2018 Q4 Form 10-K Financial Statement
#000169903919000012 Filed on March 06, 2019
Income Statement
Concept | 2018 Q4 | 2018 | 2017 Q4 |
---|---|---|---|
Revenue | $85.30M | $303.1M | $50.10M |
YoY Change | 70.26% | 96.82% | 90.49% |
Cost Of Revenue | $64.10M | $236.9M | $43.10M |
YoY Change | 48.72% | 87.42% | 111.27% |
Gross Profit | $21.20M | $66.20M | $7.100M |
YoY Change | 198.59% | 139.86% | 20.34% |
Gross Profit Margin | 24.85% | 21.84% | 14.17% |
Selling, General & Admin | $8.200M | $29.00M | $6.400M |
YoY Change | 28.12% | -4.61% | 20.75% |
% of Gross Profit | 38.68% | 43.81% | 90.14% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $9.700M | $30.30M | $6.100M |
YoY Change | 59.02% | 70.22% | 74.29% |
% of Gross Profit | 45.75% | 45.77% | 85.92% |
Operating Expenses | $17.90M | $59.30M | $12.50M |
YoY Change | 43.2% | 23.03% | 42.05% |
Operating Profit | $3.300M | -$2.100M | -$5.200M |
YoY Change | -163.46% | -89.81% | 79.31% |
Interest Expense | -$1.900M | $3.700M | -$400.0K |
YoY Change | 375.0% | -41.27% | 100.0% |
% of Operating Profit | -57.58% | ||
Other Income/Expense, Net | -$3.700M | ||
YoY Change | -41.27% | ||
Pretax Income | $1.400M | -$5.800M | -$5.800M |
YoY Change | -124.14% | -78.44% | 87.1% |
Income Tax | -$300.0K | $0.00 | $0.00 |
% Of Pretax Income | -21.43% | ||
Net Earnings | $1.000M | -$3.300M | -$3.100M |
YoY Change | -132.26% | -50.0% | -38.0% |
Net Earnings / Revenue | 1.17% | -1.09% | -6.19% |
Basic Earnings Per Share | $0.12 | -$0.39 | -$0.36 |
Diluted Earnings Per Share | $0.11 | -$0.39 | -$0.36 |
COMMON SHARES | |||
Basic Shares Outstanding | 8.426M shares | ||
Diluted Shares Outstanding | 8.426M shares |
Balance Sheet
Concept | 2018 Q4 | 2018 | 2017 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $2.600M | $2.600M | $5.300M |
YoY Change | -50.94% | -50.94% | 231.25% |
Cash & Equivalents | $2.600M | $2.600M | $5.300M |
Short-Term Investments | |||
Other Short-Term Assets | $5.100M | $5.100M | $6.300M |
YoY Change | -19.05% | -19.05% | 3.28% |
Inventory | $4.900M | $4.900M | $1.500M |
Prepaid Expenses | $5.100M | ||
Receivables | $45.40M | $48.50M | $32.10M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $61.10M | $61.10M | $49.10M |
YoY Change | 24.44% | 22.94% | 120.18% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $229.8M | $229.8M | $189.2M |
YoY Change | 21.46% | 21.46% | 84.77% |
Goodwill | $0.00 | $9.000M | |
YoY Change | -100.0% | 462.5% | |
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $1.600M | $1.600M | $1.600M |
YoY Change | 0.0% | 60.0% | 700.0% |
Total Long-Term Assets | $241.4M | $241.4M | $210.6M |
YoY Change | 14.62% | 14.95% | 85.71% |
TOTAL ASSETS | |||
Total Short-Term Assets | $61.10M | $61.10M | $49.10M |
Total Long-Term Assets | $241.4M | $241.4M | $210.6M |
Total Assets | $302.5M | $302.5M | $259.7M |
YoY Change | 16.48% | 16.48% | 91.38% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $17.20M | $17.20M | $32.00M |
YoY Change | -46.25% | -46.25% | 350.7% |
Accrued Expenses | $18.50M | $15.60M | $11.60M |
YoY Change | 59.48% | 52.94% | 480.0% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $15.80M | $20.20M | $1.300M |
YoY Change | 1115.38% | 117.2% | -53.57% |
Total Short-Term Liabilities | $58.90M | $58.90M | $52.90M |
YoY Change | 11.34% | 11.34% | 344.54% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $44.70M | $51.30M | $5.800M |
YoY Change | 670.69% | 602.74% | -42.57% |
Other Long-Term Liabilities | $300.0K | $300.0K | $3.800M |
YoY Change | -92.11% | -92.11% | 245.45% |
Total Long-Term Liabilities | $45.00M | $51.60M | $9.600M |
YoY Change | 368.75% | 364.86% | -14.29% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $58.90M | $58.90M | $52.90M |
Total Long-Term Liabilities | $45.00M | $51.60M | $9.600M |
Total Liabilities | $110.5M | $200.6M | $64.00M |
YoY Change | 72.66% | 28.59% | 177.06% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$9.900M | -$6.600M | |
YoY Change | 50.0% | ||
Common Stock | |||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | 0.000 shares | ||
Shareholders Equity | $101.9M | $101.9M | $103.7M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $302.5M | $302.5M | $259.7M |
YoY Change | 16.48% | 16.48% | 91.38% |
Cashflow Statement
Concept | 2018 Q4 | 2018 | 2017 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $1.000M | -$3.300M | -$3.100M |
YoY Change | -132.26% | -50.0% | -38.0% |
Depreciation, Depletion And Amortization | $9.700M | $30.30M | $6.100M |
YoY Change | 59.02% | 70.22% | 74.29% |
Cash From Operating Activities | $2.700M | $27.60M | -$9.700M |
YoY Change | -127.84% | -259.54% | 304.17% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$19.80M | $75.90M | -$5.300M |
YoY Change | 273.58% | 249.77% | -10.17% |
Acquisitions | $4.000M | ||
YoY Change | -91.61% | ||
Other Investing Activities | $1.500M | $1.500M | $500.0K |
YoY Change | 200.0% | -103.18% | -103.52% |
Cash From Investing Activities | -$18.30M | -$74.40M | -$4.800M |
YoY Change | 281.25% | 7.98% | -76.12% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | |||
Debt Paid & Issued, Net | $37.60M | ||
YoY Change | 213.33% | ||
Cash From Financing Activities | 16.20M | $44.10M | -900.0K |
YoY Change | -1900.0% | -49.94% | -104.04% |
NET CHANGE | |||
Cash From Operating Activities | 2.700M | $27.60M | -9.700M |
Cash From Investing Activities | -18.30M | -$74.40M | -4.800M |
Cash From Financing Activities | 16.20M | $44.10M | -900.0K |
Net Change In Cash | 600.0K | -$2.700M | -15.40M |
YoY Change | -103.9% | -242.11% | 7600.0% |
FREE CASH FLOW | |||
Cash From Operating Activities | $2.700M | $27.60M | -$9.700M |
