0001738827-26-000013 | 10-K | XBRL Viewer | KLX Energy Services Holdings INC

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Employee Retirement Plans	12 Months Ended
Employee Retirement Plans	Dec. 31, 2025
Postemployment Benefits [Abstract]
Employee Retirement Plans	Employee Retirement Plans The Company sponsors a qualified, defined contribution savings and investment plan, covering substantially all employees. The KLX Energy Services Holdings, Inc. Retirement Plan (“401(k) Plan”) was established pursuant to Section 401(k) of the Internal Revenue Code. Under the terms of this plan, covered employees may contribute up to 100% of their annual compensation, limited to certain statutory maximum contributions. Participants would vest in discretionary matching contributions in an amount equal to 50% of the first 6% of an employee’s eligible compensation that is contributed to the 401(k) Plan based on a 3-year vesting schedule. Total expense for the Plan was $3.2 and $3.4 for the years ended December 31, 2025 and December 31, 2024, respectively.

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Current:
Federal	$ 0.0	$ (0.3)
State	0.5	0.9
Total current income tax expense	0.5	0.6
Deferred:
Federal	0.0	0.0
State	0.3	0.0
Total deferred income tax expense	0.3	0.0
Total income tax expense	$ 0.8	$ 0.6

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Income Tax Examination [Line Items]
Income tax expense	$ 800,000	$ 600,000
Effective income tax rate reconciliation (as a percent)	(1.00%)	(1.10%)
Current state tax expense	$ 500,000	$ 900,000
Deferred state tax expense	300,000	0
Federal tax	0	(300,000)
Valuation allowance	280,300,000	265,200,000
Valuation allowance increase		15,100,000
Deferred tax assets, net		100,000
Tax-effected annual limitation under IRC	500,000
Operating losses, annual limitation	300,000
Federal net operating loss carryforward subject to section 382 limitation	763,200,000
Operating loss carryforward, Section 382 limitation, subject to expiration	12,100,000
Unrecognized tax benefits	0	0
Texas
Income Tax Examination [Line Items]
Current state tax expense	500,000	900,000
Domestic Tax Jurisdiction
Income Tax Examination [Line Items]
Operating loss carryforwards	972,900,000	840,200,000
State and Local Jurisdiction
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 312,400,000	$ 269,300,000

Inventories, net - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory reserve	$ 4.1	$ 3.2	$ 4.5

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2025
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Stuart Porter, a greater than 5% passive shareholder of the company, is the Senior Partner of Trace Capital. From time to time and in the ordinary course of business and at arms-length, certain Trace Capital portfolio companies engage us as service providers. The revenue associated with these related party transactions was $11.6 for the year ended December 31, 2025 and the related accounts receivable balance was $3.9 as of December 31, 2025.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Segment Reporting

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment Reporting

The Company is organized on a geographic basis. The Company’s reportable segments, which are also its operating segments, are comprised of the Southwest Region (the Permian Basin and the Eagle Ford Shale), the Rocky Mountains Region (the Bakken, Williston, DJ, Uinta, Powder River, Piceance and Niobrara basins) and the Northeast/Mid-Con Region (the Marcellus and Utica Shale as well as the Mid-Continent STACK and SCOOP and Haynesville Shale). The Company’s segments report operating results and capital or acquisition funding requests to the Chief Operating Decision Maker (“CODM”), the Chief Executive Officer. The CODM evaluates each segment’s performance based on segment operating income (loss) relative to budget and historical results. These evaluations are used to allocate resources and determine capital expenditures and management compensation for each segment. Accordingly, the Company has three reportable segments.

The following tables present revenues, significant expenses and operating income (loss) by reportable segment:


	Year Ended
		December 31, 2025
		Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Revenues		$	199.2	$	232.5	$	206.3	$	(1.4)	$	636.6
Less
Cost of sales		154.2		188.1		157.5		(1.4)
Depreciation and amortization		25.5		33.4		34.1
Selling, general and administrative(1)		7.5		12.1		6.0
Other segment items		6.3		2.4		5.1
Segment operating income (loss)		$	5.7	$	(3.5)	$	3.6	$	—	$	5.8
Reconciliation of profit or loss (segment profit/(loss))
Unallocated corporate expenses(2)										(36.1)
Interest income										0.4
Interest expense										(45.2)
Loss on debt extinguishment										(1.2)
Loss before income tax										$	(76.3)

(1) Note that the Selling, general and administrative line item in the Consolidated Statement of Operations contains the Other segment items line item here, less the Research and development costs line item.

(2) For the twelve months ended December 31, 2025, these consist of $3.2 of cost of sales, $2.3 of depreciation and amortization, $28.9 of selling, general and administrative, and $1.7 of other segment items.


	Year Ended
		December 31, 2024
		Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Revenues		$	229.1	$	270.7	$	211.6	$	(2.1)	$	709.3
Less
Cost of sales		164.6		218.4		164.9		(2.1)
Depreciation and amortization		27.3		30.8		34.1
Selling, general and administrative(1)		7.7		12.7		6.6
Other segment items		5.9		4.8		3.8
Segment operating income		$	23.6	$	4.0	$	2.2	$	—	$	29.8
Reconciliation of profit or loss (segment profit/(loss))
Unallocated corporate expenses(2)										(45.3)
Interest income										2.5
Interest expense										(39.4)
Loss before income tax										$	(52.4)

(2) For the twelve months ended December 31, 2024, these consist of $4.0 of cost of sales, $1.8 of depreciation and amortization, $38.0 of selling, general and administrative, and $1.5 of other segment items.

Other segment items include research and development costs, allocations and other expenses.

The following tables present revenues by service offering by reportable segment:


	Year Ended
	December 31, 2025
	Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Drilling	$	23.0	$	43.8	$	45.5	$	(1.4)	$	110.9
Completion	107.6		121.9		127.0				356.5
Production	50.3		41.7		15.3				107.3
Intervention	18.3		25.1		18.5				61.9
Total revenues	$	199.2	$	232.5	$	206.3	$	(1.4)	$	636.6



	December 31, 2024
	Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Drilling	$	24.6	$	76.3	$	57.3	$	(2.1)	$	156.1
Completion	123.8		125.6		123.3				372.7
Production	58.2		37.9		14.6				110.7
Intervention	22.5		30.9		16.4				69.8
Total revenues	$	229.1	$	270.7	$	211.6	$	(2.1)	$	709.3

The following table presents total assets by segment:


	December 31, 2025		December 31, 2024
Rocky Mountains	$	103.0	$	114.0
Southwest	139.2		152.3
Northeast/Mid-Con	92.4		98.4
Total	334.6		364.7
Unallocated corporate assets	5.7		91.6
Total assets	$	340.3	$	456.3

The following table presents capital expenditures by reportable segment:


	Year Ended
	December 31, 2025		December 31, 2024
Rocky Mountains	$	9.7	$	14.5
Southwest	15.7		24.1
Northeast/Mid-Con	23.1		26.1
Unallocated corporate capital expenditures	0.6		0.4
Total capital expenditures	$	49.1	$	65.1

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Long-Term Debt - Narrative (Details) $ / shares in Units, $ in Millions	Mar. 11, 2025 USD ($)	Mar. 07, 2025 USD ($) $ / shares shares	Dec. 31, 2029	Dec. 31, 2028	Dec. 31, 2027	Dec. 31, 2026	Dec. 31, 2025 USD ($)	Mar. 12, 2025 USD ($)	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
Long term debt, gross							$ 280.1		$ 286.3
Long term debt outstanding							258.3		285.1
Accrued interest							0.4		$ 4.5
Outstanding short-term debt							$ 1.9
Weighted average interest rate							6.77%
Asset Based Revolving Line of Credit
Debt Instrument [Line Items]
Outstanding letter of credit amount							$ 6.9
2025 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)									11.50%
Aggregate principal amount	$ 143.6
Long term debt, gross							$ 0.0		$ 236.3
Long term debt outstanding									235.1
Accrued interest									4.5
2030 Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)		2.00%					12.30%
Principle amount		$ 232.2
Class of warrants (in shares) \| shares		2,373,187
Share price (in dollars per share) \| $ / shares		$ 0.01
Aggregate cash consideration		$ 78.4
Basis spread on variable rate		1.00%
Net leverage ratio							4.50
Net capital expenditures maximum		$ 65.0
Net capital expenditures of revenue, percentage		7.00%
Cross-acceleration to indebtedness		$ 7.5
Pari passu indebtedness incurred		$ 150.0
Long term debt, gross							$ 244.1		0.0
Long term debt outstanding							222.3
Accrued interest							$ 0.0
2030 Senior Notes \| Forecast
Debt Instrument [Line Items]
Net leverage ratio			2.50	3.00	3.50	4.00
ABL Facility \| Asset Based Revolving Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate		4.625%
Revolving credit facility		$ 125.0
Incremental revolving loans		$ 25.0
Reduction limit on basis spread		0.125%
Repayment in full over-advance		$ 5.0
Current borrowing capacity								$ 39.9
Asset based facility								$ 7.0
ABL Facility \| Filo Facility
Debt Instrument [Line Items]
Basis spread on variable rate		6.00%
Revolving credit facility		$ 10.0
Reduction limit on basis spread		0.50%
2028 ABL Facility
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)							8.61%
Long term debt, gross							$ 36.0		$ 0.0
Accrued interest							0.4
2028 ABL Facility \| Asset Based Revolving Line of Credit
Debt Instrument [Line Items]
Current borrowing capacity							50.6
Prior ABL Facility
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)									7.44%
Long term debt, gross							$ 0.0		$ 50.0

Description of Business and Significant Accounting Policies - Narrative (Details)		12 Months Ended
	Jul. 28, 2020	Dec. 31, 2025 USD ($) serviceFacility	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of service facilities \| serviceFacility		60
Reverse stock split ratio	0.2
Allowance for doubtful accounts		$ 1,700,000	$ 4,200,000
Inventory reserve		4,100,000	3,200,000	$ 4,500,000
Intangible assets, net		1,100,000	1,500,000
Gross intangible assets		5,900,000	5,900,000
Accumulated amortization		4,800,000	4,400,000
Amortization expense of intangible assets		400,000	300,000
Long-lived asset impairment charge		0	0
Amortization of deferred financing fees		2,300,000	2,600,000
Amortization of debt discount		$ 2,400,000	$ 0

