Flotek Industries (FTK) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	FLOTEK INDUSTRIES INC/CN/
Entity Central Index Key	0000928054
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		57,463,627

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 96,753	$ 3,044
Restricted cash	660	0
Accounts receivable, net of allowance for doubtful accounts of $1,465 and $1,190 at March 31, 2019 and December 31, 2018, respectively	37,178	37,047
Inventories, net	34,358	27,289
Income taxes receivable	3,351	3,161
Assets held for sale	0	118,470
Other current assets	20,373	5,771
Total current assets	192,673	194,782
Property and equipment, net	42,989	45,485
Operating lease right-of-use assets	18,202
Deferred tax assets, net	599	18,663
Other intangible assets, net	24,978	26,827
Other long-term assets	3,351	126
TOTAL ASSETS	282,792	285,883
Current liabilities:
Accounts payable	13,798	15,011
Accrued liabilities	12,518	10,335
Income taxes payable	2,054	0
Interest payable	0	8
Liabilities held for sale	0	9,174
Current portion of lease liabilities	713
Long-term debt, classified as current	0	49,731
Total current liabilities	29,083	84,259
Operating lease liabilities	18,416
Finance lease liabilities	130
Deferred tax liabilities, net	116	0
Total liabilities	47,745	84,259
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.0001 par value, 80,000,000 shares authorized; 62,198,912 shares issued and 57,462,355 shares outstanding at March 31, 2019; 62,162,875 shares issued and 57,342,279 shares outstanding at December 31, 2018	6	6
Additional paid-in capital	344,004	343,536
Accumulated other comprehensive income (loss)	(1,022)	(1,116)
Retained earnings (accumulated deficit)	(74,573)	(107,565)
Treasury stock, at cost; 3,845,173 and 3,770,224 shares at March 31, 2019 and December 31, 2018, respectively	(33,368)	(33,237)
Total stockholders’ equity	235,047	201,624
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 282,792	$ 285,883

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,465	$ 1,190
Preferred stock, at par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	80,000,000	80,000,000
Common stock, shares issued (in shares)	62,198,912	62,162,875
Common stock, shares outstanding (in shares)	57,462,355	57,342,279
Treasury stock, shares (in shares)	3,845,173	3,770,224

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenue	$ 43,256	$ 41,069
Costs and expenses:
Operating expenses (excluding depreciation and amortization)	44,599	36,655
Corporate general and administrative	7,281	8,493
Depreciation and amortization	2,260	2,333
Research and development	2,285	2,754
Loss on disposal of long-lived assets	1,097	57
Total costs and expenses	57,522	50,292
Loss from operations	(14,266)	(9,223)
Other (expense) income:
Interest expense	(1,998)	(516)
Other income (expense), net	110	(111)
Total other expense	(1,888)	(627)
Loss before income taxes	(16,154)	(9,850)
Income tax benefit	774	322
Loss from continuing operations	(15,380)	(9,528)
Income from discontinued operations, net of tax	48,372	9,595
Net income	$ 32,992	$ 67
Basic earnings (loss) per common share:
Continuing operations (in dollars per share)	$ (0.26)	$ (0.17)
Discontinued operations, net of tax (in dollars per share)	0.83	0.17
Basic earnings (loss) per common share (in dollars per share)	0.57	0
Diluted earnings (loss) per common share:
Continuing operations (in dollars per share)	(0.26)	(0.17)
Discontinued operations, net of tax (in dollars per share)	0.83	0.17
Diluted earnings (loss) per common share (in dollars per share)	$ 0.57	$ 0
Weighted average common shares:
Weighted average common shares used in computing basic earnings (loss) per common share (in shares)	58,373	57,259
Weighted average common shares used in computing diluted earnings (loss) per common share (in shares)	58,373	57,259

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Loss from continuing operations	$ (15,380)	$ (9,528)
Income from discontinued operations, net of tax	48,372	9,595
Net income	32,992	67
Other comprehensive income (loss):
Foreign currency translation adjustment	94	(179)
Comprehensive income (loss)	$ 33,086	$ (112)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 32,992	$ 67
Income from discontinued operations, net of tax	48,372	9,595
Loss from continuing operations	(15,380)	(9,528)
Adjustments to reconcile loss from continuing operations to net cash used in by operating activities:
Depreciation and amortization	2,260	2,333
Amortization of deferred financing costs	1,428	96
Provision for doubtful accounts	366	(43)
Provision for excess and obsolete inventory	0	1,305
Loss on disposal of long-lived assets	1,097	57
Non-cash lease expense	230	0
Stock compensation expense	456	1,899
Deferred income tax provision (benefit)	17,860	(7,662)
Reduction in tax benefit related to share-based awards	24	3
Changes in current assets and liabilities:
Restricted cash	(660)	0
Accounts receivable, net	(474)	1,715
Inventories, net	(7,031)	5,729
Income taxes receivable	(247)	(1)
Other current assets	(18,661)	331
Accounts payable	(1,216)	(781)
Accrued liabilities	(8,193)	(7,599)
Income taxes payable	2,428	0
Interest payable	(8)	(37)
Net cash used in operating activities	(25,721)	(12,183)
Cash flows from investing activities:
Capital expenditures	(461)	(1,377)
Proceeds from sales of business	169,722	0
Proceeds from sale of assets	132	80
Purchase of patents and other intangible assets	(103)	(117)
Net cash provided by (used in) investing activities	169,290	(1,414)
Cash flows from financing activities:
Borrowings on revolving credit facility	42,984	76,266
Repayments on revolving credit facility	(92,715)	(64,475)
Debt issuance costs	0	(8)
Purchase of treasury stock related to share-based awards	(131)	(3)
Proceeds from sale of common stock	0	146
Net cash provided by (used in) financing activities	(49,862)	11,926
Discontinued operations:
Net cash (used in) provided by operating activities	(337)	430
Net cash provided by (used in) investing activities	337	(430)
Net cash flows provided by discontinued operations	0	0
Effect of changes in exchange rates on cash and cash equivalents	2	(48)
Net increase (decrease) in cash and cash equivalents	93,709	(1,719)
Cash and cash equivalents at the beginning of period	3,044	4,584
Cash and cash equivalents at the end of period	$ 96,753	$ 2,865

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Accumulated Deficit)	Non-controlling Interests
Beginning balance (in shares) at Dec. 31, 2017		60,623,000	3,621,000
Beginning balance at Dec. 31, 2017	$ 265,258	$ 6	$ (33,064)	$ 336,067	$ (884)	$ (37,225)	$ 358
Increase (Decrease) in Equity [Roll Forward]
Net income	67					67
Foreign currency translation adjustment	(179)				(179)
Stock issued under employee stock purchase plan (in shares)			(28,000)
Stock issued under employee stock purchase plan	146			146
Restricted stock granted (in shares)		538,000
Restricted stock forfeited (in shares)			5,000
Treasury stock purchased (in shares)			1,000
Treasury stock purchased	(3)		$ (3)
Stock compensation expense	1,924			1,924
Ending balance (in shares) at Mar. 31, 2018		61,161,000	3,599,000
Ending balance at Mar. 31, 2018	267,213	$ 6	$ (33,067)	338,137	(1,063)	(37,158)	358
Beginning balance (in shares) at Dec. 31, 2018		62,163,000	3,770,000
Beginning balance at Dec. 31, 2018	201,624	$ 6	$ (33,237)	343,536	(1,116)	(107,565)	0
Increase (Decrease) in Equity [Roll Forward]
Net income	32,992					32,992
Foreign currency translation adjustment	$ 94				94
Restricted stock granted (in shares)	36,037	36,000
Restricted stock forfeited (in shares)			34,000
Treasury stock purchased (in shares)			41,000
Treasury stock purchased	$ (131)		$ (131)
Stock compensation expense	468			468
Ending balance (in shares) at Mar. 31, 2019		62,199,000	3,845,000
Ending balance at Mar. 31, 2019	$ 235,047	$ 6	$ (33,368)	$ 344,004	$ (1,022)	$ (74,573)	$ 0

