Mistras (MG) 10-Q 5 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-34481
Entity Registrant Name	Mistras Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3341267
Entity Address, Address Line One	195 Clarksville Road
Entity Address, City or Town	Princeton Junction,
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08550
City Area Code	609
Local Phone Number	716-4000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	MG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		30,301,985
Entity Central Index Key	0001436126
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 16,717	$ 20,488
Accounts receivable, net	120,425	123,657
Inventories	14,763	13,556
Prepaid expenses and other current assets	14,008	10,181
Total current assets	165,913	167,882
Property, plant and equipment, net	78,816	77,561
Intangible assets, net	47,360	49,015
Goodwill	199,956	199,635
Deferred income taxes	326	779
Other assets	38,448	40,032
Total assets	530,819	534,904
Current Liabilities
Accounts payable	13,640	12,532
Accrued expenses and other current liabilities	77,127	77,844
Current portion of long-term debt	7,372	7,425
Current portion of finance lease obligations	4,752	4,201
Income taxes payable	333	1,726
Total current liabilities	103,224	103,728
Long-term debt, net of current portion	181,972	183,826
Obligations under finance leases, net of current portion	11,170	10,045
Deferred income taxes	7,874	6,283
Other long-term liabilities	30,431	32,273
Total liabilities	334,671	336,155
Commitments and contingencies (Note 14)
Equity
Preferred stock, 10,000,000 shares authorized	0	0
Common stock, $0.01 par value, 200,000,000 shares authorized, 30,230,446 and 29,895,487 shares issued and outstanding	302	298
Additional paid-in capital	244,131	243,031
Accumulated deficit	(16,475)	(11,489)
Accumulated other comprehensive loss	(32,117)	(33,390)
Total Mistras Group, Inc. stockholders’ equity	195,841	198,450
Non-controlling interests	307	299
Total equity	196,148	198,749
Total liabilities and equity	$ 530,819	$ 534,904

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	30,230,446	29,895,487
Common stock, shares outstanding (in shares)	30,230,446	29,895,487

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 168,016	$ 161,662
Cost of revenue	116,051	115,758
Depreciation	5,888	6,012
Gross profit	46,077	39,892
Selling, general and administrative expenses	42,823	41,922
Reorganization and other costs	2,076	114
Legal settlement and insurance recoveries, net	0	(841)
Research and engineering	480	551
Depreciation and amortization	2,525	2,795
Acquisition-related expense, net	3	49
Loss from operations	(1,830)	(4,698)
Interest expense	4,068	1,938
Loss before benefit for income taxes	(5,898)	(6,636)
Benefit for income taxes	(920)	(1,283)
Net Loss	(4,978)	(5,353)
Less: net income attributable to noncontrolling interests, net of taxes	8	10
Net Loss attributable to Mistras Group, Inc.	$ (4,986)	$ (5,363)
Loss per common share
Basic (in dollars per share)	$ (0.17)	$ (0.18)
Diluted (in dollars per share)	$ (0.17)	$ (0.18)
Weighted-average common shares outstanding:
Basic (in shares)	30,021	29,634
Diluted (in shares)	30,021	29,634

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Loss	$ (4,978)	$ (5,353)
Other comprehensive loss:
Foreign currency translation adjustments	1,273	555
Comprehensive Loss	(3,705)	(4,798)
Less: net income attributable to noncontrolling interests, net of taxes	8	10
Comprehensive loss attributable to Mistras Group, Inc.	$ (3,713)	$ (4,808)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Equity - USD ($)	Total	Total Mistras Group, Inc. Stockholders’ Equity	Common Stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive loss	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2021			29,546,000
Beginning balance at Dec. 31, 2021	$ 200,912,000	$ 200,683,000	$ 295,000	$ 238,687,000	$ (17,988,000)	$ (20,311,000)	$ 229,000
Increase (Decrease) in Stockholders' Equity
Net Loss	(5,353,000)	(5,363,000)			(5,363,000)		10,000
Other comprehensive income (loss), net of tax	555,000	555,000				555,000
Share-based payments	1,515,000	1,515,000		1,515,000
Net settlements of restricted stock units (in shares)			174,000
Net settlement of restricted stock units	(544,000)	(544,000)	$ 2,000	(546,000)
Ending balance (in shares) at Mar. 31, 2022			29,720,000
Ending balance at Mar. 31, 2022	197,085,000	196,846,000	$ 297,000	239,656,000	(23,351,000)	(19,756,000)	239,000
Beginning balance (in shares) at Dec. 31, 2022			29,895,000
Beginning balance at Dec. 31, 2022	198,749,000	198,450,000	$ 298,000	243,031,000	(11,489,000)	(33,390,000)	299,000
Increase (Decrease) in Stockholders' Equity
Net Loss	(4,978,000)	(4,986,000)			(4,986,000)		8,000
Other comprehensive income (loss), net of tax	1,273,000	1,273,000				1,273,000
Share-based payments	1,877,000	1,877,000		1,877,000
Net settlements of restricted stock units (in shares)			335,000
Net settlement of restricted stock units	(773,000)	(773,000)	$ 4,000	(777,000)
Ending balance (in shares) at Mar. 31, 2023			30,230,000
Ending balance at Mar. 31, 2023	$ 196,148,000	$ 195,841,000	$ 302,000	$ 244,131,000	$ (16,475,000)	$ (32,117,000)	$ 307,000

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net loss	$ (4,978)	$ (5,353)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and amortization	8,413	8,807
Deferred income taxes	1,801	196
Share-based compensation expense	1,877	1,515
Bad debt provision for troubled customers, net of recoveries	(30)	0
Fair value adjustments to contingent consideration	0	45
Foreign currency loss	219	686
Other	(315)	86
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions
Accounts receivable	3,777	(17,831)
Inventories	(1,137)	(96)
Prepaid expenses and other assets	(4,234)	3,421
Accounts payable	992	(440)
Accrued expenses and other liabilities	(766)	3,605
Income taxes payable	(248)	493
Payment of contingent consideration liability in excess of acquisition-date fair value	(938)	(533)
Net cash provided by (used in) operating activities	4,433	(5,399)
Cash flows from investing activities
Purchase of property, plant and equipment	(4,332)	(3,061)
Purchase of intangible assets	(361)	(151)
Proceeds from sale of equipment	233	475
Net cash used in investing activities	(4,460)	(2,737)
Cash flows from financing activities
Repayment of finance lease obligations	(1,174)	(1,076)
Repayment of long-term debt	(1,904)	(4,152)
Proceeds from revolver	27,000	26,000
Repayment of revolver	(27,100)	(15,500)
Payment of contingent consideration for business acquisitions	0	(405)
Taxes paid related to net share settlement of share-based awards	(773)	(544)
Net cash provided by (used in) financing activities	(3,951)	4,323
Effect of exchange rate changes on cash and cash equivalents	207	(376)
Net change in cash and cash equivalents	(3,771)	(4,189)
Cash and cash equivalents at beginning of period	20,488	24,110
Cash and cash equivalents at end of period	16,717	19,921
Supplemental disclosure of cash paid (received)
Interest, net	5,112	1,711
Income taxes, net of refunds	1,949	(4,661)
Noncash investing and financing
Equipment acquired through finance lease obligations	$ 2,800	$ 848

