Nine Energy Service (NINE) 10-Q 4 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-38347
Entity Registrant Name	Nine Energy Service, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0759121
Entity Address, Address Line One	2001 Kirby Drive, Suite 200
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77019
City Area Code	281
Local Phone Number	730-5100
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NINE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,719,366
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001532286
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 19,941	$ 21,509
Accounts receivable, net	79,744	64,025
Income taxes receivable	1,108	1,393
Inventories, net	45,959	42,180
Prepaid expenses and other current assets	12,227	10,195
Total current assets	158,979	139,302
Property and equipment, net	81,808	86,958
Operating lease right of use assets, net	33,883	35,117
Finance lease right of use assets, net	1,520	1,445
Intangible assets, net	112,504	116,408
Other long-term assets	2,175	2,383
Total assets	390,869	381,613
Current liabilities
Accounts payable	29,887	28,680
Accrued expenses	29,606	18,519
Current portion of long-term debt	1,168	2,093
Current portion of operating lease obligations	6,085	6,091
Current portion of finance lease obligations	989	1,070
Total current liabilities	67,735	56,453
Long-term liabilities
Long-term debt	337,731	332,314
Long-term operating lease obligations	29,181	30,435
Long-term finance lease obligations	0	65
Other long-term liabilities	1,588	1,613
Total liabilities	436,235	420,880
Commitments and contingencies
Stockholders’ equity
Common stock (120,000,000 shares authorized at $0.01 par value; 32,821,113 and 32,826,325 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively)	328	328
Additional paid-in capital	774,142	773,350
Accumulated other comprehensive loss	(4,527)	(4,535)
Accumulated deficit	(815,309)	(808,410)
Total stockholders’ equity	(45,366)	(39,267)
Total liabilities and stockholders’ equity	$ 390,869	$ 381,613

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	32,821,113	32,826,325
Common stock, shares outstanding (in shares)	32,821,113	32,826,325

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues	$ 116,935	$ 66,626
Cost and expenses
General and administrative expenses	11,836	10,224
Depreciation	6,504	7,789
Amortization of intangibles	3,904	4,092
(Gain) loss on revaluation of contingent liability	5	(190)
Gain on sale of property and equipment	(714)	(273)
Income (loss) from operations	1,082	(17,299)
Interest expense	8,077	8,585
Interest income	(12)	(13)
Gain on extinguishment of debt	0	(17,618)
Other income	(196)	(34)
Loss before income taxes	(6,787)	(8,219)
Provision for income taxes	112	27
Net loss	$ (6,899)	$ (8,246)
Loss per share
Basic (in usd per share)	$ (0.23)	$ (0.28)
Diluted (in usd per share)	$ (0.23)	$ (0.28)
Weighted average shares outstanding
Basic (in shares)	30,491,976	29,878,426
Diluted (in shares)	30,491,976	29,878,426
Other comprehensive income, net of tax
Foreign currency translation adjustments, net of $0 tax in each period	$ 8	$ 41
Total other comprehensive income, net of tax	8	41
Total comprehensive loss	(6,891)	(8,205)
Service
Revenues	88,222	46,617
Cost and expenses
Cost of revenues (exclusive of depreciation and amortization shown separately below)	72,735	45,229
Product
Revenues	28,713	20,009
Cost and expenses
Cost of revenues (exclusive of depreciation and amortization shown separately below)	$ 21,583	$ 17,054

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Tax associated with foreign currency translation	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Accumulated Deficit)
Beginning balance (in shares) at Dec. 31, 2020		31,557,809
Beginning balance at Dec. 31, 2020	$ 20,409	$ 316	$ 768,429	$ (4,501)	$ (743,835)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock compensation plan, net of forfeitures (in shares)		(2,488)
Issuance of common stock under stock compensation plan, net of forfeitures	0
Stock-based compensation expense	2,010		2,010
Vesting of restricted stock and stock units (in shares)		(37,339)
Vesting of restricted stock and stock units	(131)	$ (1)	(130)
Other comprehensive income	41			41
Net loss	(8,246)				(8,246)
Ending balance (in shares) at Mar. 31, 2021		31,517,982
Ending balance at Mar. 31, 2021	14,083	$ 315	770,309	(4,460)	(752,081)
Beginning balance (in shares) at Dec. 31, 2021		32,826,325
Beginning balance at Dec. 31, 2021	(39,267)	$ 328	773,350	(4,535)	(808,410)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock compensation plan, net of forfeitures (in shares)		(1,317)
Issuance of common stock under stock compensation plan, net of forfeitures	0
Stock-based compensation expense	927		927
Vesting of restricted stock and stock units (in shares)		(3,895)
Vesting of restricted stock and stock units	(135)		(135)
Other comprehensive income	8			8
Net loss	(6,899)				(6,899)
Ending balance (in shares) at Mar. 31, 2022		32,821,113
Ending balance at Mar. 31, 2022	$ (45,366)	$ 328	$ 774,142	$ (4,527)	$ (815,309)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss	$ (6,899)	$ (8,246)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation	6,504	7,789
Amortization of intangibles	3,904	4,092
Amortization of operating leases	1,991	2,041
Amortization of deferred financing costs	643	676
Provision for (recovery of) doubtful accounts	(172)	34
Provision for inventory obsolescence	1,077	906
Stock-based compensation expense	927	2,010
Gain on extinguishment of debt	0	(17,618)
Gain on sale of property and equipment	(714)	(273)
(Gain) loss on revaluation of contingent liability	5	(190)
Changes in operating assets and liabilities
Accounts receivable, net	(15,541)	(6,921)
Inventories, net	(4,838)	(1,247)
Prepaid expenses and other current assets	(2,528)	2,412
Accounts payable and accrued expenses	10,951	11,136
Income taxes receivable/payable	285	250
Other assets and liabilities	(2,054)	(2,094)
Net cash used in operating activities	(6,459)	(5,243)
Cash flows from investing activities
Proceeds from sales of property and equipment	2,041	843
Proceeds from property and equipment casualty losses	175	0
Purchases of property and equipment	(876)	(2,428)
Net cash provided by (used in) investing activities	1,340	(1,585)
Cash flows from financing activities
Proceeds from 2018 ABL Credit Facility	5,000	0
Purchases of Senior Notes	0	(8,355)
Payments of short-term debt	(363)	0
Payments on Magnum Promissory Notes	(562)	(281)
Payments on finance leases	(329)	(264)
Payments of contingent liability	(44)	(30)
Vesting of restricted stock and stock units	(135)	(131)
Net cash provided by (used in) financing activities	3,567	(9,061)
Impact of foreign currency exchange on cash	(16)	7
Net decrease in cash and cash equivalents	(1,568)	(15,882)
Cash and cash equivalents
Cash and cash equivalents beginning of period	21,509	68,864
Cash and cash equivalents end of period	19,941	52,982
Supplemental disclosures of cash flow information:
Cash paid for interest	381	1,240
Cash refunded for income taxes	173	224
Cash paid for operating leases	1,991	2,099
Right of use assets obtained in exchange for operating lease obligations	347	410
Right of use assets obtained in exchange for finance lease obligations	183	0
Non-cash investing and financing activities:
Capital expenditures in accounts payable and accrued expenses	1,436	198
Receivable from property and equipment sale (including insurance)	$ 0	$ 2,479