Organization and Significant Ac

Organization and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Significant Accounting Policies	Organization and Significant Accounting Policies Organization and Nature of Operations Flotek Industries, Inc. (“Flotek” or the “Company”) is an international energy chemistry technology-driven company that develops and supplies chemistry and services to the oil and gas industry. Flotek also supplied high value compounds to companies that make food and beverages, cleaning products, cosmetics, and other products that are sold in consumer and industrial markets, classified as discontinued operations at December 31, 2018. The Company’s oilfield business includes specialty chemistries and logistics which enable its customers to pursue improved efficiencies in the drilling and completion of their wells. The Company also provides automated bulk material handling, loading facilities, and blending capabilities. In the segment reported as discontinued operations at December 31, 2018, the Company processed citrus oil to produce (1) high value compounds used as additives by companies in the flavors and fragrances markets and (2) environmentally friendly chemistries for use in numerous industries around the world, including the oil and gas (“O&G”) industry. Flotek operates in over 15 domestic and international markets. Customers include major integrated O&G companies, oilfield services companies, independent O&G companies, pressure-pumping service companies, national and state-owned oil companies, and international supply chain management companies. The Company also served customers who purchase non-energy-related citrus oil and related products, including household and commercial cleaning product companies, fragrance and cosmetic companies, and food manufacturing companies, reported as discontinued operations at December 31, 2018. Flotek was initially incorporated under the laws of the Province of British Columbia on May 17, 1985. On October 23, 2001, Flotek changed its corporate domicile to the state of Delaware. Basis of Presentation The accompanying Unaudited Condensed Consolidated Financial Statements and accompanying footnotes (collectively the “Financial Statements”) reflect all adjustments, in the opinion of management, necessary for fair presentation of the financial condition and results of operations for the periods presented. All such adjustments are normal and recurring in nature. The Financial Statements, including selected notes, have been prepared in accordance with applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting and do not include all information and disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for comprehensive financial statement reporting. These interim Financial Statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (“Annual Report”). A copy of the Annual Report is available on the SEC’s website, www.sec.gov , under the Company’s ticker symbol (“FTK”) or on Flotek’s website, www.flotekind.com . The results of operations for the three months ended March 31, 2019 are not necessarily indicative of the results to be expected for the year ending December 31, 2019 . During the fourth quarter of 2018, the Company classified the Consumer and Industrial Chemistry Technologies segment as held for sale based on management’s intention to sell this business. The Company’s historical financial statements have been revised to present the operating results of the Consumer and Industrial Chemistry Technologies segment as discontinued operations. The results of operations of this segment are presented as “Income from discontinued operations” in the statement of operations and the related cash flows of this segment has been reclassified to discontinued operations for all periods presented. The assets and liabilities of the Consumer and Industrial Chemistry Technologies segment have been reclassified to “Assets held for sale” and “Liabilities held for sale”, respectively, in the consolidated balance sheet for all periods presented. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company does not have investments in any unconsolidated subsidiaries. Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current portion of lease liabilities, and operating lease liabilities in the consolidated balance sheets. Finance leases are included in property and equipment, current portion of lease liabilities , and finance lease liabilities in the consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As the leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company uses the implicit rate when readily determinable. The lease term is modified to reflect options to extend or terminate the lease when it is reasonably certain the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has some lease agreements that contain both lease and non-lease components. The Company has elected to account for such leases as having a single lease component. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results could differ from these estimates. Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassifications did not impact net loss

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Application of New Accounting Standards Effective January 1, 2019, the Company adopted the accounting guidance in Accounting Standards Update (“ASU”) No. 2016-02, “ Leases .” This standard (ASC 842) requires the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases under previous U.S. GAAP (ASC 840). The Company adopted ASC 842 using the optional transition method. Consequently, the Company’s reporting for the comparative periods presented prior to 2019 in the financial statements will continue to be in accordance with ASC 840. Upon adoption, the Company recorded operating lease ROU assets and corresponding operating lease liabilities, net of deferred rent, of approximately $18.4 million , representing the present value of future lease payments under operating leases with terms of greater than twelve months. The adoption of this standard did not have a material impact on the consolidated statements of operations or cash flows. Refer to Note 4 — “Leases” for further information surrounding adoption of this new standard. Effective January 1, 2019, the Company adopted ASU No. 2018-02, “ Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income .” This standard allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the 2017 Tax Cuts and Jobs Act. Implementation of this standard did not have a material effect on the consolidated financial statements and related disclosures. Effective January 1, 2019, the Company adopted ASU No. 2018-07, “ Improvements to Nonemployee Share-Based Payment Accounting .” This standard expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. Implementation of this standard did not have a material effect on the consolidated financial statements and related disclosures. New Accounting Requirements and Disclosures In June 2016, the FASB issued ASU No. 2016-13, “ Measurement of Credit Losses on Financial Instruments .” This standard replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The pronouncement is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption for the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact the pronouncement will have on the consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-13, “ Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations During the fourth quarter of 2018, the Company initiated and began executing a strategic plan to sell its Consumer and Industrial Chemistry Technologies (“CICT”) segment. An investment banking advisory services firm was engaged and actively marketed this segment. The Company met all of the criteria to classify the CICT segment’s assets and liabilities as held for sale in the fourth quarter 2018. The Company has classified the assets, liabilities, and results of operations for this segment as “Discontinued Operations” for all periods presented. Disposal of the CICT reporting segment represented a strategic shift that will have a major effect on the Company’s operations and financial results. On January 10, 2019 , the Company entered into a Share Purchase Agreement with Archer-Daniels-Midland Company (“ADM”) for the sale of all of the shares representing membership interests in its wholly owned subsidiary, Florida Chemical Company, LLC, which represented the CICT segment. Effective February 28, 2019 , the Company completed the sale of the CICT segment to ADM for $175.0 million in cash consideration, with $4.4 million temporarily held in escrow by ADM for post-closing working capital adjustments for up to 90 days and $13.1 million temporarily held in escrow to satisfy potential indemnification claims by ADM with anticipated releases at 6 months , 12 months , and 15 months . Concurrent with the closing of the sale of the CICT segment, the Company retained $11.1 million of historical inventory previously held by the CICT segment. In addition, the Company executed a long-term supply agreement for terpene product through September 2023, with an option to extend for an additional year. This agreement secures the Company’s access to a sufficient supply of terpene and includes a minimum annual purchase requirement during the term of the agreement. The following summarized financial information has been segregated from continuing operations and reported as Discontinued Operations for the three months ended March 31, 2019 and 2018 (in thousands): Three months ended March 31, 2019 2018 Consumer and Industrial Chemistry Technologies Revenue $ 11,031 $ 19,447 Operating expenses (11,572 ) (16,170 ) Depreciation and amortization — (669 ) Research and development (69 ) (170 ) (Loss) income from operations (610 ) 2,438 Other income (expense) 35 (174 ) Gain on sale of business 69,793 — Income before income taxes 69,218 2,264 Income tax ( expense) benefit (20,846 ) 7,331 Net income from discontinued operations $ 48,372 $ 9,595 The assets and liabilities held for sale on the Consolidated Balance Sheets as of March 31, 2019 and December 31, 2018 , are as follows (in thousands): Consumer and Industrial Chemistry Technologies March 31, 2019 December 31, 2018 Assets: Accounts receivable, net $ — $ 10,547 Inventories, net — 52,069 Other current assets — 446 Property and equipment, net — 15,899 Goodwill — 19,480 Other intangible assets, net — 20,029 Assets held for sale — 118,470 Valuation allowance — — Assets held for sale, net $ — $ 118,470 Liabilities: Accounts payable $ — $ 8,883 Accrued liabilities — 291 Liabilities held for sale $ — $ 9,174

Leases (Notes)

