0001084991-25-000024 | 10-K | XBRL Viewer | Natural GAS Services Group INC

Schedule of Balance Sheet Impact

The following table reflects the amounts related to leases that are recorded on our Consolidated Balance Sheets as of the dates presented:


	Classification on Consolidated	December 31,
Description	Balance Sheets	2024			2023
Operating lease assets	Other assets	$	607		$	210
Finance lease assets	Other assets	—			1,045
Total right of use assets		$	607		$	1,255

Current lease liabilities - operating	Accrued liabilities	$	153		$	58
Current lease liabilities - financing	Accrued liabilities	—			307
Total current lease liabilities		153			365
Noncurrent lease liabilities - operating	Other long-term liabilities	454			173
Noncurrent lease liabilities - financing	Other long-term liabilities	—			723
Total noncurrent lease liabilities		454			896
Total lease liabilities		$	607		$	1,261

Weighted average remaining lease term (in years)		3.8			3.1
Weighted average discount rate		8.3		%	9.1		%

Schedule of Cash Flow Impact

The following table summarizes the cash paid for amounts included in the measurement of liabilities included in our Consolidated Statements of Cash Flows for the periods presented:


	Year Ended December 31,
	2024		2023		2022
Operating lease cost (1) (2)	$	712	$	485	$	384
Finance lease cost	$	622	$	95	$	3

(1) Lease costs are classified in the Consolidated Statements of Operations within cost of revenues and selling, general and administrative expenses.

(2) Includes costs of $0.1 million, $0.3 million and $0.2 million for leases with terms of 12 months or less and $0.6 million, $0.2 million and $0.2 million for leases with terms greater than 12 months for the years ended December 31, 2024, 2023 and 2022, respectively.

Schedule of Future Maturities of Lease Liabilities

The following summarizes the future maturities of our lease liabilities for the periods presented:


Year Ending December 31,
2025	$	212
2026	210
2027	171
2028	135
2029	23

Total lease payments	751
Less: Imputed interest	(144)
Total	$	607

Restructuring Activities (Details) - USD ($) $ in Millions	12 Months Ended
Restructuring Activities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Severance costs		$ 1.2
Restructuring and related cost, incurred cost	$ 0.1
Former Chief Executive Officer
Restructuring Cost and Reserve [Line Items]
Severance costs			$ 2.3
Interim Chief Executive Officer
Restructuring Cost and Reserve [Line Items]
Severance costs			$ 0.2

Revenue from Contract with Customer [Abstract]

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Revenues from Customers (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Disaggregation of Revenue

The following table summarizes our revenue disaggregated by product or service type for the periods presented:


	Year Ended December 31,
	2024		2023		2022
Rental	$	144,236	$	106,159	$	74,465
Sales
Compressors	1,746		1,800		3,601
Flares	4		87		239
Other (Parts/Rebuilds)	5,863		7,034		4,728
	7,613		8,921		8,568
Aftermarket services	4,893		6,087		1,792
Total revenue	$	156,742	$	121,167	$	84,825

Rental Equipment (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Rental Equipment

The following table summarizes our rental equipment and accumulated depreciation as of the dates presented:


	December 31,
	2024		2023
Compressor units	$	579,373	$	514,527
Work-in-progress	51,662		50,867
	631,035		565,394
Accumulated depreciation	(216,014)		(191,745)
Rental equipment, net of accumulated depreciation	$	415,021	$	373,649

The following table summarizes our property and equipment as of the dates presented:


		December 31,
	Useful Lives (Years)	2024		2023
Land	—	$	1,680	$	1,680
Building	39	19,140		19,140
Leasehold improvements	39	1,346		1,295
Office equipment and furniture	5	2,057		2,039
Software	5	589		573
Machinery and equipment	7	4,430		4,113
Vehicles	3	12,739		8,770
Work-in-progress		168		589
		42,149		38,199
Less accumulated depreciation		(19,160)		(17,649)
Total		$	22,989	$	20,550

Schedule of Future Minimum Rent Payments Receivable

Future minimum rent payments from our customers for contractual arrangements not on a month-to-month basis at December 31, 2024, are as follows:


Year Ending December 31,
2025	$	105,603
2026	83,878
2027	66,751
2028	35,423
2029	10,584

Total	$	302,239

Long-Term Debt

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Long-Term Debt

Our outstanding long-term debt consists of the following as of the dates presented:


	December 31,
	2024		2023
Credit facility	$	170,000	$	164,000

We have a five-year senior secured revolving credit agreement, as amended (the “Credit Facility”) with Texas Capital Bank, National Association (the “Lender”) as administrative agent, TCBI Securities, Inc., as joint lead arranger and sole book runner and Bank of America, N.A., as joint lead arranger, with a total commitment of $300.0 million. We also have a right to request from the Lender, an increase to the potential aggregate commitment of up to $50.0 million; provided, however, the aggregate commitment amount is not permitted to exceed $350.0 million. The obligations under the Credit Facility are secured by a first priority lien on most of our assets, including inventory and certain accounts receivable as well as a variable number of our leased compressor units. The maturity date of the Credit Facility is February 28, 2028.

As of December 31, 2024, we had $170.0 million outstanding under our Credit Facility with a weighted average interest rate of 8.12%. As of December 31, 2024, we had approximately $130.0 million available for borrowing under the Credit Facility, subject to borrowing base determination. As of December 31, 2024, we were in compliance with all financial covenants in our Credit Facility.

Borrowing Base. At any time before the maturity of the Credit Facility, we may draw, repay and re-borrow amounts available under the borrowing base up to the maximum aggregate availability discussed above. Generally, the borrowing base equals the sum of (a) 85% of eligible accounts receivable owed to us, plus (b) 50% of the eligible inventory, valued at the lower of cost or market value at such time, subject to a cap of this component not to exceed $2.5 million, plus (c) the lesser of (i) 95% of the net book value of the compressors that the Lender has determined are eligible for the extension of credit, valued at the lower of cost or market value with depreciation not to exceed 25 years, at such time and (ii) 80% of the net liquidation value percentage of the net book value of the eligible compressors that the Lender has determined are eligible for the extension of credit, valued at the lower of cost or market value with depreciation not to exceed 25 years, at such time, plus (d) 80% of the net book value, valued at the lower of cost (excluding any costs for capitalized interest or other noncash capitalized costs) or market of the eligible new compressor fleet, minus (e) any required availability reserves determined by the Lender in its sole discretion. The Lender may adjust the borrowing base components if material deviations in the collateral are discovered in future audits of the collateral.

Interest and Fees. Under the terms of the Credit Facility, we have the option of selecting the applicable variable rate for each revolving loan, or portion thereof, of either (a) the Base Rate (as defined below) plus the Applicable Margin, or (b) in the case of a Term Secured Overnight Financing Rate (“SOFR”) Loan, the Adjusted Term SOFR rate plus the Applicable Margin. “Base Rate” means, for any day, a rate of interest per annum equal to the highest of (a) the prime rate for such day; (b) the sum of the federal funds rate for such day plus 0.50%; and (c) the Adjusted Term SOFR for such day plus 1.00%. The Applicable Margin is determined based upon the leverage ratio as set forth in the most recent compliance certificate received by the Lender for each fiscal quarter from time to time pursuant to the Credit Facility. Depending on the leverage ratio, the Applicable Margin can be 2.00% to 2.75% for Base Rate Loans (as defined in the Credit Facility) and 3.00% to 3.75% for Term SOFR Loans and for requested letters of credit. In addition, we are required to pay a monthly commitment fee on the daily average unused amount of the commitment while the Credit Facility is in effect at an annual rate equal to 0.50% of the unused commitment amount. Accrued interest is payable monthly on outstanding principal amounts and unused commitment fee, provided that accrued interest on Term SOFR Loans is payable at the end of each interest period, but in no event less frequently than quarterly.

Covenants. The Credit Facility contains customary representations and warranties, as well as covenants which, among other things, condition or limit our ability to incur additional indebtedness and liens; enter into transactions with affiliates; make acquisitions in excess of certain amounts; pay dividends; redeem or repurchase capital stock or senior notes; make investments or loans; make negative pledges; consolidate, merge or effect asset sales; or change the nature of our business. In addition, we are subject to certain financial covenants in the Credit Facility that require us to maintain (i) a leverage ratio, as defined, lesser than or equal to (a) 3.50 to 1.00 as of the last day of each fiscal quarter ending on or prior to December 31, 2024, (b) 3.75 to 1.00 for fiscal quarters ending on March 31, 2025 and June 30, 2025, (c) and 3.50 to 1.00 for the fiscal quarters ending September, 30, 2025, December 31, 2025 and March 31, 2026 and (d) 3.25 to 1.00 the fiscal quarter ended June 30, 2026 and for each fiscal quarter thereafter and (ii) a fixed charge coverage ratio greater than or equal to 1.25 to 1.00 as of the last day of each fiscal quarter.