Segment Reporting - Revenues by Service Offering by Reportable Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Revenues	$ 636.6	$ 709.3
Eliminations
Segment Reporting Information [Line Items]
Revenues	(1.4)	(2.1)
Rocky Mountains \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	199.2	229.1
Southwest \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	232.5	270.7
Northeast /Mid-Con \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	206.3	211.6
Drilling
Segment Reporting Information [Line Items]
Revenues	110.9	156.1
Drilling \| Eliminations
Segment Reporting Information [Line Items]
Revenues	(1.4)	(2.1)
Drilling \| Rocky Mountains \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	23.0	24.6
Drilling \| Southwest \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	43.8	76.3
Drilling \| Northeast /Mid-Con \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	45.5	57.3
Completion
Segment Reporting Information [Line Items]
Revenues	356.5	372.7
Completion \| Rocky Mountains \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	107.6	123.8
Completion \| Southwest \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	121.9	125.6
Completion \| Northeast /Mid-Con \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	127.0	123.3
Production
Segment Reporting Information [Line Items]
Revenues	107.3	110.7
Production \| Rocky Mountains \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	50.3	58.2
Production \| Southwest \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	41.7	37.9
Production \| Northeast /Mid-Con \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	15.3	14.6
Intervention
Segment Reporting Information [Line Items]
Revenues	61.9	69.8
Intervention \| Rocky Mountains \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	18.3	22.5
Intervention \| Southwest \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	25.1	30.9
Intervention \| Northeast /Mid-Con \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 18.5	$ 16.4

Fair Value Information - Placement in the Fair Value Hierarchy of Notes and Assets Held for Sale (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 246.0	$ 231.2
Assets Held for Sale	0.0	2.3
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	0.0	0.0
Assets Held for Sale	0.0	0.0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	0.0	231.2
Assets Held for Sale	0.0	2.3
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	246.0	0.0
Assets Held for Sale	0.0	0.0
2030 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	246.0
2030 Senior Notes \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	0.0
2030 Senior Notes \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	0.0
2030 Senior Notes \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 246.0
2025 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value		231.2
2025 Senior Notes \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value		0.0
2025 Senior Notes \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value		231.2
2025 Senior Notes \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value		$ 0.0

- Definition

The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-12

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Statement [Abstract]
Revenues	$ 636.6	$ 709.3
Costs and expenses:
Cost of sales	501.5	549.7
Depreciation and amortization	95.2	94.0
Selling, general and administrative	68.5	79.6
Research and development costs	1.7	1.4
Impairment and other charges	0.0	0.1
Operating loss	(30.3)	(15.5)
Non-operating expense:
Interest income	(0.4)	(2.5)
Interest expense	45.2	39.4
Loss on debt extinguishment	1.2	0.0
Net loss before income tax	(76.3)	(52.4)
Income tax expense	0.8	0.6
Net loss	$ (77.1)	$ (53.0)
Net loss per share - basic (in dollars per share)	$ (4.12)	$ (3.27)
Net loss per share - diluted (in dollars per share)	$ (4.12)	$ (3.27)

Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Amount
Income tax (benefit) expense at statutory rate	$ (16.0)	$ (11.0)
State income taxes, net of federal tax benefit	0.6	0.7
Valuation allowance	14.2	9.5
Stock based compensation	0.5	0.1
Meals and entertainment	1.1	1.3
Officer compensation	0.3	0.3
Other	0.1	0.0
Adjustments to prior year tax accruals	0.0	(0.3)
Total income tax expense	$ 0.8	$ 0.6
Percent
Income tax (benefit) expense at statutory rate	21.00%	21.00%
State income taxes, net of federal tax benefit	(0.80%)	(1.30%)
Valuation allowance	(18.60%)	(18.10%)
Stock based compensation	(0.70%)	(0.20%)
Meals and entertainment	(1.40%)	(2.50%)
Officer compensation	(0.40%)	(0.60%)
Other	(0.10%)	0.00%
Adjustments to prior year tax accruals	0.00%	0.60%
Total income tax expense and effective tax rate	(1.00%)	(1.10%)

Property and Equipment, Net

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment consisted of the following:


	Useful Life (Years)			December 31, 2025		December 31, 2024
Land, buildings and improvements	1	—	40	$	36.1	$	36.3
Machinery	1	—	20	299.8		289.0
Equipment and furniture	1	—	15	248.6		243.4
ROU assets - finance leases	1	—	20	84.9		83.9
Total property and equipment				669.4		652.6
Less: Accumulated depreciation				(512.3)		(461.1)
Add: Construction in progress				4.0		5.6
Total property and equipment, net				$	161.1	$	197.1

Depreciation of assets is computed using the straight-line method over the lesser of the estimated useful lives of the respective assets or the lease term, if shorter. Depreciation expense related to non-leased assets was $74.9 and $69.7 for the years ended December 31, 2025 and December 31, 2024, respectively. Finance lease amortization expense was $20.0 and $24.0 for the years ended December 31, 2025 and December 31, 2024.

Assets Held for Sale

As of December 31, 2025 and December 31, 2024, the Company’s consolidated balance sheet includes assets classified as held for sale of $— and $2.3, respectively.

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Commitments, Contingencies and Off-Balance Sheet Arrangements	12 Months Ended
	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Off-Balance-Sheet Arrangements	Commitments, Contingencies and Off-Balance Sheet Arrangements Environmental Regulations & Liabilities The Company is subject to various federal, state and local environmental laws and regulations that establish standards and requirements for the protection of the environment. The Company continues to monitor the status of these laws and regulations. However, the Company cannot predict the future impact of such laws and regulations, as well as standards and requirements, on its business, which are subject to change and can have retroactive effectiveness. Currently, the Company has not been fined, cited or notified of any environmental violations or liabilities that would have a material adverse effect on its consolidated financial statement position, results of operations, liquidity or capital resources. However, management does recognize that by the very nature of its business, material costs could be incurred in the future to maintain compliance. The amount of such future expenditures is not determinable due to several factors, including the unknown magnitude of possible regulation or liabilities, the unknown timing and extent of the corrective actions that may be required, the determination of the Company’s liability in proportion to other responsible parties and the extent to which such expenditures are recoverable from insurance or indemnification. Litigation The Company is at times either a plaintiff or a defendant in various legal actions arising in the normal course of business, the outcomes of which, in the opinion of management, neither individually nor in the aggregate are likely to result in a material adverse effect on the Company’s consolidated financial statements, except as otherwise noted in Item 3 Legal Proceedings. Indemnities, Commitments and Guarantees During its ordinary course of business, the Company has made certain indemnities, commitments and guarantees under which it may be required to make payments in relation to certain transactions. These indemnities include indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease, as well as indemnities to other parties to certain acquisition agreements. The duration of these indemnities, commitments and guarantees varies and, in certain cases, is indefinite. Many of these indemnities, commitments and guarantees provide for limitations on the maximum potential future payments the Company could be obligated to make. However, the Company is unable to estimate the maximum amount of liability related to its indemnities, commitments and guarantees because such liabilities are contingent upon the occurrence of events that are not reasonably determinable. Management believes that any liability for these indemnities, commitments and guarantees would not be material to the accompanying consolidated financial statements. Accordingly, no significant amounts have been accrued for indemnities, commitments and guarantees.

Equity and Stock-Based Compensation - Schedule of Restricted Stock (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Number of Shares (in thousands)
Outstanding, beginning of period (in shares)	721	550
Shares granted (in shares)	436	441
Shares vested (in shares)	(410)	(249)
Shares forfeited (in shares)	(41)	(21)
Outstanding, end of period (in shares)	706	721	550
Weighted Average Grant Date Fair Value per Share
Outstanding beginning of period (in dollars per share)	$ 9.98	$ 11.81
Shares granted (in dollars per share)	5.12	9.26
Shares vested (in dollars per share)	10.66	12.35
Shares forfeited (in dollars per share)	6.49	9.44
Outstanding end of period (in dollars per share)	$ 6.88	$ 9.98	$ 11.81
Weighted Average Remaining vesting Period (in years)
Weighted average remaining vesting period, outstanding	1 year 6 months 21 days	1 year 5 months 1 day	1 year 2 months 12 days