Leases (Notes)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	Leases Effective January 1, 2019, the Company adopted ASC 842 using the prospective method applied to those leases which were not completed as of December 31, 2018. The Company has operating leases for corporate offices, research and development facilities, warehouses, and sales offices. The leases have remaining lease terms of 1 year to 19 years , some of which include options to extend the leases for up to 10 years . In addition, the Company has finance leases for equipment. These leases commenced on March 31, 2019 and have remaining lease terms of 64 months . There have been no payments or any expense recognized in connection with these finance leases as of March 31, 2019. Upon adoption, the Company recorded operating lease ROU assets and corresponding operating lease liabilities, net of deferred rent, of approximately $18.4 million , representing the present value of future lease payments under operating leases with terms of greater than twelve months. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The components of lease expense and supplemental cash flow information are as follows (in thousands): Three months ended March 31, 2019 Operating lease expense $ 653 Short-term lease expense 43 Total lease expense $ 696 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 582 Maturities of lease liabilities are as follows (in thousands): Year ending December 31, Operating Leases Finance Leases 2019 (excluding the three months ended March 31, 2019) $ 1,756 $ 29 2020 2,346 39 2021 2,305 39 2022 2,269 39 2023 2,178 39 Thereafter 25,859 22 Total lease payments $ 36,713 $ 207 Less: Interest (17,621 ) (40 ) Present value of lease liabilities $ 19,092 $ 167 Supplemental balance sheet information related to leases is as follows (in thousands): March 31, 2019 Operating Leases Operating lease right-of-use assets $ 18,202 Current portion of lease liabilities $ 676 Operating lease liabilities 18,416 Total operating lease liabilities $ 19,092 Finance Leases Property and equipment $ 210 Accumulated depreciation — Property and equipment, net $ 210 Current portion of lease liabilities $ 37 Finance lease liabilities 130 Total finance lease liabilities $ 167 Weighted Average Remaining Lease Term Operating leases 15.7 years Finance leases 5.3 years Weighted Average Discount Rate Operating leases 8.9 % Finance leases 8.5 %
Leases	Leases Effective January 1, 2019, the Company adopted ASC 842 using the prospective method applied to those leases which were not completed as of December 31, 2018. The Company has operating leases for corporate offices, research and development facilities, warehouses, and sales offices. The leases have remaining lease terms of 1 year to 19 years , some of which include options to extend the leases for up to 10 years . In addition, the Company has finance leases for equipment. These leases commenced on March 31, 2019 and have remaining lease terms of 64 months . There have been no payments or any expense recognized in connection with these finance leases as of March 31, 2019. Upon adoption, the Company recorded operating lease ROU assets and corresponding operating lease liabilities, net of deferred rent, of approximately $18.4 million , representing the present value of future lease payments under operating leases with terms of greater than twelve months. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The components of lease expense and supplemental cash flow information are as follows (in thousands): Three months ended March 31, 2019 Operating lease expense $ 653 Short-term lease expense 43 Total lease expense $ 696 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 582 Maturities of lease liabilities are as follows (in thousands): Year ending December 31, Operating Leases Finance Leases 2019 (excluding the three months ended March 31, 2019) $ 1,756 $ 29 2020 2,346 39 2021 2,305 39 2022 2,269 39 2023 2,178 39 Thereafter 25,859 22 Total lease payments $ 36,713 $ 207 Less: Interest (17,621 ) (40 ) Present value of lease liabilities $ 19,092 $ 167 Supplemental balance sheet information related to leases is as follows (in thousands): March 31, 2019 Operating Leases Operating lease right-of-use assets $ 18,202 Current portion of lease liabilities $ 676 Operating lease liabilities 18,416 Total operating lease liabilities $ 19,092 Finance Leases Property and equipment $ 210 Accumulated depreciation — Property and equipment, net $ 210 Current portion of lease liabilities $ 37 Finance lease liabilities 130 Total finance lease liabilities $ 167 Weighted Average Remaining Lease Term Operating leases 15.7 years Finance leases 5.3 years Weighted Average Discount Rate Operating leases 8.9 % Finance leases 8.5 %

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Revenues are recognized when control of the promised goods or services is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. In recognizing revenue for products and services, the Company determines the transaction price of purchase orders or contracts with customers, which may consist of fixed and variable consideration. Determining the transaction price may require significant judgment by management, which includes identifying performance obligations, estimating variable consideration to include in the transaction price, and determining whether promised goods or services are distinct within the context of the contract. Variable consideration typically consists of product returns and is estimated based on the amount of consideration the Company expects to receive. Revenue accruals are recorded on an ongoing basis to reflect updated variable consideration information. For certain contracts, the Company recognizes revenue under the percentage-of-completion method of accounting, measured by the percentage of “costs incurred to date” to the “total estimated costs of completion.” This percentage is applied to the “total estimated revenue at completion” to calculate proportionate revenue earned to date. For the three months ended March 31, 2019 and 2018 , the percentage-of-completion revenue accounted for less than 0.1% of total revenue during the respective time periods. This resulted in immaterial unfulfilled performance obligations and immaterial contract assets and/or liabilities, for which the Company did not record adjustments to opening retained earnings as of December 31, 2015 or for any periods previously presented. The vast majority of the Company’s products are sold at a point in time and service contracts are short-term in nature. Sales are billed on a monthly basis with payment terms customarily 30 days from invoice receipt. In addition, sales taxes are excluded from revenues. Disaggregation of Revenue The Company has disaggregated revenues by product sales (point-in-time revenue recognition) and service revenue (over-time revenue recognition), where product sales accounted for over 95% of total revenue for the three months ended March 31, 2019 and 2018 . The Company differentiates revenue and operating expenses (excluding depreciation and amortization) based on whether the source of revenue is attributable to products or services. Revenue and operating expenses (excluding depreciation and amortization) disaggregated by revenue source are as follows (in thousands): Three months ended March 31, 2019 2018 Revenue: Products $ 42,072 $ 39,929 Services 1,184 1,140 $ 43,256 $ 41,069 Operating expenses (excluding depreciation and amortization): Products $ 44,078 $ 35,181 Services 521 1,474 $ 44,599 $ 36,655 Arrangements with Multiple Performance Obligations The Company’s contracts with customers may include multiple performance obligations. For such arrangements, the total transaction price is allocated to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. Standalone selling prices are generally determined based on the prices charged to customers (“observable standalone price”) or an expected cost plus a margin approach. For combined products and services within a contract, the Company accounts for individual products and services separately if they are distinct (i.e. if a product or service is separately identifiable from other items in the contract and if a customer can benefit from it on its own or with other resources that are readily available to the customer). The consideration is allocated between separate products and services within a contract based on the prices at the observable standalone price. For items that are not sold separately, the expected cost plus a margin approach is used to estimate the standalone selling price of each performance obligation. Contract Balances

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Supplemental cash flow information is as follows (in thousands): Three months ended March 31, 2019 2018 Supplemental cash payment information: Interest paid $ 578 $ 457 Income taxes paid, net of refunds 22 71

Inventories

Inventories	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are as follows (in thousands): March 31, 2019 December 31, 2018 Raw materials $ 19,636 $ 10,608 Work-in-process — — Finished goods 16,138 18,798 Inventories 35,774 29,406 Less reserve for excess and obsolete inventory (1,416 ) (2,117 ) Inventories, net $ 34,358 $ 27,289

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment are as follows (in thousands): March 31, 2019 December 31, 2018 Land $ 4,372 $ 4,372 Buildings and leasehold improvements 37,742 37,719 Machinery and equipment 26,601 26,995 Fixed assets in progress 888 581 Furniture and fixtures 1,574 1,573 Transportation equipment 1,665 1,852 Computer equipment and software 5,401 9,370 Property and equipment 78,243 82,462 Less accumulated depreciation (35,254 ) (36,977 ) Property and equipment, net $ 42,989 $ 45,485 Depreciation expense totaled $1.8 million and $2.0 million for the three months ended March 31, 2019 and 2018 , respectively. During the three months ended March 31, 2019 and 2018 , no