Events of Default and Acceleration. The Credit Facility contains customary events of default for credit facilities of this size and type, and includes, without limitation, payment defaults; defaults in performance of covenants or other agreements contained in the Credit Facility and the other transaction documents; inaccuracies in representations and warranties; certain defaults, termination events or similar events; certain defaults with respect to any other Company indebtedness in excess of $1.0 million; certain bankruptcy or insolvency events; the rendering of certain judgments in excess of $1.0 million; certain ERISA events; certain change in control events and the defectiveness of any liens. Obligations outstanding under the Credit Facility may be accelerated upon the occurrence of an event of default.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Property, Plant and Equipment [Abstract]

Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Value	$ 0	$ 3,159
Accumulated Amortization	0	2,384
Net Book Value	0	775
Trade name
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Value	0	654
Accumulated Amortization	0	0
Net Book Value	$ 0	654
Developed technology
Finite-Lived Intangible Assets, Net [Abstract]
Useful Life (years)	20 years
Gross Carrying Value	$ 0	2,505
Accumulated Amortization	0	2,384
Net Book Value	$ 0	$ 121

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Property and Equipment

The following table summarizes our rental equipment and accumulated depreciation as of the dates presented:


	December 31,
	2024		2023
Compressor units	$	579,373	$	514,527
Work-in-progress	51,662		50,867
	631,035		565,394
Accumulated depreciation	(216,014)		(191,745)
Rental equipment, net of accumulated depreciation	$	415,021	$	373,649

The following table summarizes our property and equipment as of the dates presented:


		December 31,
	Useful Lives (Years)	2024		2023
Land	—	$	1,680	$	1,680
Building	39	19,140		19,140
Leasehold improvements	39	1,346		1,295
Office equipment and furniture	5	2,057		2,039
Software	5	589		573
Machinery and equipment	7	4,430		4,113
Vehicles	3	12,739		8,770
Work-in-progress		168		589
		42,149		38,199
Less accumulated depreciation		(19,160)		(17,649)
Total		$	22,989	$	20,550

Revenues from Customers

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenues from Customers

Disaggregation of Revenue

The following table summarizes our revenue disaggregated by product or service type for the periods presented:


	Year Ended December 31,
	2024		2023		2022
Rental	$	144,236	$	106,159	$	74,465
Sales
Compressors	1,746		1,800		3,601
Flares	4		87		239
Other (Parts/Rebuilds)	5,863		7,034		4,728
	7,613		8,921		8,568
Aftermarket services	4,893		6,087		1,792
Total revenue	$	156,742	$	121,167	$	84,825

We recognized $0.4 million in revenue for the year ended December 31, 2024, that was included in accrued liabilities at the beginning of 2024. For the periods ended December 31, 2023 and 2022, we recognized revenue of less than $0.1 million and $1.3 million from amounts related to sales that were included in deferred revenue at the beginning of 2023 and 2022, respectively.

Transaction Price Allocated to the Remaining Performance Obligations

As of December 31, 2024, we had no unsatisfied performance obligations and as of December 31, 2023, there was $0.4 million of deferred revenue related to unsatisfied performance obligations.

Contract Costs

We recognize the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that we otherwise would have recognized is one year or less. These costs are included within Selling, general and administrative expense in our Consolidated Statements of Operations.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Goodwill and Intangible Assets Disclosure [Abstract]

Inventory

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventory

The following table summarizes our inventory, net of allowances for obsolescence as of the dates presented:


	December 31,
	2024		2023
Raw materials, net of allowance of $4,379 and $2,836, respectively	$	17,706	$	20,227
Work-in-process	345		1,412

Inventory - current	18,051		21,639
Raw materials - long term, net of allowance of $1,488 and $1,168, respectively	—		701
Total inventory	$	18,051	$	22,340

Our long-term inventory, which is fully reserved as of December 31, 2024, consists of excess raw materials that remain viable but with limited market opportunities.

The following table summarizes the changes in our allowance for obsolescence for the periods presented:


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	4,004	$	120	$	64
Allowance for obsolescence	1,863		3,965		83
Write-offs	—		(81)		(27)
Ending balance	$	5,867	$	4,004	$	120

The allowance for 2023 was primarily related to our decision to cease future compressor assembly at our Midland, Texas facility, which reduced the expected future demand of certain inventory items held at this facility. In 2024, we continued actions in support of our strategy to further outsource assembly activities to third parties resulting in an additional allowance charge.

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Identified Finite-Lived Intangible Assets, Finite Lived

The following table summarizes our intangible assets by major asset class as of the dates presented:


		December 31, 2024						December 31, 2023
	Useful Life (years)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Gross Carrying Value		Accumulated Amortization		Net Book Value
Developed technology	20	$	—	$	—	$	—	$	2,505	$	2,384	$	121
Trade name	Indefinite	—		—		—		654		—		654
Total		$	—	$	—	$	—	$	3,159	$	2,384	$	775

Schedule of Identified Indefinite-Lived Intangible Assets

The following table summarizes our intangible assets by major asset class as of the dates presented:


		December 31, 2024						December 31, 2023
	Useful Life (years)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Gross Carrying Value		Accumulated Amortization		Net Book Value
Developed technology	20	$	—	$	—	$	—	$	2,505	$	2,384	$	121
Trade name	Indefinite	—		—		—		654		—		654
Total		$	—	$	—	$	—	$	3,159	$	2,384	$	775

Trade Accounts Receivable

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Trade Accounts Receivable

The following table summarizes our trade accounts receivable from customers as of the dates presented:


	December 31,
	2024		2023
Trade accounts receivable
Rentals	$	14,218	$	32,871
Sales and aftermarket services	2,657		7,138
	16,875		40,009
Less: Allowance for credit losses	(1,249)		(823)
Total trade accounts receivable, net	$	15,626	$	39,186

Our trade accounts receivable consist of customer obligations due under normal trade terms for (i) operating leases for the use of our natural gas compressors, (ii) the sale of compressors and flare systems and (iii) the performance of aftermarket services.

Major Customers and Concentration of Credit Risk

Rental revenue and sales from Occidental Permian, LTD. (“Oxy”) in 2024, 2023 and 2022 amounted to 54 percent, 50 percent and 42 percent of revenue, respectively. No other single customer accounted for more than 10 percent of our revenues in 2024, 2023 and 2022. Oxy’s accounts receivable balances amounted to 52 percent and 64 percent of our accounts receivable as of December 31, 2024 and 2023, respectively. No other customers amounted to more than 10 percent of our accounts receivable as of December 31, 2024 and 2023.

Allowance for Credit Losses

The following table summarizes the changes in our allowance for credit losses for the periods presented:


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	823	$	338	$	1,129
Provision for credit losses	433		492		—

Write-offs	(7)		(7)		(791)
Ending balance	$	1,249	$	823	$	338

Management believes that the allowance is adequate; however, actual write-offs may exceed the recorded allowance.

Earnings (Loss) per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share

The following table reconciles the numerators and denominators of the basic and diluted earnings (loss) per share computation for the periods presented:


	Year Ended December 31,
	2024		2023		2022
Numerator for basic and diluted earnings (loss) per share:
Net income (loss)	$	17,227	$	4,747	$	(569)
Denominator for basic earnings (loss) per common share:
Weighted average common shares outstanding - Basic	12,412		12,316		12,305
Denominator for diluted earnings (loss) per share:
Weighted average common shares outstanding	12,412		12,316		12,305
Dilutive effect of stock-based compensation awards	142		67		—
Weighted average common shares outstanding - Diluted	12,554		12,383		12,305
Earnings (loss) per share:
Basic	$	1.39	$	0.39	$	(0.05)
Diluted	$	1.37	$	0.38	$	(0.05)

Revenues from Customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Rental	$ 144,236	$ 106,159	$ 74,465
Total revenue	156,742	121,167	84,825
Compressors
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,746	1,800	3,601
Flares
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	4	87	239
Other (Parts/Rebuilds)
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	5,863	7,034	4,728
Aftermarket services
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	4,893	6,087	1,792
Sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 7,613	$ 8,921	$ 8,568

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Property, Plant and Equipment [Abstract]

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Finance lease, remaining lease term	3 years
Operating lease cost	$ 712	$ 485	$ 384
Operating lease, cost	$ 600	$ 200	$ 200
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	5 years

Property and Equipment, net

12 Months Ended

Dec. 31, 2024

Property and Equipment, net

The following table summarizes our property and equipment as of the dates presented:


		December 31,
	Useful Lives (Years)	2024		2023
Land	—	$	1,680	$	1,680
Building	39	19,140		19,140
Leasehold improvements	39	1,346		1,295
Office equipment and furniture	5	2,057		2,039
Software	5	589		573
Machinery and equipment	7	4,430		4,113
Vehicles	3	12,739		8,770
Work-in-progress		168		589
		42,149		38,199
Less accumulated depreciation		(19,160)		(17,649)
Total		$	22,989	$	20,550

Depreciation expense for property and equipment was $2.4 million, $2.4 million and $2.1 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Trade Accounts Receivable - Schedule of Accounts Receivable and Deferred Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Trade accounts receivable
Trade accounts receivable	$ 16,875	$ 40,009
Less: Allowance for credit losses	(1,249)	(823)
Total trade accounts receivable, net	15,626	39,186
Rentals
Trade accounts receivable
Trade accounts receivable	14,218	32,871
Sales and aftermarket services
Trade accounts receivable
Trade accounts receivable	$ 2,657	$ 7,138

Stock-Based and Other Long-Term Incentive Compensation - Other Long-Term Incentive Compensation Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 2,069	$ 2,054	$ 1,910
Other Long-Term Incentive Compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense		$ 400	$ 1,000

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Schedule of Accounts, Notes, Loans and Financing Receivable

Trade Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

The following table summarizes our trade accounts receivable from customers as of the dates presented:


	December 31,
	2024		2023
Trade accounts receivable
Rentals	$	14,218	$	32,871
Sales and aftermarket services	2,657		7,138
	16,875		40,009
Less: Allowance for credit losses	(1,249)		(823)
Total trade accounts receivable, net	$	15,626	$	39,186

Schedule of Allowance for Credit Losses

The following table summarizes the changes in our allowance for credit losses for the periods presented:


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	823	$	338	$	1,129
Provision for credit losses	433		492		—