Description of Business_and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business Mistras Group, Inc. and subsidiaries (the Company) is a leading “one source” multinational provider of integrated technology-enabled asset protection solutions helping to maximize the safety and operational uptime for civilization's most critical industrial and civil assets. Backed by an innovative, data-driven asset protection portfolio, proprietary technologies, and decades-long legacy of industry leadership, the Company helps clients with asset-intensive infrastructure in the oil and gas, aerospace and defense, industrials, power generation and transmission (including alternative and renewable energy), other process industries and infrastructure, research and engineering and other industries towards achieving and maintaining operational excellence. By supporting these organizations that help fuel our vehicles and power our society; inspecting components that are trusted for commercial, defense, and space craft; and building real-time monitoring systems to help avoid catastrophic incidents, the Company helps the world at large. The Company enhances value for its clients by integrating asset protection throughout supply chains and centralizing integrity data through a suite of Industrial Internet of Things ("IoT")-connected digital software and monitoring solutions, including OneSuite™, which serves as an ecosystem platform, pulling together all of the Company’s software and data services capabilities, for the benefit of its customers. The Company’s core capabilities also include non-destructive testing (“NDT”) field inspections enhanced by advanced robotics, laboratory quality control and assurance testing, sensing technologies and NDT equipment, asset and mechanical integrity engineering services, and light mechanical maintenance and access services. The Company has three operating segments. During the first quarter of 2023, the Company renamed the Services segment to more closely align to the geographical area in which the Segment operates. We did not recast the corresponding financial information for the historical periods presented, as there was no change in the manner which our chief operating decision maker reviews the financial results of each Segment and allocates resources. Our Segments, with the updated naming convention, are as follows: • North America (Referred to as "Services" in prior filings). This segment provides asset protection solutions predominantly in North America, with the largest concentration in the United States, followed by Canada, consisting primarily of NDT, inspection, mechanical and engineering services that are used to evaluate the safety, structural integrity and reliability of critical energy, industrial and public infrastructure and commercial aerospace components. Software, digital and data services are included in this segment. • International. This segment offers services, products and systems similar to those of the other segments to select markets within Europe, the Middle East, Africa, Asia and South America, but not to customers in China and South Korea, which are served by the Products and Systems segment. • Products and Systems. This segment designs, manufactures, sells, installs and services the Company’s asset protection products and systems, including equipment and instrumentation, predominantly in the United States. Recent Developments Overall, the Company has taken actions to help ensure the health and safety of Company employees and those of its customers and suppliers; maintain business continuity and financial strength and stability; and serve customers as they provide essential products and services to the world. During 2022, the Company experienced unfavorable foreign currency exchange impacts as it relates to the Company's European operations, which has continued in 2023. Additionally, the Russian-Ukrainian war continues to create disruptions in the oil and gas market and the supply chain in general, which is resulting in some disruption to our business operations. The Company’s European operations are currently experiencing increased costs associated with higher energy costs, among others, due in part to the Russian-Ukrainian war. In 2022, the Company eliminated substantially all of the COVID related cost reduction initiatives undertaken in 2020, including re-installment of the savings plan employer match and increasing wages back to pre-pandemic amounts. The Company is currently unable to predict with certainty the overall impact that the factors discussed above and the effect of inflationary pressures may have on its business, results of operations or liquidity or in other ways which the Company cannot yet determine. The Company will continue to monitor market conditions and respond accordingly. Basis of Presentation The Unaudited Condensed Consolidated Financial Statements contained in this report have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") and Securities and Exchange Commission ("SEC") guidance allowing for reduced disclosure for interim periods. In the opinion of management, the Unaudited Condensed Consolidated Financial Statements include all adjustments, which are of a normal recurring nature, necessary for a fair presentation of the results for the interim periods of the years ending December 31, 2023 and December 31, 2022. Certain items included in these statements are based on management’s estimates. Actual results may differ from those estimates. The results of operations for any interim period are not necessarily indicative of the results expected for the year. The accompanying Unaudited Condensed Consolidated Financial Statements should be read in conjunction with the notes to the Audited Consolidated Financial Statements contained in the Company's 2022 Annual Report on Form 10-K ("2022 Annual Report"). Principles of Consolidation The accompanying Unaudited Condensed Consolidated Financial Statements include the accounts of Mistras Group, Inc. as well as its wholly-owned subsidiaries, majority-owned subsidiaries and consolidated variable interest entities (VIE). For subsidiaries in which the Company’s ownership interest is less than 100%, the non-controlling interests are reported in stockholders’ equity in the accompanying Condensed Consolidated Balance Sheets. The non-controlling interests in net results, net of tax, is classified separately in the accompanying Unaudited Condensed Consolidated Statements of Loss. All significant intercompany accounts and transactions have been eliminated in consolidation. The results of operations of companies acquired are included from the date of acquisition. Reclassification Certain amounts in prior periods have been reclassified to conform to the current year presentation. Such reclassifications did not have a material effect on the Company's financial condition or results of operations as previously reported. Significant Accounting Policies The Company’s significant accounting policies are disclosed in Note 1– Summary of Significant Accounting Policies and Practices in the 2022 Annual Report. On an ongoing basis, the Company evaluates its estimates and assumptions, including among other things, those related to revenue recognition, long-lived assets, goodwill and acquisitions. Since the date of the 2022 Annual Report, there have been no material changes to the Company's significant accounting policies. Income Taxes As of March 31, 2023, management concluded that it is more likely than not that a substantial portion of the Company's deferred tax assets will be realized. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company’s effective income tax rate was approximately 15.6% and 19.3% for the three months ended March 31, 2023 and 2022, respectively. The effective income tax rate benefit for the three months ended March 31, 2023 was lower than the statutory rate primarily due to the impact of an unfavorable discrete item related to stock compensation. Recent Accounting Pronouncements In March 2020 and updated in January 2021, the FASB issued Accounting Standards Update ("ASU") 2020-04 and 2021-01, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The amendments provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The guidance provides optional expedients and exceptions for applying U.S. GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another rate that is expected to be discontinued. The amendments in ASU 2020-04 are effective for all entities as of March 12, 2020 through December 31, 2024. The Company is currently evaluating applicable contracts and the available expedients provided by the new guidance.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company derives the majority of its revenue by providing services on a time and material basis, and are short-term in nature. The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers . Performance Obligations The Company provides highly integrated and bundled inspection services to its customers. The majority of the Company's contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and is, therefore, not distinct. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using the Company's best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is a relative selling price based on price lists. Contract modifications are not routine in the performance of the Company's contracts. Generally, when contracts are modified, the modification is to account for changes in scope to the goods and services that are provided. In most instances, contract modifications are for goods or services that are distinct, and, therefore, are accounted for as a separate contract. The Company's performance obligations are satisfied over time as work progresses or at a point in time. The majority of the Company's revenue is recognized over time as work progresses for the Company's service deliverables, which includes providing testing, inspection and mechanical services to our customers. Revenue is recognized over time based on time and material incurred to date which best portrays the transfer of control to the customer. The Company also utilizes an available practical expedient that provides for revenue to be recognized in an amount that corresponds directly with the value to the customer of the entity’s performance completed to date. Fixed fee arrangements are determined based on expected labor, material, and overhead to be consumed on fulfillment of such services. For these arrangements, revenue is recognized on a cost-to-cost method tracked on an input basis. The majority of our revenue recognized at a point in time is related to product sales when the customer obtains control of the asset, which is generally upon shipment to the customer. Contract costs include labor, material and overhead. The Company expects any significant remaining performance obligations to be satisfied within one year. Contract Estimates The majority of the Company's revenues are short-term in nature. The Company enters into master service agreements (MSAs) with customers that specify an overall framework and contract terms. The actual contracting to provide services or furnish products are triggered by a work order, purchase order, or some similar document issued pursuant to a MSA which sets forth the scope of services and/or identifies the products to be provided. From time-to-time, the Company may enter into longer-term contracts, which can range from several months to several years. Revenue on certain contracts is recognized as work is performed based on total costs incurred to date in relation to the total estimated costs for the performance of the contract at completion. This includes contract estimates of costs to be incurred for the performance of the contract. Cost estimation is based upon the professional knowledge and experience of the Company's project managers, engineers and financial professionals. Factors that are considered in estimating the work to be completed include the availability of materials, the effect of any delays in the Company's project performance and the recoverability of any claims. Whenever revisions of estimates, contract costs and/or contract values indicate that the contract costs will exceed estimated revenues, thus creating a loss, a provision for the total estimated loss is recorded in that period. Revenue by Category The following series of tables present the Company's disaggregated revenue: Revenue by industry was as follows: Three Months Ended March 31, 2023 North America International Products & Systems Corp/Elim Total Oil & Gas $ 89,773 $ 8,855 $ 37 $ — $ 98,665 Aerospace & Defense 13,611 4,980 11 — 18,602 Industrials 9,302 6,053 558 — 15,913 Power generation & Transmission 4,987 1,657 1,326 — 7,970 Other Process Industries 9,109 3,237 27 — 12,373 Infrastructure, Research & Engineering 2,483 2,136 1,142 — 5,761 Petrochemical 5,137 145 — — 5,282 Other 2,530 2,344 638 (2,062) 3,450 Total $ 136,932 $ 29,407 $ 3,739 $ (2,062) $ 168,016 Three Months Ended March 31, 2022 North America International Products & Systems Corp/Elim Total Oil & Gas $ 86,613 $ 7,572 $ 38 $ — $ 94,223 Aerospace & Defense 15,022 4,940 108 — 20,070 Industrials 9,007 5,528 502 — 15,037 Power generation & Transmission 3,822 2,562 845 — 7,229 Other Process Industries 10,293 3,518 1 — 13,812 Infrastructure, Research & Engineering 2,506 2,039 897 — 5,442 Petrochemical 3,045 78 — — 3,123 Other 2,638 1,901 545 (2,358) 2,726 Total $ 132,946 $ 28,138 $ 2,936 $ (2,358) $ 161,662 Revenue per key geographic location was as follows: Three Months Ended March 31, 2023 North America International Products & Systems Corp/Elim Total United States $ 120,600 $ 309 $ 1,801 $ (598) $ 122,112 Other Americas 14,270 3,489 326 (432) 17,653 Europe 1,412 24,183 261 (826) 25,030 Asia-Pacific 650 1,426 1,351 (206) 3,221 Total $ 136,932 $ 29,407 $ 3,739 $ (2,062) $ 168,016 Three Months Ended March 31, 2022 North America International Products & Sytems Corp/Elim Total United States $ 113,935 $ 173 $ 1,351 $ (655) $ 114,804 Other Americas 18,052 1,341 16 (609) 18,800 Europe 744 25,920 580 (924) 26,320 Asia-Pacific 215 704 989 (170) 1,738 Total $ 132,946 $ 28,138 $ 2,936 $ (2,358) $ 161,662 Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on the Consolidated Balance Sheets. Amounts are generally billed as work progresses in accordance with agreed-upon contractual terms, generally at periodic intervals (e.g., weekly, bi-weekly or monthly). Generally, billing occurs subsequent to revenue recognition, resulting in contract assets. However, the Company sometimes receives advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. These assets and liabilities are aggregated on an individual contract basis and reported on the Consolidated Balance Sheets at the end of each reporting period within accounts receivable, net or accrued expenses and other current liabilities.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company has granted share-based incentive awards to its eligible employees and non-employee directors under two equity incentive plans: (i) the 2009 Long-Term Incentive Plan (the "2009 Plan") and (ii) the 2016 Long-Term Incentive Plan (the "2016 Plan"). No awards have been granted under the 2009 Plan since the 2016 Plan was approved by shareholders in 2016, and the remaining stock option award granted under the 2009 Plan expired during the three months ended March 31, 2022. Awards granted under the 2016 Plan may be in the form of stock options, restricted stock units and other forms of share-based incentives, including performance restricted stock units, stock appreciation rights and deferred stock rights. At the annual shareholders meeting on May 23, 2022, the Company’s shareholders approved an amendment to increase the total number of shares that may be issued under the 2016 Plan by 1.2 million, for a total of 4.9 million shares that are authorized for issuance under the 2016 Plan, of which approximately 1,100,000 shares were available for future grants as of March 31, 2023. Stock Options During the three months ended March 31, 2022, all remaining outstanding stock options expired. For each of the three months ended March 31, 2023 and 2022, the Company did not recognize any share-based compensation expense related to the stock option award. Restricted Stock Unit Awards For the three months ended March 31, 2023 and March 31, 2022, the Company recognized share-based compensation expense related to restricted stock unit awards of $0.9 million and $0.9 million, respectively. As of March 31, 2023, there was $10.0 million of unrecognized compensation costs, net of estimated forfeitures, related to restricted stock unit awards, which is expected to be recognized over a remaining weighted-average period of 3.1 years. Upon vesting, restricted stock units are generally net share-settled to cover the required withholding tax and the remaining amount is converted into an equivalent number of shares of common stock. A summary of the vesting activity of restricted stock unit awards, with the respective fair value of the awards, is as follows: Three months ended March 31, 2023 2022 Restricted stock awards vested 338 226 Fair value of awards vested $ 1,946 $ 1,502 A summary of the fully-vested common stock the Company issued to its six non-employee directors, in connection with its non-employee director compensation plan, is as follows: Three months ended March 31, 2023 2022 Awards issued 48 34 Grant date fair value of awards issued $ 275 $ 225 A summary of the Company's outstanding, non-vested restricted share units is as follows: Three months ended March 31, 2023 2022 Units Weighted Units Weighted Outstanding at beginning of period: 1,415 $ 6.66 1,208 $ 7.96 Granted 542 $ 8.50 675 $ 7.65 Released (338) $ 5.76 (226) $ 13.73 Forfeited (22) $ 7.82 (7) $ 10.50 Outstanding at end of period: 1,597 $ 7.44 1,650 $ 7.16 Performance Restricted Stock Units The Company maintains Performance Restricted Stock Units (PRSUs) that have been granted to select executives and senior officers whose ultimate payout is based on the Company’s performance over a one-year period based on specific metrics approved by the Compensation Committee of the Board of Directors of the Company. For 2022, the Compensation Committee utilized the same structure for the Company’s equity incentive compensation plan for its executive officers as 2021, and approved the new target awards for 2022. The three metrics were: 1. Free Cash Flow net cash provided by operating activities less purchases of property, plant, equipment and intangible assets and is subject to adjustments approved by the Compensation Committee. 2. Adjusted EBITDA defined as net income attributable to the Company plus: interest expense, provision for income taxes, depreciation and amortization, share-based compensation expense and certain acquisition related costs (including transaction due diligence costs and adjustments to the fair value of contingent consideration), foreign exchange (gain) loss and, if applicable, certain special items which are noted. 3. Total Shareholder Return (TSR) measures the total return to shareholders of the Company during 2021 versus the total return to the shareholders of a predefined peer group of companies that provide inspection, testing, certification or similar industrial services. The return will be measured by the year over year percent change in share price. The share prices used to calculate the return are the average share price during the 20-trading day period ending on the initial measurement date (the last 20 trading days of 2021), compared to the average share price during the 20-trading day period ending on the final measurement date (the last 20 trading days of 2022). Any cash dividends or distributions paid in 2022 will be added to calculate the return to shareholders during the year. TSR is considered a market condition for which the fair value of PRSUs with this condition is determined using a Monte Carlo valuation model. Key assumptions in the Monte Carlo valuation model included: a. Expected Volatility. Expected volatility of the Company’s common stock at the date of grant was estimated based on a historical average volatility rate for the approximate 1-year performance period. b. Dividend Yield . The dividend yield assumption was based on historical and anticipated dividend payouts (assumed at zero). c. Risk-Free Interest Rate . The risk-free interest rate assumption was based on observed interest rates consistent with the approximate 1-year performance measurement period. For 2023, the Compensation Committee made changes to the Company's equity incentive compensation plan for its executive officers including modifying the metrics utilized, and approved the new target awards for 2023. The three metrics are: 1. Free Cash Flow net cash provided by operating activities less purchases of property, plant, equipment and intangible assets and is subject to adjustments approved by the Compensation Committee. 2. Adjusted EBITDA defined as net income attributable to the Company plus: interest expense, provision for income taxes, depreciation and amortization, share-based compensation expense and certain acquisition related costs (including transaction due diligence costs and adjustments to the fair value of contingent consideration), foreign exchange (gain) loss and, if applicable, certain special items which are noted. 3. Revenue PRSUs are equity-classified and compensation costs are initially measured using the fair value of the underlying stock at the date of grant. Compensation costs related to the PRSUs are subsequently adjusted for changes in the expected outcomes of the performance conditions. Compensation cost related to the PRSUs with a market condition is not reversed if the market condition is not achieved, provided the employee requisite service has been rendered. PRSUs generally vest ratably on each of the first four A summary of the Company's PRSU activity is as follows: Three months ended March 31, 2023 2022 Units Weighted Units Weighted Outstanding at beginning of period: 280 $ 9.96 388 $ 10.07 Granted 282 $ 8.50 341 $ 6.55 Performance condition adjustments (32) $ 6.55 (56) $ 10.47 Released (64) $ 5.58 (17) $ 6.85 Forfeited (84) $ 6.95 — $ — Outstanding at end of period: 382 $ 9.12 656 $ 12.18 During the three months ended March 31, 2023 and March 31, 2022, the Compensation Committee approved the final calculation of the award metrics for calendar year 2022 and 2021, respectively. As a result, the calendar year 2023 PRSUs decreased by approximately 32,000 units as a result of the final calculation of award metrics. For the three months ended March 31, 2023 and March 31, 2022, the Company recognized aggregate share-based compensation expense related to the awards described above of approximately $0.7 million and $0.3 million, respectively. At March 31, 2023, there was $2.8 million of total unrecognized compensation costs related to approximately 382,000 non-vested PRSUs, which is expected to be recognized over a remaining weighted-average period of 2.0 years.