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The Company has no reporting units which had a goodwill balance at December 31, 2018 , and there were no acquisitions during the three months ended March 31, 2019

Other Intangible Assets

Other Intangible Assets	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets	Other Intangible Assets Other intangible assets are as follows (in thousands): March 31, 2019 December 31, 2018 Cost Accumulated Amortization Cost Accumulated Amortization Finite-lived intangible assets: Patents and technology $ 18,941 $ 6,955 $ 18,884 $ 6,689 Customer lists 15,367 5,447 15,367 5,259 Trademarks and brand names 1,473 1,161 1,485 1,149 Total finite-lived intangible assets acquired 35,781 13,563 35,736 13,097 Deferred financing costs — — 1,924 496 Total amortizable intangible assets 35,781 $ 13,563 37,660 $ 13,593 Indefinite-lived intangible assets: Trademarks and brand names 2,760 2,760 Total other intangible assets $ 38,541 $ 40,420 Carrying value: Other intangible assets, net $ 24,978 $ 26,827 Finite-lived intangible assets acquired are amortized on a straight-line basis over two to 20 years . Amortization of finite-lived intangible assets acquired totaled $0.5 million and $0.3 million for the three months ended March 31, 2019 and 2018 , respectively. Amortization of deferred financing costs totaled $1.4 million and $0.1 million for the three months ended March 31, 2019 and 2018

Long-Term Debt and Credit Facil

Long-Term Debt and Credit Facility	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Long-Term Debt and Credit Facility	Long-Term Debt and Credit Facility Long-term debt is as follows (in thousands): March 31, 2019 December 31, 2018 Long-term debt, classified as current: Borrowings under revolving credit facility $ — $ 49,731 Borrowing under the revolving credit agreement was classified as current debt as a result of the required lockbox arrangement and the subjective acceleration clause. Credit Facility On May 10, 2013 , the Company and certain of its subsidiaries (the “Borrowers”) entered into an Amended and Restated Revolving Credit, Term Loan and Security Agreement (as amended, the “Credit Facility”) with PNC Bank, National Association (“PNC Bank”). The Company could borrow under the Credit Facility for working capital, permitted acquisitions, capital expenditures and other corporate purposes. The Credit Facility was to continue in effect until May 10, 2022 . Under terms of the Credit Facility, the Company had total borrowing availability of $75 million under a revolving credit facility, including a sublimit of $10 million that could be used for letters of credit. On March 1, 2019

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding combined with dilutive common share equivalents outstanding, if the effect is dilutive. Potentially dilutive securities were excluded from the calculation of diluted loss per share for the three months ended March 31, 2019 and 2018 , since including them would have an anti-dilutive effect on loss per share due to the net loss incurred during the periods. Securities convertible into shares of common stock that were not considered in the diluted loss per share calculations were 0.2 million restricted stock units for the three months ended March 31, 2019 , and 0.5 million restricted stock units for the three months ended March 31, 2018 . A reconciliation of the number of shares used for the basic and diluted earnings (loss) per common share computations is as follows (in thousands): Three months ended March 31, 2019 2018 Weighted average common shares outstanding - Basic 58,373 57,259 Assumed conversions: Incremental common shares from stock options — — Incremental common shares from restricted stock units — — Weighted average common shares outstanding - Diluted 58,373 57,259

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company categorizes financial assets and liabilities into the three levels of the fair value hierarchy. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value and bases categorization within the hierarchy on the lowest level of input that is available and significant to the fair value measurement. • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Observable inputs other than Level 1, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3 — Significant unobservable inputs that are supported by little or no market activity or that are based on the reporting entity’s assumptions about the inputs. Fair Value of Other Financial Instruments The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximate fair value due to the short-term nature of these accounts. The Company had total cash of $96.8 million , which consisted of cash equivalents of $49.0 million in a government money market account and cash deposits of $45.0 million in an interest bearing demand deposit account and $2.8 million in operating cash accounts, at March 31, 2019 , and $3.0 million , which consisted of no cash equivalents and cash deposits of $3.0 million in operating cash accounts, at December 31, 2018 . The carrying amount and estimated fair value of the Company’s long-term debt are as follows (in thousands): March 31, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Borrowings under revolving credit facility — — 49,731 49,731 The carrying amount of borrowings under the revolving credit facility approximates its fair value because the interest rates are variable. Assets Measured at Fair Value on a Nonrecurring Basis The Company’s non-financial assets, including property and equipment, goodwill, and other intangible assets are measured at fair value on a non-recurring basis and are subject to fair value adjustment in certain circumstances. No impairments of any of these assets were recognized during the three months ended March 31, 2019 and 2018

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows: Three months ended March 31, 2019 2018 U.S. federal statutory tax rate 21.0 % 21.0 % State income taxes, net of federal benefit 0.5 (7.5 ) Non-U.S. income taxed at different rates 1.3 20.7 Reduction in tax benefit related to stock-based awards (2.3 ) (44.2 ) Non-deductible expenses (0.6 ) (8.3 ) Research and development credit 0.8 24.7 Increase in valuation allowance (15.7 ) (3.1 ) Other (0.2 ) — Effective income tax rate 4.8 % 3.3 % Fluctuations in effective tax rates have historically been impacted by permanent tax differences with no associated income tax impact, changes in state apportionment factors, including the effect on state deferred tax assets and liabilities, and non-U.S. income taxed at different rates. Net deferred tax assets arise due to the recognition of income and expense items for tax purposes, which differ from those used for financial statement purposes. ASC 740, Income Taxes, provides for the recognition of deferred tax assets if realization of such assets is more likely than not. In assessing the need for a valuation allowance in the second quarter of 2018, the Company considered all available objective and verifiable evidence, both positive and negative, including historical levels of pre-tax income (loss) both on a consolidated basis and tax reporting entity basis, legislative developments, and expectations and risks associated with estimates of future pre-tax income. As a result of this analysis, the Company determined that it was more likely than not that it would not realize the benefits of certain deferred tax assets and, therefore, recorded a $15.5 million valuation allowance against the carrying value of net deferred tax assets, except for deferred tax liabilities related to non-amortizable intangible assets and certain state jurisdictions. As all available evidence should be taken into consideration when assessing the need for a valuation allowance, the sale of the CICT segment provided a source of income to support the release of $11.5 million of the valuation allowance which resulted in a deferred tax asset of $18.7 million . As such, the Company reversed this portion of the valuation allowance during the fourth quarter of 2018. The increase in the valuation allowance during the three months ended March 31, 2019, reflects management’s evaluation of deferred tax assets more-likely-than-not to be used after giving consideration to the gain from the sale of the CICT segment and anticipated results of operations. In January 2017, the Internal Revenue Service notified the Company that it will examine the Company’s federal tax returns for the year ended December 31, 2014. The examination included (1) the corporate returns and (2) employment tax matters. The IRS fieldwork has been completed in relation to the corporate returns with no adverse findings. Further discussion of the employment tax matter can be found in Note 18

Common Stock

Common Stock	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Common Stock	Common Stock The Company’s Certificate of Incorporation, as amended November 9, 2009, authorizes the Company to issue up to 80 million shares of common stock, par value $0.0001 per share, and 100,000 shares of one or more series of preferred stock, par value $0.0001 per share. A reconciliation of changes in common shares issued during the three months ended March 31, 2019 is as follows: Shares issued at December 31, 2018 62,162,875 Issued as restricted stock award grants 36,037 Shares issued at March 31, 2019 62,198,912 Stock Repurchase Program In June 2015, the Company’s Board of Directors authorized the repurchase of up to $50 million of the Company’s common stock. Repurchases may be made in the open market or through privately negotiated transactions. Through December 31, 2017 , the Company had repurchased $0.3 million of its common stock under this authorization. During the three months ended March 31, 2019 and 2018 , the Company did no t repurchase any shares of its outstanding common stock under this authorization. At March 31, 2019 , the Company has $49.7 million