Company and Organization

Company and Organization	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company and Organization	Company and Organization Background Nine Energy Service, Inc. (the “Company” or “Nine”), a Delaware corporation, is an oilfield services business that provides services integral to the completion of unconventional wells through a full range of tools and methodologies. The Company is headquartered in Houston, Texas. The Company’s chief operating decision maker, which is its Chief Executive Officer, and its board of directors allocate resources and assess performance based on financial information presented at a consolidated level. Accordingly, the Company determined that it operates as one reportable segment, known as Completion Solutions . Risks and Uncertainties The Company’s business depends, to a significant extent, on the level of unconventional resource development activity and corresponding capital spending of oil and natural gas companies. These activity and spending levels are strongly influenced by current and expected oil and natural gas prices. Following an extreme decline in activity levels and pricing in 2020, the Company has been focused on strategically implementing price increases. Thus far in 2022, oil and natural gas prices have improved and activity levels have increased, resulting in higher demand for the Company’s products and services. Due to a heightened competition for qualified labor, an under-supply of equipment, and other supply chain-related constraints, the Company has begun to implement price increases in most service lines. Finding and retaining qualified labor continues to be a challenge resulting in significant wage inflation, offsetting some of the price increases. While activity is expected to increase throughout the rest of 2022, the Company’s earnings will be affected by its customers’ activity plans, the Company’s ability to implement further price increases, the impact of wage and labor inflation, and labor shortage and supply chain constraints. Additionally, activity levels could be affected as oilfield service providers raise prices and customers are impacted by cost inflation to drill, complete, and produce oil and natural gas wells. Historically, the Company has met its liquidity needs principally from cash on hand, cash flow from operations and, if needed, external borrowings and issuances of debt securities. At March 31, 2022, the Company had $19.9 million of cash and cash equivalents and $54.7 million of availability under the 2018 ABL Credit Facility (as defined in Note 8 – Debt Obligations), which resulted in a total liquidity position of $74.6 million. The Company expects its liquidity position to continue to erode, due in large part to semi-annual interest payments on May 1 and November 1 of each year of $14.0 million each on its Senior Notes (as defined in Note 8 – Debt Obligations). At March 31, 2022, the Company had $20.0 million of borrowings under the 2018 ABL Credit Facility and borrowed an additional $7.0 million in April 2022. The 2018 ABL Credit Facility will mature on October 25, 2023, or, if earlier, on the date that is 180 days before the scheduled maturity date of the Senior Notes if they have not been redeemed or repurchased by such date. As of March 31, 2022, there were approximately $320.3 million aggregate principal amount of Senior Notes outstanding. The Senior Notes will mature on October 25, 2023. In the absence of redemption or repurchase of the Senior Notes, the effective maturity date of the 2018 ABL Credit Facility would be April 28, 2023. Management’s plans to satisfy these obligations include refinancing or restructuring the Company’s indebtedness, seeking additional sources of capital, selling assets, or a combination thereof. Any such transactions may involve the issuance of additional equity or convertible debt securities that could result in material dilution to the Company’s stockholders, and these securities could have rights superior to holders of the Company’s common stock and could contain covenants that will restrict its operations. The Company’s ability to successfully execute these plans is dependent on its financial condition and operating performance, which are subject to prevailing economic and competitive conditions and certain financial, business, and other factors, many of which are beyond the Company’s control. There can be no assurance that the Company will succeed in executing these plans. If unsuccessful, the Company will not have sufficient liquidity and capital resources to repay its indebtedness when it matures, or otherwise meet its cash requirements over the next twelve months, which raises substantial doubt about its ability to continue as a going concern.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Condensed Consolidated Financial Information In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of March 31, 2022, and its results of operations for the three months ended March 31, 2022 and 2021, and cash flows for the three months ended March 31, 2022 and 2021. These condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), in a manner consistent with the accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, unless otherwise disclosed herein, and should be read in conjunction therewith. The Condensed Consolidated Balance Sheet at December 31, 2021 was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year. Principles of Consolidation The condensed consolidated financial statements include the accounts of Nine and its wholly owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future. Such estimates include fair value assumptions used in analyzing long-lived assets for possible impairment, useful lives used in depreciation and amortization expense, recognition of provisions for contingencies, and stock-based compensation fair value. It is at least reasonably possible that the estimates used will change within the next year.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	New Accounting Standards In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes: Simplifying the Accounting for Income Taxes , which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles and clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for public businesses for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. As an emerging growth company, the Company is permitted, and plans, to adopt the new standard for fiscal years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. The Company does not expect the standard to have a material impact on its condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ASU 2016-13 requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The amendments in ASU 2016-13 replace the current incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information. ASU 2016-13 is effective for SEC filers, excluding smaller reporting companies, for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. As an emerging growth company, the Company is permitted, and plans, to adopt the new standard for the fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company does not expect the standard to have a material impact on its condensed consolidated financial statements.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Disaggregation of Revenue Disaggregated revenue for the three months ended March 31, 2022 and 2021 was as follows: Three Months Ended March 31, 2022 2021 (in thousands) Cement $ 45,238 $ 22,922 Tools 28,713 20,009 Wireline 21,403 12,752 Coiled tubing 21,581 10,943 Total revenues $ 116,935 $ 66,626 Three Months Ended March 31, 2022 2021 (in thousands) Service (1) $ 88,222 $ 46,617 Product (1) 28,713 20,009 Total revenues $ 116,935 $ 66,626 (1) The Company recognizes revenues from the sales of products at a point in time and revenues from the sales of services over time. Performance Obligations At March 31, 2022 and December 31, 2021, the amount of remaining performance obligations was not material. Contract Balances At March 31, 2022 and December 31, 2021, the amount of contract assets and contract liabilities was not material.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, consisting primarily of finished goods and raw materials, are stated at the lower of cost or net realizable value. Cost is determined on an average cost basis. The Company reviews its inventory balances and writes down its inventory for estimated obsolescence or excess inventory equal to the difference between the cost of inventory and the estimated market value based upon assumptions about future demand and market conditions. The reserve for obsolescence was $9.3 million and $9.0 million at March 31, 2022 and December 31, 2021, respectively. Inventories, net as of March 31, 2022 and December 31, 2021 were comprised of the following: March 31, 2022 December 31, 2021 (in thousands) Raw materials $ 33,146 $ 31,153 Work in progress 679 675 Finished goods 21,426 19,323 Inventories 55,251 51,151 Reserve for obsolescence (9,292) (8,971) Inventories, net $ 45,959 $ 42,180