Earnings (loss) per Share

Earnings (loss) per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings (loss) per Share	Earnings (loss) per Share Basic earnings (loss) per share is computed by dividing net loss by the weighted-average number of shares outstanding during the period. Diluted earnings per share is computed by dividing net loss by the sum of (1) the weighted-average number of shares of common stock outstanding during the period, and (2) the dilutive effect of assumed conversion of equity awards using the treasury stock method. With respect to the number of weighted-average shares outstanding (denominator), diluted shares reflects: (i) the exercise of options to acquire common stock to the extent that the options’ exercise prices are less than the average market price of common shares during the period and (ii) the pro forma vesting of restricted stock units. The following table sets forth the computations of basic and diluted loss per share: Three months ended March 31, 2023 2022 Basic loss per share Numerator: Net loss attributable to Mistras Group, Inc. $ (4,986) $ (5,363) Denominator: Weighted average common shares outstanding 30,021 29,634 Basic loss per share $ (0.17) $ (0.18) Diluted loss per share: Numerator: Net loss attributable to Mistras Group, Inc. $ (4,986) $ (5,363) Denominator: Weighted average common shares outstanding 30,021 29,634 Dilutive effect of restricted stock units outstanding (1) — — 30,021 29,634 Diluted loss per share $ (0.17) $ (0.18) _______________ (1) For the three months ended March 31, 2023 and 2022, 1,513,000 and 1,212,000 shares, respectively, related to restricted stock were excluded from the calculation of diluted EPS due to the net loss for the period.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Acquisition-Related Expense In the course of its acquisition activities, the Company incurs costs in connection with due diligence, such as professional fees, and other expenses. Additionally, the Company adjusts the fair value of acquisition-related contingent consideration liabilities on a quarterly basis. These amounts are reported as Acquisition-related expense, net on the Unaudited Condensed Consolidated Statements of Loss and were as follows for the three months ended March 31, 2023 and 2022: Three months ended March 31, 2023 2022 Due diligence, professional fees and other transaction costs $ 3 $ 4 Adjustments to fair value of contingent consideration liabilities — 45 Acquisition-related expense, net $ 3 $ 49 The Company's contingent consideration liabilities are included in Accrued expenses and other current liabilities and Other long-term liabilities on the Condensed Consolidated Balance Sheets.

Accounts Receivable, net

Accounts Receivable, net	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Accounts Receivable, net	Accounts Receivable, net Accounts receivable consisted of the following: March 31, 2023 December 31, 2022 Trade accounts receivable $ 124,066 $ 127,767 Allowance for credit losses (3,641) (4,110) Accounts receivable, net $ 120,425 $ 123,657 The Company had $21.6 million and $13.5 million of unbilled revenue accrued as of March 31, 2023 and December 31, 2022, respectively. These amounts are included in the trade accounts receivable balances above. Unbilled revenue is generally billed in the subsequent quarter to their revenue recognition. The Company considers unbilled receivables as short-term in nature as they are normally converted to trade receivables within 90 days, thus future changes in economic conditions will not have a significant effect on the credit loss estimate. The Company was contracted to perform inspections of welds on various pipeline projects in Texas for a customer. As of December 31, 2019, approximately $1.4 million of past due receivables were outstanding from this customer. The Company received notice from the customer in December 2019, alleging that the work performed was not in compliance with the contract. The Company filed a lawsuit to recover the $1.4 million and other amounts due to the Company and the customer filed a counterclaim, alleging breach of contract and seeking its damages. The Company recorded a full reserve for this receivable during 2019 and the status of this situation has not changed since 2019 through March 31, 2023. See Note 14- Commitments and Contingencies and Note 16 - Subsequent Events for additional details.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following (in thousands): March 31, 2023 December 31, 2022 Raw materials and consumable supplies $ 8,195 $ 7,745 Work in progress and finished goods 6,568 5,811 Inventories $ 14,763 $ 13,556

Property, Plant and Equipment,

Property, Plant and Equipment, net	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment consisted of the following: Useful Life (Years) March 31, 2023 December 31, 2022 Land $ 2,447 $ 2,529 Buildings and improvements 30-40 25,457 24,800 Office furniture and equipment 5-8 18,644 18,057 Machinery and equipment 5-7 257,227 251,282 303,775 296,668 Accumulated depreciation and amortization (224,959) (219,107) Property, plant and equipment, net $ 78,816 $ 77,561 Depreciation expense for the three months ended March 31, 2023 and 2022 was approximately $6.3 million and $6.6 million, respectively.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Changes in the carrying amount of goodwill by segment is shown below: North America International Products and Systems Total Balance at December 31, 2022 $ 185,710 $ 13,925 $ — $ 199,635 Foreign currency translation 80 241 321 Balance at March 31, 2023 $ 185,790 $ 14,166 $ — $ 199,956 The Company reviews goodwill for impairment on a reporting unit basis on October 1 of each year and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. The Company performed a quantitative annual impairment test as of October 1, 2022 and the Company did not identify any changes in circumstances that would indicate the carrying value of goodwill may not be recoverable. Additionally, through March 31, 2023, the Company did not identify any changes in circumstances that would indicate the carrying value of goodwill may not be recoverable. Significant adverse changes in future periods could negatively affect the Company's key assumptions and may result in future goodwill impairment charges which could be material.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	Intangible Assets The gross amount, accumulated amortization and net carrying amount of intangible assets were as follows: March 31, 2023 December 31, 2022 Useful Life Gross Amount Accumulated Amortization Net Carrying Amount Gross Amount Accumulated Amortization Net Carrying Amount Customer relationships 5-18 $ 110,094 $ (85,850) $ 24,244 $ 109,683 $ (84,130) $ 25,553 Software/Technology 3-15 51,570 (29,498) 22,072 51,028 (28,669) 22,359 Covenants not to compete 2-5 12,495 (12,429) 66 12,488 (12,416) 72 Other 2-12 10,406 (9,428) 978 10,389 (9,358) 1,031 Total $ 184,565 $ (137,205) $ 47,360 $ 183,588 $ (134,573) $ 49,015

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: March 31, 2023 December 31, 2022 Accrued salaries, wages and related employee benefits $ 25,855 $ 26,684 Contingent consideration, current portion — 937 Accrued workers’ compensation and health benefits 3,789 3,660 Deferred revenue 9,257 7,521 Pension accrual 2,519 2,519 Right-of-use liability - Operating 10,216 10,376 Other accrued expenses 25,491 26,147 Total $ 77,127 $ 77,844