Business Segment, Geographic an

Business Segment, Geographic and Major Customer Information	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Business Segment, Geographic and Major Customer Information	Business Segment, Geographic and Major Customer Information Segment Information Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by chief operating decision-makers in deciding how to allocate resources and assess performance. The operations of the Company are categorized into one reportable segment: Energy Chemistry Technologies. • Energy Chemistry Technologies designs, develops, manufactures, packages, distributes, delivers, and markets reservoir-centric fluid systems, including specialty and conventional chemistries, for use in oil and gas (“O&G”) well drilling, cementing, completion, remediation, and stimulation activities designed to maximize recovery in both new and mature fields. Activities in this segment also include construction and management of automated material handling facilities and management of loading facilities and blending operations for oilfield services companies. The Company evaluates performance based upon a variety of criteria. The primary financial measure is segment operating income. Various functions, including certain sales and marketing activities and general and administrative activities, are provided centrally by the corporate office. Costs associated with corporate office functions, other corporate income and expense items, and income taxes are not allocated to the reportable segment. Summarized financial information of the reportable segments is as follows (in thousands): For the three months ended March 31, Energy Chemistry Technologies Corporate and Other Total 2019 Net revenue from external customers $ 43,256 $ — $ 43,256 Income (loss) from operations (5,334 ) (8,932 ) (14,266 ) Depreciation and amortization 1,785 475 2,260 Capital expenditures 461 — 461 2018 Net revenue from external customers $ 41,069 $ — $ 41,069 Income (loss) from operations (166 ) (9,057 ) (9,223 ) Depreciation and amortization 1,769 564 2,333 Capital expenditures 1,011 366 1,377 Assets of the Company by reportable segments are as follows (in thousands): March 31, 2019 December 31, 2018 Energy Chemistry Technologies $ 157,636 $ 139,205 Corporate and Other 125,156 28,208 Total segments 282,792 167,413 Held for sale — 118,470 Total assets $ 282,792 $ 285,883 Geographic Information Revenue by country is based on the location where services are provided and products are used. No individual country other than the United States (“U.S.”) accounted for more than 10% of revenue, except as noted below. Revenue by geographic location is as follows (in thousands): Three months ended March 31, 2019 2018 U.S. $ 38,875 $ 36,710 Other countries 4,381 4,359 Total $ 43,256 $ 41,069 Long-lived assets held in countries other than the U.S. are not considered material to the consolidated financial statements. Major Customers Revenue from major customers, as a percentage of consolidated revenue, is as follows: Three months ended March 31, 2019 2018 Customer A 19.0 % * Customer B 12.6 % * Customer C * 10.7 %

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Class Action Litigation On March 30, 2017, the U.S. District Court for the Southern District of Texas granted the Company’s motion to dismiss the four consolidated putative securities class action lawsuits that were filed in November 2015, against the Company and certain of its officers. The lawsuits were previously consolidated into a single case, and a consolidated amended complaint had been filed. The consolidated amended complaint asserted that the Company made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. The complaint sought an award of damages in an unspecified amount on behalf of a putative class consisting of persons who purchased the Company’s common stock between October 23, 2014 and November 9, 2015, inclusive. The lead plaintiff appealed the District Court’s decision granting the motion to dismiss. On February 7, 2019, a three-judge panel of the United States Court of Appeals for the Fifth Circuit issued a unanimous opinion affirming the District Court’s judgment of dismissal in its entirety. Other Litigation The Company is subject to routine litigation and other claims that arise in the normal course of business. Management is not aware of any pending or threatened lawsuits or proceedings that are expected to have a material effect on the Company’s financial position, results of operations or liquidity. Concentrations and Credit Risk The majority of the Company’s revenue is derived from the oil and gas industry. Customers include major oilfield services companies, major integrated oil and natural gas companies, independent oil and natural gas companies, pressure pumping service companies, and state-owned national oil companies. This concentration of customers in one industry increases credit and business risks.

Related Party Transaction

Related Party Transaction	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transaction	Related Party Transaction In January 2017, the Internal Revenue Service (“IRS”) notified the Company that it was examining the Company’s federal tax returns for the year ended December 31, 2014. As a result of this examination, the IRS informed the Company on May 1, 2019 that certain employment taxes related to the CEO’s compensation were not properly withheld in 2014 and proposed an adjustment. As the Company has a statutory obligation to collect and withhold employment taxes, management reviewed the CEO’s compensation for tax year 2014, as well as tax years 2015 through 2018, in order to estimate the Company’s potential outstanding employment tax liability in connection with this matter. Upon completion of this review, management believes the Company’s total potential exposure in this matter for 2014 through 2018 is approximately $2.4 million . The CEO’s affiliated companies through which he provided his services have agreed to indemnify the Company for such taxes, and the CEO has executed a personal guaranty in favor of Flotek, supporting this indemnification. As such, the Company recorded an accrued liability for the potential exposure to the IRS in the amount of $2.4 million , with a corresponding receivable, recorded in other current assets, from the CEO’s affiliated companies for the same amount relating to such indemnification obligation during the three months ended March 31, 2019

Organization and Significant _2

Organization and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Unaudited Condensed Consolidated Financial Statements and accompanying footnotes (collectively the “Financial Statements”) reflect all adjustments, in the opinion of management, necessary for fair presentation of the financial condition and results of operations for the periods presented. All such adjustments are normal and recurring in nature. The Financial Statements, including selected notes, have been prepared in accordance with applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting and do not include all information and disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for comprehensive financial statement reporting. These interim Financial Statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (“Annual Report”). A copy of the Annual Report is available on the SEC’s website, www.sec.gov , under the Company’s ticker symbol (“FTK”) or on Flotek’s website, www.flotekind.com
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current portion of lease liabilities, and operating lease liabilities in the consolidated balance sheets. Finance leases are included in property and equipment, current portion of lease liabilities , and finance lease liabilities in the consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As the leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company uses the implicit rate when readily determinable. The lease term is modified to reflect options to extend or terminate the lease when it is reasonably certain the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results could differ from these estimates.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassifications did not impact net loss
Recent Accounting Pronouncements	Recent Accounting Pronouncements Application of New Accounting Standards Effective January 1, 2019, the Company adopted the accounting guidance in Accounting Standards Update (“ASU”) No. 2016-02, “ Leases .” This standard (ASC 842) requires the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases under previous U.S. GAAP (ASC 840). The Company adopted ASC 842 using the optional transition method. Consequently, the Company’s reporting for the comparative periods presented prior to 2019 in the financial statements will continue to be in accordance with ASC 840. Upon adoption, the Company recorded operating lease ROU assets and corresponding operating lease liabilities, net of deferred rent, of approximately $18.4 million , representing the present value of future lease payments under operating leases with terms of greater than twelve months. The adoption of this standard did not have a material impact on the consolidated statements of operations or cash flows. Refer to Note 4 — “Leases” for further information surrounding adoption of this new standard. Effective January 1, 2019, the Company adopted ASU No. 2018-02, “ Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income .” This standard allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the 2017 Tax Cuts and Jobs Act. Implementation of this standard did not have a material effect on the consolidated financial statements and related disclosures. Effective January 1, 2019, the Company adopted ASU No. 2018-07, “ Improvements to Nonemployee Share-Based Payment Accounting .” This standard expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. Implementation of this standard did not have a material effect on the consolidated financial statements and related disclosures. New Accounting Requirements and Disclosures In June 2016, the FASB issued ASU No. 2016-13, “ Measurement of Credit Losses on Financial Instruments .” This standard replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The pronouncement is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption for the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact the pronouncement will have on the consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-13, “ Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding combined with dilutive common share equivalents outstanding, if the effect is dilutive. Potentially dilutive securities were excluded from the calculation of diluted loss per share for the three months ended March 31, 2019 and 2018
Fair Value Measurements	Fair Value Measurements Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company categorizes financial assets and liabilities into the three levels of the fair value hierarchy. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value and bases categorization within the hierarchy on the lowest level of input that is available and significant to the fair value measurement. • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Observable inputs other than Level 1, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and •
Segment Information	Segment Information Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by chief operating decision-makers in deciding how to allocate resources and assess performance. The operations of the Company are categorized into one reportable segment: Energy Chemistry Technologies. • Energy Chemistry Technologies designs, develops, manufactures, packages, distributes, delivers, and markets reservoir-centric fluid systems, including specialty and conventional chemistries, for use in oil and gas (“O&G”) well drilling, cementing, completion, remediation, and stimulation activities designed to maximize recovery in both new and mature fields. Activities in this segment also include construction and management of automated material handling facilities and management of loading facilities and blending operations for oilfield services companies.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Summary of financial information has been segregated from continuing operations	The following summarized financial information has been segregated from continuing operations and reported as Discontinued Operations for the three months ended March 31, 2019 and 2018 (in thousands): Three months ended March 31, 2019 2018 Consumer and Industrial Chemistry Technologies Revenue $ 11,031 $ 19,447 Operating expenses (11,572 ) (16,170 ) Depreciation and amortization — (669 ) Research and development (69 ) (170 ) (Loss) income from operations (610 ) 2,438 Other income (expense) 35 (174 ) Gain on sale of business 69,793 — Income before income taxes 69,218 2,264 Income tax ( expense) benefit (20,846 ) 7,331 Net income from discontinued operations $ 48,372 $ 9,595 The assets and liabilities held for sale on the Consolidated Balance Sheets as of March 31, 2019 and December 31, 2018 , are as follows (in thousands): Consumer and Industrial Chemistry Technologies March 31, 2019 December 31, 2018 Assets: Accounts receivable, net $ — $ 10,547 Inventories, net — 52,069 Other current assets — 446 Property and equipment, net — 15,899 Goodwill — 19,480 Other intangible assets, net — 20,029 Assets held for sale — 118,470 Valuation allowance — — Assets held for sale, net $ — $ 118,470 Liabilities: Accounts payable $ — $ 8,883 Accrued liabilities — 291 Liabilities held for sale $ — $ 9,174