Description of Business and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP”). The consolidated financial statements include all accounts of KLXE and its subsidiaries. All intercompany transactions and account balances have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and related disclosures. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition Revenue is recognized upon the customer obtaining control of promised goods or services, in an amount that reflects the consideration which is expected to be received in exchange for those goods or services, which generally reflects the amount we have the right to invoice. To determine revenue recognition for arrangements within the scope of Accounting Standards Codification (“ASC”) Topic 606, the following five steps are performed: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. Revenue is recognized in the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Service revenues are recorded over time throughout and for the duration of the service period pursuant to a master services agreement combined with a completed field ticket or a work order. Revenues from product sales are recognized when the customer obtains control of the product, which occurs at a point in time, typically upon delivery in accordance with the terms of the field ticket or work order.
Income Taxes	Income Taxes The Company accounts for deferred income taxes through the asset and liability method. Under this method, a deferred tax liability or asset is recognized for the expected future tax consequences resulting from the differences in financial reporting bases and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the years in which the differences are expected to reverse. A valuation allowance is recorded if it is more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes accrued interest and penalties related to uncertain tax positions, if any, as a component of income tax expense.
Cash Equivalents	Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents consist of cash on hand, and certificates of deposits. The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company maintains its cash and cash equivalents in various financial institutions, which at times may exceed federally insured amounts. Management believes that this risk is not significant.
Accounts Receivable, Net	Accounts Receivable, Net The Company performs ongoing credit evaluations of its customers and adjusts credit limits based upon payment history and the customer’s current creditworthiness, as determined by review of their current credit information. The Company continuously monitors collections and payments from its customers and maintains a provision for estimated credit losses based upon historical experience and any specific customer collection issues that have been identified.
Inventories	Inventories Inventories, made up primarily of dissolvable plugs, supplies, finished goods and other consumables used to perform services for customers. The Company values inventories at the lower of cost or net realizable value and uses the weighted average costing and first-in, first-out methods. Reserves for excess and obsolete inventory were approximately $4.1 and $3.2 as of years ended December 31, 2025 and December 31, 2024, respectively.
Property and Equipment	Property and Equipment Property and equipment is stated at cost and depreciated under the straight-line method over the estimated useful life of the asset. Equipment held under finance leases is stated at the present value of its future minimum lease payments and is depreciated under the straight-line method over the shorter of the lease term or the estimated useful life of the asset. Estimating useful lives of property and equipment requires significant judgment which is influenced by our historical experience in operating property and equipment, technological developments, and expectations of future demand.
Intangible Assets, Net	Intangible Assets, Net Under Financial Accounting Standards Board (“FASB”) ASC Topic 350, Intangibles—Goodwill and Other, indefinite-lived intangible assets are reviewed at least annually for impairment. Acquired intangible assets with definite lives are amortized under the straight-line method over their individual useful lives. As of December 31, 2025 and December 31, 2024, there were net intangible assets, consisting of customer relationships and patents, with definite lives of $1.1 and $1.5, respectively. As of December 31, 2025 and December 31, 2024, intangible assets had gross carrying amount of $5.9 and $5.9 and accumulated amortization of $4.8 and $4.4, respectively, with amortization expense for the years then ended of $0.4 and $0.3, respectively.
Long-Lived Assets	Long‑Lived Assets Long-lived assets, such as property and equipment and purchased intangibles subject to amortization, are tested for impairment when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset may not be recovered. An impairment loss is recognized when the undiscounted cash flows expected to be generated by an asset (or group of assets) is less than its carrying amount. Any required impairment loss is measured as the amount by which the asset’s carrying value exceeds its fair value and is recorded as a reduction in the carrying value of the related asset and a charge to operating results. For the years ended December 31, 2025 and December 31, 2024, there were no impairments of long-lived assets.
Debt Issuance Costs and Original Issue Discount	Debt Issuance Costs The Company capitalizes certain third-party fees directly related to the issuance of debt and amortizes these costs over the life of the debt using the effective interest method. Debt issuance costs related to the Prior ABL Facility and the 2028 ABL Facility are presented net of amortization as a non-current asset. Debt issuance costs related to the Company’s senior secured notes due 2030 (the “2030 Senior Notes”) and senior secured notes due 2025 (the “2025 Senior Notes”) are presented net of amortization as an offset to the liability. Amortized debt issuance costs are included in interest expense and totaled $2.3 for the year ended December 31, 2025 and $2.6 for the year ended December 31, 2024. Original Issue Discount The Company capitalizes the original issue cash discount and the original issue warrant discount, both related to the 2030 Senior Notes, and amortizes these costs over the life of the debt using the effective interest method. These discounts are presented net of amortization as an offset to the liability. Discount amortization is included in interest expense and totaled $2.4 for the year ended December 31, 2025 and $— for the year ended December 31, 2024.
Common Stock Equivalents	Common Stock Equivalents The Company has potential Common Stock equivalents related to its outstanding restricted stock awards and restricted stock units. These potential Common Stock equivalents are not included in diluted loss per share for any period presented in which there is a net loss because the effect would have been anti‑dilutive.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for share-based compensation arrangements in accordance with the provisions of FASB ASC Topic 718, Stock Compensation whereby share-based compensation cost is measured on the date of grant, based on the calculated fair value of the award and recognized as selling, general and administrative expenses in the consolidated statement of operations over the requisite service period. Compensation cost recognized during the years ended December 31, 2025 and December 31, 2024 primarily related to grants of restricted stock and restricted stock units granted or approved by the Board’s compensation committee (the “Compensation Committee”). See Note 11 - Equity and Stock-Based Compensation for additional information related to stock-based compensation.
Concentration of Risk	Concentration of Risk The Company provides products and services to energy industry customers who focus on developing and producing oil and gas onshore in North America. The Company’s management performs ongoing credit evaluations on the financial condition of all of its customers and maintains allowances for uncollectible accounts receivable based on expected collectability. Credit losses have historically been within management’s expectations and the provisions established, see "Accounts Receivable, Net" above. Significant customers change from year to year depending on the level of E&P activity and the use of the Company’s services. During the years ended December 31, 2025 and December 31, 2024, no single customer accounted for more than 10% of the Company’s revenues.
Recent Accounting Pronouncements and Recently Adopted Accounting Standard Updates	Recently Adopted Accounting Standard Updates In December 2023, FASB issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740). This ASU includes specific requirements for the rate reconciliation, income taxes paid and other tax-related disclosures. The Company adopted ASU 2023-09 on January 1, 2025 using a fully retrospective method of transition. Refer to Note 12 - Income Taxes.

Equity and Stock-Based Compensation - Narrative (Details) - USD ($)				3 Months Ended		12 Months Ended
	Mar. 14, 2025	May 10, 2023	Jun. 14, 2021	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)				$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock, increase (decrease) in capital (in shares)		1,200,000
Common stock reserved for future issuance (in shares)		1,256,289
Share based compensation expense, net						$ 2,600,000	$ 3,900,000
Unrecognized compensation cost				$ 3,000,000.0	$ 3,900,000	$ 3,000,000.0	3,900,000
At The Market Offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)			$ 0.01
Maximum consideration on transaction	$ 57,800,000		$ 50,000,000.0
Commission fee percentage			3.00%
Number of shares issued in transaction (in shares)				0		167,769
Consideration received on transaction				$ 0	0	$ 600,000	0
Payments of stock issuance costs				$ 0	$ 300,000	$ 300,000	$ 500,000

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following:


	December 31, 2025		December 31, 2024
Accrued compensation and employee benefits	$	14.3	$	27.9
Accrued property taxes	1.6		1.8
Accrued taxes other than property	2.2		3.5
Other accrued liabilities	7.9		8.1
Total accrued liabilities	$	26.0	$	41.3

Leases - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Operating lease fixed cost	$ 8.4	$ 9.2
Finance lease fixed cost	20.0	24.0
Interest on finance lease liabilities	3.7	4.8
Lease variable cost	5.2	5.5
Total lease cost	$ 37.3	$ 43.5

Segment Reporting - Capital Expenditures by Reportable Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Total capital expenditures	$ 49.1	$ 65.1
Unallocated corporate capital expenditures
Property, Plant and Equipment [Line Items]
Total capital expenditures	0.6	0.4
Rocky Mountains \| Operating Segments
Property, Plant and Equipment [Line Items]
Total capital expenditures	9.7	14.5
Southwest \| Operating Segments
Property, Plant and Equipment [Line Items]
Total capital expenditures	15.7	24.1
Northeast /Mid-Con \| Operating Segments
Property, Plant and Equipment [Line Items]
Total capital expenditures	$ 23.1	$ 26.1

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Cash flows from operating activities:
Net loss	$ (77.1)	$ (53.0)
Adjustments to reconcile net loss to net cash flows from operating activities
Depreciation and amortization	95.2	94.0
Non-cash compensation	2.6	3.9
Amortization of deferred financing fees	4.7	2.6
Provision for inventory reserve	1.3	0.9
Gain on disposal of property, equipment and other	(11.0)	(11.9)
Non-cash interest expense	16.6	0.0
Loss on debt extinguishment	1.2	0.0
Other	0.7	(0.6)
Changes in operating assets and liabilities:
Accounts receivable	(6.0)	30.6
Inventories	(1.8)	1.4
Prepaid expenses and other current and non-current assets	7.9	14.0
Accounts payable	(2.0)	(16.6)
Other current and non-current liabilities	(24.8)	(11.1)
Net cash flows provided by operating activities	7.5	54.2
Cash flows from investing activities:
Purchases of property and equipment	(49.1)	(65.1)
Proceeds from sale of property and equipment and other	16.2	14.0
Net cash flows used in investing activities	(32.9)	(51.1)
Cash flows from financing activities:
Borrowings under 2028 ABL Facility	139.0	0.0
Proceeds from issuance of 2030 Senior Notes and warrants	225.2	0.0
Payments on finance lease obligations	(19.9)	(21.6)
Payments of debt issuance costs	(10.5)	(0.9)
Proceeds from note payable	6.5	5.4
Change in financed payables	(6.6)	(6.1)
Other	(0.1)	(0.8)
Net cash flows used in financing activities	(60.5)	(24.0)
Net change in cash and cash equivalents	(85.9)	(20.9)
Cash and cash equivalents, beginning of period	91.6	112.5
Cash and cash equivalents, end of period	5.7	91.6
Supplemental disclosures of cash flow information:
Cash paid during period for interest	27.8	37.1
Supplemental schedule of non-cash activities:
Accrued capital expenditures	9.1	12.7
Non-cash interest expense (paid in kind)	16.6	0.0
Debt-for-equity exchanges	0.0	1.0
2028 ABL Facility
Cash flows from financing activities:
Repayments on ABL facility	(103.0)	0.0
Prior ABL Facility
Cash flows from financing activities:
Repayments on ABL facility	(50.0)	0.0
2025 Senior Notes
Cash flows from financing activities:
Repayments of senior notes	(236.3)	0.0
2030 Senior Notes
Cash flows from financing activities:
Repayments of senior notes	$ (4.8)	$ 0.0

Leases (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Schedule of Lease Expense and Supplemental Cash Flow Information Related to Leases

The components of lease expense were as follows:


	Year Ended
	December 31, 2025		December 31, 2024
Operating lease fixed cost	$	8.4	$	9.2
Finance lease fixed cost	20.0		24.0
Interest on finance lease liabilities	3.7		4.8
Lease variable cost	5.2		5.5
Total lease cost	$	37.3	$	43.5

Supplemental cash flow information related to leases was as follows:


	Year Ended
	December 31, 2025		December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	8.8	$	8.7
Operating cash flows for finance leases	3.6		4.8
Financing cash flows for finance leases	19.9		21.6