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The gross carrying amount and accumulated amortization of intangible assets as of March 31, 2022 and December 31, 2021 was as follows: March 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Amortization Period (in thousands, except weighted average amortization period information) Customer relationships $ 63,270 $ (46,890) $ 16,380 5.3 Non-compete agreements 6,500 (5,866) 634 1.6 Technology 125,110 (30,620) 94,490 11.4 In-process research and development 1,000 — 1,000 Indefinite Total $ 195,880 $ (83,376) $ 112,504 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Amortization Period (in thousands, except weighted average amortization period information) Customer relationships $ 63,270 $ (45,187) $ 18,083 5.3 Non-compete agreements 6,500 (5,766) 734 2.0 Technology 125,110 (28,519) 96,591 11.7 In-process research and development 1,000 — 1,000 Indefinite Total $ 195,880 $ (79,472) $ 116,408 Amortization of intangibles expense was $3.9 million and $4.1 million for the three months ended March 31, 2022 and 2021, respectively. Future estimated amortization of intangibles is as follows: Year Ending December 31, (in thousands) 2022 $ 9,559 2023 11,516 2024 11,183 2025 11,183 2026 11,082 2027 10,315 Thereafter 46,666 Total $ 111,504

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses as of March 31, 2022 and December 31, 2021 consisted of the following: March 31, 2022 December 31, 2021 (in thousands) Accrued interest $ 11,977 $ 4,980 Accrued compensation and benefits 9,339 6,897 Accrued bonus 2,117 1,125 Accrued legal fees and settlements 740 1,076 Other accrued expenses 5,433 4,441 Accrued expenses $ 29,606 $ 18,519