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense and supplemental cash flow information are as follows (in thousands): Three months ended March 31, 2019 Operating lease expense $ 653 Short-term lease expense 43 Total lease expense $ 696 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 582
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities are as follows (in thousands): Year ending December 31, Operating Leases Finance Leases 2019 (excluding the three months ended March 31, 2019) $ 1,756 $ 29 2020 2,346 39 2021 2,305 39 2022 2,269 39 2023 2,178 39 Thereafter 25,859 22 Total lease payments $ 36,713 $ 207 Less: Interest (17,621 ) (40 ) Present value of lease liabilities $ 19,092 $ 167
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities are as follows (in thousands): Year ending December 31, Operating Leases Finance Leases 2019 (excluding the three months ended March 31, 2019) $ 1,756 $ 29 2020 2,346 39 2021 2,305 39 2022 2,269 39 2023 2,178 39 Thereafter 25,859 22 Total lease payments $ 36,713 $ 207 Less: Interest (17,621 ) (40 ) Present value of lease liabilities $ 19,092 $ 167
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases is as follows (in thousands): March 31, 2019 Operating Leases Operating lease right-of-use assets $ 18,202 Current portion of lease liabilities $ 676 Operating lease liabilities 18,416 Total operating lease liabilities $ 19,092 Finance Leases Property and equipment $ 210 Accumulated depreciation — Property and equipment, net $ 210 Current portion of lease liabilities $ 37 Finance lease liabilities 130 Total finance lease liabilities $ 167 Weighted Average Remaining Lease Term Operating leases 15.7 years Finance leases 5.3 years Weighted Average Discount Rate Operating leases 8.9 % Finance leases 8.5 %

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of revenue	Revenue and operating expenses (excluding depreciation and amortization) disaggregated by revenue source are as follows (in thousands): Three months ended March 31, 2019 2018 Revenue: Products $ 42,072 $ 39,929 Services 1,184 1,140 $ 43,256 $ 41,069 Operating expenses (excluding depreciation and amortization): Products $ 44,078 $ 35,181 Services 521 1,474 $ 44,599 $ 36,655

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Components of supplemental cash flow information	Supplemental cash flow information is as follows (in thousands): Three months ended March 31, 2019 2018 Supplemental cash payment information: Interest paid $ 578 $ 457 Income taxes paid, net of refunds 22 71

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Schedule of components of inventory	Inventories are as follows (in thousands): March 31, 2019 December 31, 2018 Raw materials $ 19,636 $ 10,608 Work-in-process — — Finished goods 16,138 18,798 Inventories 35,774 29,406 Less reserve for excess and obsolete inventory (1,416 ) (2,117 ) Inventories, net $ 34,358 $ 27,289

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Components of property and equipment	Property and equipment are as follows (in thousands): March 31, 2019 December 31, 2018 Land $ 4,372 $ 4,372 Buildings and leasehold improvements 37,742 37,719 Machinery and equipment 26,601 26,995 Fixed assets in progress 888 581 Furniture and fixtures 1,574 1,573 Transportation equipment 1,665 1,852 Computer equipment and software 5,401 9,370 Property and equipment 78,243 82,462 Less accumulated depreciation (35,254 ) (36,977 ) Property and equipment, net $ 42,989 $ 45,485

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of other intangible assets	Other intangible assets are as follows (in thousands): March 31, 2019 December 31, 2018 Cost Accumulated Amortization Cost Accumulated Amortization Finite-lived intangible assets: Patents and technology $ 18,941 $ 6,955 $ 18,884 $ 6,689 Customer lists 15,367 5,447 15,367 5,259 Trademarks and brand names 1,473 1,161 1,485 1,149 Total finite-lived intangible assets acquired 35,781 13,563 35,736 13,097 Deferred financing costs — — 1,924 496 Total amortizable intangible assets 35,781 $ 13,563 37,660 $ 13,593 Indefinite-lived intangible assets: Trademarks and brand names 2,760 2,760 Total other intangible assets $ 38,541 $ 40,420 Carrying value: Other intangible assets, net $ 24,978 $ 26,827

Long-Term Debt and Credit Fac_2

Long-Term Debt and Credit Facility (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Components of long-term debt	Long-term debt is as follows (in thousands): March 31, 2019 December 31, 2018 Long-term debt, classified as current: Borrowings under revolving credit facility $ — $ 49,731

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of components of basic and diluted earnings per common share	A reconciliation of the number of shares used for the basic and diluted earnings (loss) per common share computations is as follows (in thousands): Three months ended March 31, 2019 2018 Weighted average common shares outstanding - Basic 58,373 57,259 Assumed conversions: Incremental common shares from stock options — — Incremental common shares from restricted stock units — — Weighted average common shares outstanding - Diluted 58,373 57,259

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Carrying value and estimated fair value of long-term debt	The carrying amount and estimated fair value of the Company’s long-term debt are as follows (in thousands): March 31, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Borrowings under revolving credit facility — — 49,731 49,731

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Reconciliation of effective tax rate to the U.S. federal statutory tax rate	A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows: Three months ended March 31, 2019 2018 U.S. federal statutory tax rate 21.0 % 21.0 % State income taxes, net of federal benefit 0.5 (7.5 ) Non-U.S. income taxed at different rates 1.3 20.7 Reduction in tax benefit related to stock-based awards (2.3 ) (44.2 ) Non-deductible expenses (0.6 ) (8.3 ) Research and development credit 0.8 24.7 Increase in valuation allowance (15.7 ) (3.1 ) Other (0.2 ) — Effective income tax rate 4.8 % 3.3 %

Common Stock (Tables)

Common Stock (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of reconciliation of changes in common shares issued	A reconciliation of changes in common shares issued during the three months ended March 31, 2019 is as follows: Shares issued at December 31, 2018 62,162,875 Issued as restricted stock award grants 36,037 Shares issued at March 31, 2019 62,198,912