Write-offs	(7)		(7)		(791)
Ending balance	$	1,249	$	823	$	338

Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory rate	$ (4,550)	$ (1,390)	$ 9
State and local taxes	130	86	333
Stock-based compensation	195	(46)	(24)
Nondeductible compensation	(65)	(543)	(757)
Other	(149)	20	(89)
Provision for income taxes	$ (4,439)	$ (1,873)	$ (528)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory rate (as a percent)	21.00%	21.00%	21.00%
State and local taxes (as a percent)	(0.60%)	(1.30%)	812.20%
Stock-based compensation (as a percent)	(0.90%)	0.70%	(58.50%)
Nondeductible compensation (as a percent)	0.30%	8.20%	(1846.30%)
Other (as a percent)	0.70%	(0.30%)	(217.10%)
Effective Rate (as a percent)	20.50%	28.30%	(1288.70%)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 2,142	$ 2,746
Trade accounts receivable, net of provision for credit losses	15,626	39,186
Inventory, net of allowance for obsolescence	18,051	21,639
Federal income tax receivable	11,282	11,538
Prepaid expenses and other	1,075	1,162
Total current assets	48,176	76,271
Long-term inventory, net of allowance for obsolescence	0	701
Rental equipment, net of accumulated depreciation	415,021	373,649
Property and equipment, net of accumulated depreciation	22,989	20,550
Intangible assets, net of accumulated amortization	0	775
Other assets	6,342	6,783
Total assets	492,528	478,729
Current Liabilities:
Accounts payable	9,670	17,628
Accrued liabilities	7,688	15,085
Total current liabilities	17,358	32,713
Line of credit	170,000	164,000
Deferred income taxes	45,873	41,636
Other long-term liabilities	4,240	4,486
Total liabilities	237,471	242,835
Commitments and contingencies (Note 13)
Stockholders’ Equity:
Preferred stock, 5,000 shares authorized, no shares issued or outstanding	0	0
Common stock, 30,000 shares authorized, par value $0.01; 13,762 and 13,688 shares issued, as of December 31, 2024 and 2023, respectively	138	137
Additional paid-in capital	118,415	116,480
Retained earnings	151,508	134,281
Treasury shares, at cost, 1,310 shares for each of December 31, 2024 and 2023, respectively	(15,004)	(15,004)
Total stockholders’ equity	255,057	235,894
Total liabilities and stockholders’ equity	$ 492,528	$ 478,729

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Deferred Compensation Plan	12 Months Ended
Deferred Compensation Plan	Dec. 31, 2024
Compensation Related Costs [Abstract]
Deferred Compensation Plan	Deferred Compensation Plan Effective January 1, 2016, we established a non-qualified deferred compensation plan (the “Deferred Compensation Plan”) for executive officers, directors and certain eligible employees. The assets of the Deferred Compensation Plan are held in a rabbi trust and are subject to additional risk of loss in the event of bankruptcy or insolvency of the Company. The Deferred Compensation Plan allows for deferral of up to 90 percent of a participant’s base salary, bonus, commissions, director fees and restricted stock awards. Company owned life insurance (“COLI”) policies are held in the rabbi trust are utilized as a source of funding for the Deferred Compensation Plan. The cash surrender value of the COLI policies was $3.0 million and $3.0 million as of December 31, 2024 and 2023, respectively, with unrealized gains and (losses) related to the policies of $0.2 million, $(0.2) million and $(0.4) million recorded as a component of Other income (expense) in our Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022, respectively. For deferrals of base salary, bonus, commissions and director fees, settlement payments are made to participants in cash, either in a lump sum or in periodic installments. The obligations to pay the deferred compensation and the deferred director fees are adjusted to reflect the positive or negative performance of investment measurement options selected by each participant and was $3.8 million and $3.6 million as of December 31, 2024 and 2023, respectively. The deferred obligations are included as a component of Other long-term liabilities on our Consolidated Balance Sheets. For deferrals of restricted stock awards, the Deferred Compensation Plan does not allow for diversification, therefore, distributions are paid in shares of our common stock and the obligations are carried at their grant date fair values. As of December 31, 2024 and 2023, respectively, there were no unvested RSUs being deferred. As of December 31, 2024 and 2023, respectively we have released and issued 191,700 and 191,700 shares to the Deferred Compensation Plan with a value of $4.8 million and $2.7 million, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

The following table summarizes our provision for income taxes for the presented:


	Year Ended December 31,
	2024		2023		2022
Current income tax expense:
Federal	$	(88)	$	—	$	—
State	(114)		(35)		(17)
Total current income tax expense	(202)		(35)		(17)
Deferred income tax (expense) benefit:
Federal	(4,456)		(1,940)		(857)
State	219		102		346
Total deferred income tax (expense) benefit	(4,237)		(1,838)		(511)
Provision for income taxes	$	(4,439)	$	(1,873)	$	(528)

The following table summarizes the effective tax rates for the periods presented:


	Year Ended December 31,
	2024				2023				2022
Statutory rate	$	(4,550)	21.0	%	$	(1,390)	21.0	%	$	9	21.0	%
State and local taxes	130		(0.6)	%	86		(1.3)	%	333		812.2	%
Stock-based compensation	195		(0.9)	%	(46)		0.7	%	(24)		(58.5)	%
Nondeductible compensation	(65)		0.3	%	(543)		8.2	%	(757)		(1,846.3)	%
Other	(149)		0.7	%	20		(0.3)	%	(89)		(217.1)	%
Effective rate	$	(4,439)	20.5	%	$	(1,873)	28.3	%	$	(528)	(1,288.7)	%

We file income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions, we are no longer subject to U.S. federal or state income tax examination by tax authorities for years before 2015.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in response to the economic impact caused by the COVID-19 pandemic. The CARES Act, among other things, permits federal income tax net operating loss (“NOL”) carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid federal income taxes. We generated significant NOLs during 2018 and 2019 and filed carryback claims for these losses to the preceding five years.

In connection with the filing of these claims, we initially recorded a federal income tax receivable of approximately $15.0 million and an increase of approximately $10.1 million to our deferred tax liability as of March 31, 2020. During 2020, we received federal income tax refunds corresponding to the 2018 NOL carryback leaving approximately $11.3 million remaining to be refunded. In conjunction with the remaining $11.3 million income tax refund claim, we received a notice from the Internal Revenue Service (“IRS”) on March 8, 2023, stating that our income tax returns for 2015, 2016, 2017 and 2019 were selected for examination. Furthermore and as is customary for income tax refunds of this magnitude, the IRS is required to review the refund claim and provide a report to the Joint Committee on Taxation of the U.S. Congress (“JCT”).

The following table summarizes the income tax effects of temporary differences that give rise to significant portions of deferred income tax assets and (liabilities) as of the periods presented:


	December 31,
	2024		2023
Deferred income tax assets:
Net operating loss carryforward	$	20,600	$	22,190
Research and development credits	1,011		1,313
Stock-based compensation	269		153
Interest expense	2,756		991
Inventory reserves	1,293		893
Deferred compensation	827		792
Other	569		285
Total deferred income tax assets	27,325		26,617
Deferred income tax liabilities:
Property and equipment	(73,198)		(68,110)
Intangible assets	—		(143)
Total deferred income tax liabilities	(73,198)		(68,253)
Net deferred income tax liabilities	$	(45,873)	$	(41,636)

As of December 31, 2024, we had NOL carryforwards for federal income tax purposes of $89.5 million, which may be carried forward indefinitely and can offset up to 80% of future taxable income in any given year. Future changes in ownership, as defined by Section 382 of the Internal Revenue Code of 1986, as amended (“IRC”), could limit the amount of NOL carryforwards used in any one year. In general, under Section 382 and 383 of the IRC, a corporation that undergoes an “ownership change” is subject to limitations on its ability to utilize its pre-change NOLs and certain tax credits, to offset future taxable income and tax. In general, an ownership change occurs if the aggregate stock ownership of certain stockholders changes by more than 50 percentage points over such stockholders’ lowest percentage of ownership during the testing period (generally three years). We also had state NOL carryforwards of $46.6 million with carryforward periods similar to those of our federal NOLs.

We have no reserves for uncertain tax positions as of December 31, 2024 and 2023.

The entire disclosure for income tax.

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Trade Accounts Receivable - Narrative (Details) - Oxy - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Sales and Rental Income
Concentration Risk [Line Items]
Concentration risk, percentage	54.00%	50.00%	42.00%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	52.00%	64.00%

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 17,227	$ 4,747	$ (569)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Schedule of Outstanding Long-Term Debt

Income Taxes - Narrative (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2024	Dec. 31, 2023
Operating Loss Carryforwards [Line Items]
Federal income tax receivable	$ 15,000,000	$ 11,282,000	$ 11,538,000
Deferred tax liability increase due to tax law change	$ 10,100,000
Net operating loss carryforward		89,500,000
Amount of reserve for uncertain tax positions		0	$ 0
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward		$ 46,600,000

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings From time to time, we are a party to various claims and legal proceedings arising from our operations in the ordinary course of our business. We are not currently a party to any material legal proceedings, and we are not aware of any threatened material litigation. While the outcome of any potential claims and legal proceedings against us cannot be predicted with certainty, we have concluded that it is mot considered reasonably possible that a loss resulting from any such claims or proceedings in excess of any amounts accrued has been incurred that is expected to have a material adverse effect on our financial position, results of operations or cash flows. Furthermore, we believe that we maintain adequate insurance coverage against any potential litigation loss relating to insurable risks.

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Our outstanding long-term debt consists of the following as of the dates presented:


	December 31,
	2024		2023
Credit facility	$	170,000	$	164,000

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Leases

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Leases

Our operating leases are primarily related to property leases for field offices and office equipment. Our operating leases have remaining lease terms of one to five years. Renewal and termination options are included in the lease term when it is reasonably certain that we will exercise the option. Our finance leases were primarily related to vehicles used in our rental business; however, we terminated all such leases during 2024 and purchased the vehicles and recorded them in property and equipment. Prior to their termination, our finance leases generally had lease terms of three years. Our lease agreements do not contain any contingent rental payments, material residual guarantees or material restrictive covenants.

The following table reflects the amounts related to leases that are recorded on our Consolidated Balance Sheets as of the dates presented:


	Classification on Consolidated	December 31,
Description	Balance Sheets	2024			2023
Operating lease assets	Other assets	$	607		$	210
Finance lease assets	Other assets	—			1,045
Total right of use assets		$	607		$	1,255

Current lease liabilities - operating	Accrued liabilities	$	153		$	58
Current lease liabilities - financing	Accrued liabilities	—			307
Total current lease liabilities		153			365
Noncurrent lease liabilities - operating	Other long-term liabilities	454			173
Noncurrent lease liabilities - financing	Other long-term liabilities	—			723
Total noncurrent lease liabilities		454			896
Total lease liabilities		$	607		$	1,261

Weighted average remaining lease term (in years)		3.8			3.1
Weighted average discount rate		8.3		%	9.1		%

Operating lease costs are recognized on a straight-line basis over the lease term. Total operating lease costs for the years ended December 31, 2024, 2023 and 2022 were approximately $0.7 million, $0.5 million and $0.4 million, respectively.