Capital Expenditures | -$19.80M | $75.90M | -$5.300M |
Free Cash Flow | $22.50M | -$48.30M | -$4.400M |
YoY Change | -611.36% | 23.85% | -225.71% |
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Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
|
3100000 | USD |
CY2017 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
174600000 | USD |
CY2018 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
305200000 | USD |
CY2017 | us-gaap |
Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
|
400000 | USD |
CY2018 | us-gaap |
Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
|
-200000 | USD |
CY2017 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | USD |
CY2018 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | USD |
CY2017 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
400000 | USD |
CY2018 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
-200000 | USD |
CY2018Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
61800000 | USD |
CY2017 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
0 | USD |
CY2018 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
0 | USD |
CY2017 | us-gaap |
Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
|
0 | USD |
CY2018 | us-gaap |
Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
|
200000 | USD |
CY2017 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
0 | USD |
CY2018 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
200000 | USD |
CY2017Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
6500000 | USD |
CY2018Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
15700000 | USD |
CY2017Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
4200000 | USD |
CY2018Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
10300000 | USD |
CY2017Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
6200000 | USD |
CY2017Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
0 | USD |
CY2018Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
200000 | USD |
CY2017 | us-gaap |
Depreciation
Depreciation
|
17200000 | USD |
CY2018 | us-gaap |
Depreciation
Depreciation
|
29500000 | USD |
CY2017 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
17800000 | USD |
CY2018 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
30300000 | USD |
CY2017 | us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | USD |
CY2018 | us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | USD |
CY2018Q4 | us-gaap |
Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
|
3000000 | USD |
CY2017Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.00 | |
CY2017Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.00 | |
CY2017Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.42 | |
CY2017Q4 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.36 | |
CY2017 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.78 | |
CY2018Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.68 | |
CY2018Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.08 | |
CY2018Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.24 | |
CY2018Q4 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.12 | |
CY2018 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.39 | |
CY2017Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | |
CY2017Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | |
CY2017Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.42 | |
CY2017Q4 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.36 | |
CY2017 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.78 | |
CY2018Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.68 | |
CY2018Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.08 | |
CY2018Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.23 | |
CY2018Q4 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.11 | |
CY2018 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.39 | |
CY2017 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.35 | |
CY2018 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.21 | |
CY2017Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2900000 | USD |
CY2018Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
6200000 | USD |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
700000 | USD |
CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
1500000 | USD |
CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
6400000 | USD |
CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
800000 | USD |
CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
700000 | USD |
CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
700000 | USD |
CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
700000 | USD |
CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
700000 | USD |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
10800000 | USD |
CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
10000000 | USD |
CY2017 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
30400000 | USD |
CY2018 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
29000000 | USD |
CY2016Q4 | us-gaap |
Goodwill
Goodwill
|
1600000 | USD |
CY2017Q4 | us-gaap |
Goodwill
Goodwill
|
9000000 | USD |
CY2018Q4 | us-gaap |
Goodwill
Goodwill
|
0 | USD |
CY2017 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
7400000 | USD |
CY2018 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
0 | USD |
CY2017 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD |
CY2017 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD |
CY2018 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
9000000 | USD |
CY2017 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-26900000 | USD |