Business Segment, Geographic _2

Business Segment, Geographic and Major Customer Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Summary of financial information regarding reportable segments	Summarized financial information of the reportable segments is as follows (in thousands): For the three months ended March 31, Energy Chemistry Technologies Corporate and Other Total 2019 Net revenue from external customers $ 43,256 $ — $ 43,256 Income (loss) from operations (5,334 ) (8,932 ) (14,266 ) Depreciation and amortization 1,785 475 2,260 Capital expenditures 461 — 461 2018 Net revenue from external customers $ 41,069 $ — $ 41,069 Income (loss) from operations (166 ) (9,057 ) (9,223 ) Depreciation and amortization 1,769 564 2,333 Capital expenditures 1,011 366 1,377 Assets of the Company by reportable segments are as follows (in thousands): March 31, 2019 December 31, 2018 Energy Chemistry Technologies $ 157,636 $ 139,205 Corporate and Other 125,156 28,208 Total segments 282,792 167,413 Held for sale — 118,470 Total assets $ 282,792 $ 285,883
Schedule of revenue by geographic location	Revenue by geographic location is as follows (in thousands): Three months ended March 31, 2019 2018 U.S. $ 38,875 $ 36,710 Other countries 4,381 4,359 Total $ 43,256 $ 41,069
Schedule of revenue by major customer	Revenue from major customers, as a percentage of consolidated revenue, is as follows: Three months ended March 31, 2019 2018 Customer A 19.0 % * Customer B 12.6 % * Customer C * 10.7 %

Organization and Significant _3

Organization and Significant Accounting Policies (Details)	Mar. 31, 2019country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries Flotek actively markets products and services, over	15

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements - Additional Disclosures (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 18,202
Operating lease liabilities	$ 18,416
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 18,400
Operating lease liabilities		$ 18,400

Discontinued Operations - Addit

Discontinued Operations - Additional Disclosures (Details) - Consumer and Industrial Chemistry Technologies - Discontinued Operations, Disposed of by Sale - USD ($) $ in Millions	Feb. 28, 2019	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration	$ 175
Inventory retained		$ 11.1
Working Adjustment Period 1
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent liabilities remaining	$ 4.4
Contingent liabilities remaining period	90 days
Working Adjustment Period 2-4
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent liabilities remaining	$ 13.1
Working Adjustment Period 2
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent liabilities remaining period	6 months
Working Adjustment Period 3
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent liabilities remaining period	12 months
Working Adjustment Period 4
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent liabilities remaining period	15 months

Discontinued Operations - Summa

Discontinued Operations - Summary Of Financial Information That Has Been Segregated From Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Discontinued Operations:
Net income from discontinued operations	$ 48,372	$ 9,595
Assets:
Assets held for sale, net	0		$ 118,470
Discontinued Operations, Held-for-sale | Consumer and Industrial Chemistry Technologies
Discontinued Operations:
Revenue	11,031	19,447
Operating expenses	(11,572)	(16,170)
Depreciation and amortization	0	(669)
Research and development	(69)	(170)
(Loss) income from operations	(610)	2,438
Other income (expense)	35	(174)
Gain on sale of business	69,793	0
Income before income taxes	69,218	2,264
Income tax (expense) benefit	(20,846)	7,331
Net income from discontinued operations	48,372	$ 9,595
Assets:
Accounts receivable, net	0		10,547
Inventories, net	0		52,069
Other current assets	0		446
Property and equipment, net	0		15,899
Goodwill	0		19,480
Other intangible assets, net	0		20,029
Assets held for sale, net	0		118,470
Valuation allowance	0		0
Assets held for sale, net	0		118,470
Liabilities:
Accounts payable	0		8,883
Accrued liabilities	0		291
Liabilities held for sale	$ 0		$ 9,174

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, renewal term	10 years
Finance lease, remaining lease term	64 months
Operating lease liabilities	$ 18,416
Operating lease right-of-use assets	$ 18,202
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities		$ 18,400
Operating lease right-of-use assets		$ 18,400
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, remaining lease term	1 year
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, remaining lease term	19 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense and Supplemental Cash Flow Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease expense	$ 653
Short-term lease expense	43
Total lease expense	696
Operating cash flows from operating leases	$ 582

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2019USD ($)
Operating Leases
2019 (excluding the three months ended March 31, 2019)	$ 1,756
2020	2,346
2021	2,305
2022	2,269
2023	2,178
Thereafter	25,859
Total lease payments	36,713
Less: Interest	(17,621)
Present value of lease liabilities	19,092
Finance Leases
2019 (excluding the three months ended March 31, 2019)	29
2020	39
2021	39
2022	39
2023	39
Thereafter	22
Total lease payments	207
Less: Interest	(40)
Present value of lease liabilities	$ 167

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) $ in Thousands	Mar. 31, 2019USD ($)
Operating Leases
Operating lease right-of-use assets	$ 18,202
Current portion of lease liabilities	676
Operating lease liabilities	18,416
Total operating lease liabilities	19,092
Finance Leases
Property and equipment	210
Accumulated depreciation	0
Property and equipment, net	210
Current portion of lease liabilities	37
Finance lease liabilities	130
Total finance lease liabilities	$ 167
Weighted Average Remaining Lease Term
Operating leases	15 years 8 months 12 days
Finance leases	5 years 3 months 18 days
Weighted Average Discount Rate
Operating leases	8.90%
Finance leases	8.50%

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Percentage of total revenue accounted for percentage-of-completion revenue, less than	0.10%	0.10%
Product sales as a percentage of total revenue	95.00%	95.00%
Performance obligation, description of timing	Practical Expedients and Exemptions The Company has elected to apply several practical expedients as discussed below: Sales commissions are expensed when incurred because the amortization period would have been one year or less. These costs are recorded within segment selling and administrative expenses. The majority of the Company’s services are short-term in nature with a contract term of one year or less. For those contracts, the Company has utilized the practical expedient in ASC 606-10-50-14, exempting the Company from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. The Company’s payment terms are short-term in nature with settlements of one year or less. The Company has utilized the practical expedient in ASC 606-10-32-18, exempting the Company from adjusting the promised amount of consideration for the effects of a significant financing component given that the period between when the Company transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less. In most service contracts, the Company has the right to consideration from a customer in an amount that corresponds directly with the value to the customer of the Company’s performance completed to date. For these contracts, the Company has utilized the practical expedient in ASC 606-10-55-18, allowing the Company to recognize revenue in the amount to which it has a right to invoice. Accordingly, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed.
Disaggregation of Revenue [Line Items]
Revenue	$ 43,256	$ 41,069
Operating expenses (excluding depreciation and amortization):	44,599	36,655
Products
Disaggregation of Revenue [Line Items]
Revenue	42,072	39,929
Operating expenses (excluding depreciation and amortization):	44,078	35,181
Services
Disaggregation of Revenue [Line Items]
Revenue	1,184	1,140
Operating expenses (excluding depreciation and amortization):	$ 521	$ 1,474

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Supplemental cash payment information:
Interest paid	$ 578	$ 457
Income taxes paid, net of refunds	$ 22	$ 71

Inventories - Components of Inv

Inventories - Components of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Components of Inventory
Raw materials	$ 19,636	$ 10,608
Work-in-process	0	0
Finished goods	16,138	18,798
Inventories	35,774	29,406
Less reserve for excess and obsolete inventory	(1,416)	(2,117)
Inventories, net	$ 34,358	$ 27,289

Property and Equipment - Compon

Property and Equipment - Components of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Components of Property, Plant and Equipment
Property and equipment	$ 78,243	$ 82,462
Less accumulated depreciation	(35,254)	(36,977)
Property and equipment, net	42,989	45,485
Land
Components of Property, Plant and Equipment
Property and equipment	4,372	4,372
Buildings and leasehold improvements
Components of Property, Plant and Equipment
Property and equipment	37,742	37,719
Machinery and equipment
Components of Property, Plant and Equipment
Property and equipment	26,601	26,995
Fixed assets in progress
Components of Property, Plant and Equipment
Property and equipment	888	581
Furniture and fixtures
Components of Property, Plant and Equipment
Property and equipment	1,574	1,573
Transportation equipment
Components of Property, Plant and Equipment
Property and equipment	1,665	1,852
Computer equipment and software
Components of Property, Plant and Equipment
Property and equipment	$ 5,401	$ 9,370