The following table summarizes the cash paid for amounts included in the measurement of liabilities included in our Consolidated Statements of Cash Flows for the periods presented:


	Year Ended December 31,
	2024		2023		2022
Operating lease cost (1) (2)	$	712	$	485	$	384
Finance lease cost	$	622	$	95	$	3

(1) Lease costs are classified in the Consolidated Statements of Operations within cost of revenues and selling, general and administrative expenses.

The following summarizes the future maturities of our lease liabilities for the periods presented:


Year Ending December 31,
2025	$	212
2026	210
2027	171
2028	135
2029	23

Total lease payments	751
Less: Imputed interest	(144)
Total	$	607

Rent expense under such leases was $0.6 million, $0.2 million and $0.2 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The accompanying Consolidated Financial Statements were prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and include the accounts of the Company, its subsidiary, NGSG Properties, LLC, which owns our headquarters office building and the rabbi trust associated with our deferred compensation plan (see Note 1 2). All significant intercompany accounts and transactions for the periods presented have been eliminated in consolidation. Certain reclassification have been made to prior periods to conform to the current presentation. In our Consolidated Statements of Operations, (gains) and losses on the sale of property equipment have been reclassified from selling, general and administrative expenses to a stand-alone caption included within total operating income. Use of Estimates The preparation of our Consolidated Financial Statements in conformity with GAAP requires our management to make estimates and assumptions that affect the amounts reported in these Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates. Significant estimates include fixed asset lives, provision for credit losses and the allowance for inventory obsolescence. Additionally, we conduct an annual review of our long-lived assets for impairment. In connection with the review, determining factors are based on estimates that can significantly impact the carrying value of these assets. It is at least reasonably possible these estimates could be revised in the near term and the revisions could be material. Cash and Cash Equivalents For purposes of reporting cash flows, we consider all short-term investments with an original maturity of three months or less to be cash equivalents. At times, cash balances at banks and financial institutions may exceed federally insured amounts. Accounts Receivable and Credit Losses Our trade accounts receivables are not collateralized except as provided for under certain lease agreements.We perform ongoing credit evaluations of our customers and adjust credit limits based on management’s assessment of the customer’s financial condition and payment history, as well as industry and general economic conditions. We continuously monitor collections and payments from our customers, and maintain an allowance for estimated credit losses based upon our historical experience and any specific customer collection issues that we have identified as well as forecasts of future economic conditions. While such credit losses have historically been within our expectations and the allowance established, we cannot guarantee that we will continue to experience the same credit loss rates that we have in the past. Revenue Recognition The following is a description of principal activities from which we generate our revenue and the accounting policies that we apply for the recognition thereof: Rental Revenue. We generate revenue from renting compressor equipment to our customers for the right to control the use of the equipment ratably over the term of the underlying agreement. Our agreements for rental equipment qualify as operating leases under Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC 842”) as we retain the primary exposure to changes in the underlying equipment’s value as the lessor unlike a sale or secured lending arrangement. Our agreements may also include a fee for servicing the equipment during the term of the rental contract. We have applied the practical expedient provided in ASC 842, which allows us to combine lease and non-lease components. Our rental contracts typically range from six to 60 months. As a lessor, we recognize operating lease revenue on a straight-line basis with equal monthly payments over the term of the underlying agreements. After the terms of the agreement have expired, a customer may renew their contract or continue renting on a monthly basis thereafter. The leased equipment is generally skid-mounted and can be moved to different locations at the direction of our customers. The leased equipment assets remain on our Consolidated Balance Sheets consistent with other property and equipment. Cash receipts associated with our lease agreements are classified within cash flows from operating activities in our Consolidated Statements of Cash Flows. Sales and Aftermarket Services Revenue. We generate revenue from the sale of custom/assembled compressors, flare systems and parts, as well as exchange/rebuilding customer owned compressors and sale of used rental equipment. We also provide routine aftermarket or call-out services on customer owned equipment. Consistent with ASC Topic 606, Revenues from Contracts with Customers (“ASC 606”), revenue is measured and recognized based on a consideration specified in a customer’s contract, excluding any sale incentives and taxes collected on behalf of third parties (i.e. sales and property taxes). Revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that we expect to receive for those goods or services. To recognize revenue, we (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when, or as, we satisfy the performance obligation(s). Transaction prices are not subject to variable consideration constraints. Shipping and handling costs incurred are accounted for as fulfillment costs and are included in cost of revenues in our Consolidated Statements of Operations. For sales, revenue is recognized when control has passed to the customer generally when the equipment is completed and shipped. We request some of our customers to make progressive payments as the product is being built; these payments are recorded as deferred revenue within Accrued liabilities on the Consolidated Balance Sheet until control has been transferred. These contracts also may include an assurance warranty clause to guarantee the product is free from defects in material and workmanship for a set duration of time; this is a standard industry practice and is not considered a performance obligation. The amount of revenue recognized is not adjusted for expected returns, as our historical part returns have been de minimis. Revenue for aftermarket and other services is recognized after the services in the contract are rendered. Inventory Valuation Inventory (current and long-term) is valued at the lower of cost or net realizable value. The cost of inventories is determined by the weighted average method. We regularly review inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on current and anticipated customer demand and production requirements. We routinely review our inventory allowance balance to account for slow moving or obsolete inventory costs that may not be recoverable in the future. We assess anticipated customer demand based on current and upcoming capital expenditure budgets of our major customers as well as other significant companies in the industry, along with oil and gas price forecasts and other factors affecting the industry. Our long-term inventory consisted of raw materials and replacement parts that remain useable but that we do not expect to sell or use within the next year. Long-Lived Assets Rental equipment and property and equipment are recorded at cost less accumulated depreciation, except for work-in-progress on new rental equipment which is recorded at cost until it’s complete and added to our fleet. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Our rental equipment has estimated useful lives between 15 and 25 years, while our property and equipment has estimated useful lives which range from 3 to 39 years. The majority of our property and equipment, including rental equipment, is a direct cost to generating revenue. We assess our rental equipment and property and equipment for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The following factors could trigger an impairment review: significant underperformance relative to historical or projected future cash flows; significant adverse changes in the extent or manner in which the asset (or asset group) is being used or its condition, including a meaningful drop in fleet utilization over the prior four quarters; significant negative industry or company-specific trends or actions, including meaningful capital expenditure budget reductions by our major customers or other sizable exploration and production or midstream companies, as well as significant declines in oil and gas prices; legislative changes prohibiting us from leasing our compressor units; or poor general economic conditions. An impairment loss is recognized if the future undiscounted cash flows associated with the asset (or asset group) and the estimated fair value of the asset are less than the asset’s carrying value. Sales of equipment out of the rental fleet are included with sales revenue and cost of sales, while retirements of units are presented as a separate operating expense. Maintenance and repairs are charged to cost of rentals as incurred. Intangible Assets We amortize intangible assets with definite lives over their useful lives and review for impairment when indicators of impairment are present. We review indefinite-lived intangible assets for impairment annually or when indicators of impairment are present. We review intangibles through an assessment of the estimated future cash flows related to such assets. In the event that assets are found to be carried at amounts in excess of estimated undiscounted future cash flows, then the assets will be adjusted for impairment to a level commensurate with a discounted cash flow analysis of the underlying assets. As of December 31, 2024, we no longer have any intangible assets (see Note 8). Leases We determine if an arrangement is a lease at inception by assessing whether it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. GAAP requires all leases to be reported on the balance sheet as right-of-use (“ROU”) assets and lease obligations. We determine if an arrangement is a lease at inception and determine lease classification and recognize ROU assets and liabilities on the lease commencement date based on the present value of lease payments over the lease term. As the discount rate implicit in the lease is rarely readily determinable, we estimate our incremental borrowing rate using information available at the commencement date in determining the present value of the lease payments. We, as a lessee, apply the practical expedient to not separate non-lease components from lease components, therefore, accounting for each separate lease component and its associated non-lease component, as a single lease component. For each lease that (i) contains the same timing and pattern of transfer for lease and non-lease components and (ii) if the lease component, if accounted for separately, would be classified as an operating lease, we have elected to not separate non-lease components from lease components. Right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As substantially all of our leases do not provide an implicit rate, we use our incremental borrowing rate, which is based on a fully collateralized loan over the lease term, to determine the present value of lease payments. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, and net operating losses and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the statutory enactment date. Valuation allowances are established to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. With respect to uncertain tax positions, GAAP prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In order to record any financial statement benefit, we are required to determine, based on technical merits of the position, whether it is more likely than not (a likelihood of more than 50 percent) that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes. If that step is satisfied, then we must measure the tax position to determine the amount of benefit to recognize in the financial statements. The tax position is measured at the largest amount of the benefit that is greater than 50 percent likely of being realized upon ultimate settlement. We had no liabilities for uncertain tax positions as of December 31, 2024 and 2023. Our policy regarding income tax interest and penalties is to charge those items as components of interest expense and other expense, respectively. Capitalized Interest We capitalize interest from external borrowings on significant expenditures for the assembly of our natural gas compressor equipment until such projects are ready for their intended use. Capitalized interest is added to the cost of the underlying asset and is amortized over the useful lives of the assets in the same manner as the underlying assets. Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. GAAP provides for a fair value hierarchy, which requires an entity to maximize the use of observable inputs when measuring fair value. These inputs are categorized as follows: Level 1 - quoted prices in an active market for identical assets or liabilities; Level 2 - quoted prices in an active market for similar assets or liabilities, inputs other than quoted prices that are observable for similar assets or liabilities, inputs derived principally from or corroborated by observable market data by correlation or other means; and Level 3 - valuation methodology with unobservable inputs that are significant to the fair value measurement. We believe that the fair value of our cash and cash equivalents, trade accounts receivables, and accounts payable as of December 31, 2024 and 2023 approximate their carrying values due to the short-term nature of the instruments or the use of prevailing market interest rates. We considered the borrowings under our credit facility to approximate fair value based upon variable interest rates currently available to us for loans with similar terms (level 2). Segments and Related Information GAAP defines the characteristics of an operating segment as (i) being engaged in business activity from which it may earn revenue and incur expenses, (ii) being reviewed by the Company’s chief operating decision maker (“CODM”) for decisions about resources to be allocated and assess its performance and (iii) having discrete financial information. Although we review our products to analyze the nature of our revenue, costs and expenses, the net income and non-GAAP financial measures including EBITDA and Adjusted gross margin are not captured or analyzed by these categories. Our chief executive officer (“CEO”) serves as the CODM and does not make resource allocation decisions or assess the performance of the business based on these categories, but rather on the entire entity in the aggregate. Accordingly, the measures of profit and loss and total assets are effectively those of the Company as a whole as reflected in these Consolidated Financial Statements. Based on these facts and underlying circumstances described further below, we have concluded that we operate in one business segment. We are primarily engaged in the business of leasing natural gas compressors to our customers. In addition, we design, assemble and sell natural gas compressors and provide aftermarket services on compressors in our fleet and to third parties. These business activities are similar in all geographic areas in which we operate. Our customers primarily consist of entities in the business of producing oil and gas. The maintenance and service of our products is consistent across the entire Company and is performed by a dedicated group of employees via an internal fleet of vehicles. The regulatory environment is similar in every jurisdiction in that the most impacting regulations and practices are the result of federal energy policy. Recently Adopted Accounting Pronouncements In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-09 “Income Taxes (Topics 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”) to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. We elected to early adopt ASU 2023-09 effective with our financial reporting for the year ended December 31, 2024 and have applied the provisions on a retrospective basis for all periods presented in these Consolidated Financial Statements. Accordingly, the enhanced disclosures required of ASU 2023-09 are provided in Note 1 1. In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”) which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. We adopted ASU 2023-07 effective January 1, 2024 and the required disclosures are referenced above in our discussion of Segments and Related Information. Recently Issued Accounting Pronouncements Pending Adoption In November 2024, the FASB issued ASU 2024-03 “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expense” (“ASU 2024-03”) which expands annual and interim disclosures expenses for certain types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented expense captions (such as cost of sales, selling, general & administrative expenses, and research and development). ASU 2024-03 is effective for annual periods beginning January 1, 2027, and for interim periods beginning January 1, 2028, with early adoption permitted. The adoption of ASU 2024-03 is not expected to have a material impact on our Consolidated Financial Statements or disclosures.