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following: March 31, 2023 December 31, 2022 Senior credit facility $ 65,150 $ 65,250 Senior secured term loan, net of unamortized debt issuance costs of $0.5 million and $0.5 million, respectively 119,863 121,399 Other 4,331 4,602 Total debt 189,344 191,251 Less: Current portion (7,372) (7,425) Long-term debt, net of current portion $ 181,972 $ 183,826 Senior Credit Facility Prior to entering into the Credit Agreement (defined and described below), the Company had a credit agreement with its banking group (the "Prior Credit Agreement") which provided the Company with a $150 million revolving credit facility and a $100 million term loan. The Prior Credit Agreement was most recently amended on May 19, 2021 and had a maturity date of December 12, 2023. On August 1, 2022, the Company entered into a new credit agreement (the “Credit Agreement”) which replaced the Prior Credit Agreement and provides the Company with a $190 million 5-year committed revolving credit facility and a $125 million term loan with a balance of $120 million as of March 31, 2023. The Credit Agreement permits the Company to borrow up to $100 million in non-US dollar currencies and to use up to $20 million of the credit limit for the issuance of letters of credit. Both the revolving line of credit and the term loan under the Credit Agreement have a maturity date of July 30, 2027. The Credit Agreement has the following key terms, conditions and financial covenants: • Borrowings bear interest at Secured Overnight Financing Rate ("SOFR") plus a credit spread adjustment and applicable SOFR margin ranging from 1.25% to 2.75%, based upon our Total Consolidated Debt Leverage Ratio (defined below); under the Prior Credit Agreement, the margin was based upon the LIBOR margin. ◦ Total Consolidated Debt Leverage Ratio means the ratio of (a) Total Consolidated Debt to (b) EBITDA (as defined in the Credit Agreement) for the trailing four consecutive fiscal quarters. ◦ Total Consolidated Debt means all indebtedness (including subordinated debt) of the Company on a consolidated basis. • The Company has the benefit of the lowest SOFR margin if its Total Consolidated Debt Leverage Ratio is equal to or less than 1.25 to 1.0, and the margin increases as the ratio increases, to the maximum margin if the ratio is greater than 3.75 to 1.0. The Credit Agreement is secured by liens on substantially all the assets of the Company and certain of its U.S subsidiaries and is guaranteed by those U.S subsidiaries. • The Company has to maintain a Total Consolidated Debt Leverage Ratio of no more than 4.0 to 1.0 at the end of each quarter through June 30, 2023 and stepping down to a maximum permitted ratio of no more than 3.75 to 1.0 for the remainder of the term. • The Company has to maintain a Fixed Charge Coverage Ratio of 1.25 to 1.0 for the duration of the New Credit Agreement, as defined in the Credit Agreement. • The Credit Agreement limits the Company’s ability to, among other things, create liens, make investments, incur more indebtedness, merge or consolidate, make dispositions of property, pay dividends, make distributions to stockholders or repurchase our stock, enter into a new line of business, enter into transactions with affiliates and enter into burdensome agreements. • The Credit Agreement does not limit the Company’s ability to acquire other businesses or companies except that the acquired business or company must be in the Company's line of business, the Company must be in compliance with the financial covenants on a pro forma basis after taking into account the acquisition, and the Company must provide written notice at least five • Quarterly payments on the term loan of $1.56 million through June 30, 2024, then increasing to $2.34 million through June 30, 2025, and to $3.12 million for each quarterly payment thereafter through maturity. The Credit Agreement was accounted for as a modification and the Company expensed $0.8 million in unamortized capitalized debt issuance costs and fees during the three months ended September 30, 2022, which was included in selling, general and administrative expenses on the Consolidated Statements of Income (Loss). The Company incurred $1.6 million in financing costs for the Credit Agreement, of which $0.2 million of third party costs were expensed and included in selling, general and administrative expenses on the Consolidated Statements of Income (Loss) during the three months ended September 30, 2022. As of March 31, 2023, the Company had borrowings of $185.0 million and a total of $2.6 million of letters of credit outstanding under the Credit Agreement. The Company has capitalized costs associated with debt modifications of $1.4 million as of March 31, 2023, which is included in Other Assets on the Condensed Consolidated Balance Sheets and will be amortized into interest expense over the remaining term of the Credit Agreement through July 30, 2027. As of March 31, 2023, the Company was in compliance with the terms and covenants of the Credit Agreement. The Company continuously monitors compliance with the covenants contained in the Credit Agreement. Other debt The Company's other debt includes bank financing provided at the local subsidiary level used to support working capital requirements and fund capital expenditures. At March 31, 2023, there was an aggregate of approximately $4.3 million outstanding, payable at various times through 2030. Monthly payments range from $0.7 thousand to $16 thousand and interest rates range from 0.4% to 3.5%.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company performs fair value measurements in accordance with the guidance provided by ASC 820, Fair Value Measurements and Disclosures . ASC 820 defines fair value 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. It also establishes a three level hierarchy that prioritizes the inputs used to measure fair value. Financial instruments measured at fair value on a recurring basis The fair value of contingent consideration liabilities was estimated using a discounted cash flow technique with significant inputs that are not observable in the market and thus represents a Level 3 fair value measurement as defined in ASC 820. The significant inputs in the Level 3 measurement not supported by market activity include the probability assessments of expected future cash flows related to the acquisitions, appropriately discounted considering the uncertainties associated with the obligation, and as calculated in accordance with the terms of the applicable acquisition agreements. The following table represents the changes in the fair value of Level 3 contingent consideration: Three months ended March 31, 2023 2022 Beginning balance $ 938 $ 1,831 Payments (938) (938) Revaluation — 45 Ending balance $ — $ 938 Financial instruments not measured at fair value on a recurring basis The Company has evaluated current market conditions and borrower credit quality and has determined that the carrying value of its long-term debt approximates fair value. The fair value of the Company’s notes payable and finance lease obligations approximates their carrying amounts based on anticipated interest rates which management believes would currently be available to the Company for similar issuances of debt.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings and Government Investigations The Company is periodically involved in lawsuits, investigations and claims that arise in the ordinary course of business. The Company cannot predict with certainty the ultimate resolution of lawsuits, investigations and claims asserted against it. Except for possible losses from the matters described below, the Company does not believe that any currently pending or threatened legal proceeding to which the Company is or is likely to become a party will have a material adverse effect on its business, results of operations, cash flows or financial condition. The costs incurred by the Company to defend lawsuits, investigations and claims and amounts the Company pays to other parties because of these matters may be covered by insurance in some circumstances. Litigation and Commercial Claims The Company was contracted to perform inspections of welds on various pipeline projects in Texas for a customer. As of March 31, 2023, approximately $1.4 million of past due receivables were outstanding from this customer. The customer provided the Company with notice in December 2019, alleging that the Company’s inspection of 66 welds (out of approximately 16,000 welds inspected) were not in compliance with the contract, claimed approximately $7.6 million in damages, and requested that the Company pay these damages and any other damages incurred. The Company filed a lawsuit in the District Court of Bexar County, Texas, 37th Judicial District on December 17, 2019, in an action captioned Mistras Group, Inc. v. Epic Y-Grade Pipeline LP, to recover the $1.4 million and other amounts due to the Company. The customer filed a counterclaim on March 6, 2020, alleging breach of contract and seeking recovery of its alleged damages. The Company believes that any successful claim by the customer regarding the Company’s workmanship will be covered by insurance, subject to payment of a deductible. At this time, the Company is unable to determine whether it has any liability in connection with this matter and if so, the amount or range of any such liability. In the year ended December 31, 2022, the Company recorded a charge of $0.1 million for a potential loss from this matter. The Company recorded a reserve in the amount of $1.4 million during the twelve months ended December 31, 2019 for these past due receivables. See Note 16 - Subsequent Events , for updated information on this matter. Two proceedings have been filed in California Superior Court for the County of Los Angeles regarding alleged violations of the California Labor Code. Both cases are captioned Justin Price v. Mistras Group, Inc., one being a purported class action lawsuit on behalf of current and former Mistras employees in California, filed on June 10, 2020, and the other was filed on September 18, 2020, behalf of the State of California under the California Private Attorney General Act on the basis of the same alleged violations. The two cases was consolidated and requested payment of all damages, including unpaid wages, and various fines and penalties available under California law. On May 4, 2021, the Company agreed to a settlement of all claims in the cases, which was more formally documented pursuant to a settlement agreement completed October 5, 2021, as amended as of May 3, 2022. Pursuant to the settlement, the Company agreed to pay $2.3 million to resolve the allegations in these proceedings and to be responsible for the employer portion of payroll taxes on the amount of the settlement allocated to wages. The settlement as agreed upon by the parties received final court approval on September 26, 2022, and the Company paid the settlement proceeds and related payroll taxes to the claims administrator in the fourth quarter of 2022. The Company recorded expense of approximately $1.6 million during the three months ended March 31, 2021 related to this settlement, which is in addition to expense of $0.8 million the Company recorded during the three months ended December 31, 2020. Pension Related Contingencies Certain of Company’s subsidiaries had significant reductions in their unionized workers in 2018. The collective bargaining agreements for the employees of these subsidiaries required contributions for these employees to two national multi-employer pension funds. The reduction in employees resulted in the subsidiary incurring a complete withdrawal to one of the pension funds under the Employee Retirement Income Security Act of 1974 ("ERISA"), which was fully satisfied in 2019. The Company has determined that the subsidiary is likely to incur partial or complete withdrawal liability to the other pension fund. The balance of the estimated total amount of this potential liability as of March 31, 2023 is approximately $2.5 million, which were incurred in 2018 and 2019. Severance and labor disputes During December 2019, the Company executed an agreement to sell the rights of certain customer "staff leasing" contracts related to its German subsidiary for total consideration of approximately $0.1 million, effective January 1, 2020. No other assets or liabilities other than those employee benefits related to employees working on the customer contracts were included in the sale. As of March 31, 2023, the Company has approximately $0.1 million of accrued estimated severance payment obligations, which takes into account the Company's estimate with respect to the employees that have been or will be transitioned to the German subsidiaries' other customers. The $0.2 million of estimated obligations is net of $0.4 million in payments made and $1.0 million in reversals due to employees being transitioned to customer contracts.