Property and Equipment - Additi

Property and Equipment - Additional Disclosures (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1,800,000	$ 2,000,000
Impairment of property and equipment	$ 0	$ 0

Goodwill - Additional Disclosur

Goodwill - Additional Disclosures (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill		$ 0
Goodwill acquired during period	$ 0

Other Intangible Assets - Sched

Other Intangible Assets - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	$ 35,781	$ 37,660
Finite-lived intangible assets, accumulated amortization	13,563	13,593
Total other intangible assets	38,541	40,420
Other intangible assets, net	24,978	26,827
Trademarks and brand names
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, cost	2,760	2,760
Acquired Intangible Assets
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	35,781	35,736
Finite-lived intangible assets, accumulated amortization	13,563	13,097
Patents and technology
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	18,941	18,884
Finite-lived intangible assets, accumulated amortization	6,955	6,689
Customer lists
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	15,367	15,367
Finite-lived intangible assets, accumulated amortization	5,447	5,259
Trademarks and brand names
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	1,473	1,485
Finite-lived intangible assets, accumulated amortization	1,161	1,149
Deferred financing costs
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	0	1,924
Finite-lived intangible assets, accumulated amortization	$ 0	$ 496

Other Intangible Assets - Addit

Other Intangible Assets - Additional Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Amortization of finite-lived intangible assets	$ 500	$ 300
Amortization of deferred financing costs	$ 1,428	$ 96
Minimum
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Amortization period	2 years
Maximum
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Amortization period	20 years

Long-Term Debt and Credit Fac_3

Long-Term Debt and Credit Facility - Components of Long-term debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Borrowings under revolving credit facility
Long-term debt:
Long-term debt	$ 0	$ 49,731

Long-Term Debt and Credit Fac_4

Long-Term Debt and Credit Facility - Additional Disclosures (Details) - Credit Facility	May 10, 2013USD ($)
Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 75,000,000
Letter of Credit | Borrowings under revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000,000

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Disclosures (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of earnings per share (in shares)	0.2	0.5

Earnings (Loss) Per Share - Bas

Earnings (Loss) Per Share - Basic and Diluted Earnings per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Class of Stock [Line Items]
Weighted average common shares outstanding - Basic (in shares)	58,373	57,259
Assumed conversions:
Weighted average common shares outstanding - Diluted (in shares)	58,373	57,259
Stock Options
Assumed conversions:
Incremental common shares from stock options and restricted stock units (in shares)	0	0
Restricted Stock Units
Assumed conversions:
Incremental common shares from stock options and restricted stock units (in shares)	0	0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Disclosures (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Cash and cash equivalents	$ 96,753,000		$ 3,044,000
Cash equivalents	49,000,000		0
Interest bearing demand deposit	45,000,000
Cash	2,800,000		$ 3,000,000
Impairment of goodwill	$ 0	$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Other Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrowings under revolving credit facility	$ 0	$ 49,731
Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrowings under revolving credit facility	$ 0	$ 49,731

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Tax Rate (Details)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	21.00%	21.00%
State income taxes, net of federal benefit	0.50%	(7.50%)
Non-U.S. income taxed at different rates	1.30%	20.70%
Reduction in tax benefit related to stock-based awards	(2.30%)	(44.20%)
Non-deductible expenses	(0.60%)	(8.30%)
Research and development credit	0.80%	24.70%
Increase in valuation allowance	(15.70%)	(3.10%)
Other	(0.20%)	0.00%
Effective income tax rate	4.80%	3.30%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Mar. 31, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Valuation allowance			$ 15,500
increase (decrease) in valuation allowance	$ (11,500)
Deferred tax assets, net	$ 18,663	$ 599

Common Stock - Reconciliation o

Common Stock - Reconciliation of Changes in Common Shares Issued and Additional Disclosures (Details)	Nov. 09, 2009series$ / sharesshares	Mar. 31, 2019$ / sharesshares	Dec. 31, 2018$ / sharesshares
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures [Abstract]
Common stock, shares authorized (in shares)	80,000,000	80,000,000	80,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000	100,000	100,000
Preferred stock, minimum number of series authorized (series) | series	1
Preferred stock, at par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Reconciliation of changes in common shares issued
Shares issued, beginning balance (in shares)		62,162,875
Issued as restricted stock award grants (in shares)		36,037
Shares issued, ending balance (in shares)		62,198,912

Common Stock - Stock Repurchase

Common Stock - Stock Repurchase Program (Details) - USD ($)	3 Months Ended		46 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Jun. 30, 2015
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, remaining amount	$ 49,700,000		$ 49,700,000
Share Repurchase Program, June 2015
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount (up to)				$ 50,000,000
Repurchase of common stock			$ 300,000
Repurchase of common stock during period (in shares)	0	0

Business Segment, Geographic _3

Business Segment, Geographic and Major Customer Information - Additional Disclosures (Details)	3 Months Ended
	Mar. 31, 2019segment
Segment Reporting [Abstract]
Number of reportable segments (segment)	1

Business Segment, Geographic _4

Business Segment, Geographic and Major Customer Information - Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Summarized financial information regarding reportable segments
Net revenue from external customers	$ 43,256	$ 41,069
Income (loss) from operations	(14,266)	(9,223)
Depreciation and amortization	2,260	2,333
Capital expenditures	461	1,377
Operating Segments | Energy Chemistry Technologies
Summarized financial information regarding reportable segments
Net revenue from external customers	43,256	41,069
Income (loss) from operations	(5,334)	(166)
Depreciation and amortization	1,785	1,769
Capital expenditures	461	1,011
Corporate and Other
Summarized financial information regarding reportable segments
Net revenue from external customers	0	0
Income (loss) from operations	(8,932)	(9,057)
Depreciation and amortization	475	564
Capital expenditures	$ 0	$ 366

Business Segment, Geographic _5

Business Segment, Geographic and Major Customer Information - Assets by Reportable Segments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 282,792	$ 285,883
Held for sale	0	118,470
Operating Segments
Segment Reporting Information [Line Items]
Assets	282,792	167,413
Operating Segments | Energy Chemistry Technologies
Segment Reporting Information [Line Items]
Assets	157,636	139,205
Corporate and Other
Segment Reporting Information [Line Items]
Assets	$ 125,156	$ 28,208

Business Segment, Geographic _6

Business Segment, Geographic and Major Customer Information - Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 43,256	$ 41,069
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	38,875	36,710
Other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 4,381	$ 4,359

Business Segment, Geographic _7

Business Segment, Geographic and Major Customer Information - Major Customers (Details) - Customer Concentration Risk - Sales	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Customer A
Segment Reporting Information [Line Items]
Percentage of revenue by major customers	19.00%
Customer B
Segment Reporting Information [Line Items]
Percentage of revenue by major customers	12.60%
Customer C
Segment Reporting Information [Line Items]
Percentage of revenue by major customers		10.70%

Commitments and Contingencies (

Commitments and Contingencies (Details)	Mar. 30, 2017lawsuit
Punitive Lawsuits Filed in the United States District Court for the Southern District of Texas
Loss Contingencies [Line Items]
Number of lawsuits dismissed (lawsuit)	4

Related Party Transaction (Deta

Related Party Transaction (Details) $ in Millions	Mar. 31, 2019USD ($)
Chief Executive Officer | IRS Tax Indemnification
Related Party Transaction [Line Items]
Due from related party	$ 2.4
IRS Tax Indemnification
Related Party Transaction [Line Items]
Potential exposure	2.4
Loss contingency accrual	$ 2.4