ROU assets obtained in exchange for lease obligations:
Operating leases	$	9.4	$	4.9
Finance leases	20.7		3.9

Schedule of Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases was as follows:


	Year Ended
	December 31, 2025			December 31, 2024
Operating Leases
Operating lease assets	$	22.3		$	19.6

Current portion of operating lease liabilities	$	7.1		$	6.9
Long-term operating lease liabilities	15.9			13.5
Total operating lease liabilities	$	23.0		$	20.4

Finance Leases
Property and equipment, net	$	34.8		$	38.9
Total finance lease assets	$	34.8		$	38.9

Current portion of finance lease liabilities	$	19.6		$	13.0
Long-term finance lease liabilities	17.4			26.4
Total finance lease liabilities	$	37.0		$	39.4

Weighted Average Remaining Lease Term
Operating leases (in years)	4.4			3.1
Finance leases (in years)	2.9			2.2

Weighted Average Discount Rate
Operating leases	11.8		%	9.0		%
Finance leases	12.5		%	10.3		%

Schedule of Operating Lease Maturity

Maturities of lease liabilities were as follows:


Years ending December 31,	Operating Leases		Finance Leases
2026	$	9.4	$	22.8
2027	7.2		7.9
2028	4.5		6.5
2029	2.6		5.2
2030	1.7		1.4
Thereafter	5.4		—
Total lease payments	30.8		43.8
Less: imputed interest	(7.8)		(6.8)
Total	$	23.0	$	37.0

Schedule of Finance Lease Maturity

Maturities of lease liabilities were as follows:


Years ending December 31,	Operating Leases		Finance Leases
2026	$	9.4	$	22.8
2027	7.2		7.9
2028	4.5		6.5
2029	2.6		5.2
2030	1.7		1.4
Thereafter	5.4		—
Total lease payments	30.8		43.8
Less: imputed interest	(7.8)		(6.8)
Total	$	23.0	$	37.0

Description of Business and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Allowance for Doubtful Accounts

Activity in our allowance for doubtful accounts during the years ended December 31, 2025 and December 31, 2024 is set forth in the table below:


Allowance for doubtful accounts	Balance at beginning of period		Charged (credited) to costs and expenses		Deductions (1)		Balance at end of period
December 31, 2025	$	4.2	$	1.4	$	(3.9)	$	1.7
December 31, 2024	$	5.5	$	0.6	$	(1.9)	$	4.2

* ASC Topic 326, Financial Instruments - Credit Losses.

(1) Accounts receivable balances written off during the period, net of recoveries.

Leases - Supplemental Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Operating Leases
Operating lease assets	$ 22.3	$ 19.6
Current portion of operating lease liabilities	7.1	6.9
Long-term operating lease liabilities	15.9	13.5
Total operating lease liabilities	23.0	20.4
Finance Leases
Total finance lease assets	34.8	38.9
Current portion of finance lease liabilities	19.6	13.0
Long-term finance lease liabilities	17.4	26.4
Total finance lease liabilities	$ 37.0	$ 39.4
Weighted Average Remaining Lease Term
Operating leases (in years)	4 years 4 months 24 days	3 years 1 month 6 days
Finance leases (in years)	2 years 10 months 24 days	2 years 2 months 12 days
Weighted Average Discount Rate
Operating leases	11.80%	9.00%
Finance leases	12.50%	10.30%

Income Taxes - Schedule of Income Taxes Paid, Net Of Refunds Received (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Tax Paid, by Individual Jurisdiction [Line Items]
Federal	$ 0.0	$ 2.2
State
Total State	1.0	1.1
Total income taxes paid, net	1.0	3.3
Texas
State
Total State	0.8	1.0
Colorado
State
Total State	0.1	0.0
Other
State
Total State	$ 0.1	$ 0.1

Recent Accounting Pronouncements	12 Months Ended
Recent Accounting Pronouncements	Dec. 31, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Standard Updates In December 2023, FASB issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740). This ASU includes specific requirements for the rate reconciliation, income taxes paid and other tax-related disclosures. The Company adopted ASU 2023-09 on January 1, 2025 using a fully retrospective method of transition. Refer to Note 12 - Income Taxes.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Outstanding long-term debt consisted of the following:


	December 31, 2025		December 31, 2024
2025 Senior Notes	$	—	$	236.3
2030 Senior Notes	244.1		—
Prior ABL Facility	—		50.0
2028 ABL Facility	36.0		—
Total principal outstanding	280.1		286.3
Less: Unamortized debt issuance costs	(6.2)		(1.2)
Less: Unamortized original issue discount	(15.6)		—
Total debt	258.3		285.1
Less: Current portion of long-term debt	4.4		—
Long-term debt	$	253.9	$	285.1

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 8.8	$ 8.7
Operating cash flows for finance leases	3.6	4.8
Financing cash flows for finance leases	19.9	21.6
ROU assets obtained in exchange for lease obligations:
Operating leases	9.4	4.9
Finance leases	$ 20.7	$ 3.9

Employee Retirement Plans (Details) - 401K Retirement Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Defined Contribution Plan Disclosure [Line Items]
Employer match percent (as a percent)	50.00%
Percent of employees' gross pay contributed (as a percent)	6.00%
Defined benefit plan vesting period	3 years
Defined benefit plan expense	$ 3.2	$ 3.4
KLX 401(k) Plan
Defined Contribution Plan Disclosure [Line Items]
Contribution rate (as a percent)	100.00%

Equity and Stock-Based Compensation

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Equity and Stock-Based Compensation

Equity Distribution Agreement

On June 14, 2021, the Company entered into an Equity Distribution Agreement (the “Equity Distribution Agreement”) with Piper Sandler & Co. as sales agent (the “Agent”). Pursuant to the terms of the Equity Distribution Agreement, the Company may sell from time to time through the Agent (the “ATM Offering”) the Company’s Common Stock, par value $0.01 per share, having an aggregate offering price of up to $50.0. On November 16, 2022, the Company entered into Amendment No. 1 to the Equity Distribution Agreement, which, among other things, allows for debt-for-equity exchanges in accordance with Section 3(a)(9) of the Securities Act. On March 14, 2025, the Company entered into Amendment No. 2 to the Equity Distribution Agreement (the “EDA Amendment”), which, among other things, increased the aggregate offering price to up to approximately $57.8 (which amount includes all of the Common Stock previously sold pursuant to the Equity Distribution Agreement prior to the EDA Amendment) and provides for the Company’s election not to deliver a placement notice.

Any Common Stock offered and sold in the ATM Offering may be issued pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-271182) filed with the SEC on April 7, 2023 and declared effective on April 19, 2023 (the “Registration Statement”), the prospectus supplement relating to the ATM Offering filed with the SEC on March 14, 2025 and any applicable additional prospectus supplements related to the ATM Offering that form a part of the Registration Statement. Sales of Common Stock under the Equity Distribution Agreement, as amended to date, may be made in any transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act. As of the filing of this Annual Report, the Company is subject to the General Instruction I.B.6 to Form S-3, known as the “baby shelf” rule, which limits the amount of securities we can sell under the Registration Statement in any 12-month period.

The Equity Distribution Agreement contains customary representations, warranties and agreements by the Company, indemnification obligations of the Company and the Agent, including for liabilities under the Securities Act, other obligations of the parties and termination provisions. Under the terms of the Equity Distribution Agreement, the Company will pay the Agent a commission equal to 3.0% of the gross sales price of the Common Stock sold.

The Company has used and plans to use the net proceeds from the ATM Offering, after deducting the Agent’s commissions and the Company’s offering expenses, for general corporate purposes, which may include, among other things, paying or refinancing all or a portion of the Company's then-outstanding indebtedness and funding acquisitions, capital expenditures and working capital.

During the three and twelve months ended December 31, 2025, the Company sold — and 167,769 shares of Common Stock, respectively, in exchange for gross proceeds of $— and $0.6, respectively, and incurred legal and administrative fees of $— and $0.3, respectively. During the three and twelve months ended December 31, 2024, the Company did not sell any shares of Common Stock and incurred legal and administrative fees of $0.3 and $0.5, respectively.

The Company has a Long-Term Incentive Plan (“LTIP”) under which the Compensation Committee has the authority to grant stock options, stock appreciation rights, restricted stock, restricted stock units or other forms of equity-based or equity-related awards. Compensation cost for the LTIP grants is generally recorded on a

straight-line basis over the vesting term of the shares based on the grant date value using the closing trading price.

An amendment to the LTIP was approved by stockholders on May 10, 2023 to, among other things, increase the total number of shares of Common Stock for issuance by 1,200,000 shares, resulting in an increase of the total number of shares of our Common Stock reserved for issuance to 1,256,289, and extend the expiration date to March 8, 2033.

Stock-based compensation cost recognized during the years ended December 31, 2025 and December 31, 2024 related to grants of restricted stock granted by or approved by the Compensation Committee. Stock-based compensation was $2.6 and $3.9 for the years ended December 31, 2025 and December 31, 2024, respectively. Unrecognized compensation cost related to restricted stock awards made by the Company was $3.0 at December 31, 2025 and $3.9 at December 31, 2024.

The following table summarizes shares of restricted stock awards that were granted, vested, forfeited and outstanding:


	Year Ended
	December 31, 2025				December 31, 2024
	Number of Shares (in thousands)	Weighted Average Grant Date Fair Value per Share		Weighted Average Remaining vesting Period (in years)	Number of Shares (in thousands)	Weighted Average Grant Date Fair Value per Share		Weighted Average Remaining vesting Period (in years)
Outstanding, beginning of period	721	$	9.98	1.42	550	$	11.81	1.20
Shares granted	436	5.12			441	9.26
Shares vested	(410)	10.66			(249)	12.35
Shares forfeited	(41)	6.49			(21)	9.44
Outstanding, end of period	706	$	6.88	1.56	721	$	9.98	1.42

Net Loss Per Common Share - Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Earnings Per Share [Abstract]
Net loss	$ (77.1)	$ (53.0)
Basic weighted average common shares (in shares)	18.7	16.2
Effect of dilutive securities - dilutive securities (in shares)	0.0	0.0
Diluted weighted average common shares (in shares)	18.7	16.2
Basic net loss per common share (in dollars per share)	$ (4.12)	$ (3.27)
Diluted net loss per common share (in dollars per share)	$ (4.12)	$ (3.27)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

Fair Value Information

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Information

All financial instruments are carried at amounts that approximate estimated fair value. The fair value is the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. Assets measured at fair value are categorized based upon the lowest level of significant input to the valuations.