Debt Obligations

Debt Obligations	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt Obligations	Debt Obligations The Company’s debt obligations as of March 31, 2022 and December 31, 2021 were as follows: March 31, 2022 December 31, 2021 (in thousands) Senior Notes $ 320,343 $ 320,343 2018 ABL Credit Facility 20,000 15,000 Magnum Promissory Notes 563 1,125 Other short-term debt 605 968 Total debt before deferred financing costs $ 341,511 $ 337,436 Deferred financing costs (2,612) (3,029) Total debt $ 338,899 $ 334,407 Less: Current portion of long-term debt (1,168) (2,093) Long-term debt $ 337,731 $ 332,314 Senior Notes Background On October 25, 2018, the Company issued $400.0 million principal amount of 8.750% Senior Notes due 2023 (the “Senior Notes”). The Senior Notes were issued under an indenture, dated as of October 25, 2018 (the “Indenture”), by and among the Company, certain subsidiaries of the Company and Wells Fargo, National Association, as trustee. The Senior Notes bear interest at an annual rate of 8.750% payable on May 1 and November 1 of each year, and the first interest payment was due on May 1, 2019. The Senior Notes are senior unsecured obligations of the Company and are fully and unconditionally guaranteed on a senior unsecured basis by each of the Company’s current domestic subsidiaries and by certain future subsidiaries. The Indenture contains covenants that limit the Company’s ability and the ability of its restricted subsidiaries to engage in certain activities. The Company was in compliance with the provisions of the Indenture at March 31, 2022. Upon an event of default, the trustee or the holders of at least 25% in aggregate principal amount of then outstanding Senior Notes may declare the Senior Notes immediately due and payable, except that a default resulting from certain events of bankruptcy or insolvency with respect to the Company, any restricted subsidiary of the Company that is a significant subsidiary or any group of restricted subsidiaries that, taken together, would constitute a significant subsidiary, will automatically cause all outstanding Senior Notes to become due and payable. Unamortized deferred financing costs associated with the Senior Notes were $2.6 million and $3.0 million at March 31, 2022 and December 31, 2021, respectively. These costs are direct deductions from the carrying amount of the Senior Notes and are being amortized through interest expense through the maturity date of the Senior Notes using the effective interest method. Extinguishment of Debt During the three months ended March 31, 2021, the Company repurchased approximately $26.3 million of Senior Notes at a repurchase price of approximately $8.4 million in cash. Deferred financing costs associated with these transactions were $0.3 million for the three months ended March 31, 2021. As a result, the Company recorded a $17.6 million gain on the extinguishment of debt for the three months ended March 31, 2021, which was calculated as the difference between the repurchase price and the carrying amount of the Senior Notes partially offset by the deferred financing costs. The gain on extinguishment of debt is included as a separate line item in the Company’s Condensed Consolidated Statement of Income and Comprehensive Income (Loss) for the three months ended March 31, 2021, respectively. 2018 ABL Credit Facility On October 25, 2018, the Company entered into a credit agreement dated as of October 25, 2018 (the “2018 ABL Credit Agreement”), by and among the Company, Nine Energy Canada, Inc., JP Morgan Chase Bank, N.A., as administrative agent and as an issuing lender, and certain other financial institutions party thereto as lenders and issuing lenders. The 2018 ABL Credit Agreement permits aggregate borrowings of up to $200.0 million, subject to a borrowing base, including a Canadian tranche with a sub-limit of up to $25.0 million and a sub-limit of $50.0 million for letters of credit (the “2018 ABL Credit Facility”). The 2018 ABL Credit Facility will mature on October 25, 2023 or, if earlier, on the date that is 180 days before the scheduled maturity date of the Senior Notes if they have not been redeemed or repurchased by such date. At March 31, 2022, the Company had $20.0 million outstanding borrowings under the 2018 ABL Credit Facility, and its availability under the 2018 ABL Credit Facility was approximately $54.7 million, net of outstanding letters of credit of $0.5 million. The Company borrowed an additional $7.0 million under the 2018 ABL Credit Facility in April 2022. Loans to the Company and its domestic related subsidiaries (the “U.S. Credit Parties”) under the 2018 ABL Credit Facility may be base rate loans or London Interbank Offered Rate (“LIBOR”) loans; and loans to Nine Energy Canada Inc., a corporation organized under the laws of Alberta, Canada, and its restricted subsidiaries (the “Canadian Credit Parties”) under the Canadian tranche may be Canadian Dollar Offered Rate (“CDOR”) loans or Canadian prime rate loans. The applicable margin for base rate loans and Canadian prime rate loans vary from 0.75% to 1.25%, and the applicable margin for LIBOR loans or CDOR loans vary from 1.75% to 2.25%, in each case depending on the Company’s leverage ratio. In addition, a commitment fee of 0.50% per annum will be charged on the average daily unused portion of the revolving commitments. The 2018 ABL Credit Agreement contains various affirmative and negative covenants, including financial reporting requirements and limitations on indebtedness, liens, mergers, consolidations, liquidations and dissolutions, sales of assets, dividends and other restricted payments, investments (including acquisitions), and transactions with affiliates. In addition, the 2018 ABL Credit Agreement contains a minimum fixed charge ratio covenant of 1.00 to 1.00 that is tested quarterly when the availability under the 2018 ABL Credit Facility drops below $18.75 million or a default has occurred until the availability exceeds such threshold for 30 consecutive days and such default is no longer outstanding. The Company was in compliance with all covenants under the 2018 ABL Credit Agreement at March 31, 2022. All of the obligations under the 2018 ABL Credit Facility are secured by first priority perfected security interests (subject to permitted liens) in substantially all of the personal property of U.S. Credit Parties, excluding certain assets. The obligations under the Canadian tranche are further secured by first priority perfected security interests (subject to permitted liens) in substantially all of the personal property of Canadian Credit Parties, excluding certain assets. The 2018 ABL Credit Facility is guaranteed by the U.S. Credit Parties, and the Canadian tranche is further guaranteed by the Canadian Credit Parties and the U.S. Credit Parties. Magnum Promissory Notes On October 25, 2018, pursuant to the terms of a Securities Purchase Agreement, dated October 15, 2018 (as amended on June 7, 2019, the “Magnum Purchase Agreement”), the Company acquired all of the equity interests of Magnum Oil Tools International, LTD, Magnum Oil Tools GP, LLC, and Magnum Oil Tools Canada Ltd. (such entities collectively, “Magnum”). The Magnum Purchase Agreement included the potential for additional future payments in cash of (i) up to 60% of net income (before interest, taxes, and certain gains or losses) for the “E-Set” tools business in 2019 through 2026 and (ii) up to $25.0 million based on sales of certain dissolvable plug products in 2019 (the “Magnum Earnout”). On June 30, 2020, pursuant to an amendment to the Magnum Purchase Agreement to terminate the remaining Magnum Earnout and all obligations related thereto, the Company issued promissory notes with an aggregated principal amount of $2.3 million (the “Magnum Promissory Notes”) to the sellers of Magnum. The Magnum Promissory Notes bear interest at a rate of 6.0% per annum. The principal amount of the Magnum Promissory Notes are paid in equal quarterly installments which began January 1, 2021. The entire unpaid principal amount will be due and payable on the maturity date, which is the earlier of October 1, 2022 or the business day after the date on which the Company sells, transfers, or otherwise disposes of the “E-Set” tools business to an unaffiliated third party, unless such sale, transfer, or disposition is made, directly or indirectly, as part of the sale, transfer, or disposition of the Dissolvable Plugs Business or due to the occurrence of a Change of Control Event (each as defined in the Magnum Purchase Agreement). Other Short-Term Debt In the fourth quarter of 2021, the Company renewed certain insurance policies and financed the premium for its excess policy for $1.5 million. At March 31, 2022, the outstanding balance on this premium was $0.6 million. Fair Value of Debt Instruments The estimated fair value of the Company’s debt obligations as of March 31, 2022 and December 31, 2021 was as follows: March 31, 2022 December 31, 2021 (in thousands) Senior Notes $ 189,002 $ 153,765 2018 ABL Credit Facility $ 20,000 $ 15,000 Magnum Promissory Notes $ 563 $ 1,125 Other short-term debt $ 605 $ 968 The fair value of the Senior Notes, 2018 ABL Credit Facility, the Magnum Promissory Notes, and other short-term debt is classified as Level 2 in the fair value hierarchy. The fair value of the Senior Notes is established based on observable inputs in less active markets. The fair value of the 2018 ABL Credit Facility, the Magnum Promissory Notes, and other short-term debt approximates their carrying value.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company leases office space, yard facilities, and equipment and purchases building maintenance services from entities owned by David Crombie, an executive officer of the Company. Total lease expense and building maintenance expense associated with these entities was $0.2 million for both the three months ended March 31, 2022 and 2021. The Company also purchased $0.7 million and $0.2 million of products and services during the three months ended March 31, 2022 and 2021, respectively, from an entity in which Mr. Crombie is a limited partner. There were outstanding payables due to this entity relating to equipment purchases of $0.3 million and $0.7 million at March 31, 2022 and December 31, 2021, respectively. In addition, the Company leases office space in Corpus Christi and Midland, Texas from an entity affiliated with Warren Lynn Frazier, a beneficial owner of more than 5% of the Company’s stock. In the third quarter of 2020, another entity affiliated with Mr. Frazier began to sub-lease a portion of such space in Corpus Christi, Texas from the Company. Total rental expense associated with this office space, net of sub-leasing income, was $0.3 million for both the three months ended March 31, 2022 and 2021. There were net outstanding payables due to this entity of $0.1 million at March 31, 2022. Additionally, on June 30, 2020, the Company issued the Magnum Promissory Notes to the sellers of Magnum, including Mr. Frazier. At March 31, 2022 and December 31, 2021, the outstanding principal balance payable to Mr. Frazier was $0.6 million and $1.1 million, respectively. For additional information regarding the Magnum Promissory Notes, see Note 8 – Debt Obligations. The Company purchases chemical additives used in cementing from Select Energy Services, Inc. (“Select”). One of the Company’s directors also serves as a director of Select. The Company was billed $0.4 million and $0.3 million for the three months ended March 31, 2022 and 2021, respectively. There were outstanding payables due to Select of $0.1 million at both March 31, 2022 and December 31, 2021. The Company provides products and rentals to National Energy Reunited Corp. (“NESR”), where one of the Company’s directors serves as a director. The Company billed NESR $0.2 million for the three months ended March 31, 2021. During the fourth quarter of 2019, the Company sold coiled tubing equipment for $5.9 million to NESR with payments due in 24 equal monthly installments beginning on January 31, 2020. Total outstanding receivables due to the Company from NESR (inclusive of the equipment sale above) were $0.5 million at December 31, 2021. Ann G. Fox, President and Chief Executive Officer and a director of the Company, is a director of Devon Energy Corporation (“Devon”). The Company generated revenue from Devon of $0.5 million and $1.0 million for the three months ended March 31, 2022 and 2021, respectively. There were outstanding receivables due from Devon of $0.3 million and $0.4 million at March 31, 2022 and December 31, 2021, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company has various claims, lawsuits, and administrative proceedings that are pending or threatened with respect to personal injury, workers’ compensation, contractual matters, and other matters. Although no assurance can be given with respect to the outcome of these claims, lawsuits, or proceedings or the effect such outcomes may have, the Company believes any ultimate liability resulting from the outcome of such claims, lawsuits, or administrative proceedings, to the extent not otherwise provided for or covered by insurance, will not have a material adverse effect on its business, operating results, or financial condition. Self-insurance The Company uses a combination of third-party insurance and self-insurance for health insurance claims. The self-insured liability represents an estimate of the undiscounted ultimate cost of uninsured claims incurred as of the balance sheet date. The estimate is based on an analysis of trailing months of incurred medical claims to project the amount of incurred but not reported claims liability. The estimated liability for self-insured medical claims was $1.0 million at both March 31, 2022 and December 31, 2021 and is included under the caption “Accrued expenses” in the Company’s Condensed Consolidated Balance Sheets. Although the Company does not expect the amounts ultimately paid to differ significantly from the estimates, the self-insurance liability could be affected if future claims experience differs significantly from historical trends and actuarial assumptions. Contingent Liabilities On October 1, 2018, pursuant to the terms and conditions of a Securities Purchase Agreement (the “Frac Tech Purchase Agreement”), the Company acquired Frac Technology AS, a Norwegian private limited company (“Frac Tech”) focused on the development of downhole technology, including a casing flotation tool and a number of patented downhole completion tools. The Frac Tech Purchase Agreement, as amended, includes, among other things, the potential for additional future payments, based on certain Frac Tech revenue metrics through December 31, 2025 (the “Frac Tech Earnout”). The Company’s contingent liability (Level 3) associated with the Frac Tech Earnout at March 31, 2022 and 2021 were as follows: Frac Tech (in thousands) Balance at December 31, 2021 $ 910 Revaluation adjustments 5 Payments (44) Balance at March 31, 2022 $ 871 Frac Tech (in thousands) Balance at December 31, 2020 $ 604 Revaluation adjustments (190) Payments (30) Balance at March 31, 2021 $ 384 All contingent liabilities that relate to contingent consideration are reported at fair value, based on a Monte Carlo simulation model. Significant inputs used in the fair value measurement include estimated gross margin related to forecasted sales of the plugs, term of the agreement, and a risk adjusted discount factor. Contingent liabilities include $0.1 million reported in “Accrued expenses” at both March 31, 2022 and December 31, 2021 and $0.8 million reported in “Other long-term liabilities” at both March 31, 2022 and December 31, 2021 in the Company’s Condensed Consolidated Balance Sheets. The impact of the revaluation adjustments is included in the Company’s Condensed Consolidated Statements of Income and Comprehensive Income (Loss).

