 % 29.9 % 27.3 %

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9320 Lakeside Boulevard,

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dei_DocumentPeriodEndDate

Namespace Prefix:

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Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

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Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

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No definition available.

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Address Line 2 such as Street or Suite number

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No definition available.

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Name:

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Name of the City or Town

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No definition available.

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Code for the postal or zip code

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No definition available.

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

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- Definition

Name of the state or province.

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No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

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Namespace Prefix:

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Data Type:

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Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Namespace Prefix:

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Period Type:

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- Definition

Local phone number for entity.

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No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Balance Type:

Period Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Name:

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Namespace Prefix:

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Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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Name:

dei_SolicitingMaterial

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

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No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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