Rental Equipment - Schedule of Rental Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Rental equipment, gross	$ 631,035	$ 565,394
Accumulated depreciation	(216,014)	(191,745)
Rental equipment, net of accumulated depreciation	415,021	373,649
Compressor units
Property, Plant and Equipment [Line Items]
Rental equipment, gross	579,373	514,527
Work-in-progress
Property, Plant and Equipment [Line Items]
Rental equipment, gross	$ 51,662	$ 50,867

Description of Business	12 Months Ended
Description of Business	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of BusinessNatural Gas Services Group, Inc. (the “Company”, “NGS,” “Natural Gas Services Group,” “we,” “us” or “our”) (a Colorado corporation), is a leading provider of natural gas compression equipment, technology and services to the energy industry. We rent, design, sell, install, service and maintain natural gas compressors and related equipment for our customers’ oil and gas production and processing facilities, generally using equipment from OEM suppliers along with limited in-house assembly. We are headquartered in Midland, Texas, with an assembly facility located in Tulsa, Oklahoma, a repair and overhaul shop in Midland, Texas, and service facilities located in major oil and gas producing basins in the United States (“U.S.”).

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2024
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying Consolidated Financial Statements were prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and include the accounts of the Company, its subsidiary, NGSG Properties, LLC, which owns our headquarters office building and the rabbi trust associated with our deferred compensation plan (see Note 1 2). All significant intercompany accounts and transactions for the periods presented have been eliminated in consolidation. Certain reclassification have been made to prior periods to conform to the current presentation. In our Consolidated Statements of Operations, (gains) and losses on the sale of property equipment have been reclassified from selling, general and administrative expenses to a stand-alone caption included within total operating income.
Use of Estimates	Use of Estimates The preparation of our Consolidated Financial Statements in conformity with GAAP requires our management to make estimates and assumptions that affect the amounts reported in these Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates. Significant estimates include fixed asset lives, provision for credit losses and the allowance for inventory obsolescence. Additionally, we conduct an annual review of our long-lived assets for impairment. In connection with the review, determining factors are based on estimates that can significantly impact the carrying value of these assets. It is at least reasonably possible these estimates could be revised in the near term and the revisions could be material.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of reporting cash flows, we consider all short-term investments with an original maturity of three months or less to be cash equivalents. At times, cash balances at banks and financial institutions may exceed federally insured amounts.
Accounts Receivable and Credit Losses	Accounts Receivable and Credit Losses Our trade accounts receivables are not collateralized except as provided for under certain lease agreements.We perform ongoing credit evaluations of our customers and adjust credit limits based on management’s assessment of the customer’s financial condition and payment history, as well as industry and general economic conditions. We continuously monitor collections and payments from our customers, and maintain an allowance for estimated credit losses based upon our historical experience and any specific customer collection issues that we have identified as well as forecasts of future economic conditions. While such credit losses have historically been within our expectations and the allowance established, we cannot guarantee that we will continue to experience the same credit loss rates that we have in the past.
Revenue Recognition	Revenue Recognition The following is a description of principal activities from which we generate our revenue and the accounting policies that we apply for the recognition thereof: Rental Revenue. We generate revenue from renting compressor equipment to our customers for the right to control the use of the equipment ratably over the term of the underlying agreement. Our agreements for rental equipment qualify as operating leases under Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC 842”) as we retain the primary exposure to changes in the underlying equipment’s value as the lessor unlike a sale or secured lending arrangement. Our agreements may also include a fee for servicing the equipment during the term of the rental contract. We have applied the practical expedient provided in ASC 842, which allows us to combine lease and non-lease components. Our rental contracts typically range from six to 60 months. As a lessor, we recognize operating lease revenue on a straight-line basis with equal monthly payments over the term of the underlying agreements. After the terms of the agreement have expired, a customer may renew their contract or continue renting on a monthly basis thereafter. The leased equipment is generally skid-mounted and can be moved to different locations at the direction of our customers. The leased equipment assets remain on our Consolidated Balance Sheets consistent with other property and equipment. Cash receipts associated with our lease agreements are classified within cash flows from operating activities in our Consolidated Statements of Cash Flows. Sales and Aftermarket Services Revenue. We generate revenue from the sale of custom/assembled compressors, flare systems and parts, as well as exchange/rebuilding customer owned compressors and sale of used rental equipment. We also provide routine aftermarket or call-out services on customer owned equipment. Consistent with ASC Topic 606, Revenues from Contracts with Customers (“ASC 606”), revenue is measured and recognized based on a consideration specified in a customer’s contract, excluding any sale incentives and taxes collected on behalf of third parties (i.e. sales and property taxes). Revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that we expect to receive for those goods or services. To recognize revenue, we (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when, or as, we satisfy the performance obligation(s). Transaction prices are not subject to variable consideration constraints. Shipping and handling costs incurred are accounted for as fulfillment costs and are included in cost of revenues in our Consolidated Statements of Operations. For sales, revenue is recognized when control has passed to the customer generally when the equipment is completed and shipped. We request some of our customers to make progressive payments as the product is being built; these payments are recorded as deferred revenue within Accrued liabilities on the Consolidated Balance Sheet until control has been transferred. These contracts also may include an assurance warranty clause to guarantee the product is free from defects in material and workmanship for a set duration of time; this is a standard industry practice and is not considered a performance obligation. The amount of revenue recognized is not adjusted for expected returns, as our historical part returns have been de minimis. Revenue for aftermarket and other services is recognized after the services in the contract are rendered.
Inventory Valuation	Inventory Valuation Inventory (current and long-term) is valued at the lower of cost or net realizable value. The cost of inventories is determined by the weighted average method. We regularly review inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on current and anticipated customer demand and production requirements. We routinely review our inventory allowance balance to account for slow moving or obsolete inventory costs that may not be recoverable in the future. We assess anticipated customer demand based on current and upcoming capital expenditure budgets of our major customers as well as other significant companies in the industry, along with oil and gas price forecasts and other factors affecting the industry. Our long-term inventory consisted of raw materials and replacement parts that remain useable but that we do not expect to sell or use within the next year.
Long-Lived Assets	Long-Lived Assets Rental equipment and property and equipment are recorded at cost less accumulated depreciation, except for work-in-progress on new rental equipment which is recorded at cost until it’s complete and added to our fleet. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Our rental equipment has estimated useful lives between 15 and 25 years, while our property and equipment has estimated useful lives which range from 3 to 39 years. The majority of our property and equipment, including rental equipment, is a direct cost to generating revenue.
Impairment of Rental Equipment and property and equipment	We assess our rental equipment and property and equipment for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The following factors could trigger an impairment review: significant underperformance relative to historical or projected future cash flows; significant adverse changes in the extent or manner in which the asset (or asset group) is being used or its condition, including a meaningful drop in fleet utilization over the prior four quarters; significant negative industry or company-specific trends or actions, including meaningful capital expenditure budget reductions by our major customers or other sizable exploration and production or midstream companies, as well as significant declines in oil and gas prices; legislative changes prohibiting us from leasing our compressor units; or poor general economic conditions. An impairment loss is recognized if the future undiscounted cash flows associated with the asset (or asset group) and the estimated fair value of the asset are less than the asset’s carrying value. Sales of equipment out of the rental fleet are included with sales revenue and cost of sales, while retirements of units are presented as a separate operating expense. Maintenance and repairs are charged to cost of rentals as incurred.
Intangible Assets	Intangible Assets We amortize intangible assets with definite lives over their useful lives and review for impairment when indicators of impairment are present. We review indefinite-lived intangible assets for impairment annually or when indicators of impairment are present. We review intangibles through an assessment of the estimated future cash flows related to such assets. In the event that assets are found to be carried at amounts in excess of estimated undiscounted future cash flows, then the assets will be adjusted for impairment to a level commensurate with a discounted cash flow analysis of the underlying assets.
Leases	Leases We determine if an arrangement is a lease at inception by assessing whether it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. GAAP requires all leases to be reported on the balance sheet as right-of-use (“ROU”) assets and lease obligations. We determine if an arrangement is a lease at inception and determine lease classification and recognize ROU assets and liabilities on the lease commencement date based on the present value of lease payments over the lease term. As the discount rate implicit in the lease is rarely readily determinable, we estimate our incremental borrowing rate using information available at the commencement date in determining the present value of the lease payments. We, as a lessee, apply the practical expedient to not separate non-lease components from lease components, therefore, accounting for each separate lease component and its associated non-lease component, as a single lease component. For each lease that (i) contains the same timing and pattern of transfer for lease and non-lease components and (ii) if the lease component, if accounted for separately, would be classified as an operating lease, we have elected to not separate non-lease components from lease components. Right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As substantially all of our leases do not provide an implicit rate, we use our incremental borrowing rate, which is based on a fully collateralized loan over the lease term, to determine the present value of lease payments.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, and net operating losses and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the statutory enactment date. Valuation allowances are established to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. With respect to uncertain tax positions, GAAP prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In order to record any financial statement benefit, we are required to determine, based on technical merits of the position, whether it is more likely than not (a likelihood of more than 50 percent) that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes. If that step is satisfied, then we must measure the tax position to determine the amount of benefit to recognize in the financial statements. The tax position is measured at the largest amount of the benefit that is greater than 50 percent likely of being realized upon ultimate settlement. We had no liabilities for uncertain tax positions as of December 31, 2024 and 2023. Our policy regarding income tax interest and penalties is to charge those items as components of interest expense and other expense, respectively.
Capitalized Interest	Capitalized Interest We capitalize interest from external borrowings on significant expenditures for the assembly of our natural gas compressor equipment until such projects are ready for their intended use. Capitalized interest is added to the cost of the underlying asset and is amortized over the useful lives of the assets in the same manner as the underlying assets.
Fair Value Measurement	Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. GAAP provides for a fair value hierarchy, which requires an entity to maximize the use of observable inputs when measuring fair value. These inputs are categorized as follows: Level 1 - quoted prices in an active market for identical assets or liabilities; Level 2 - quoted prices in an active market for similar assets or liabilities, inputs other than quoted prices that are observable for similar assets or liabilities, inputs derived principally from or corroborated by observable market data by correlation or other means; and Level 3 - valuation methodology with unobservable inputs that are significant to the fair value measurement. We believe that the fair value of our cash and cash equivalents, trade accounts receivables, and accounts payable as of December 31, 2024 and 2023 approximate their carrying values due to the short-term nature of the instruments or the use of prevailing market interest rates. We considered the borrowings under our credit facility to approximate fair value based upon variable interest rates currently available to us for loans with similar terms (level 2).
Segments and Related Information	Segments and Related Information GAAP defines the characteristics of an operating segment as (i) being engaged in business activity from which it may earn revenue and incur expenses, (ii) being reviewed by the Company’s chief operating decision maker (“CODM”) for decisions about resources to be allocated and assess its performance and (iii) having discrete financial information. Although we review our products to analyze the nature of our revenue, costs and expenses, the net income and non-GAAP financial measures including EBITDA and Adjusted gross margin are not captured or analyzed by these categories. Our chief executive officer (“CEO”) serves as the CODM and does not make resource allocation decisions or assess the performance of the business based on these categories, but rather on the entire entity in the aggregate. Accordingly, the measures of profit and loss and total assets are effectively those of the Company as a whole as reflected in these Consolidated Financial Statements. Based on these facts and underlying circumstances described further below, we have concluded that we operate in one business segment. We are primarily engaged in the business of leasing natural gas compressors to our customers. In addition, we design, assemble and sell natural gas compressors and provide aftermarket services on compressors in our fleet and to third parties. These business activities are similar in all geographic areas in which we operate. Our customers primarily consist of entities in the business of producing oil and gas. The maintenance and service of our products is consistent across the entire Company and is performed by a dedicated group of employees via an internal fleet of vehicles. The regulatory environment is similar in every jurisdiction in that the most impacting regulations and practices are the result of federal energy policy.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Pending Adoption	Recently Adopted Accounting Pronouncements In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-09 “Income Taxes (Topics 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”) to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. We elected to early adopt ASU 2023-09 effective with our financial reporting for the year ended December 31, 2024 and have applied the provisions on a retrospective basis for all periods presented in these Consolidated Financial Statements. Accordingly, the enhanced disclosures required of ASU 2023-09 are provided in Note 1 1. In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”) which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. We adopted ASU 2023-07 effective January 1, 2024 and the required disclosures are referenced above in our discussion of Segments and Related Information. Recently Issued Accounting Pronouncements Pending Adoption In November 2024, the FASB issued ASU 2024-03 “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expense” (“ASU 2024-03”) which expands annual and interim disclosures expenses for certain types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented expense captions (such as cost of sales, selling, general & administrative expenses, and research and development). ASU 2024-03 is effective for annual periods beginning January 1, 2027, and for interim periods beginning January 1, 2028, with early adoption permitted. The adoption of ASU 2024-03 is not expected to have a material impact on our Consolidated Financial Statements or disclosures.