CY2018 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-5800000 | USD |
CY2017 | us-gaap |
Interest Paid Net
InterestPaidNet
|
500000 | USD |
CY2018 | us-gaap |
Interest Paid Net
InterestPaidNet
|
2100000 | USD |
CY2017 | us-gaap |
Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
|
4700000 | USD |
CY2018 | us-gaap |
Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
|
-2900000 | USD |
CY2017 | us-gaap |
Interest Expense
InterestExpense
|
6300000 | USD |
CY2018 | us-gaap |
Interest Expense
InterestExpense
|
3700000 | USD |
CY2017Q4 | us-gaap |
Liabilities
Liabilities
|
64000000 | USD |
CY2018Q4 | us-gaap |
Liabilities
Liabilities
|
110500000 | USD |
CY2017 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
400000 | USD |
CY2018 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2017 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
1000000 | USD |
CY2018 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0 | USD |
CY2017 | us-gaap |
Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
|
1400000 | USD |
CY2018 | us-gaap |
Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
|
0 | USD |
CY2017 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-9400000 | USD |
CY2018 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-1200000 | USD |
CY2017 | us-gaap |
Income Tax Reconciliation Minority Interest Income Expense
IncomeTaxReconciliationMinorityInterestIncomeExpense
|
-1900000 | USD |
CY2018 | us-gaap |
Income Tax Reconciliation Minority Interest Income Expense
IncomeTaxReconciliationMinorityInterestIncomeExpense
|
-600000 | USD |
CY2017 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
0 | USD |
CY2018 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
600000 | USD |
CY2017 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
200000 | USD |
CY2018 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
0 | USD |
CY2017 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2600000 | USD |
CY2018 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
200000 | USD |
CY2017 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
12400000 | USD |
CY2018 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
13500000 | USD |
CY2017 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
7400000 | USD |
CY2018 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
7500000 | USD |
CY2017 | us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
-2400000 | USD |
CY2018 | us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
0 | USD |
CY2017 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
0 | USD |
CY2018 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
3400000 | USD |
CY2017 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-300000 | USD |
CY2018 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-1100000 | USD |
CY2017 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
700000 | USD |
CY2018 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
100000 | USD |
CY2017 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
4000000 | USD |
CY2018 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
900000 | USD |
CY2017Q4 | us-gaap |
Inventory Net
InventoryNet
|
1500000 | USD |
CY2018Q4 | us-gaap |
Inventory Net
InventoryNet
|
4900000 | USD |
CY2017Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
259700000 | USD |
CY2018Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
302500000 | USD |
CY2017Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
52900000 | USD |
CY2018Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
58900000 | USD |
CY2017 | us-gaap |
Loans Assumed1
LoansAssumed1
|
3000000 | USD |
CY2018 | us-gaap |
Loans Assumed1
LoansAssumed1
|
0 | USD |
CY2017Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
7100000 | USD |
CY2018Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
60500000 | USD |
CY2018Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
15800000 | USD |
CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
|
100000 | USD |
CY2017Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
1300000 | USD |
CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4800000 | USD |
CY2018Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-10800000 | USD |
CY2018Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1000000 | USD |
CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
26000000 | USD |
CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
10000000 | USD |
CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
10000000 | USD |
CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
|
15700000 | USD |
CY2017Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
5800000 | USD |
CY2018Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
44700000 | USD |
CY2017Q4 | us-gaap |
Minority Interest
MinorityInterest
|
92000000 | USD |
CY2018Q4 | us-gaap |
Minority Interest
MinorityInterest
|
90100000 | USD |
CY2017 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
88100000 | USD |
CY2018 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
44100000 | USD |
CY2017 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-68900000 | USD |
CY2018 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-74400000 | USD |
CY2017 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-17300000 | USD |
CY2018 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
27600000 | USD |
CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
0 | USD |
CY2017Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
0 | USD |
CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3500000 | USD |
CY2017Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3100000 | USD |