Segment Disclosure

Segment Disclosure	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Disclosure	Segment Disclosure As noted in Note 1 - Description of Business and Basis of Presentation , the Company updated the naming convention of one of our three operating segments and the updates are reflected below. Our three operating segments are: • North America. This segment provides asset protection solutions predominantly in North America, with the largest concentration in the United States, followed by Canada, consisting primarily of NDT, inspection, mechanical and engineering services that are used to evaluate the safety, structural integrity and reliability of critical energy, industrial and public infrastructure and commercial aerospace components. Software, digital and data services are included in this segment. • International. This segment offers services, products and systems similar to those of the other segments to select markets within Europe, the Middle East, Africa, Asia and South America, but not to customers in China and South Korea, which are served by the Products and Systems segment. • Products and Systems. This segment designs, manufactures, sells, installs and services the Company’s asset protection products and systems, including equipment and instrumentation, predominantly in the United States. Costs incurred for general corporate services, including finance, legal, and certain other costs that are provided to the segments are reported within Corporate and eliminations. Sales to the International segment from the Products and Systems segment and subsequent sales by the International segment of the same items are recorded and reflected in the operating performance of both segments. Additionally, engineering charges and royalty fees charged to the North America and International segments by the Products and Systems segment are reflected in the operating performance of each segment. The accounting policies of the reportable segments are the same as those described in Note 1 - Description of Business and Basis of Presentation . Segment income from operations is one of the primary performance measures used by the chief operating decision maker, to assess the performance of each segment and make resource allocation decisions. Certain general and administrative costs such as human resources, information technology and training are allocated to the segments. Segment income from operations excludes interest and other financial charges and income taxes. Corporate and other assets are comprised principally of cash, deposits, property, plant and equipment, domestic deferred taxes, deferred charges and other assets. Corporate loss from operations consists of administrative charges related to corporate personnel and other charges that cannot be readily identified for allocation to a particular segment. Selected consolidated financial information by segment for the periods shown was as follows: (with intercompany transactions eliminated in Corporate and eliminations) Three months ended March 31, 2023 2022 Revenue North America $ 136,932 $ 132,946 International 29,407 28,138 Products and Systems 3,739 2,936 Corporate and eliminations (2,062) (2,358) $ 168,016 $ 161,662 Three months ended March 31, 2023 2022 Gross profit North America $ 36,637 $ 30,526 International 7,367 8,190 Products and Systems 2,063 1,168 Corporate and eliminations 10 8 $ 46,077 $ 39,892 Income (loss) from operations by operating segment includes intercompany transactions, which are eliminated in Corporate and eliminations. Three months ended March 31, 2023 2022 Income (loss) from operations North America $ 9,378 $ 3,761 International (568) 284 Products and Systems 384 (582) Corporate and eliminations (11,024) (8,161) $ (1,830) $ (4,698) Three months ended March 31, 2023 2022 Depreciation and amortization North America $ 6,357 $ 6,593 International 1,859 2,058 Products and Systems 256 218 Corporate and eliminations (59) (62) $ 8,413 $ 8,807 March 31, 2023 December 31, 2022 Intangible assets, net North America $ 41,746 $ 43,260 International 4,117 4,422 Products and Systems 1,295 1,208 Corporate and eliminations 202 125 $ 47,360 $ 49,015 March 31, 2023 December 31, 2022 Total assets North America $ 394,280 $ 407,779 International 104,782 104,531 Products and Systems 13,415 12,408 Corporate and eliminations 18,342 10,186 $ 530,819 $ 534,904 Refer to Note 2 – Revenue , for revenue by geographic area for the three months ended March 31, 2023 and 2022.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 25, 2023, the Company settled the outstanding litigation described in Note 14- Commitments and Contingencies, Mistras Group, Inc. v. Epic Y-Grade Pipeline LP, pending in Texas state court. The lawsuit involves a claim against a customer for unpaid receivables and the customer’s counterclaim related to inspection of welds on various pipeline projects in Texas. The settlement will result in a payment by the Company of $0.3 million (which the Company estimates is significantly less than the cost of going to trial) and a release of its claim for $1.4 million of associated past due receivables which were fully reserved for in prior periods. The settlement is contingent on the parties executing a settlement agreement, which will include a release of all claims related to the matter and dismissal of the case with prejudice.

Description of Business_and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Unaudited Condensed Consolidated Financial Statements contained in this report have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") and Securities and Exchange Commission ("SEC") guidance allowing for reduced disclosure for interim periods. In the opinion of management, the Unaudited Condensed Consolidated Financial Statements include all adjustments, which are of a normal recurring nature, necessary for a fair presentation of the results for the interim periods of the years ending December 31, 2023 and December 31, 2022. Certain items included in these statements are based on management’s estimates. Actual results may differ from those estimates. The results of operations for any interim period are not necessarily indicative of the results expected for the year. The accompanying Unaudited Condensed Consolidated Financial Statements should be read in conjunction with the notes to the Audited Consolidated Financial Statements contained in the Company's 2022 Annual Report on Form 10-K ("2022 Annual Report").
Principles of Consolidation	Principles of Consolidation The accompanying Unaudited Condensed Consolidated Financial Statements include the accounts of Mistras Group, Inc. as well as its wholly-owned subsidiaries, majority-owned subsidiaries and consolidated variable interest entities (VIE). For subsidiaries in which the Company’s ownership interest is less than 100%, the non-controlling interests are reported in stockholders’ equity in the accompanying Condensed Consolidated Balance Sheets. The non-controlling interests in net results, net of tax, is classified separately in the accompanying Unaudited Condensed Consolidated Statements of Loss. All significant intercompany accounts and transactions have been eliminated in consolidation. The results of operations of companies acquired are included from the date of acquisition.
Reclassification	Reclassification Certain amounts in prior periods have been reclassified to conform to the current year presentation. Such reclassifications did not have a material effect on the Company's financial condition or results of operations as previously reported.
Income Taxes	Income Taxes As of March 31, 2023, management concluded that it is more likely than not that a substantial portion of the Company's deferred tax assets will be realized. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020 and updated in January 2021, the FASB issued Accounting Standards Update ("ASU") 2020-04 and 2021-01, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The amendments provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The guidance provides optional expedients and exceptions for applying U.S. GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another rate that is expected to be discontinued. The amendments in ASU 2020-04 are effective for all entities as of March 12, 2020 through December 31, 2024. The Company is currently evaluating applicable contracts and the available expedients provided by the new guidance.
Revenue	Revenue The Company derives the majority of its revenue by providing services on a time and material basis, and are short-term in nature. The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers . Performance Obligations The Company provides highly integrated and bundled inspection services to its customers. The majority of the Company's contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and is, therefore, not distinct. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using the Company's best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is a relative selling price based on price lists. Contract modifications are not routine in the performance of the Company's contracts. Generally, when contracts are modified, the modification is to account for changes in scope to the goods and services that are provided. In most instances, contract modifications are for goods or services that are distinct, and, therefore, are accounted for as a separate contract. The Company's performance obligations are satisfied over time as work progresses or at a point in time. The majority of the Company's revenue is recognized over time as work progresses for the Company's service deliverables, which includes providing testing, inspection and mechanical services to our customers. Revenue is recognized over time based on time and material incurred to date which best portrays the transfer of control to the customer. The Company also utilizes an available practical expedient that provides for revenue to be recognized in an amount that corresponds directly with the value to the customer of the entity’s performance completed to date. Fixed fee arrangements are determined based on expected labor, material, and overhead to be consumed on fulfillment of such services. For these arrangements, revenue is recognized on a cost-to-cost method tracked on an input basis. The majority of our revenue recognized at a point in time is related to product sales when the customer obtains control of the asset, which is generally upon shipment to the customer. Contract costs include labor, material and overhead. The Company expects any significant remaining performance obligations to be satisfied within one year. Contract Estimates The majority of the Company's revenues are short-term in nature. The Company enters into master service agreements (MSAs) with customers that specify an overall framework and contract terms. The actual contracting to provide services or furnish products are triggered by a work order, purchase order, or some similar document issued pursuant to a MSA which sets forth the scope of services and/or identifies the products to be provided. From time-to-time, the Company may enter into longer-term contracts, which can range from several months to several years. Revenue on certain contracts is recognized as work is performed based on total costs incurred to date in relation to the total estimated costs for the performance of the contract at completion. This includes contract estimates of costs to be incurred for the performance of the contract. Cost estimation is based upon the professional knowledge and experience of the Company's project managers, engineers and financial professionals. Factors that are considered in estimating the work to be completed include the availability of materials, the effect of any delays in the Company's project performance and the recoverability of any claims. Whenever revisions of estimates, contract costs and/or contract values indicate that the contract costs will exceed estimated revenues, thus creating a loss, a provision for the total estimated loss is recorded in that period. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on the Consolidated Balance Sheets. Amounts are generally billed as work progresses in accordance with agreed-upon contractual terms, generally at periodic intervals (e.g., weekly, bi-weekly or monthly). Generally, billing occurs subsequent to revenue recognition, resulting in contract assets. However, the Company sometimes receives advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. These assets and liabilities are aggregated on an individual contract basis and reported on the Consolidated Balance Sheets at the end of each reporting period within accounts receivable, net or accrued expenses and other current liabilities.
Fair Value Measurements	Fair Value Measurements The Company performs fair value measurements in accordance with the guidance provided by ASC 820, Fair Value Measurements and Disclosures . ASC 820 defines fair value 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. It also establishes a three level hierarchy that prioritizes the inputs used to measure fair value. Financial instruments measured at fair value on a recurring basis The fair value of contingent consideration liabilities was estimated using a discounted cash flow technique with significant inputs that are not observable in the market and thus represents a Level 3 fair value measurement as defined in ASC 820. The significant inputs in the Level 3 measurement not supported by market activity include the probability assessments of expected Financial instruments not measured at fair value on a recurring basis The Company has evaluated current market conditions and borrower credit quality and has determined that the carrying value of its long-term debt approximates fair value. The fair value of the Company’s notes payable and finance lease obligations approximates their carrying amounts based on anticipated interest rates which management believes would currently be available to the Company for similar issuances of debt.
Segment Reporting	Segment Disclosure As noted in Note 1 - Description of Business and Basis of Presentation , the Company updated the naming convention of one of our three operating segments and the updates are reflected below. Our three operating segments are: • North America. This segment provides asset protection solutions predominantly in North America, with the largest concentration in the United States, followed by Canada, consisting primarily of NDT, inspection, mechanical and engineering services that are used to evaluate the safety, structural integrity and reliability of critical energy, industrial and public infrastructure and commercial aerospace components. Software, digital and data services are included in this segment. • International. This segment offers services, products and systems similar to those of the other segments to select markets within Europe, the Middle East, Africa, Asia and South America, but not to customers in China and South Korea, which are served by the Products and Systems segment. • Products and Systems. This segment designs, manufactures, sells, installs and services the Company’s asset protection products and systems, including equipment and instrumentation, predominantly in the United States. Costs incurred for general corporate services, including finance, legal, and certain other costs that are provided to the segments are reported within Corporate and eliminations. Sales to the International segment from the Products and Systems segment and subsequent sales by the International segment of the same items are recorded and reflected in the operating performance of both segments. Additionally, engineering charges and royalty fees charged to the North America and International segments by the Products and Systems segment are reflected in the operating performance of each segment. The accounting policies of the reportable segments are the same as those described in Note 1 - Description of Business and Basis of Presentation . Segment income from operations is one of the primary performance measures used by the chief operating decision maker, to assess the performance of each segment and make resource allocation decisions. Certain general and administrative costs such as human resources, information technology and training are allocated to the segments. Segment income from operations excludes interest and other financial charges and income taxes. Corporate and other assets are comprised principally of cash, deposits, property, plant and equipment, domestic deferred taxes, deferred charges and other assets. Corporate loss from operations consists of administrative charges related to corporate personnel and other charges that cannot be readily identified for allocation to a particular segment.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenues	The following series of tables present the Company's disaggregated revenue: Revenue by industry was as follows: Three Months Ended March 31, 2023 North America International Products & Systems Corp/Elim Total Oil & Gas $ 89,773 $ 8,855 $ 37 $ — $ 98,665 Aerospace & Defense 13,611 4,980 11 — 18,602 Industrials 9,302 6,053 558 — 15,913 Power generation & Transmission 4,987 1,657 1,326 — 7,970 Other Process Industries 9,109 3,237 27 — 12,373 Infrastructure, Research & Engineering 2,483 2,136 1,142 — 5,761 Petrochemical 5,137 145 — — 5,282 Other 2,530 2,344 638 (2,062) 3,450 Total $ 136,932 $ 29,407 $ 3,739 $ (2,062) $ 168,016 Three Months Ended March 31, 2022 North America International Products & Systems Corp/Elim Total Oil & Gas $ 86,613 $ 7,572 $ 38 $ — $ 94,223 Aerospace & Defense 15,022 4,940 108 — 20,070 Industrials 9,007 5,528 502 — 15,037 Power generation & Transmission 3,822 2,562 845 — 7,229 Other Process Industries 10,293 3,518 1 — 13,812 Infrastructure, Research & Engineering 2,506 2,039 897 — 5,442 Petrochemical 3,045 78 — — 3,123 Other 2,638 1,901 545 (2,358) 2,726 Total $ 132,946 $ 28,138 $ 2,936 $ (2,358) $ 161,662 Revenue per key geographic location was as follows: Three Months Ended March 31, 2023 North America International Products & Systems Corp/Elim Total United States $ 120,600 $ 309 $ 1,801 $ (598) $ 122,112 Other Americas 14,270 3,489 326 (432) 17,653 Europe 1,412 24,183 261 (826) 25,030 Asia-Pacific 650 1,426 1,351 (206) 3,221 Total $ 136,932 $ 29,407 $ 3,739 $ (2,062) $ 168,016 Three Months Ended March 31, 2022 North America International Products & Sytems Corp/Elim Total United States $ 113,935 $ 173 $ 1,351 $ (655) $ 114,804 Other Americas 18,052 1,341 16 (609) 18,800 Europe 744 25,920 580 (924) 26,320 Asia-Pacific 215 704 989 (170) 1,738 Total $ 132,946 $ 28,138 $ 2,936 $ (2,358) $ 161,662