Restructuring Activities	12 Months Ended
Restructuring Activities	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring Activities During the years ended December 31, 2023 and 2022, we incurred certain restructuring charges in the form of severance and related compensation benefits in connection with a transition in executive leadership. Accordingly, we incurred $2.3 million in severance and related compensation charges in connection with our former CEO as well as $0.2 million of severance charges attributable to the resignation of the interim CEO during 2022. We incurred an additional $1.2 million of severance and related compensation charges attributable to this transition during 2023. As of December 31, 2023, there were no amounts outstanding with respect to this action. During the year ended December 31, 2024, we incurred an amount less than $0.1 million associated with certain restructuring activities at our assembly facilities for which there were no amounts outstanding as of December 31, 2024.

Stock-Based and Other Long-Term Incentive Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Stock Based Compensation Expense

The following table summarizes the total stock-based compensation expense recognized during the periods presented:


	Year Ended December 31,
	2024		2023		2022
Equity-classified	$	1,821	$	2,054	$	1,910
Liability-classified (1)	248		—		—
	$	2,069	$	2,054	$	1,910

(1) Represents compensation expense associated with awards that may be settled in cash at the option of the grantee.

Schedule of Restricted Stock Activity

The following table summarizes all restricted stock and RSU (fully vested and time-vested) activity during the year ended December 31, 2024:


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
Outstanding, December 31, 2023	133,898	$	10.66	1.57	$	1,813
Granted	97,941	$	18.44		$	1,806
Vested	(74,447)	$	10.46		$	1,636
Canceled/Forfeited	(26,209)	$	11.98		$	214
Outstanding, December 31, 2024	131,183	$	16.39	5.15	$	3,516

The following table summarizes all cash settled RSU activity during the year ended December 31, 2024:


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
Outstanding, December 31, 2023	—	$	—	—	$	—
Granted	15,069	$	19.51		$	294
Vested	—	$	—		$	—
Canceled/Forfeited	—	$	—		$	—
Outstanding, December 31, 2024	15,069	$	19.51	0.50	$	294

Schedule of Stock Options Fair Value Assumptions


Weighted-average grant date fair value of PSUs granted	$	22.47
Risk free rate	4.09% to 4.39%
Expected volatility	43.4% to 44.2%
Expected dividend yield	—		%


	Year Ended December 31,
	2024			2023			2022
Weighted-average grant date fair value of options granted	$	12.25		$	5.11		$	4.24
Risk free rate	4.36		%	3.99		%	2.99		%
Expected life	6.53			6.49			2.67
Expected volatility	48.25		%	47		%	54.5		%
Expected dividend yield	—		%	—		%	—		%

Schedule of Share-Based Payment Arrangement, Performance Shares, Outstanding Activity

The following table summarizes all PSU activity during the year ended December 31, 2024:


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
Outstanding, December 31, 2023	—	$	—	—	$	—
Granted	56,764	$	22.47		$	—
Vested	—	$	—		$	—
Canceled/Forfeited	—	$	—		$	—
Outstanding, December 31, 2024	56,764	$	22.47	2.22	$	—

Schedule of Option Activity

The following table summarizes all option activity during the year ended December 31, 2024:


	Number of Shares Underlying Stock Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
Outstanding, December 31, 2023	129,751	$	20.59	4.10	$	274
Granted	49,000	$	22.73		$	—
Vested	(23,666)	$	12.40		$	286
Canceled/Forfeited	(11,667)	$	21.99		$	11
Expired	(29,667)	$	30.41		$	—
Outstanding, December 31, 2024	113,751	$	20.44	5.84	$	747
Outstanding, Exercisable, December 31, 2024	64,753	$	19.93	3.30	$	469

Schedule of Stock Options Outstanding

The following table summarizes information about our stock options outstanding at December 31, 2024:


Range of Exercise Prices	Options Outstanding				Options Exercisable
	Shares	Weighted Average Remaining Contractual Life (years)	Weighted Average Exercise Price		Shares	Weighted Average Exercise Price
$0.01-$18.00	29,834	7.25	$	10.72	23,168	$	10.67
$18.01-$26.00	66,167	6.19	$	22.76	23,835	$	22.81
$26.01-$30.00	17,750	2.13	$	28.15	17,750	$	28.15
	113,751	5.84	$	20.44	64,753	$	19.93

Schedule of the Status of Unvested Stock Options

The following table summarizes changes in our unvested stock options during the year December 31, 2024:


	Shares	Weighted Average Grant Date Fair Value
Unvested at December 31, 2023	24,335	$	5.45
Granted	49,000	$	12.25
Vested	(17,170)	$	5.57
Canceled/Forfeited	(7,167)	$	11.28
Unvested at December 31, 2024	48,998	$	11.35