CY2017 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6600000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5700000 | USD |
CY2018Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-700000 | USD |
CY2018Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2100000 | USD |
CY2018Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1000000 | USD |
CY2018 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3300000 | USD |
CY2017 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-5500000 | USD |
CY2018 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-2500000 | USD |
CY2017 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-6600000 | USD |
CY2018 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-3300000 | USD |
CY2017 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-6600000 | USD |
CY2018 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-3300000 | USD |
CY2017 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-6300000 | USD |
CY2018 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-3700000 | USD |
CY2017 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment |
CY2018 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | segment |
CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-5700000 | USD |
CY2017Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4900000 | USD |
CY2017Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-5200000 | USD |
CY2017 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-20600000 | USD |
CY2018Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
4400000 | USD |
CY2018Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
3300000 | USD |
CY2018 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2100000 | USD |
CY2017 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
21000000 | USD |
CY2018 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
0 | USD |
CY2017 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
0 | USD |
CY2018 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
-1300000 | USD |
CY2017 | us-gaap |
Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
|
0 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
10500000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
2900000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
700000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
700000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
900000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
2300000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
3000000 | USD |
CY2018Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
78900000 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1600000 | USD |
CY2018Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1600000 | USD |
CY2017Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
0 | USD |
CY2018Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
3000000 | USD |
CY2017Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3800000 | USD |
CY2018Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
300000 | USD |
CY2017 | us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
0 | USD |
CY2018 | us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
200000 | USD |
CY2017 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
3900000 | USD |
CY2018 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
0 | USD |
CY2017 | us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
47700000 | USD |
CY2018 | us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
4000000 | USD |
CY2017 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
21700000 | USD |
CY2018 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
75900000 | USD |
CY2017Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2018Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2017Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2018Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2018Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2018Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2018Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2017Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
4200000 | USD |
CY2018Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
5100000 | USD |
CY2017 | us-gaap |
Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
|
4000000 | USD |
CY2018 | us-gaap |
Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
|
0 | USD |
CY2017 | us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
0 | USD |
CY2018 | us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
56000000 | USD |
CY2018 | us-gaap |
Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
|
-2500000 | USD |
CY2017 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
500000 | USD |
CY2018Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
2900000 | USD |
CY2017 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | USD |
CY2018 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | USD |
CY2017 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
8413178 | shares |
CY2018 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
5500000 | USD |
CY2017Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-6200000 | USD |
CY2017Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-6000000 | USD |
CY2017Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-9500000 | USD |
CY2017Q4 | us-gaap |
Profit Loss
ProfitLoss
|
-5600000 | USD |
CY2017 | us-gaap |
Profit Loss
ProfitLoss
|
-27300000 | USD |
CY2018Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-10300000 | USD |
CY2018Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-1200000 | USD |
CY2018Q3 | us-gaap |
Profit Loss
ProfitLoss