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Vesting Activity of Restricted Stock Unit Awards	A summary of the vesting activity of restricted stock unit awards, with the respective fair value of the awards, is as follows: Three months ended March 31, 2023 2022 Restricted stock awards vested 338 226 Fair value of awards vested $ 1,946 $ 1,502
Schedule of Fully-vested Common Stock Issued to Non-employee Directors	A summary of the fully-vested common stock the Company issued to its six non-employee directors, in connection with its non-employee director compensation plan, is as follows: Three months ended March 31, 2023 2022 Awards issued 48 34 Grant date fair value of awards issued $ 275 $ 225
Schedule of Company's Outstanding, Nonvested Restricted Share Units and Performance Restricted Stock Units	A summary of the Company's outstanding, non-vested restricted share units is as follows: Three months ended March 31, 2023 2022 Units Weighted Units Weighted Outstanding at beginning of period: 1,415 $ 6.66 1,208 $ 7.96 Granted 542 $ 8.50 675 $ 7.65 Released (338) $ 5.76 (226) $ 13.73 Forfeited (22) $ 7.82 (7) $ 10.50 Outstanding at end of period: 1,597 $ 7.44 1,650 $ 7.16 A summary of the Company's PRSU activity is as follows: Three months ended March 31, 2023 2022 Units Weighted Units Weighted Outstanding at beginning of period: 280 $ 9.96 388 $ 10.07 Granted 282 $ 8.50 341 $ 6.55 Performance condition adjustments (32) $ 6.55 (56) $ 10.47 Released (64) $ 5.58 (17) $ 6.85 Forfeited (84) $ 6.95 — $ — Outstanding at end of period: 382 $ 9.12 656 $ 12.18

Earnings (loss) per Share (Tabl

Earnings (loss) per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Computations of Basic and Diluted Earnings (Loss) per Share	The following table sets forth the computations of basic and diluted loss per share: Three months ended March 31, 2023 2022 Basic loss per share Numerator: Net loss attributable to Mistras Group, Inc. $ (4,986) $ (5,363) Denominator: Weighted average common shares outstanding 30,021 29,634 Basic loss per share $ (0.17) $ (0.18) Diluted loss per share: Numerator: Net loss attributable to Mistras Group, Inc. $ (4,986) $ (5,363) Denominator: Weighted average common shares outstanding 30,021 29,634 Dilutive effect of restricted stock units outstanding (1) — — 30,021 29,634 Diluted loss per share $ (0.17) $ (0.18) _______________ (1) For the three months ended March 31, 2023 and 2022, 1,513,000 and 1,212,000 shares, respectively, related to restricted stock were excluded from the calculation of diluted EPS due to the net loss for the period.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Acquisition-related Expenses	These amounts are reported as Acquisition-related expense, net on the Unaudited Condensed Consolidated Statements of Loss and were as follows for the three months ended March 31, 2023 and 2022: Three months ended March 31, 2023 2022 Due diligence, professional fees and other transaction costs $ 3 $ 4 Adjustments to fair value of contingent consideration liabilities — 45 Acquisition-related expense, net $ 3 $ 49

Accounts Receivable, net (Table

Accounts Receivable, net (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivable consisted of the following: March 31, 2023 December 31, 2022 Trade accounts receivable $ 124,066 $ 127,767 Allowance for credit losses (3,641) (4,110) Accounts receivable, net $ 120,425 $ 123,657

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following (in thousands): March 31, 2023 December 31, 2022 Raw materials and consumable supplies $ 8,195 $ 7,745 Work in progress and finished goods 6,568 5,811 Inventories $ 14,763 $ 13,556

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	Property, plant and equipment consisted of the following: Useful Life (Years) March 31, 2023 December 31, 2022 Land $ 2,447 $ 2,529 Buildings and improvements 30-40 25,457 24,800 Office furniture and equipment 5-8 18,644 18,057 Machinery and equipment 5-7 257,227 251,282 303,775 296,668 Accumulated depreciation and amortization (224,959) (219,107) Property, plant and equipment, net $ 78,816 $ 77,561

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill by segment is shown below: North America International Products and Systems Total Balance at December 31, 2022 $ 185,710 $ 13,925 $ — $ 199,635 Foreign currency translation 80 241 321 Balance at March 31, 2023 $ 185,790 $ 14,166 $ — $ 199,956

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Net Carrying Amount of Intangible Assets	The gross amount, accumulated amortization and net carrying amount of intangible assets were as follows: March 31, 2023 December 31, 2022 Useful Life Gross Amount Accumulated Amortization Net Carrying Amount Gross Amount Accumulated Amortization Net Carrying Amount Customer relationships 5-18 $ 110,094 $ (85,850) $ 24,244 $ 109,683 $ (84,130) $ 25,553 Software/Technology 3-15 51,570 (29,498) 22,072 51,028 (28,669) 22,359 Covenants not to compete 2-5 12,495 (12,429) 66 12,488 (12,416) 72 Other 2-12 10,406 (9,428) 978 10,389 (9,358) 1,031 Total $ 184,565 $ (137,205) $ 47,360 $ 183,588 $ (134,573) $ 49,015

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following: March 31, 2023 December 31, 2022 Accrued salaries, wages and related employee benefits $ 25,855 $ 26,684 Contingent consideration, current portion — 937 Accrued workers’ compensation and health benefits 3,789 3,660 Deferred revenue 9,257 7,521 Pension accrual 2,519 2,519 Right-of-use liability - Operating 10,216 10,376 Other accrued expenses 25,491 26,147 Total $ 77,127 $ 77,844

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consisted of the following: March 31, 2023 December 31, 2022 Senior credit facility $ 65,150 $ 65,250 Senior secured term loan, net of unamortized debt issuance costs of $0.5 million and $0.5 million, respectively 119,863 121,399 Other 4,331 4,602 Total debt 189,344 191,251 Less: Current portion (7,372) (7,425) Long-term debt, net of current portion $ 181,972 $ 183,826

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Changes in Fair Value of Level 3 Contingent Consideration	The following table represents the changes in the fair value of Level 3 contingent consideration: Three months ended March 31, 2023 2022 Beginning balance $ 938 $ 1,831 Payments (938) (938) Revaluation — 45 Ending balance $ — $ 938

Segment Disclosure (Tables)

Segment Disclosure (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Selected Consolidated Financial Information by Segment	Selected consolidated financial information by segment for the periods shown was as follows: (with intercompany transactions eliminated in Corporate and eliminations) Three months ended March 31, 2023 2022 Revenue North America $ 136,932 $ 132,946 International 29,407 28,138 Products and Systems 3,739 2,936 Corporate and eliminations (2,062) (2,358) $ 168,016 $ 161,662 Three months ended March 31, 2023 2022 Gross profit North America $ 36,637 $ 30,526 International 7,367 8,190 Products and Systems 2,063 1,168 Corporate and eliminations 10 8 $ 46,077 $ 39,892 Income (loss) from operations by operating segment includes intercompany transactions, which are eliminated in Corporate and eliminations. Three months ended March 31, 2023 2022 Income (loss) from operations North America $ 9,378 $ 3,761 International (568) 284 Products and Systems 384 (582) Corporate and eliminations (11,024) (8,161) $ (1,830) $ (4,698) Three months ended March 31, 2023 2022 Depreciation and amortization North America $ 6,357 $ 6,593 International 1,859 2,058 Products and Systems 256 218 Corporate and eliminations (59) (62) $ 8,413 $ 8,807 March 31, 2023 December 31, 2022 Intangible assets, net North America $ 41,746 $ 43,260 International 4,117 4,422 Products and Systems 1,295 1,208 Corporate and eliminations 202 125 $ 47,360 $ 49,015 March 31, 2023 December 31, 2022 Total assets North America $ 394,280 $ 407,779 International 104,782 104,531 Products and Systems 13,415 12,408 Corporate and eliminations 18,342 10,186 $ 530,819 $ 534,904

Description of Business_and B_3

Description of Business and Basis of Presentation (Details) - segment	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounting Policies [Abstract]
Number of operating segments	3
Effective income tax rate	15.60%	19.30%

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized that was included in contract liability balance at the beginning of the year	$ 3.1	$ 2.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction period	1 year