Taxes

Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Taxes	Taxes The Company’s provision (benefit) for income taxes included in its Condensed Consolidated Statements of Income and Comprehensive Income (Loss) was as follows: Three Months Ended March 31, 2022 2021 (in thousands, except percentages) Provision for income taxes $ 112 $ 27 Effective tax rate (1.7) % (0.3) % The Company’s tax provision for the three months ended March 31, 2022 was approximately $0.1 million, primarily attributable to state and non-U.S. income taxes.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share is based on the weighted average number of shares outstanding during each period and the exercise of potentially dilutive stock options assumed to be purchased from the proceeds using the average market price of the Company’s stock for each of the periods presented as well as the potentially dilutive restricted stock, restricted stock units, and performance stock units. Basic and diluted earnings (loss) per common share was computed as follows: Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Net Loss Average Shares Outstanding Loss Per Share Net Loss Average Shares Outstanding Loss Per Share (in thousands, except share and per share amounts) Basic $ (6,899) 30,491,976 $ (0.23) $ (8,246) 29,878,426 $ (0.28) Assumed exercise of stock options — — — — — — Unvested restricted stock and stock units — — — — — — Diluted $ (6,899) 30,491,976 $ (0.23) $ (8,246) 29,878,426 $ (0.28) The diluted earnings (loss) per share calculation excludes all stock options, unvested restricted stock, unvested restricted stock units, and unvested performance stock units for the three months ended March 31, 2022 and 2021 because their inclusion would be anti-dilutive given the Company was in a net loss position. The average number of securities that were excluded from diluted earnings (loss) per share that would potentially dilute earnings (loss) per share for the periods in which the Company experienced a net loss were as follows: 2022 2021 Three months ended March 31, 698,218 1,033,743