|
4000000 | USD |
CY2018Q4 | us-gaap |
Profit Loss
ProfitLoss
|
1700000 | USD |
CY2018 | us-gaap |
Profit Loss
ProfitLoss
|
-5800000 | USD |
CY2017Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
214600000 | USD |
CY2018Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
282300000 | USD |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
189200000 | USD |
CY2018Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
229800000 | USD |
CY2017 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
300000 | USD |
CY2018 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
200000 | USD |
CY2017 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
1900000 | USD |
CY2018 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
9600000 | USD |
CY2017Q3 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
10400000 | USD |
CY2017 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
12000000 | USD |
CY2018 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
37600000 | USD |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-6600000 | USD |
CY2018Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-9900000 | USD |
CY2017 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
154000000 | USD |
CY2018 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
303100000 | USD |
CY2017Q1 | us-gaap |
Revenues
Revenues
|
29100000 | USD |
CY2017Q2 | us-gaap |
Revenues
Revenues
|
33700000 | USD |
CY2017Q3 | us-gaap |
Revenues
Revenues
|
41100000 | USD |
CY2017Q4 | us-gaap |
Revenues
Revenues
|
50100000 | USD |
CY2017 | us-gaap |
Revenues
Revenues
|
154000000 | USD |
CY2018Q1 | us-gaap |
Revenues
Revenues
|
62600000 | USD |
CY2018Q2 | us-gaap |
Revenues
Revenues
|
73100000 | USD |
CY2018Q3 | us-gaap |
Revenues
Revenues
|
82100000 | USD |
CY2018Q4 | us-gaap |
Revenues
Revenues
|
85300000 | USD |
CY2018 | us-gaap |
Revenues
Revenues
|
303100000 | USD |
CY2017 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1200000 | USD |
CY2018 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2100000 | USD |
CY2017 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
1200000 | USD |
CY2017 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
5000000 | USD |
CY2018 | us-gaap |
Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
|
2100000 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
103700000 | USD |
CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
101900000 | USD |
CY2017Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
1400000 | USD |
CY2018 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
8425593 | shares |
CY2017 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
8413178 | shares |
CY2018 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
8425593 | shares |
CY2018 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 1 — Organization and Business Operations</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ranger Energy Services, LLC (“Ranger Services”) was, through Ranger Energy Holdings, LLC (“Ranger Holdings”), formed by CSL Capital Management, LLC (“CSL”) in </font><font style="font-family:inherit;font-size:10pt;">June 2014</font><font style="font-family:inherit;font-size:10pt;"> as a provider of high‑spec well service rigs and associated services. Torrent Energy Services, LLC (“Torrent Services” and together with Ranger Services, the “Predecessor Company”) was, through Torrent Energy Holdings, LLC (“Torrent Holdings”), acquired by CSL in September 2014 as a provider of proprietary, modular equipment for the processing of natural gas. In June 2016, CSL indirectly acquired substantially all of the assets of Magna Energy Services, LLC (“Magna”), a provider of well services and wireline services, which it contributed to Ranger Services in September 2016. In October 2016, Ranger Services acquired substantially all of the assets of Bayou Workover Services, LLC (“Bayou”), an owner and operator of high‑spec well service rigs. These consolidated financial statements included in this Annual Report (i) prior to </font><font style="font-family:inherit;font-size:10pt;">August 16, 2017</font><font style="font-family:inherit;font-size:10pt;"> include, the historical financial information of Ranger Services, Torrent Services, Magna and Bayou (collectively, our “Predecessor”), including, as applicable, the results of operations of Magna and Bayou for periods subsequent to their respective acquisitions, and (ii) subsequent to </font><font style="font-family:inherit;font-size:10pt;">August 16, 2017</font><font style="font-family:inherit;font-size:10pt;">, the historical information of Ranger Energy Services, Inc. (“Ranger” or the “Company”).</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ranger was incorporated as a Delaware corporation in </font><font style="font-family:inherit;font-size:10pt;">February 2017</font><font style="font-family:inherit;font-size:10pt;">. In conjunction with Ranger’s initial public offering (the “Offering”) of Class A Common Stock, par value </font><font style="font-family:inherit;font-size:10pt;">$0.01</font><font style="font-family:inherit;font-size:10pt;"> per share (“Class A Common Stock”), which closed on </font><font style="font-family:inherit;font-size:10pt;">August 16, 2017</font><font style="font-family:inherit;font-size:10pt;"> and the corporate reorganization described below, Ranger is a holding company, the sole material assets of which consist of membership interests in RNGR Energy Services, LLC a Delaware limited liability company (“Ranger LLC”). Ranger LLC owns all of the outstanding equity interests in Ranger Services and Torrent Services, the subsidiaries through which it operates its assets. Through the consummation of the corporate reorganization, Ranger LLC is the sole managing member of Ranger Services and Torrent Services, and is responsible for all operational, management and administrative decisions relating to Ranger Services and Torrent Services’ business and consolidates the financial results of Ranger Services and Torrent Services and their subsidiaries.