Level 1 – quoted prices in active markets for identical assets and liabilities.

Level 2 – quoted prices for identical assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical assets and liabilities.

Level 3 – unobservable inputs in which there is little or no market data available, which require the reporting entity to develop its own assumptions.

The carrying amounts of cash and cash equivalents, accounts receivable-trade and accounts payable represent their respective fair values due to their short-term nature. There was $36.0 debt outstanding under the 2028 ABL Facility as of December 31, 2025 and $50.0 debt outstanding under the Prior ABL Facility as of December 31, 2024. The fair value of each the 2028 ABL Facility and the Prior ABL Facility approximates each of their respective carrying values as of year-end.

The following tables present the placement in the fair value hierarchy of the 2025 Senior Notes, based on market prices for publicly traded debt, as of December 31, 2025 and December 31, 2024:


			Fair value measurements at reporting date using
	December 31, 2025		Level 1		Level 2		Level 3
2030 Senior Notes	$	246.0	$	—	$	—	$	246.0


Total Senior Notes	$	246.0	$	—	$	—	$	246.0


			Fair value measurements at reporting date using
	December 31, 2024		Level 1		Level 2		Level 3
2025 Senior Notes	$	231.2	$	—	$	231.2	$	—


Total Senior Notes	$	231.2	$	—	$	231.2	$	—

The following tables present the placement in the fair value hierarchy of Assets Held for Sale, as disclosed in Note 4, based on sales contracts and comparative price quotes, as of December 31, 2025 and December 31, 2024:

Fair value measurements at reporting date using

December 31, 2025

Level 1

Level 2

Level 3

Assets Held for Sale

—

Total Assets Held for Sale

—


			Fair value measurements at reporting date using
	December 31, 2024		Level 1		Level 2		Level 3
Assets Held for Sale	$	2.3	$	—	$	2.3	$	—
Total Assets Held for Sale	$	2.3	$	—	$	2.3	$	—

During the years ended December 31, 2025 and December 31, 2024, there was $0.2 and no before-tax loss related to Assets Held for Sale, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
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-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Debt Instrument [Line Items]
Long term debt, gross	$ 280.1	$ 286.3
Less: Unamortized debt issuance costs	(6.2)	(1.2)
Less: Unamortized original issue discount	(15.6)	0.0
Total debt	258.3	285.1
Less: Current portion of long-term debt	4.4	0.0
Long-term debt	253.9	285.1
2025 Senior Notes
Debt Instrument [Line Items]
Long term debt, gross	0.0	236.3
Total debt		235.1
2030 Senior Notes
Debt Instrument [Line Items]
Long term debt, gross	244.1	0.0
Total debt	222.3
Prior ABL Facility
Debt Instrument [Line Items]
Long term debt, gross	0.0	50.0
2028 ABL Facility
Debt Instrument [Line Items]
Long term debt, gross	$ 36.0	$ 0.0

Net Loss Per Common Share (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Loss Per Share

The computations of basic and diluted net loss per share for the years ended December 31, 2025 and December 31, 2024 are as follows:


	Year Ended
	December 31, 2025		December 31, 2024
Net loss	$	(77.1)	$	(53.0)
(Shares in millions)
Basic weighted average common shares	18.7		16.2
Effect of dilutive securities - dilutive securities	—		—
Diluted weighted average common shares	18.7		16.2

Basic net loss per common share	$	(4.12)	$	(3.27)
Diluted net loss per common share	$	(4.12)	$	(3.27)

Inventories, net - Schedule of Inventory (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Spare parts	$ 19.3	$ 20.5
Plugs	9.0	8.0
Consumables	4.6	3.9
Other	1.9	1.8
Subtotal	34.8	34.2
Less: Inventory reserve	(4.1)	(3.2)	$ (4.5)
Total inventories, net	$ 30.7	$ 31.0

Inventories, net - Reserve for Inventory (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Reserve for Inventory [Roll Forward]
Balance at beginning of period	$ 3.2	$ 4.5
Charged to costs and expenses	1.3	1.0
Deductions	(0.4)	(2.3)
Balance at end of period	$ 4.1	$ 3.2

Inventories, net (Tables)

12 Months Ended

Dec. 31, 2025

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventories consisted of the following:


	December 31, 2025		December 31, 2024
Spare parts	$	19.3	$	20.5
Plugs	9.0		8.0
Consumables	4.6		3.9
Other	1.9		1.8
Subtotal	34.8		34.2
Less: Inventory reserve	(4.1)		(3.2)
Total inventories, net	$	30.7	$	31.0

Schedule of Changes in Reserve for Inventory Accounts

Activity in the reserve for inventory accounts during the years ended December 31, 2025 and December 31, 2024 is set forth in the table below:


Reserve for inventory	Balance at beginning of period		Charged to costs and expenses		Deductions (1)		Balance at end of period
December 31, 2025	$	3.2	$	1.3	$	(0.4)	$	4.1
December 31, 2024	$	4.5	$	1.0	$	(2.3)	$	3.2

(1) Reserve for inventory balances written off during the period, net of recoveries.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2025
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Subsequent events have been evaluated through the date of issuance of these financial statements, and there have been no events subsequent to December 31, 2025, other than those items disclosed below, that would require additional adjustments to our disclosure in our financial statements during the period. On March 6, 2026, the requisite holders agreed to execute the First Amendment to the 2030 Senior Notes Indenture (the “First Amendment to the Indenture”) to provide financial covenant relief in the form of (i) extending the period for which the maximum total net leverage ratio covenant is tested at 4.50 to 1.0 through and including the testing period ending March 31, 2027, stepping down to 3.50 to 1.0 for the testing periods ending June 30, 2027 through and including March 31, 2028, to 3.00 to 1.0 for the testing periods ending June 30, 2028 through and including March 31, 2029, and to 2.50 to 1.0 for the testing periods ending June 30, 2029 and thereafter, (ii) a temporary holiday to exclude capital lease obligations as indebtedness for the purposes of determining compliance with the maximum total net leverage ratio covenant for the testing periods ending December 31, 2025 through and including March 31, 2027 and (iii) clarifying that proceeds from our ATM Offering program may be applied as an equity cure. The First Amendment to the Indenture also establishes additional debt and lien baskets to permit the issuance of letters of credit by third parties for the Company’s account in favor of insurers in connection with a $6.7 substitute insurance collateral facility. There is no certainty that, following the First Amendment to the Indenture, we will continue being able to comply with our covenants or that we will be able to obtain future amendments in the event we are unable to comply with our covenants. In connection with our entry into the First Amendment to the Indenture, on March 6, 2026, we issued Warrants to our noteholders, based on their pro rata ownership of principal amount of the 2030 Senior Notes, providing for the purchase of up to 803,712 shares of Common Stock at an exercise price of $0.01 per share, subject to adjustment, pursuant to Section 4(a)(2) of the Securities Act. Under the warrant agreements governing the Warrants, the Company undertakes to file a registration statement with SEC with respect to the shares of Common Stock underlying the Warrants within 90 days of their issuance, providing for registered resale pursuant thereto.

Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($)
$ in Millions

Dec. 31, 2025

Dec. 31, 2024

Property, Plant and Equipment [Line Items]

ROU assets - finance leases

$ 84.9

$ 83.9

Less: Accumulated depreciation

(512.3)

(461.1)

Total property and equipment, net

^[1]

161.1

197.1

Depreciable Property, Plant and Equipment

Property, Plant and Equipment [Line Items]

Total property and equipment

669.4

652.6

Land, buildings and improvements

Property, Plant and Equipment [Line Items]

Property and equipment, gross

$ 36.1

36.3

Land, buildings and improvements | Minimum

Property, Plant and Equipment [Line Items]

Useful Life (Years)

1 year

Land, buildings and improvements | Maximum

Property, Plant and Equipment [Line Items]

Useful Life (Years)

40 years

Machinery

Property, Plant and Equipment [Line Items]

Property and equipment, gross

$ 299.8

289.0

Machinery | Minimum

Property, Plant and Equipment [Line Items]

Useful Life (Years)

1 year

Machinery | Maximum

Property, Plant and Equipment [Line Items]

Useful Life (Years)

20 years

Equipment and furniture

Property, Plant and Equipment [Line Items]

Property and equipment, gross

$ 248.6

243.4

Equipment and furniture | Minimum

Property, Plant and Equipment [Line Items]

Useful Life (Years)

1 year

Equipment and furniture | Maximum

Property, Plant and Equipment [Line Items]

Useful Life (Years)

15 years

ROU assets - finance leases | Minimum

Property, Plant and Equipment [Line Items]

Useful Life (Years)

1 year

ROU assets - finance leases | Maximum

Property, Plant and Equipment [Line Items]

Useful Life (Years)

20 years

Add: Construction in progress

Property, Plant and Equipment [Line Items]

Property and equipment, gross

$ 4.0

$ 5.6

[1]	Includes right-of-use ("ROU") assets - finance leases. See Note 4 - Property and Equipment, Net and Note 7 - Leases.

Income Taxes - Net Income (loss) before Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Net loss before income tax	$ (76.3)	$ (52.4)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

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+ Details

Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

The Company, as part of its normal business operations, leases certain equipment, vehicles, manufacturing facilities, and office space under various operating and finance leases. We determine if an arrangement is or contains a lease at the lease inception date by evaluating whether the arrangement conveys the right to use an identified asset and whether the Company obtains substantially all of the economic benefits and has the ability to direct the use of the underlying asset. Leases with an initial term of twelve months or less meet the definition of a short-term lease and are not recorded on the balance sheet.