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Condensed Consolidated Financial Information	Condensed Consolidated Financial Information In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of Nine and its wholly owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future. Such estimates include fair value assumptions used in analyzing long-lived assets for possible impairment, useful lives used in depreciation and amortization expense, recognition of provisions for contingencies, and stock-based compensation fair value. It is at least reasonably possible that the estimates used will change within the next year.
New Accounting Standards	New Accounting Standards In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes: Simplifying the Accounting for Income Taxes , which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles and clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for public businesses for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. As an emerging growth company, the Company is permitted, and plans, to adopt the new standard for fiscal years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. The Company does not expect the standard to have a material impact on its condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ASU 2016-13 requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The amendments in ASU 2016-13 replace the current incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information. ASU 2016-13 is effective for SEC filers, excluding smaller reporting companies, for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. As an emerging growth company, the Company is permitted, and plans, to adopt the new standard for the fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company does not expect the standard to have a material impact on its condensed consolidated financial statements.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Disaggregated revenue for the three months ended March 31, 2022 and 2021 was as follows: Three Months Ended March 31, 2022 2021 (in thousands) Cement $ 45,238 $ 22,922 Tools 28,713 20,009 Wireline 21,403 12,752 Coiled tubing 21,581 10,943 Total revenues $ 116,935 $ 66,626 Three Months Ended March 31, 2022 2021 (in thousands) Service (1) $ 88,222 $ 46,617 Product (1) 28,713 20,009 Total revenues $ 116,935 $ 66,626 (1) The Company recognizes revenues from the sales of products at a point in time and revenues from the sales of services over time.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	Inventories, net as of March 31, 2022 and December 31, 2021 were comprised of the following: March 31, 2022 December 31, 2021 (in thousands) Raw materials $ 33,146 $ 31,153 Work in progress 679 675 Finished goods 21,426 19,323 Inventories 55,251 51,151 Reserve for obsolescence (9,292) (8,971) Inventories, net $ 45,959 $ 42,180

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Components of Intangible Assets, Finite Lived	The gross carrying amount and accumulated amortization of intangible assets as of March 31, 2022 and December 31, 2021 was as follows: March 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Amortization Period (in thousands, except weighted average amortization period information) Customer relationships $ 63,270 $ (46,890) $ 16,380 5.3 Non-compete agreements 6,500 (5,866) 634 1.6 Technology 125,110 (30,620) 94,490 11.4 In-process research and development 1,000 — 1,000 Indefinite Total $ 195,880 $ (83,376) $ 112,504 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Amortization Period (in thousands, except weighted average amortization period information) Customer relationships $ 63,270 $ (45,187) $ 18,083 5.3 Non-compete agreements 6,500 (5,766) 734 2.0 Technology 125,110 (28,519) 96,591 11.7 In-process research and development 1,000 — 1,000 Indefinite Total $ 195,880 $ (79,472) $ 116,408
Schedule of Components of Intangible Assets, Indefinite-Lived	The gross carrying amount and accumulated amortization of intangible assets as of March 31, 2022 and December 31, 2021 was as follows: March 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Amortization Period (in thousands, except weighted average amortization period information) Customer relationships $ 63,270 $ (46,890) $ 16,380 5.3 Non-compete agreements 6,500 (5,866) 634 1.6 Technology 125,110 (30,620) 94,490 11.4 In-process research and development 1,000 — 1,000 Indefinite Total $ 195,880 $ (83,376) $ 112,504 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Amortization Period (in thousands, except weighted average amortization period information) Customer relationships $ 63,270 $ (45,187) $ 18,083 5.3 Non-compete agreements 6,500 (5,766) 734 2.0 Technology 125,110 (28,519) 96,591 11.7 In-process research and development 1,000 — 1,000 Indefinite Total $ 195,880 $ (79,472) $ 116,408
Schedule of Future Estimated Amortization Expense	Future estimated amortization of intangibles is as follows: Year Ending December 31, (in thousands) 2022 $ 9,559 2023 11,516 2024 11,183 2025 11,183 2026 11,082 2027 10,315 Thereafter 46,666 Total $ 111,504

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses as of March 31, 2022 and December 31, 2021 consisted of the following: March 31, 2022 December 31, 2021 (in thousands) Accrued interest $ 11,977 $ 4,980 Accrued compensation and benefits 9,339 6,897 Accrued bonus 2,117 1,125 Accrued legal fees and settlements 740 1,076 Other accrued expenses 5,433 4,441 Accrued expenses $ 29,606 $ 18,519

Debt Obligations (Tables)

Debt Obligations (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Summary of Debt Obligations	The Company’s debt obligations as of March 31, 2022 and December 31, 2021 were as follows: March 31, 2022 December 31, 2021 (in thousands) Senior Notes $ 320,343 $ 320,343 2018 ABL Credit Facility 20,000 15,000 Magnum Promissory Notes 563 1,125 Other short-term debt 605 968 Total debt before deferred financing costs $ 341,511 $ 337,436 Deferred financing costs (2,612) (3,029) Total debt $ 338,899 $ 334,407 Less: Current portion of long-term debt (1,168) (2,093) Long-term debt $ 337,731 $ 332,314
Summary of Fair Value of Debt Obligations	The estimated fair value of the Company’s debt obligations as of March 31, 2022 and December 31, 2021 was as follows: March 31, 2022 December 31, 2021 (in thousands) Senior Notes $ 189,002 $ 153,765 2018 ABL Credit Facility $ 20,000 $ 15,000 Magnum Promissory Notes $ 563 $ 1,125 Other short-term debt $ 605 $ 968