Revenue - Disaggregated Revenue

Revenue - Disaggregated Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 168,016	$ 161,662
United States
Disaggregation of Revenue [Line Items]
Revenue	122,112	114,804
Other Americas
Disaggregation of Revenue [Line Items]
Revenue	17,653	18,800
Europe
Disaggregation of Revenue [Line Items]
Revenue	25,030	26,320
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	3,221	1,738
Oil & Gas
Disaggregation of Revenue [Line Items]
Revenue	98,665	94,223
Aerospace & Defense
Disaggregation of Revenue [Line Items]
Revenue	18,602	20,070
Industrials
Disaggregation of Revenue [Line Items]
Revenue	15,913	15,037
Power generation & Transmission
Disaggregation of Revenue [Line Items]
Revenue	7,970	7,229
Other Process Industries
Disaggregation of Revenue [Line Items]
Revenue	12,373	13,812
Infrastructure, Research & Engineering
Disaggregation of Revenue [Line Items]
Revenue	5,761	5,442
Petrochemical
Disaggregation of Revenue [Line Items]
Revenue	5,282	3,123
Other
Disaggregation of Revenue [Line Items]
Revenue	3,450	2,726
Operating segments | North America
Disaggregation of Revenue [Line Items]
Revenue	136,932	132,946
Operating segments | North America | United States
Disaggregation of Revenue [Line Items]
Revenue	120,600	113,935
Operating segments | North America | Other Americas
Disaggregation of Revenue [Line Items]
Revenue	14,270	18,052
Operating segments | North America | Europe
Disaggregation of Revenue [Line Items]
Revenue	1,412	744
Operating segments | North America | Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	650	215
Operating segments | North America | Oil & Gas
Disaggregation of Revenue [Line Items]
Revenue	89,773	86,613
Operating segments | North America | Aerospace & Defense
Disaggregation of Revenue [Line Items]
Revenue	13,611	15,022
Operating segments | North America | Industrials
Disaggregation of Revenue [Line Items]
Revenue	9,302	9,007
Operating segments | North America | Power generation & Transmission
Disaggregation of Revenue [Line Items]
Revenue	4,987	3,822
Operating segments | North America | Other Process Industries
Disaggregation of Revenue [Line Items]
Revenue	9,109	10,293
Operating segments | North America | Infrastructure, Research & Engineering
Disaggregation of Revenue [Line Items]
Revenue	2,483	2,506
Operating segments | North America | Petrochemical
Disaggregation of Revenue [Line Items]
Revenue	5,137	3,045
Operating segments | North America | Other
Disaggregation of Revenue [Line Items]
Revenue	2,530	2,638
Operating segments | International
Disaggregation of Revenue [Line Items]
Revenue	29,407	28,138
Operating segments | International | United States
Disaggregation of Revenue [Line Items]
Revenue	309	173
Operating segments | International | Other Americas
Disaggregation of Revenue [Line Items]
Revenue	3,489	1,341
Operating segments | International | Europe
Disaggregation of Revenue [Line Items]
Revenue	24,183	25,920
Operating segments | International | Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	1,426	704
Operating segments | International | Oil & Gas
Disaggregation of Revenue [Line Items]
Revenue	8,855	7,572
Operating segments | International | Aerospace & Defense
Disaggregation of Revenue [Line Items]
Revenue	4,980	4,940
Operating segments | International | Industrials
Disaggregation of Revenue [Line Items]
Revenue	6,053	5,528
Operating segments | International | Power generation & Transmission
Disaggregation of Revenue [Line Items]
Revenue	1,657	2,562
Operating segments | International | Other Process Industries
Disaggregation of Revenue [Line Items]
Revenue	3,237	3,518
Operating segments | International | Infrastructure, Research & Engineering
Disaggregation of Revenue [Line Items]
Revenue	2,136	2,039
Operating segments | International | Petrochemical
Disaggregation of Revenue [Line Items]
Revenue	145	78
Operating segments | International | Other
Disaggregation of Revenue [Line Items]
Revenue	2,344	1,901
Operating segments | Products & Systems
Disaggregation of Revenue [Line Items]
Revenue	3,739	2,936
Operating segments | Products & Systems | United States
Disaggregation of Revenue [Line Items]
Revenue	1,801	1,351
Operating segments | Products & Systems | Other Americas
Disaggregation of Revenue [Line Items]
Revenue	326	16
Operating segments | Products & Systems | Europe
Disaggregation of Revenue [Line Items]
Revenue	261	580
Operating segments | Products & Systems | Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	1,351	989
Operating segments | Products & Systems | Oil & Gas
Disaggregation of Revenue [Line Items]
Revenue	37	38
Operating segments | Products & Systems | Aerospace & Defense
Disaggregation of Revenue [Line Items]
Revenue	11	108
Operating segments | Products & Systems | Industrials
Disaggregation of Revenue [Line Items]
Revenue	558	502
Operating segments | Products & Systems | Power generation & Transmission
Disaggregation of Revenue [Line Items]
Revenue	1,326	845
Operating segments | Products & Systems | Other Process Industries
Disaggregation of Revenue [Line Items]
Revenue	27	1
Operating segments | Products & Systems | Infrastructure, Research & Engineering
Disaggregation of Revenue [Line Items]
Revenue	1,142	897
Operating segments | Products & Systems | Petrochemical
Disaggregation of Revenue [Line Items]
Revenue	0	0
Operating segments | Products & Systems | Other
Disaggregation of Revenue [Line Items]
Revenue	638	545
Corp/Elim
Disaggregation of Revenue [Line Items]
Revenue	(2,062)	(2,358)
Corp/Elim | United States
Disaggregation of Revenue [Line Items]
Revenue	(598)	(655)
Corp/Elim | Other Americas
Disaggregation of Revenue [Line Items]
Revenue	(432)	(609)
Corp/Elim | Europe
Disaggregation of Revenue [Line Items]
Revenue	(826)	(924)
Corp/Elim | Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	(206)	(170)
Corp/Elim | Oil & Gas
Disaggregation of Revenue [Line Items]
Revenue	0	0
Corp/Elim | Aerospace & Defense
Disaggregation of Revenue [Line Items]
Revenue	0	0
Corp/Elim | Industrials
Disaggregation of Revenue [Line Items]
Revenue	0	0
Corp/Elim | Power generation & Transmission
Disaggregation of Revenue [Line Items]
Revenue	0	0
Corp/Elim | Other Process Industries
Disaggregation of Revenue [Line Items]
Revenue	0	0
Corp/Elim | Infrastructure, Research & Engineering
Disaggregation of Revenue [Line Items]
Revenue	0	0
Corp/Elim | Petrochemical
Disaggregation of Revenue [Line Items]
Revenue	0	0
Corp/Elim | Other
Disaggregation of Revenue [Line Items]
Revenue	$ (2,062)	$ (2,358)

Share-Based Compensation - Equi

Share-Based Compensation - Equity Incentive Plans (Details)		3 Months Ended
	May 23, 2022 shares	Mar. 31, 2023 USD ($) plan shares	Mar. 31, 2022 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans | plan		2
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation expense (benefit) | $		$ 0	$ 0
2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares authorized for issuance (in shares)			0
2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares authorized for issuance (in shares)	4,900,000
Number of awards that may be granted (in shares)		1,100,000
Increase in total number of shares authorized for issuance (in shares)	1,200,000

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Unit Awards - Narrative (Details) - Restricted Stock Unit Awards - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation expense (benefit)	$ 0.9	$ 0.9
Unrecognized compensation cost, net of estimated forfeitures	$ 10
Weighted-average period over which unrecognized compensation cost is expected to be recognized (years)	3 years 1 month 6 days

Share-Based Compensation - Vest

Share-Based Compensation - Vesting Activity of Restricted Stock Unit Awards (Details) - Restricted Stock Unit Awards - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards vested (in shares)	338	226
Fair value of awards vested	$ 1,946	$ 1,502

Share-Based Compensation - Full

Share-Based Compensation - Fully-vested Common Stock Issued to Non-employee Directors (Details) - Common Stock - Non-employee Directors shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) director shares	Mar. 31, 2022 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of non-employee directors to whom fully vested common stock is granted | director	6
Awards issued (in shares) | shares	48	34
Grant date fair value of awards issued | $	$ 275	$ 225

Share-Based Compensation - Re_2

Share-Based Compensation - Restricted Stock Units Awards - Activity (Details) - Restricted Stock Unit Awards - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restricted Stock Units Awards (Units)
Outstanding at beginning of period (in shares)	1,415	1,208
Granted (in shares)	542	675
Released (in shares)	(338)	(226)
Forfeited (in shares)	(22)	(7)
Outstanding at end of period (in shares)	1,597	1,650
Weighted Average Grant-Date Fair Value (in dollars per share)
Outstanding at the beginning of period (in dollars per share)	$ 6.66	$ 7.96
Granted (in dollars per share)	8.50	7.65
Released (in dollars per share)	5.76	13.73
Forfeited (in dollars per share)	7.82	10.50
Outstanding at end of period (in dollars per share)	$ 7.44	$ 7.16

Share-Based Compensation - Perf

Share-Based Compensation - Performance Restricted Stock Units - Narrative (Details) - PRSUs shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) metric shares	Mar. 31, 2022 USD ($) shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units increased (decreased) during the period (in shares) | shares	32
Recognized share-based compensation expense (benefit) | $	$ 0.7	$ 0.3
Unrecognized compensation cost | $	$ 2.8
Nonvested shares outstanding (in shares) | shares	382	656	280	388
Weighted-average period over which unrecognized compensation cost is expected to be recognized (years)	2 years
Executive and Senior Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (years)	1 year
Vesting period	4 years
Requisite service period	5 years
Executive Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (years)	1 year
Number of performance award metrics | metric	3
Average share price trading period	20 days
Last days trading period	20 days
Dividend yield	0%

Share-Based Compensation - Pe_2

Share-Based Compensation - Performance Restricted Stock Units - Activity (Details) - PRSUs - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Performance Restricted Stock (Units)
Outstanding at beginning of period (in shares)	280	388
Granted (in shares)	282	341
Performance condition adjustments (in shares)	(32)	(56)
Released (in shares)	(64)	(17)
Forfeited (in shares)	(84)	0
Outstanding at end of period (in shares)	382	656
Weighted Average Grant-Date Fair Value (in dollars per share)
Outstanding at the beginning of period (in dollars per share)	$ 9.96	$ 10.07
Granted (in dollars per share)	8.50	6.55
Performance condition adjustments (in dollars per share)	6.55	10.47
Released (in dollars per share)	5.58	6.85
Forfeited (in dollars per share)	6.95	0
Outstanding at end of period (in dollars per share)	$ 9.12	$ 12.18

Earnings (loss) per Share (Deta

Earnings (loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Basic loss per share
Net loss attributable to Mistras Group, Inc.	$ (4,986)	$ (5,363)
Denominator:
Weighted-average common shares outstanding (in shares)	30,021	29,634
Basic loss per share (in dollars per share)	$ (0.17)	$ (0.18)
Denominator:
Weighted-average common shares outstanding (in shares)	30,021	29,634
Dilutive effect of restricted stock units outstanding (in shares)	0	0
Weighted-average common shares outstanding, diluted (in shares)	30,021	29,634
Diluted loss per share (in dollars per share)	$ (0.17)	$ (0.18)
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares excluded from computation of diluted EPS due to net loss for the period (in shares)	1,513	1,212

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Due diligence, professional fees and other transaction costs	$ 3	$ 4
Adjustments to fair value of contingent consideration liabilities	0	45
Acquisition-related expense, net	$ 3	$ 49

Accounts Receivable, net - Summ

Accounts Receivable, net - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Trade accounts receivable	$ 124,066	$ 127,767
Allowance for credit losses	(3,641)	(4,110)
Accounts receivable, net	$ 120,425	$ 123,657

Accounts Receivable, net - Narr

Accounts Receivable, net - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2019	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled revenues accrued		$ 21,600	$ 13,500
Past due receivables outstanding		$ 120,425	$ 123,657
Texas Customer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due receivables outstanding	$ 1,400
Amount of damages claimed	$ 1,400