Stock-Based and Other Long-Term Incentive Compensation - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) plan shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity plans maintained \| plan	2
Stock based compensation expense	$ 2,069	$ 2,054	$ 1,910
Unrecognized compensation cost related to stock options	$ 300
Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) \| shares	1,150,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense	$ 1,000
Expenses recognized (in years)	2 years 1 month 6 days
Restricted Stock \| Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares) \| shares	262,268
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense	$ 1,000
Expenses recognized (in years)	2 years 2 months 12 days
Performance Shares \| Chief Executive Officer, Chief Operating Officer And Chief Financial Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Performance Shares \| Chief Executive Officer And Chief Operating Officer \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0.00%
Performance Shares \| Chief Executive Officer And Chief Operating Officer \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 200	$ 100	$ 300
Stock Options \| Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Award expiration period	10 years
Stock Options \| Stock Option Plan \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) \| shares	1,000,000
Number of shares available for grant (in shares) \| shares	407,419

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2024	Mar. 14, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-31398
Entity Registrant Name	NATURAL GAS SERVICES GROUP, INC.
Entity Incorporation, State or Country Code	CO
Entity Tax Identification Number	75-2811855
Entity Address, Address Line One	404 Veterans Airpark Lane, Suite 300
Entity Address, City or Town	Midland
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	79705
City Area Code	(432)
Local Phone Number	262-2700
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	NGS
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 139.0
Entity Common Stock, Shares Outstanding		12,506,522
Documents Incorporated by Reference	Documents Incorporated by Reference Certain information called for in Items 10, 11, 12, 13 and 14 of Part III are incorporated by reference to the Registrant’s definitive proxy statement for the annual meeting of shareholders expected to be held on June 5, 2025.
Entity Central Index Key	0001084991
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended		23 Months Ended
	Dec. 31, 2024	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2023
Equity [Abstract]
Preferred stock, shares authorized (in shares)	5,000,000			5,000,000
Preferred stock, shares issued (in shares)	0			0
Preferred stock, shares outstanding (in shares)	0			0
Common stock, shares authorized (in shares)	30,000,000			30,000,000
Common stock, par value (in dollars per share)	$ 0.01			$ 0.01
Common stock, shares issued (in shares)	13,762,000			13,688,000
Common stock, shares outstanding (in shares)	12,500,000			12,400,000
Treasury shares (in shares)			1,300,000
Treasury stock, common, value	$ 0	$ 6,660	$ 15,000
Shares acquired, average cost per share (in dollars per share)			$ 11.45

Rental Equipment

12 Months Ended

Dec. 31, 2024

Rental Equipment

The following table summarizes our rental equipment and accumulated depreciation as of the dates presented:


	December 31,
	2024		2023
Compressor units	$	579,373	$	514,527
Work-in-progress	51,662		50,867
	631,035		565,394
Accumulated depreciation	(216,014)		(191,745)
Rental equipment, net of accumulated depreciation	$	415,021	$	373,649

We capitalized interest totaling approximately $4.7 million and $5.5 million in connection with the acquisition and assembly of compressor units for the years ended December 31, 2024 and 2023, respectively. No interest was capitalized during 2022. Depreciation expense for rental equipment was $28.2 million, $24.0 million and $21.9 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Retirement of Rental Equipment

We routinely review our rental fleet for retirement or obsolescence as well as an assessment to determine which units are not of the type, configuration, make or model that our customers are demanding or that are not cost efficient to refurbish, maintain and/or operate. As a result of these reviews, we recorded charges for the retirement of rental equipment of less than $0.1 million, $0.5 million and $0.2 million during the years ended December 31, 2024, 2023 and 2022, respectively.

Rental Activity

Future minimum rent payments from our customers for contractual arrangements not on a month-to-month basis at December 31, 2024, are as follows:


Year Ending December 31,
2025	$	105,603
2026	83,878
2027	66,751
2028	35,423
2029	10,584

Total	$	302,239

Stock-Based and Other Long-Term Incentive Compensation - Stock Options by Exercise Price Range (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding, shares (in shares) \| shares	113,751
Options outstanding, weighted average remaining contractual life (years)	5 years 10 months 2 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 20.44
Options exercisable, shares (in shares) \| shares	64,753
Options exercisable, weighted average exercise price (in dollars per share)	$ 19.93
$0.01-$18.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices, lower limit (in dollars per share)	0.01
Range of exercise prices, upper limit (in dollars per share)	$ 18
Options outstanding, shares (in shares) \| shares	29,834
Options outstanding, weighted average remaining contractual life (years)	7 years 3 months
Options outstanding, weighted average exercise price (in dollars per share)	$ 10.72
Options exercisable, shares (in shares) \| shares	23,168
Options exercisable, weighted average exercise price (in dollars per share)	$ 10.67
$18.01-$26.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices, lower limit (in dollars per share)	18.01
Range of exercise prices, upper limit (in dollars per share)	$ 26
Options outstanding, shares (in shares) \| shares	66,167
Options outstanding, weighted average remaining contractual life (years)	6 years 2 months 8 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 22.76
Options exercisable, shares (in shares) \| shares	23,835
Options exercisable, weighted average exercise price (in dollars per share)	$ 22.81
$26.01-$30.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices, lower limit (in dollars per share)	26.01
Range of exercise prices, upper limit (in dollars per share)	$ 30
Options outstanding, shares (in shares) \| shares	17,750
Options outstanding, weighted average remaining contractual life (years)	2 years 1 month 17 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 28.15
Options exercisable, shares (in shares) \| shares	17,750
Options exercisable, weighted average exercise price (in dollars per share)	$ 28.15

Rental Equipment - Future Minimum Rent Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 105,603
2026	83,878
2027	66,751
2028	35,423
2029	10,584
Total	$ 302,239

Leases - Cash Flow Impact (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 712	$ 485	$ 384
Finance lease cost	622	95	3
Short-term lease cost	100	300	200
Operating lease, cost	$ 600	$ 200	$ 200

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Name	Ham, Langston & Brezina, LLP
Auditor Location	Houston, Texas
Auditor Firm ID	298

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Revenues	$ 156,742	$ 121,167	$ 84,825
Accounts receivable	15,626	39,186
Payments to related parties	$ (11,659)	$ (3,837)	$ (472)
N-G, LLC
Related Party Transaction [Line Items]
Percent ownership	14.00%	14.00%	14.00%
Corporate Joint Venture
Related Party Transaction [Line Items]
Revenues	$ 700	$ 900	$ 600
Accounts receivable	100	200
Shareholder
Related Party Transaction [Line Items]
Payments to related parties	$ 100	$ 300	$ 0

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions During the years ended December 31, 2024, 2023 and 2022 we sold $0.7 million, $0.9 million, and $0.6 million, respectively, of compressor components to N-G Joint Venture, LLC (“N-G”) our 14% joint venture. As of December 31, 2024 and 2023, we had accounts receivable of $0.1 million and $0.2 million with N-G, respectively. During the years ended December 31, 2024 and 2023, we paid less than $0.1 million and $0.3 million, respectively, to Mill Road Capital, a large shareholder, for expense reimbursements primarily related to our cooperation agreement. No amounts were paid during 2022.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.6-07(2)(e))
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Balance Sheet Disclosures

12 Months Ended

Dec. 31, 2024

Supplemental Balance Sheet Disclosures

The following table summarizes the components of accrued liabilities as of the dates presented:


	December 31
	2024		2023
Accrued purchases	$	2,085	$	8,629
Compensation	3,483		2,274
Right of use obligations	153		365
Interest	269		2,665
Deferred revenue	—		418
Sales taxes	355		313
Other	1,343		421
	$	7,688	$	15,085

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Stockholders’ Equity:
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	13,762,000	13,688,000
Treasury shares (in shares)	1,310,000	1,310,000

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)
Revenue from External Customer [Line Items]
Cash equivalents, qualification, maximum original maturity of short-term investments	3 months
Uncertain tax positions \| $	$ 0	$ 0
Number of business segments \| segment	1
Minimum
Revenue from External Customer [Line Items]
Property and equipment, estimated useful life	3 years
Minimum \| Rental Equipment
Revenue from External Customer [Line Items]
Property and equipment, estimated useful life	15 years
Maximum
Revenue from External Customer [Line Items]
Property and equipment, estimated useful life	39 years
Maximum \| Rental Equipment
Revenue from External Customer [Line Items]
Property and equipment, estimated useful life	25 years
Rental Contracts, Excluding Large Horsepower Compressors \| Minimum
Revenue from External Customer [Line Items]
Rental contract term	6 months
Rental Contracts, Large Horsepower Compressors \| Maximum
Revenue from External Customer [Line Items]
Rental contract term	60 months

Supplemental Balance Sheet Disclosures (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accrued Liabilities

The following table summarizes the components of accrued liabilities as of the dates presented:


	December 31
	2024		2023
Accrued purchases	$	2,085	$	8,629
Compensation	3,483		2,274
Right of use obligations	153		365
Interest	269		2,665
Deferred revenue	—		418
Sales taxes	355		313
Other	1,343		421
	$	7,688	$	15,085

Income Taxes - Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current income tax expense:
Federal	$ (88)	$ 0	$ 0
State	(114)	(35)	(17)
Total current income tax expense	(202)	(35)	(17)
Deferred income tax (expense) benefit:
Federal	(4,456)	(1,940)	(857)
State	219	102	346
Total deferred income tax (expense) benefit	(4,237)	(1,838)	(511)
Provision for income taxes	$ (4,439)	$ (1,873)	$ (528)

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Earnings (Loss) per Share

Subsequent Events (Details)	Jan. 28, 2025 employee
Subsequent Event
Subsequent Event [Line Items]
Number of expected employees terminated	13

Earnings (Loss) per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

The following table reconciles the numerators and denominators of the basic and diluted earnings (loss) per share computation for the periods presented:


	Year Ended December 31,
	2024		2023		2022
Numerator for basic and diluted earnings (loss) per share:
Net income (loss)	$	17,227	$	4,747	$	(569)
Denominator for basic earnings (loss) per common share:
Weighted average common shares outstanding - Basic	12,412		12,316		12,305
Denominator for diluted earnings (loss) per share:
Weighted average common shares outstanding	12,412		12,316		12,305
Dilutive effect of stock-based compensation awards	142		67		—
Weighted average common shares outstanding - Diluted	12,554		12,383		12,305
Earnings (loss) per share:
Basic	$	1.39	$	0.39	$	(0.05)
Diluted	$	1.37	$	0.38	$	(0.05)

During the year ended December 31, 2024, 13,345 shares of restricted stock and RSUs and 83,917 stock options were not included in the computation of diluted earnings per share due to their antidilutive effect. During the year ended December 31, 2023, 10,984 shares of restricted stock and RSUs and 129,751 stock options were not included in the computation of diluted loss per share due to their antidilutive effect. During the year ended December 31, 2022, 250,847 shares of restricted stock and RSUs and 201,584 stock options were not included in the computation of diluted earnings per share due to their antidilutive effect.