At the lease commencement date, the Company recognized a lease liability and an ROU asset representing its right to use the underlying asset over the lease term. The initial measurement of the lease liability is calculated on the basis of the present value of the remaining lease payments and the ROU asset is measured on the basis of this liability, adjusted by prepaid and accrued rent, lease incentives, and initial direct costs. The subsequent measurement of a lease is dependent on whether the lease is classified as an operating lease or a finance lease. Operating lease cost is recognized on a straight-line basis over the lease term, with the cost presented as a component of the Selling, general and administrative expenses line item in the Consolidated Statement of Operations. Finance lease cost is comprised of a separate interest component and amortization component and is presented as a component of the Interest expense, net and Depreciation and amortization line items, respectively, in the Consolidated Statement of Operations.

ASU 2016-02, Leases (Topic 842), requires that a lessee use the rate implicit in the lease when measuring the lease liability and ROU asset, when available. Alternatively, the Company is permitted to use its incremental borrowing rate which is defined as the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Since the rate implicit in the lease is not readily determinable, the Company uses its incremental borrowing rate when measuring its leases. We estimate our incremental borrowing rate to discount the lease payments at the lease commencement date based on credit adjusted interest rates available to us over the lease term.

The Company does not have any material leases that have not yet commenced that would create significant rights and obligations, nor does it have any material leases with related parties. Additionally, the Company’s leases do not impose any restrictions or covenants on us. Short-term lease expense is not material for the Company.

The components of lease expense were as follows:


	Year Ended
	December 31, 2025		December 31, 2024
Operating lease fixed cost	$	8.4	$	9.2
Finance lease fixed cost	20.0		24.0
Interest on finance lease liabilities	3.7		4.8
Lease variable cost	5.2		5.5
Total lease cost	$	37.3	$	43.5

Supplemental cash flow information related to leases was as follows:


	Year Ended
	December 31, 2025		December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	8.8	$	8.7
Operating cash flows for finance leases	3.6		4.8
Financing cash flows for finance leases	19.9		21.6

ROU assets obtained in exchange for lease obligations:
Operating leases	$	9.4	$	4.9
Finance leases	20.7		3.9

Supplemental balance sheet information related to leases was as follows:


	Year Ended
	December 31, 2025			December 31, 2024
Operating Leases
Operating lease assets	$	22.3		$	19.6

Current portion of operating lease liabilities	$	7.1		$	6.9
Long-term operating lease liabilities	15.9			13.5
Total operating lease liabilities	$	23.0		$	20.4

Finance Leases
Property and equipment, net	$	34.8		$	38.9
Total finance lease assets	$	34.8		$	38.9

Current portion of finance lease liabilities	$	19.6		$	13.0
Long-term finance lease liabilities	17.4			26.4
Total finance lease liabilities	$	37.0		$	39.4

Weighted Average Remaining Lease Term
Operating leases (in years)	4.4			3.1
Finance leases (in years)	2.9			2.2

Weighted Average Discount Rate
Operating leases	11.8		%	9.0		%
Finance leases	12.5		%	10.3		%

Maturities of lease liabilities were as follows:


Years ending December 31,	Operating Leases		Finance Leases
2026	$	9.4	$	22.8
2027	7.2		7.9
2028	4.5		6.5
2029	2.6		5.2
2030	1.7		1.4
Thereafter	5.4		—
Total lease payments	30.8		43.8
Less: imputed interest	(7.8)		(6.8)
Total	$	23.0	$	37.0

Leases

The components of lease expense were as follows:


	Year Ended
	December 31, 2025		December 31, 2024
Operating lease fixed cost	$	8.4	$	9.2
Finance lease fixed cost	20.0		24.0
Interest on finance lease liabilities	3.7		4.8
Lease variable cost	5.2		5.5
Total lease cost	$	37.3	$	43.5

Supplemental cash flow information related to leases was as follows:


	Year Ended
	December 31, 2025		December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	8.8	$	8.7
Operating cash flows for finance leases	3.6		4.8
Financing cash flows for finance leases	19.9		21.6

ROU assets obtained in exchange for lease obligations:
Operating leases	$	9.4	$	4.9
Finance leases	20.7		3.9

Supplemental balance sheet information related to leases was as follows:


	Year Ended
	December 31, 2025			December 31, 2024
Operating Leases
Operating lease assets	$	22.3		$	19.6

Current portion of operating lease liabilities	$	7.1		$	6.9
Long-term operating lease liabilities	15.9			13.5
Total operating lease liabilities	$	23.0		$	20.4

Finance Leases
Property and equipment, net	$	34.8		$	38.9
Total finance lease assets	$	34.8		$	38.9

Current portion of finance lease liabilities	$	19.6		$	13.0
Long-term finance lease liabilities	17.4			26.4
Total finance lease liabilities	$	37.0		$	39.4

Weighted Average Remaining Lease Term
Operating leases (in years)	4.4			3.1
Finance leases (in years)	2.9			2.2

Weighted Average Discount Rate
Operating leases	11.8		%	9.0		%
Finance leases	12.5		%	10.3		%

Maturities of lease liabilities were as follows:


Years ending December 31,	Operating Leases		Finance Leases
2026	$	9.4	$	22.8
2027	7.2		7.9
2028	4.5		6.5
2029	2.6		5.2
2030	1.7		1.4
Thereafter	5.4		—
Total lease payments	30.8		43.8
Less: imputed interest	(7.8)		(6.8)
Total	$	23.0	$	37.0

Subsequent Events (Details) $ / shares in Units, $ in Millions	Jun. 30, 2029	Mar. 31, 2029	Mar. 31, 2028	Mar. 31, 2027	Mar. 06, 2026 USD ($) $ / shares shares
Subsequent Event
Subsequent Event [Line Items]
Warrants issued for the purchase of common stock (in shares) \| shares					803,712
Class of warrant or right, exercise price of warrants or rights \| $ / shares					$ 0.01
Senior Secured Notes Due 2030, First Amendment \| Subsequent Event
Subsequent Event [Line Items]
Debt instrument, collateral amount \| $					$ 6.7
Senior Secured Notes Due 2030, First Amendment \| Forecast
Subsequent Event [Line Items]
Net leverage ratio	2,500,000	3,000,000.00	3,500,000	4,500,000

Equity and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Stock

The following table summarizes shares of restricted stock awards that were granted, vested, forfeited and outstanding:


	Year Ended
	December 31, 2025				December 31, 2024
	Number of Shares (in thousands)	Weighted Average Grant Date Fair Value per Share		Weighted Average Remaining vesting Period (in years)	Number of Shares (in thousands)	Weighted Average Grant Date Fair Value per Share		Weighted Average Remaining vesting Period (in years)
Outstanding, beginning of period	721	$	9.98	1.42	550	$	11.81	1.20
Shares granted	436	5.12			441	9.26
Shares vested	(410)	10.66			(249)	12.35
Shares forfeited	(41)	6.49			(21)	9.44
Outstanding, end of period	706	$	6.88	1.56	721	$	9.98	1.42

Accrued Liabilities

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

Accrued Liabilities

Accrued liabilities consisted of the following:


	December 31, 2025		December 31, 2024
Accrued compensation and employee benefits	$	14.3	$	27.9
Accrued property taxes	1.6		1.8
Accrued taxes other than property	2.2		3.5
Other accrued liabilities	7.9		8.1
Total accrued liabilities	$	26.0	$	41.3

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2023		16.9
Beginning balance at Dec. 31, 2023	$ 38.8	$ 0.1	$ 553.4	$ (5.3)	$ (509.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures	3.6		3.6
Purchase of treasury stock	(0.5)			(0.5)
Issuance of Common Stock, net of cost (in shares)		0.6
Issuance of Common Stock, net of cost	0.6	$ 0.1	0.5
Net loss	(53.0)				(53.0)
Ending balance (in shares) at Dec. 31, 2024		17.5
Ending balance at Dec. 31, 2024	(10.5)	$ 0.2	557.5	(5.8)	(562.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures	2.5		2.5
Purchase of treasury stock	(0.4)			(0.4)
Issuance of Common Stock, net of cost (in shares)		0.6
Issuance of Common Stock, net of cost	0.3	$ 0.0	0.3
Issuance of warrants	11.0		11.0
Exercise of warrants (in shares)		0.8
Exercise of warrants	0.0	$ 0.0	0.0
Net loss	(77.1)				(77.1)
Ending balance (in shares) at Dec. 31, 2025		18.9
Ending balance at Dec. 31, 2025	$ (74.2)	$ 0.2	$ 571.3	$ (6.2)	$ (639.5)

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1.7	$ 4.2
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	110,000,000.0	110,000,000.0
Common stock, shares issued (in shares)	18,900,000	17,500,000
Treasury stock (in shares)	500,000	500,000

Fair Value Information (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Placement in the Fair Value Hierarchy of Notes and Assets Held for Sale

The following tables present the placement in the fair value hierarchy of the 2025 Senior Notes, based on market prices for publicly traded debt, as of December 31, 2025 and December 31, 2024:


			Fair value measurements at reporting date using
	December 31, 2025		Level 1		Level 2		Level 3
2030 Senior Notes	$	246.0	$	—	$	—	$	246.0


Total Senior Notes	$	246.0	$	—	$	—	$	246.0


			Fair value measurements at reporting date using
	December 31, 2024		Level 1		Level 2		Level 3
2025 Senior Notes	$	231.2	$	—	$	231.2	$	—


Total Senior Notes	$	231.2	$	—	$	231.2	$	—

Fair value measurements at reporting date using

December 31, 2025

Level 1

Level 2

Level 3

Assets Held for Sale

—

Total Assets Held for Sale

—


			Fair value measurements at reporting date using
	December 31, 2024		Level 1		Level 2		Level 3
Assets Held for Sale	$	2.3	$	—	$	2.3	$	—
Total Assets Held for Sale	$	2.3	$	—	$	2.3	$	—

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Revenues and Operating Income (Loss) by Reportable Segment

The following tables present revenues, significant expenses and operating income (loss) by reportable segment:


	Year Ended
		December 31, 2025
		Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Revenues		$	199.2	$	232.5	$	206.3	$	(1.4)	$	636.6
Less
Cost of sales		154.2		188.1		157.5		(1.4)
Depreciation and amortization		25.5		33.4		34.1
Selling, general and administrative(1)		7.5		12.1		6.0
Other segment items		6.3		2.4		5.1
Segment operating income (loss)		$	5.7	$	(3.5)	$	3.6	$	—	$	5.8
Reconciliation of profit or loss (segment profit/(loss))
Unallocated corporate expenses(2)										(36.1)
Interest income										0.4
Interest expense										(45.2)
Loss on debt extinguishment										(1.2)
Loss before income tax										$	(76.3)


	Year Ended
		December 31, 2024
		Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Revenues		$	229.1	$	270.7	$	211.6	$	(2.1)	$	709.3
Less
Cost of sales		164.6		218.4		164.9		(2.1)
Depreciation and amortization		27.3		30.8		34.1
Selling, general and administrative(1)		7.7		12.7		6.6
Other segment items		5.9		4.8		3.8
Segment operating income		$	23.6	$	4.0	$	2.2	$	—	$	29.8
Reconciliation of profit or loss (segment profit/(loss))
Unallocated corporate expenses(2)										(45.3)
Interest income										2.5
Interest expense										(39.4)
Loss before income tax										$	(52.4)

Schedule of Revenues by Service Offering by Reportable Segment

The following tables present revenues by service offering by reportable segment:


	Year Ended
	December 31, 2025
	Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Drilling	$	23.0	$	43.8	$	45.5	$	(1.4)	$	110.9
Completion	107.6		121.9		127.0				356.5
Production	50.3		41.7		15.3				107.3
Intervention	18.3		25.1		18.5				61.9
Total revenues	$	199.2	$	232.5	$	206.3	$	(1.4)	$	636.6



	December 31, 2024
	Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Drilling	$	24.6	$	76.3	$	57.3	$	(2.1)	$	156.1
Completion	123.8		125.6		123.3				372.7
Production	58.2		37.9		14.6				110.7
Intervention	22.5		30.9		16.4				69.8
Total revenues	$	229.1	$	270.7	$	211.6	$	(2.1)	$	709.3

Schedule of Total Assets by Reportable Segment

The following table presents total assets by segment:


	December 31, 2025		December 31, 2024
Rocky Mountains	$	103.0	$	114.0
Southwest	139.2		152.3
Northeast/Mid-Con	92.4		98.4
Total	334.6		364.7
Unallocated corporate assets	5.7		91.6
Total assets	$	340.3	$	456.3

Schedule of Capital Expenditures by Reportable Segment

The following table presents capital expenditures by reportable segment:


	Year Ended
	December 31, 2025		December 31, 2024
Rocky Mountains	$	9.7	$	14.5
Southwest	15.7		24.1
Northeast/Mid-Con	23.1		26.1
Unallocated corporate capital expenditures	0.6		0.4
Total capital expenditures	$	49.1	$	65.1

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 74.9	$ 69.7
Finance lease fixed cost	20.0	24.0
Assets held-for-sale	$ 0.0	$ 2.3

Consolidated Balance Sheets - USD ($)
$ in Millions

Dec. 31, 2025

Dec. 31, 2024

Current assets:

Cash and cash equivalents

$ 5.7

$ 91.6

Accounts receivable–trade, net of allowance of $1.7 and $4.2

102.7

96.9

Inventories, net

30.7

31.0

Prepaid expenses and other current assets

10.8

13.5

Total current assets

149.9

233.0

Property and equipment, net

^[1]

161.1

197.1

Operating lease assets

22.3

19.6

Intangible assets, net

1.1

1.5

Other assets

5.9

5.1

Total assets

340.3

456.3

Current liabilities:

Accounts payable

68.7

74.4

Accrued interest

0.4

4.5

Accrued liabilities

26.0

41.3

Current portion of long-term debt

4.4

0.0

Current portion of operating lease liabilities

7.1

6.9

Current portion of finance lease liabilities

19.6

13.0

Total current liabilities

126.2

140.1

Long-term debt

253.9

285.1

Long-term operating lease liabilities

15.9

13.5

Long-term finance lease liabilities

17.4

26.4

Other non-current liabilities

1.1

1.7

Commitments and contingencies (Note 9)

Stockholders’ equity:

Common Stock, $0.01 par value; 110.0 authorized; 18.9 and 17.5 issued

0.2

Additional paid-in capital

571.3

557.5

Treasury stock, at cost, 0.5 shares and 0.5 shares

(6.2)

(5.8)

Accumulated deficit

(639.5)

(562.4)

Total stockholders’ deficit

(74.2)

(10.5)

Total liabilities and stockholders' deficit

$ 340.3

$ 456.3

[1]	Includes right-of-use ("ROU") assets - finance leases. See Note 4 - Property and Equipment, Net and Note 7 - Leases.

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2025	Feb. 27, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	01-38609
Entity Registrant Name	KLX Energy Services Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4904146
Entity Address, Address Line One	3040 Post Oak Boulevard
Entity Address, Address Line Two	15th Floor
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	832
Local Phone Number	844-1015
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	KLXE
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Public Float			$ 29.0
Entity Common Stock, Shares Outstanding		19,529,046
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE: Portions of the Registrant’s proxy statement for its annual meeting of stockholders to be held on May 6, 2026, which will be filed with the Securities and Exchange Commission within 120 days of December 31, 2025, are incorporated by reference in Part III.
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Entity Central Index Key	0001738827
Amendment Flag	false

Net Loss Per Common Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Net Loss Per Common Share

Basic net loss per common share is computed using the weighted average common shares outstanding during the period. Diluted net loss per common share is computed by using the weighted average common shares outstanding, excluding unvested restricted shares when their inclusion would be anti-dilutive. For the years ended December 31, 2025 and December 31, 2024, we excluded 0.7 and 0.4 million shares of the Company’s Common Stock, respectively. The computations of basic and diluted net loss per share for the years ended December 31, 2025 and December 31, 2024 are as follows:


	Year Ended
	December 31, 2025		December 31, 2024
Net loss	$	(77.1)	$	(53.0)
(Shares in millions)
Basic weighted average common shares	18.7		16.2
Effect of dilutive securities - dilutive securities	—		—
Diluted weighted average common shares	18.7		16.2

Basic net loss per common share	$	(4.12)	$	(3.27)
Diluted net loss per common share	$	(4.12)	$	(3.27)

Fair Value Information - Narrative (Details) - USD ($)	12 Months Ended
Fair Value Information - Narrative (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt, gross	$ 280,100,000	$ 286,300,000
loss on disposition of assets	200,000	0
2028 ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt, gross	36,000,000.0	0
Prior ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt, gross	$ 0	$ 50,000,000.0

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Houston, Texas

Related Party Transactions (Details) - Related Party $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)
Revenue
Related Party Transaction [Line Items]
Revenues	$ 11.6
Accounts Receivable
Related Party Transaction [Line Items]
Revenues	$ 3.9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481990/310-10-45-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

The Company is subject to taxation only in the United States and various U.S. states.


	Year Ended
	December 31, 2025		December 31, 2024
Net loss before income tax	$	(76.3)	$	(52.4)

Income tax expense consisted of the following:


	Year Ended
	December 31, 2025		December 31, 2024
Current:
Federal	$	—	$	(0.3)
State	0.5		0.9
Total current income tax expense	$	0.5	$	0.6
Deferred:
Federal	$	—	$	—
State	0.3		—
Total deferred income tax expense	0.3		—
Total income tax expense	$	0.8	$	0.6

A reconciliation of income tax expense using the federal statutory income tax rate of 21% to the actual income tax consists of the following:


	Year Ended
	December 31, 2025				December 31, 2024
	Amount		Percent		Amount		Percent
Income tax (benefit) expense at statutory rate	$	(16.0)	21.0	%	$	(11.0)	21.0	%
State income taxes, net of federal tax benefit(1)	0.6		(0.8)	%	0.7		(1.3)	%
Valuation allowance	14.2		(18.6)	%	9.5		(18.1)	%

Nontaxable or nondeductible items
Stock based compensation	0.5		(0.7)	%	0.1		(0.2)	%
Meals and entertainment	1.1		(1.4)	%	1.3		(2.5)	%
Officer compensation	0.3		(0.4)	%	0.3		(0.6)	%
Other	0.1		(0.1)	%	—		—	%
Other
Adjustments to prior year tax accruals	—		—	%	(0.3)		0.6	%
Total income tax expense and effective tax rate	$	0.8	(1.0)	%	$	0.6	(1.1)	%

(1) State taxes in Texas made up the majority (greater than 50%) of the tax effect in this category.

Income tax expense was $0.8 for the year ended December 31, 2025, which reflects an effective tax rate of approximately (1.0)%. For the fiscal year ended December 31, 2025, the Company recognized current state tax expense of $0.5 on its year-to-date income, plus deferred state tax expense of $0.3, primarily related to Texas franchise tax. For the fiscal year ended December 31, 2024, the Company recognized current state tax expense of $0.9 on its year-to-date income, primarily related to Texas franchise tax, less a federal tax adjustment of ($0.3) to the prior year accrual, which reflects an effective tax rate of approximately (1.1)%.

The tax effects of temporary differences and carryforwards that give rise to deferred income tax assets and liabilities consisted of the following:


	Year Ended
	December 31, 2025		December 31, 2024
Deferred tax assets:
Intangible assets	$	41.1	$	57.6
Net operating loss carryforward	225.2		195.0
Operating lease liabilities	5.4		4.8
Interest expense limitation	27.8		23.3
Other	5.0		6.8
	304.5		287.5
Deferred tax liabilities:

Operating lease assets	(5.3)		(4.6)
Depreciation	(17.1)		(16.4)
Other	(2.0)		(1.2)
	(24.4)		(22.2)
Net deferred tax asset before valuation allowance	$	280.1	$	265.3
Valuation allowance	(280.3)		(265.2)
Net deferred tax asset (liability)	$	(0.2)	$	0.1

The Company assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative loss that existed for the three-year period ended December 31, 2025. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth.