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reorganization</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On August 10, 2017, Ranger Services, entered into a Master Reorganization Agreement (the “Master Reorganization Agreement”) with, among others, Ranger LLC, Ranger Holdings, Ranger Energy Holdings II, LLC, a Delaware limited liability company (“Ranger Holdings II”), Torrent Holdings, and Torrent Energy Holdings II, LLC, a Delaware limited liability company (“Torrent Holdings II” and, together with Ranger Holdings, Ranger Holdings II and Torrent Holdings, the “Existing Owners”).</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Subject to the terms and conditions set forth in the Master Reorganization Agreement, the parties thereto effected a series of restructuring transactions in connection with the Offering, as a result of which:</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(i) Ranger Holdings II and Torrent Holdings II contributed certain of the equity interests in Predecessor Companies to the Company in exchange for an aggregate of </font><font style="font-family:inherit;font-size:10pt;">1,638,386</font><font style="font-family:inherit;font-size:10pt;"> shares of Class A Common Stock and the Company contributed such equity interests to Ranger LLC in exchange for </font><font style="font-family:inherit;font-size:10pt;">1,638,386</font><font style="font-family:inherit;font-size:10pt;"> units in Ranger LLC (“Ranger Units”). Additionally, an aggregate of </font><font style="font-family:inherit;font-size:10pt;">$3.0 million</font><font style="font-family:inherit;font-size:10pt;"> will be paid by the Company to CSL Energy Holdings I, LLC, a Delaware limited liability company and CSL Energy Holdings II, LLC, a Delaware limited liability company, on or prior to the </font><font style="font-family:inherit;font-size:10pt;">18</font><font style="font-family:inherit;font-size:10pt;">-month anniversary of the consummation of the Offering in, at the Company’s option, cash, shares of Class A Common Stock (with such shares to be valued based on the greater of the price of the Class A Common Stock in the Offering and a </font><font style="font-family:inherit;font-size:10pt;">30</font><font style="font-family:inherit;font-size:10pt;">-day volume-weighted average price) or a combination thereof (included within Other current liabilities on the accompanying consolidated balance sheet as of December 31, 2018); </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(ii) Ranger Holdings and Torrent Holdings contributed the remaining membership interests in the Predecessor Companies to Ranger LLC in exchange for </font><font style="font-family:inherit;font-size:10pt;">5,621,491</font><font style="font-family:inherit;font-size:10pt;"> Ranger Units and </font><font style="font-family:inherit;font-size:10pt;">5,621,491</font><font style="font-family:inherit;font-size:10pt;"> shares of the Company’s Class B Common Stock, par value </font><font style="font-family:inherit;font-size:10pt;">$0.01</font><font style="font-family:inherit;font-size:10pt;"> per share (“Class B Common Stock”), which the Company initially issued and contributed to Ranger LLC;</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(iii) the Company contributed all of the net proceeds received by it in the Offering to Ranger LLC in exchange for </font><font style="font-family:inherit;font-size:10pt;">5,862,069</font><font style="font-family:inherit;font-size:10pt;"> Ranger Units;</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(iv) Ranger LLC distributed to each of Ranger Holdings and Torrent Holdings one share of Class B Common Stock received pursuant to (ii) above for each Ranger Unit such Existing Owner held; and</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(v) as consideration for the termination of certain loan agreements, the Company issued </font><font style="font-family:inherit;font-size:10pt;">567,895</font><font style="font-family:inherit;font-size:10pt;"> shares of Class A Common Stock (in connection with Ranger LLC which issued </font><font style="font-family:inherit;font-size:10pt;">567,895</font><font style="font-family:inherit;font-size:10pt;"> Ranger Units to the Company) and Ranger LLC issued an aggregate of </font><font style="font-family:inherit;font-size:10pt;">1,244,663</font><font style="font-family:inherit;font-size:10pt;"> Ranger Units (and distributed a corresponding number of shares of Class B Common Stock) to the lenders thereof.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The foregoing transactions were undertaken in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) thereof. As a result of these transactions, Ranger LLC became a subsidiary of the Company and the Predecessor Companies became wholly owned subsidiaries of Ranger LLC.