“The decrease from the decline in global drilling and completion activity was partially offset by higher revenue recognized from ROVs and LARS projects and increased coiled line pipe sales due to growing demand in the U.S. and a large offshore project.”
“We incurred $4.1 million of interest expense during the three months ended March 31, 2026, a decrease of $0.8 million compared to the three months ended March 31, 2025, due to decreased borrowings.”
“Net cash provided by (used in) investing activities Net cash provided by investing activities was $9.6 million for the year ended December 31, 2025, mainly related to $14.6 million proceeds from sale-leaseback transactions, partially offset by capital expenditures of $6.0 million.”