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Contingent Liabilities	The Company’s contingent liability (Level 3) associated with the Frac Tech Earnout at March 31, 2022 and 2021 were as follows: Frac Tech (in thousands) Balance at December 31, 2021 $ 910 Revaluation adjustments 5 Payments (44) Balance at March 31, 2022 $ 871 Frac Tech (in thousands) Balance at December 31, 2020 $ 604 Revaluation adjustments (190) Payments (30) Balance at March 31, 2021 $ 384

Taxes (Tables)

Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of the Provision (Benefit) For Income Taxes	The Company’s provision (benefit) for income taxes included in its Condensed Consolidated Statements of Income and Comprehensive Income (Loss) was as follows: Three Months Ended March 31, 2022 2021 (in thousands, except percentages) Provision for income taxes $ 112 $ 27 Effective tax rate (1.7) % (0.3) %

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Summary of Basic and Diluted Income (Loss) per Common Share	Basic and diluted earnings (loss) per common share was computed as follows: Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Net Loss Average Shares Outstanding Loss Per Share Net Loss Average Shares Outstanding Loss Per Share (in thousands, except share and per share amounts) Basic $ (6,899) 30,491,976 $ (0.23) $ (8,246) 29,878,426 $ (0.28) Assumed exercise of stock options — — — — — — Unvested restricted stock and stock units — — — — — — Diluted $ (6,899) 30,491,976 $ (0.23) $ (8,246) 29,878,426 $ (0.28)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The average number of securities that were excluded from diluted earnings (loss) per share that would potentially dilute earnings (loss) per share for the periods in which the Company experienced a net loss were as follows: 2022 2021 Three months ended March 31, 698,218 1,033,743

Company and Organization (Detai

Company and Organization (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 30, 2022USD ($)	Mar. 31, 2022USD ($)segment	Dec. 31, 2021USD ($)
Line of Credit Facility [Line Items]
Number of reportable segments | segment		1
Cash and cash equivalents		$ 19,941	$ 21,509
Liability position		74,600
Senior Notes
Line of Credit Facility [Line Items]
Debt instrument, periodic payment, interest		14,000
2018 ABL Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Current borrowing capacity		54,700
Proceeds from lines of credit		20,000
2018 ABL Credit Facility | Line of Credit | Subsequent Event
Line of Credit Facility [Line Items]
Proceeds from lines of credit	$ 7,000
2018 ABL Credit Facility | Senior Notes
Line of Credit Facility [Line Items]
Long-term Debt		$ 320,300

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 116,935	$ 66,626
Cement
Disaggregation of Revenue [Line Items]
Revenues	45,238	22,922
Tools
Disaggregation of Revenue [Line Items]
Revenues	28,713	20,009
Wireline
Disaggregation of Revenue [Line Items]
Revenues	21,403	12,752
Coiled tubing
Disaggregation of Revenue [Line Items]
Revenues	21,581	10,943
Service
Disaggregation of Revenue [Line Items]
Revenues	88,222	46,617
Service | Transferred over Time
Disaggregation of Revenue [Line Items]
Revenues	88,222	46,617
Product
Disaggregation of Revenue [Line Items]
Revenues	28,713	20,009
Product | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenues	$ 28,713	$ 20,009

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Reserve for obsolescence	$ 9,292	$ 8,971

Inventories - Schedule of Inven

Inventories - Schedule of Inventories, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 33,146	$ 31,153
Work in progress	679	675
Finished goods	21,426	19,323
Inventories	55,251	51,151
Reserve for obsolescence	(9,292)	(8,971)
Inventories, net	$ 45,959	$ 42,180

Intangible Assets - Schedule of

Intangible Assets - Schedule of Components of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-lived Intangible Assets [Roll Forward]
Accumulated Amortization	$ (83,376)	$ (79,472)
Total	111,504
Intangible assets, gross	195,880	195,880
Intangible assets, net	112,504	116,408
In-process research and development
Finite-lived Intangible Assets [Roll Forward]
Indefinite-lived intangible assets	1,000	1,000
Customer relationships
Finite-lived Intangible Assets [Roll Forward]
Gross Carrying Amount	63,270	63,270
Accumulated Amortization	(46,890)	(45,187)
Total	$ 16,380	$ 18,083
Weighted Average Amortization Period	5 years 3 months 18 days	5 years 3 months 18 days
Non-compete agreements
Finite-lived Intangible Assets [Roll Forward]
Gross Carrying Amount	$ 6,500	$ 6,500
Accumulated Amortization	(5,866)	(5,766)
Total	$ 634	$ 734
Weighted Average Amortization Period	1 year 7 months 6 days	2 years
Technology
Finite-lived Intangible Assets [Roll Forward]
Gross Carrying Amount	$ 125,110	$ 125,110
Accumulated Amortization	(30,620)	(28,519)
Total	$ 94,490	$ 96,591
Weighted Average Amortization Period	11 years 4 months 24 days	11 years 8 months 12 days

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangibles	$ 3,904	$ 4,092

Intangible Assets - Amortizatio

Intangible Assets - Amortization Expense (Details) $ in Thousands	Mar. 31, 2022USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 9,559
2023	11,516
2024	11,183
2025	11,183
2026	11,082
2027	10,315
Thereafter	46,666
Total	$ 111,504

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued interest	$ 11,977	$ 4,980
Accrued compensation and benefits	9,339	6,897
Accrued bonus	2,117	1,125
Accrued legal fees and settlements	740	1,076
Other accrued expenses	5,433	4,441
Accrued expenses	$ 29,606	$ 18,519

Debt Obligations - Summary of D

Debt Obligations - Summary of Debt Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Total debt before deferred financing costs	$ 341,511	$ 337,436
Deferred financing costs	(2,612)	(3,029)
Total debt	338,899	334,407
Less: Current portion of long-term debt	(1,168)	(2,093)
Long-term debt	337,731	332,314
Other short-term debt
Line of Credit Facility [Line Items]
Total debt before deferred financing costs	605	968
Senior Notes
Line of Credit Facility [Line Items]
Total debt before deferred financing costs	320,343	320,343
Deferred financing costs	(2,600)	(3,000)
Line of Credit | 2018 ABL Credit Facility
Line of Credit Facility [Line Items]
Total debt before deferred financing costs	20,000	15,000
Line of Credit | Magnum Promissory Notes
Line of Credit Facility [Line Items]
Total debt before deferred financing costs	$ 563	$ 1,125