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials and consumable supplies	$ 8,195	$ 7,745
Work in progress and finished goods	6,568	5,811
Inventories	$ 14,763	$ 13,556

Property, Plant and Equipment_3

Property, Plant and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property, Plant and Equipment, net
Property, plant and equipment, gross	$ 303,775		$ 296,668
Accumulated depreciation and amortization	(224,959)		(219,107)
Property, plant and equipment, net	78,816		77,561
Depreciation and amortization expense	6,300	$ 6,600
Land
Property, Plant and Equipment, net
Property, plant and equipment, gross	2,447		2,529
Buildings and improvements
Property, Plant and Equipment, net
Property, plant and equipment, gross	$ 25,457		24,800
Buildings and improvements | Minimum
Property, Plant and Equipment, net
Useful Life (Years)	30 years
Buildings and improvements | Maximum
Property, Plant and Equipment, net
Useful Life (Years)	40 years
Office furniture and equipment
Property, Plant and Equipment, net
Property, plant and equipment, gross	$ 18,644		18,057
Office furniture and equipment | Minimum
Property, Plant and Equipment, net
Useful Life (Years)	5 years
Office furniture and equipment | Maximum
Property, Plant and Equipment, net
Useful Life (Years)	8 years
Machinery and equipment
Property, Plant and Equipment, net
Property, plant and equipment, gross	$ 257,227		$ 251,282
Machinery and equipment | Minimum
Property, Plant and Equipment, net
Useful Life (Years)	5 years
Machinery and equipment | Maximum
Property, Plant and Equipment, net
Useful Life (Years)	7 years

Goodwill - Changes in Carrying

Goodwill - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2022	$ 199,635
Foreign currency translation	321
Balance at March 31, 2023	199,956
North America
Goodwill [Roll Forward]
Balance at December 31, 2022	185,710
Foreign currency translation	80
Balance at March 31, 2023	185,790
International
Goodwill [Roll Forward]
Balance at December 31, 2022	13,925
Foreign currency translation	241
Balance at March 31, 2023	14,166
Products and Systems
Goodwill [Roll Forward]
Balance at December 31, 2022	0
Foreign currency translation
Balance at March 31, 2023	$ 0

Intangible Assets - Summary (De

Intangible Assets - Summary (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 184,565		$ 183,588
Accumulated Amortization	(137,205)		(134,573)
Net Carrying Amount	47,360		49,015
Amortization expense of intangibles	2,100	$ 2,400
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	110,094		109,683
Accumulated Amortization	(85,850)		(84,130)
Net Carrying Amount	$ 24,244		25,553
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	5 years
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	18 years
Software/Technology
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 51,570		51,028
Accumulated Amortization	(29,498)		(28,669)
Net Carrying Amount	$ 22,072		22,359
Software/Technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	3 years
Software/Technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	15 years
Covenants not to compete
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 12,495		12,488
Accumulated Amortization	(12,429)		(12,416)
Net Carrying Amount	$ 66		72
Covenants not to compete | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	2 years
Covenants not to compete | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	5 years
Other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 10,406		10,389
Accumulated Amortization	(9,428)		(9,358)
Net Carrying Amount	$ 978		$ 1,031
Other | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	2 years
Other | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	12 years

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued salaries, wages and related employee benefits	$ 25,855	$ 26,684
Contingent consideration, current portion	0	937
Accrued workers’ compensation and health benefits	3,789	3,660
Deferred revenue	9,257	7,521
Pension accrual	2,519	2,519
Right-of-use liability - Operating	10,216	10,376
Other accrued expenses	25,491	26,147
Total	$ 77,127	$ 77,844

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total debt	$ 189,344	$ 191,251
Less: Current portion	(7,372)	(7,425)
Long-term debt, net of current portion	181,972	183,826
Senior credit facility
Debt Instrument [Line Items]
Total debt	65,150	65,250
Senior credit facility | Senior Secured Term Loan
Debt Instrument [Line Items]
Unamortized debt issuance costs	500	500
Total debt	119,863	121,399
Other
Debt Instrument [Line Items]
Total debt	$ 4,331	$ 4,602

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)		3 Months Ended
	Aug. 01, 2022 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	May 19, 2021 USD ($)
Debt Instrument [Line Items]
Debt outstanding		$ 189,344,000		$ 191,251,000
Line of Credit | The Credit Agreement, JP Morgan Chase Bank
Debt Instrument [Line Items]
Lowest available margin applicable	1.25
Maximum margin, if greater than	3.75
Fixed charge coverage ratio	1.25
Number of business days written notice is required	5 days
Minimum amount for threshold of business acquisition	$ 10,000,000
Line of Credit | The Credit Agreement, JP Morgan Chase Bank | Quarter ending March 31, 2022
Debt Instrument [Line Items]
Total consolidated debt leverage ratio	4
Line of Credit | The Credit Agreement, JP Morgan Chase Bank | End of each quarter subsequent to March 31, 2022
Debt Instrument [Line Items]
Total consolidated debt leverage ratio	3.75
Line of Credit | The Credit Agreement, JP Morgan Chase Bank | Debt Covenant Period Three
Debt Instrument [Line Items]
Debt periodic payments	$ 1,560,000
Line of Credit | The Credit Agreement, JP Morgan Chase Bank | Debt Covenant Period Four
Debt Instrument [Line Items]
Debt periodic payments	2,340,000
Line of Credit | The Credit Agreement, JP Morgan Chase Bank | Debt Covenant Period Five
Debt Instrument [Line Items]
Debt periodic payments	$ 3,120,000
Line of Credit | The Credit Agreement, JP Morgan Chase Bank | Variable Rate Component | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Margin rate (as a percent)	2.75%
Line of Credit | The Credit Agreement, JP Morgan Chase Bank | Variable Rate Component | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Margin rate (as a percent)	1.25%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding		65,150,000		65,250,000
Outstanding borrowings		185,000,000
Outstanding letters of credit		2,600,000
Capitalized costs associated with debt modifications		1,400,000
Revolving Credit Facility | Senior Secured Term Loan A Facility
Debt Instrument [Line Items]
Debt outstanding		119,863,000		121,399,000
Revolving Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Capitalized unamortized debt issuance costs			$ 800,000
Financing costs incurred			1,600,000
Third party debt issuance costs expensed			$ 200,000
Other
Debt Instrument [Line Items]
Debt outstanding		4,331,000		$ 4,602,000
Other | Maximum
Debt Instrument [Line Items]
Debt periodic payments		$ 16,000
Interest rate		3.50%
Other | Minimum
Debt Instrument [Line Items]
Debt periodic payments		$ 700
Interest rate		0.40%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 150,000,000
Revolving Credit Facility | Line of Credit | The Credit Agreement, JP Morgan Chase Bank
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 190,000,000
Debt term (in years)	5 years
Maximum borrowing capacity in non-U.S. Dollar currencies	$ 100,000,000
Secured Debt | Line of Credit | The Credit Agreement, JP Morgan Chase Bank
Debt Instrument [Line Items]
Face amount of loan	125,000,000				$ 100,000,000
Letter of Credit | Line of Credit | The Credit Agreement, JP Morgan Chase Bank
Debt Instrument [Line Items]
Maximum amount available for the issuance of letters of credit	$ 20,000,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Level 3 - Contingent Consideration - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning balance	$ 938	$ 1,831
Payments	(938)	(938)
Revaluation	0	45
Ending balance	$ 0	$ 938

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands		1 Months Ended	3 Months Ended			12 Months Ended
	Oct. 05, 2021 USD ($)	Dec. 31, 2019 USD ($) weld	Mar. 31, 2023 USD ($) claim	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($)	Jan. 01, 2020 USD ($)
Litigation
Accounts receivable, net			$ 120,425			$ 123,657
Allowance for credit losses			3,641			4,110
Pension plan withdrawal, potential liability			2,519			2,519
Texas Customer
Litigation
Accounts receivable, net		$ 1,400
Amount of damages claimed		1,400
Litigation and Commercial Claims | Various Pipeline Projects for Texas Customer
Litigation
Amount of damages claimed		$ 7,600
Litigation and Commercial Claims | Texas Customer
Litigation
Accounts receivable, net			$ 1,400
Number or welds not in compliance | weld		66
Number of welds inspected (over) | weld		16,000
Allowance for credit losses		$ 1,400
Litigation and Commercial Claims | Texas Customer | Various Pipeline Projects for Texas Customer
Litigation
Amount of damages claimed		$ 1,400
Contingency charges						$ 100
Class Action
Litigation
Contingency charges				$ 1,600	$ 800
Number of proceedings | claim			2
Number of consolidated cases | claim			2
Settlement liability	$ 2,300
Class Action on Behalf of Employees
Litigation
Number of proceedings | claim			1
Class Action on Behalf of State of California
Litigation
Number of proceedings | claim			1
Pension Related Contingencies
Litigation
Pension plan withdrawal, potential liability			$ 2,500
Severance and Labor Disputes | Foreign Subsidiary | Right to Customer Contracts | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Germany
Litigation
Contingency charges			100
Consideration received on sale of subsidiary							$ 100
Estimated severance obligations			200
Payments of severance obligations			400
Reversal of severance obligations			$ 1,000

Segment Disclosure (Details)

Segment Disclosure (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment	3
Financial information by segment
Revenue	$ 168,016	$ 161,662
Gross profit	46,077	39,892
Income (loss) from operations	(1,830)	(4,698)
Depreciation and amortization	8,413	8,807
Intangible assets, net	47,360		$ 49,015
Total assets	530,819		534,904
Operating segments | North America
Financial information by segment
Revenue	136,932	132,946
Gross profit	36,637	30,526
Income (loss) from operations	9,378	3,761
Depreciation and amortization	6,357	6,593
Intangible assets, net	41,746		43,260
Total assets	394,280		407,779
Operating segments | International
Financial information by segment
Revenue	29,407	28,138
Gross profit	7,367	8,190
Income (loss) from operations	(568)	284
Depreciation and amortization	1,859	2,058
Intangible assets, net	4,117		4,422
Total assets	104,782		104,531
Operating segments | Products and Systems
Financial information by segment
Revenue	3,739	2,936
Gross profit	2,063	1,168
Income (loss) from operations	384	(582)
Depreciation and amortization	256	218
Intangible assets, net	1,295		1,208
Total assets	13,415		12,408
Corporate and eliminations
Financial information by segment
Revenue	(2,062)	(2,358)
Gross profit	10	8
Income (loss) from operations	(11,024)	(8,161)
Depreciation and amortization	(59)	$ (62)
Intangible assets, net	202		125
Total assets	$ 18,342		$ 10,186

Subsequent Events (Details)

Subsequent Events (Details) - Litigation and Commercial Claims - Subsequent Event - Various Pipeline Projects for Texas Customer - Texas Customer $ in Millions	Apr. 25, 2023 USD ($)
Subsequent Event [Line Items]
Settlement liability	$ 0.3
Damages no longer sought	$ 1.4