Stock-Based and Other Long-Term Incentive Compensation - Summary of Unvested Stock Options (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Shares
Unvested, beginning of period (in shares) \| shares	24,335
Granted (in shares) \| shares	49,000
Vested (in shares) \| shares	(17,170)
Canceled/Forfeited (in shares) \| shares	(7,167)
Unvested, end of period (in shares) \| shares	48,998
Weighted Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share) \| $ / shares	$ 5.45
Granted (in dollars per share) \| $ / shares	12.25
Vested (in dollars per share) \| $ / shares	5.57
Canceled/Forfeited (in dollars per share) \| $ / shares	11.28
Unvested, end of period (in dollars per share) \| $ / shares	$ 11.35

Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

In connection with our acquisition of Screw Compression Systems (“SCS”) in January 2005, we acquired certain intangible assets attributable to developed technology and the SCS trade name. Amortization expense attributable to the developed technology recognized in each of the years ending December 31, 2024, 2023 and 2022 was $0.1 million and the asset is fully amortized as of December 31, 2024. During 2024, we fully impaired the trade name intangible asset as we are no longer marketing the associated technology. There were no impairments of these intangible assets during the years ended December 31, 2023 or 2022.

The following table summarizes our intangible assets by major asset class as of the dates presented:


		December 31, 2024						December 31, 2023
	Useful Life (years)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Gross Carrying Value		Accumulated Amortization		Net Book Value
Developed technology	20	$	—	$	—	$	—	$	2,505	$	2,384	$	121
Trade name	Indefinite	—		—		—		654		—		654
Total		$	—	$	—	$	—	$	3,159	$	2,384	$	775

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2021		0
Beginning balance at Dec. 31, 2021	$ 235,910	$ 0	$ 134	$ 114,017	$ 130,103	$ (8,344)
Beginning balance (in shares) at Dec. 31, 2021			13,394,000
Beginning balance (in shares) at Dec. 31, 2021						775,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,910		$ 1	1,909
Vesting of restricted stock (in shares)			125,000
Vesting of restricted stock	0
Taxes paid related to net shares settlement of equity awards	(515)			(515)
Purchase of treasury shares (in shares)						535,000
Purchase of treasury shares	(6,660)					$ (6,660)
Net income (loss)	(569)				(569)
Ending balance (in shares) at Dec. 31, 2022		0
Ending balance at Dec. 31, 2022	230,076	$ 0	$ 135	115,411	129,534	$ (15,004)
Ending balance (in shares) at Dec. 31, 2022			13,519,000
Ending balance (in shares) at Dec. 31, 2022						1,310,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,054		$ 2	2,052
Vesting of restricted stock (in shares)			169,000
Vesting of restricted stock	0
Taxes paid related to net shares settlement of equity awards	(983)			(983)
Net income (loss)	$ 4,747				4,747
Ending balance (in shares) at Dec. 31, 2023	0	0
Ending balance at Dec. 31, 2023	$ 235,894	$ 0	$ 137	116,480	134,281	$ (15,004)
Ending balance (in shares) at Dec. 31, 2023	13,688,000		13,688,000
Ending balance (in shares) at Dec. 31, 2023	1,310,000					1,310,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 1,821		$ 0	1,821
Vesting of restricted stock (in shares)			51,000
Vesting of restricted stock	0		$ 1	(1)
Exercise of common stock options (in shares)			23,000
Exercise of common stock options	293			293
Taxes paid related to net shares settlement of equity awards	(178)			(178)
Purchase of treasury shares	0
Net income (loss)	$ 17,227				17,227
Ending balance (in shares) at Dec. 31, 2024	0	0
Ending balance at Dec. 31, 2024	$ 255,057	$ 0	$ 138	$ 118,415	$ 151,508	$ (15,004)
Ending balance (in shares) at Dec. 31, 2024	13,762,000		13,762,000
Ending balance (in shares) at Dec. 31, 2024	1,310,000					1,310,000

Deferred Compensation Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Compensation Related Costs [Abstract]
Participant's maximum compensation deferral percentage	90.00%
Company owned life insurance	$ 3,000	$ 3,000
Gain (loss) on company owned life insurance	156	(235)	$ (389)
Deferred compensation obligation	$ 3,800	$ 3,600
Deferred restricted stock shares (in shares)	0	0
Deferred compensation arrangement with individual, shares issued (in shares)	191,700	191,700
Deferred compensation arrangement, fair value of shares issued	$ 4,800	$ 2,700

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock As of December 31, 2024 and 2023, we had a total of 5.0 million authorized preferred shares which may be issued in series with rights and preferences as designated by the Board of Directors. As of December 31, 2024 and 2023, there were no issued or outstanding preferred shares. Common Stock As of December 31, 2024 and 2023, we had a total of 30.0 million authorized common shares with a par value of $0.01 per share. As of December 31, 2024 and 2023, there were 13.8 million and 13.7 million shares issued and 12.5 million and 12.4 million shares outstanding, respectively. Additional Paid-In Capital Additional paid-in capital includes the cumulative amounts received in excess of the par value with respect to the public offerings of our common stock and the issuance of shares in connection with our stock-based compensation plans. In addition, additional paid-in capital is increased by the periodic cost of equity-classified stock-based compensation awards, net of any forfeitures and the cost of shares used to settle income tax obligations upon vesting. Retained Earnings and Comprehensive Income We have not paid any cash dividends on our common stock. While not explicitly prohibited, cash dividends are considered restricted payments as defined in the Credit Facility and may be made provided that certain conditions are satisfied as provided for in the Credit Facility, including the absence of any defaults, among others. Our comprehensive income is comprised only of our net income (loss) as there are no components that would be considered as other comprehensive income. Treasury Stock From October 23, 2020 through its expiration on September 30, 2022, we maintained an authorized share repurchase program. During that period, we repurchased a total of 1.3 million shares of common stock for a total of $15.0 million, or an average of approximately $11.45 per share. The reacquired shares have been recorded at cost and are reflected in Treasury stock on our Consolidated Balance Sheets.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 28, 2025, we announced our intent to close our repair and overhaul facility in Midland, Texas and cease operations by April 1, 2025. In addition, we have initiated efforts to market the facility and the underlying real property. We anticipate terminating approximately 13 employees that work at this facility and will be offering customary termination and severance benefits.We have evaluated all events subsequent to the balance sheet date as of December 31, 2024 and through the date this report was issued and determined that, other than the action noted above, there have been no other events that would require adjustments or additional disclosure to our Consolidated Financial Statements.

Long-Term Debt - Narrative (Details) $ in Thousands	3 Months Ended						12 Months Ended
Long-Term Debt - Narrative (Details) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Credit facility							$ 170,000	$ 164,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt term							5 years
Borrowing base amount available							$ 300,000
Potential increase in borrowing capacity							50,000
Potential maximum borrowing capacity							350,000
Credit facility							$ 170,000
Weighted average interest rate							8.12%
Remaining borrowing capacity							$ 130,000
Percentage of eligible non investment grade decors							85.00%
Percentage of eligible inventory							50.00%
Line of credit facility, non exceeding cap of components							$ 2,500
Percentage of eligible compressors for extension of credit							95.00%
Term for depreciation							25 years
Percentage of net liquidation value of eligible compressors for extension of credit							80.00%
Percentage of eligible value at cost							80.00%
Commitment fee percentage							0.50%
Maximum leverage ratio allowed							3.5
Fixed charge coverage ratio							1.25
Revolving Credit Facility \| Forecast
Line of Credit Facility [Line Items]
Maximum leverage ratio allowed	3.25	3.5	3.5	3.5	3.75	3.75
Revolving Credit Facility \| Maximum
Line of Credit Facility [Line Items]
Default trigger, certain defaults of other company indebtedness, amount							$ 1,000
Default trigger, rendering of certain judgments, amount							$ 1,000
Revolving Credit Facility \| Federal Fund Rate
Line of Credit Facility [Line Items]
Variable rate, applicable margin							0.50%
Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Variable rate, applicable margin							1.00%
Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) \| Minimum
Line of Credit Facility [Line Items]
Variable rate, applicable margin							3.00%
Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) \| Maximum
Line of Credit Facility [Line Items]
Variable rate, applicable margin							3.75%
Revolving Credit Facility \| Base Rate Loans \| Minimum
Line of Credit Facility [Line Items]
Variable rate, applicable margin							2.00%
Revolving Credit Facility \| Base Rate Loans \| Maximum
Line of Credit Facility [Line Items]
Variable rate, applicable margin							2.75%

Rental Equipment - Narrative (Details) - USD ($)	12 Months Ended
Rental Equipment - Narrative (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Capitalized interest	$ 4,700,000	$ 5,500,000	$ 0
Retirement of rental equipment (less than)	100,000
Retirement of rental equipment	28,000	505,000	196,000
Rental Equipment
Property, Plant and Equipment [Line Items]
Depreciation	$ 28,200,000	$ 24,000,000	$ 21,900,000

Long-term Debt - Schedule of Outstanding Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Credit facility	$ 170,000	$ 164,000