Debt Obligations - Narrative (D

Debt Obligations - Narrative (Details)	Oct. 25, 2018USD ($)day	Apr. 30, 2022USD ($)	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Mar. 31, 2021USD ($)	Jun. 30, 2020USD ($)
Debt Instrument [Line Items]
Unamortized deferred finance costs			$ 2,612,000	$ 3,029,000
Extinguishment of debt			0		$ 17,618,000
Debt covenant, fixed charge covenant, ratio	1
Financing agreement, insurance premium				1,500,000
Outstanding premium, amount			600,000
Beneficial Owner
Debt Instrument [Line Items]
Notes payable, related parties			600,000	1,100,000
2018 IPO Term Loan Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount			$ 500,000
Magnum Promissory Notes | Magnum Acquisition
Debt Instrument [Line Items]
Percentage of potential future payment of net income in 2019 through 2026	60.00%
Sale on dissolvable plug products in 2019	$ 25,000,000
Magnum Promissory Notes | Magnum Acquisition | Beneficial Owner
Debt Instrument [Line Items]
Notes payable, related parties						$ 2,300,000
Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 400,000,000
Debt instrument, annual interest rate	8.75%
Debt instrument, redemption price, percentage of principal, default trigger			25.00%
Unamortized deferred finance costs			$ 2,600,000	$ 3,000,000
Repurchased debt amount					26,300,000
Repurchase price					8,400,000
Payments of debt issuance costs					300,000
Extinguishment of debt					$ 17,600,000
Line of Credit | 2018 ABL Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 200,000,000
Proceeds from lines of credit			20,000,000
Current borrowing capacity			$ 54,700,000
Commitment fee percentage	0.50%
Maximum remaining borrowing capacity, that does not require quarterly testing	$ 18,750,000
Debt instrument, convertible, threshold consecutive trading days | day	30
Line of Credit | 2018 ABL Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Proceeds from lines of credit		$ 7,000,000
Line of Credit | 2018 ABL Credit Facility | Canadian Tranche
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 25,000,000
Line of Credit | 2018 ABL Credit Facility | Canadian Tranche | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	0.75%
Line of Credit | 2018 ABL Credit Facility | Canadian Tranche | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	1.25%
Line of Credit | 2018 ABL Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000,000
Line of Credit | 2018 ABL Credit Facility | Letter of Credit | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	1.75%
Line of Credit | 2018 ABL Credit Facility | Letter of Credit | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	2.25%
Magnum Promissory Notes
Debt Instrument [Line Items]
Debt instrument, annual interest rate						6.00%

Debt Obligations - Fair Value (

Debt Obligations - Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other short-term debt
Debt Instrument [Line Items]
Fair value of debt instruments	$ 605	$ 968
Senior Notes
Debt Instrument [Line Items]
Fair value of debt instruments	189,002	153,765
Line of Credit | 2018 ABL Credit Facility
Debt Instrument [Line Items]
Fair value of debt instruments	20,000	15,000
Line of Credit | Magnum Promissory Notes
Debt Instrument [Line Items]
Fair value of debt instruments	$ 563	$ 1,125

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2019	Dec. 31, 2021
Beneficial Owner
Related Party Transaction [Line Items]
Payables due to entities	$ 0.1
Notes payable, related parties	0.6			$ 1.1
Select Energy Services, Inc.
Related Party Transaction [Line Items]
Costs and expenses	0.4	$ 0.3
Accounts payable				0.1
National Energy Services Reunited
Related Party Transaction [Line Items]
Costs and expenses		0.2
Accounts receivable				0.5
National Energy Services Reunited | Coiled tubing
Related Party Transaction [Line Items]
Revenue from related parties			$ 5.9
Monthly installments			24 months
Affiliated Entity
Related Party Transaction [Line Items]
Revenue from related parties	0.5	1
Due from related parties	0.3			0.4
Mr. Crombie
Related Party Transaction [Line Items]
Lease and building maintenance expense	0.2	0.2
Equipment purchased	$ 0.7	0.2
Percent of company stock owned (more than)	5.00%
Rental expense	$ 0.3	$ 0.3
Mr. Crombie | Equipment
Related Party Transaction [Line Items]
Payables due to entities	$ 0.3			$ 0.7

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Accrued Expenses
Loss Contingencies [Line Items]
Loss contingency accrual	$ 0.1	$ 0.1
Other Long-Term Liabilities
Loss Contingencies [Line Items]
Loss contingency accrual	0.8	0.8
Scorpion | Accrued Expenses
Loss Contingencies [Line Items]
Estimated liability for self-insured medical claims	$ 1	$ 1

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Contingent Liabilities (Details) - Frac Tech - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Loss Contingency Accrual [Roll Forward]
Beginning balance	$ 910	$ 604
Revaluation adjustments	5	(190)
Payments	(44)	(30)
Ending balance	$ 871	$ 384

Taxes - Schedule of Components

Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 112	$ 27
Effective tax rate	(1.70%)	(0.30%)

Taxes - Narrative (Details)

Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 112	$ 27

Earnings (Loss) Per Share - Com

Earnings (Loss) Per Share - Computation of Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Loss	$ (6,899)	$ (8,246)
Average shares outstanding, basic (in shares)	30,491,976	29,878,426
Loss per share, basic (in usd per share)	$ (0.23)	$ (0.28)
Assumed exercise of stock options (in shares)	0	0
Unvested restricted stock and stock units (in shares)	0	0
Average shares outstanding, diluted (in shares)	30,491,976	29,878,426
Loss per share, diluted (in usd per share)	$ (0.23)	$ (0.28)

Earnings (Loss) Per Share - Ant

Earnings (Loss) Per Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Options To Purchase Shares Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	698,218	1,033,743