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Initial Public Offering</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">August 16, 2017</font><font style="font-family:inherit;font-size:10pt;">, the Company completed the Offering of </font><font style="font-family:inherit;font-size:10pt;">5,862,069</font><font style="font-family:inherit;font-size:10pt;"> shares of its Class A Common Stock. The gross proceeds of the Offering to the Company, based on a public offering price of </font><font style="font-family:inherit;font-size:10pt;">$14.50</font><font style="font-family:inherit;font-size:10pt;"> per share, were </font><font style="font-family:inherit;font-size:10pt;">$85.0 million</font><font style="font-family:inherit;font-size:10pt;">, which resulted in net proceeds to the Company of </font><font style="font-family:inherit;font-size:10pt;">$80.8 million</font><font style="font-family:inherit;font-size:10pt;">, after deducting </font><font style="font-family:inherit;font-size:10pt;">$4.2 million</font><font style="font-family:inherit;font-size:10pt;"> of underwriting discounts and commissions. The Company received net proceeds of approximately </font><font style="font-family:inherit;font-size:10pt;">$20.7 million</font><font style="font-family:inherit;font-size:10pt;"> after it paid off the remainder of its long term debt of </font><font style="font-family:inherit;font-size:10pt;">$10.4 million</font><font style="font-family:inherit;font-size:10pt;">, funded </font><font style="font-family:inherit;font-size:10pt;">$45.2 million</font><font style="font-family:inherit;font-size:10pt;"> for the cash portion of the ESCO Acquisition, </font><font style="font-family:inherit;font-size:10pt;">$3.9 million</font><font style="font-family:inherit;font-size:10pt;"> of costs incurred due to the Offering and </font><font style="font-family:inherit;font-size:10pt;">$0.7 million</font><font style="font-family:inherit;font-size:10pt;"> for cash bonuses to certain employees.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company’s Class A Common Stock has voting rights </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> vote per </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> share held on record for all matters to be voted upon by the shareholders. The Class A Common Stock is entitled to ratably receive dividends when and if declared by the board of directors. The Class A Common Stock upon dissolution, distribution of assets or other winding up is entitled to receive ratably the assets available for distribution to shareholders after payment of liability and liquidation preference of any outstanding shares of preferred stock.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company’s Class B Common Stock has voting rights </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> vote per </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> share held on record for all matters to be voted upon by the shareholders. The Class B Common Stock has no rights to receive dividends, liquidation rights or any other economic interests. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Business</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is one of the largest providers of high specification (“high‑spec”) well service rigs and associated services in the United States, with a focus on technically demanding unconventional horizontal well completion and production operations. Our high‑specification well service rigs facilitate operations throughout the lifecycle of a well, including (i) completion services, such as milling out composite plugs after the hydraulic fracturing process and the installation of downhole production equipment; (ii) workover, including retrieval and replacement of existing production tubing; (iii) well maintenance, including replacement of downhole artificial lift components; and (iv) decommissioning, such as plugging and abandonment operations. The Company also provides Completion and Other Services, which provides services necessary to bring and maintain a well on production and primarily includes (i) wireline perforating and pumpdown services and (ii) snubbing services often utilized in conjunction with our high-spec rigs to convey equipment in and out of a well during completion and workover activities. The Company provides rental equipment, including well control packages, hydraulic catwalks and other equipment that are often deployed with our well service rigs. In addition, the Company owns and operates a fleet of proprietary, modular natural gas processing equipment that processes rich natural gas streams at the wellhead or central gathering points. The Company has operations in most of the active oil and natural gas basins in the United States, including the Permian Basin, the Denver‑Julesburg Basin, the Bakken Shale, the Eagle Ford Shale, the Haynesville Shale, the Gulf Coast and the South Central Oklahoma Oil Province (“SCOOP”) and Sooner Trend Anadarko Basin Canadian and Kingfisher counties (“STACK”) plays.</font></div></div> | |
CY2018 | us-gaap |
Use Of Estimates
UseOfEstimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Management uses historical and other pertinent information to determine these estimates. Actual results could differ from such estimates. Areas where critical accounting estimates are made by management include:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization of property, plant and equipment and intangible assets;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Impairment of property, plant and equipment, goodwill and intangible assets;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Allowance for doubtful accounts;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value of assets acquired and liabilities assumed in an acquisition; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity‑based compensation.</font></div></td></tr></table></div> |