On the basis of this evaluation, as of December 31, 2025 and December 31, 2024, a valuation allowance of $280.3 and $265.2 has been recorded, respectively, to recognize only the portion of the deferred tax assets that are more likely than not to be realized. The amount of the deferred tax assets considered realizable,

however, could be adjusted if additional objectively verifiable positive evidence materializes in future reporting periods, such as a demonstrated operating profitability. The change in the valuation allowance from December 31, 2024 was a net increase of $15.1, which is primarily due to the current year operating loss. The valuation allowance recorded is exclusive of the deferred tax liability $0.2 relating to the Texas franchise tax.

Internal Revenue Code (“IRC”) Section 382 provides an annual limitation with respect to the ability of a corporation to utilize its net operating loss and other tax attributes, as well as certain built-in-losses, against future U.S. taxable income in the event of a change in ownership. The Company had an ownership change during 2020. As a result, the Company's pre-ownership change net operating loss carryforwards and recognized built-in-losses are subject to an annual limitation, which will significantly restrict its ability to use the net operating losses and recognized built-in-losses to offset taxable income in periods following the ownership change. The Company is limited to an approximate $0.5 annual limitation on its pre-change net operating loss carryforwards and recognized built-in-losses.

In addition, on July 28, 2020, the Company completed the all stock QES Merger, in which QES became a wholly owned subsidiary of the Company. The QES Merger resulted in an ownership change under IRC Section 382 of the historical QES net operating losses and other tax attributes. QES's pre-merger net operating losses and other tax attributes are subject to an annual limitation of $0.3.

The Company has U.S. federal net operating loss carryforwards of $972.9 and $840.2, for the fiscal years ended December 31, 2025 and December 31, 2024, respectively. Of these net operating losses, $763.2 is subject to an IRC Section 382 limitation, excluding $12.1 that will expire between 2029 and 2037 that the Company believes will not be utilized. The Company also has state net operating loss carryforwards of $312.4 for the fiscal year ended December 31, 2025, and $269.3 for the fiscal year ended December 31, 2024, which begin to expire for tax years ending in 2028. The Company's ability to utilize the state net operating loss carryforwards may be limited according to state law and conformity to the IRC Section 382 limitation.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based not only on the technical merits of the tax position based on tax law, but also the past administrative practices and precedents of the taxing authority. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company had no unrecognized tax benefits for the years ended December 31, 2025 and December 31, 2024.

The Company is subject to taxation in the United States and various states. Tax years that remain subject to examinations by major tax jurisdictions are generally open for tax years beginning in 2021 and after.

Income taxes paid, net of refunds received, consisted of the following:


	Year Ended
	December 31, 2025		December 31, 2024

Federal	$	—	$	2.2
State
Texas	0.8		1.0
Colorado	0.1		—
Other	0.1		0.1
Total State	1.0		1.1
Total income taxes paid, net	$	1.0	$	3.3

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Leases - Maturities of Operating and Financing Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Operating Leases
2026	$ 9.4
2027	7.2
2028	4.5
2029	2.6
2030	1.7
Thereafter	5.4
Total lease payments	30.8
Less: imputed interest	(7.8)
Total	23.0	$ 20.4
Finance Leases
2026	22.8
2027	7.9
2028	6.5
2029	5.2
2030	1.4
Thereafter	0.0
Total lease payments	43.8
Less: imputed interest	(6.8)
Financing lease obligations	$ 37.0	$ 39.4

Description of Business and Significant Accounting Policies

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business and Significant Accounting Policies

Description of Business

KLX Energy Services Holdings, Inc. (the “Company”, “KLXE” or “KLX Energy Services”) is a growth-oriented provider of diversified oilfield services to leading onshore oil and natural gas exploration and production (“E&P”) companies operating in both conventional and unconventional plays in all of the active major basins throughout the United States. The Company delivers mission critical oilfield services focused on drilling, completion, production and intervention activities for the most technically demanding wells in over 60 service and support facilities located throughout the United States.

The Company offers a complementary suite of proprietary products and specialized services that is supported by technically skilled personnel and a broad portfolio of innovative in-house manufacturing, repair and maintenance capabilities. KLXE’s primary services include coiled tubing, directional drilling, hydraulic fracturing rentals, fishing, pressure control, wireline, rig-assisted snubbing, fluid pumping, flowback, testing and well control services. KLXE’s primary rentals and products include hydraulic fracturing stacks, blow out preventers, tubulars, downhole tools, dissolvable plugs, composite plugs and accommodation units.

On July 28, 2020, KLX Energy Services, Krypton Intermediate, LLC, an indirect wholly owned subsidiary of KLXE, Krypton Merger Sub, Inc., an indirect wholly owned subsidiary of KLXE (“Merger Sub”), and Quintana Energy Services Inc. (“QES”) completed the previously announced acquisition of QES, by means of a merger of Merger Sub with and into QES, with QES surviving the merger as a subsidiary of KLXE (the “QES Merger”). On July 28, 2020, immediately prior to the consummation of the QES Merger, the Reverse Stock Split Amendment became effective and thereby effectuated the 1-for-5 Reverse Stock Split of the Company’s issued and outstanding Common Stock.

Basis of Presentation

The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP”). The consolidated financial statements include all accounts of KLXE and its subsidiaries. All intercompany transactions and account balances have been eliminated upon consolidation.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and related disclosures. Actual results could differ from those estimates.

Revenue Recognition

Revenue is recognized upon the customer obtaining control of promised goods or services, in an amount that reflects the consideration which is expected to be received in exchange for those goods or services, which generally reflects the amount we have the right to invoice. To determine revenue recognition for arrangements within the scope of Accounting Standards Codification (“ASC”) Topic 606, the following five steps are performed: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. Revenue is recognized in the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Service revenues are recorded over time throughout and

for the duration of the service period pursuant to a master services agreement combined with a completed field ticket or a work order. Revenues from product sales are recognized when the customer obtains control of the product, which occurs at a point in time, typically upon delivery in accordance with the terms of the field ticket or work order.

Income Taxes

The Company accounts for deferred income taxes through the asset and liability method. Under this method, a deferred tax liability or asset is recognized for the expected future tax consequences resulting from the differences in financial reporting bases and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the years in which the differences are expected to reverse. A valuation allowance is recorded if it is more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes accrued interest and penalties related to uncertain tax positions, if any, as a component of income tax expense.

Cash Equivalents

For purposes of reporting cash flows, cash and cash equivalents consist of cash on hand, and certificates of deposits. The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.

The Company maintains its cash and cash equivalents in various financial institutions, which at times may exceed federally insured amounts. Management believes that this risk is not significant.

Accounts Receivable, Net

The Company performs ongoing credit evaluations of its customers and adjusts credit limits based upon payment history and the customer’s current creditworthiness, as determined by review of their current credit information. The Company continuously monitors collections and payments from its customers and maintains a provision for estimated credit losses based upon historical experience and any specific customer collection issues that have been identified. The allowance for doubtful accounts at December 31, 2025 and December 31, 2024 was $1.7 and $4.2, respectively.

Activity in our allowance for doubtful accounts during the years ended December 31, 2025 and December 31, 2024 is set forth in the table below:


Allowance for doubtful accounts	Balance at beginning of period		Charged (credited) to costs and expenses		Deductions (1)		Balance at end of period
December 31, 2025	$	4.2	$	1.4	$	(3.9)	$	1.7
December 31, 2024	$	5.5	$	0.6	$	(1.9)	$	4.2

* ASC Topic 326, Financial Instruments - Credit Losses.

(1) Accounts receivable balances written off during the period, net of recoveries.

Inventories

Inventories, made up primarily of dissolvable plugs, supplies, finished goods and other consumables used to perform services for customers. The Company values inventories at the lower of cost or net realizable value and uses the weighted average costing and first-in, first-out methods. Reserves for excess and obsolete inventory were approximately $4.1 and $3.2 as of years ended December 31, 2025 and December 31, 2024, respectively.

Property and Equipment

Property and equipment is stated at cost and depreciated under the straight-line method over the estimated useful life of the asset. Equipment held under finance leases is stated at the present value of its future minimum lease payments and is depreciated under the straight-line method over the shorter of the lease term or the estimated useful life of the asset. Estimating useful lives of property and equipment requires significant judgment which is influenced by our historical experience in operating property and equipment, technological developments, and expectations of future demand.

Intangible Assets, Net

Under Financial Accounting Standards Board (“FASB”) ASC Topic 350, Intangibles—Goodwill and Other, indefinite-lived intangible assets are reviewed at least annually for impairment. Acquired intangible assets with definite lives are amortized under the straight-line method over their individual useful lives. As of December 31, 2025 and December 31, 2024, there were net intangible assets, consisting of customer relationships and patents, with definite lives of $1.1 and $1.5, respectively. As of December 31, 2025 and December 31, 2024, intangible assets had gross carrying amount of $5.9 and $5.9 and accumulated amortization of $4.8 and $4.4, respectively, with amortization expense for the years then ended of $0.4 and $0.3, respectively.

Long‑Lived Assets

Long-lived assets, such as property and equipment and purchased intangibles subject to amortization, are tested for impairment when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset may not be recovered. An impairment loss is recognized when the undiscounted cash flows expected to be generated by an asset (or group of assets) is less than its carrying amount. Any required impairment loss is measured as the amount by which the asset’s carrying value exceeds its fair value and is recorded as a reduction in the carrying value of the related asset and a charge to operating results. For the years ended December 31, 2025 and December 31, 2024, there were no impairments of long-lived assets.

Debt Issuance Costs

The Company capitalizes certain third-party fees directly related to the issuance of debt and amortizes these costs over the life of the debt using the effective interest method. Debt issuance costs related to the Prior ABL Facility and the 2028 ABL Facility are presented net of amortization as a non-current asset. Debt issuance costs related to the Company’s senior secured notes due 2030 (the “2030 Senior Notes”) and senior secured notes due 2025 (the “2025 Senior Notes”) are presented net of amortization as an offset to the liability. Amortized debt issuance costs are included in interest expense and totaled $2.3 for the year ended December 31, 2025 and $2.6 for the year ended December 31, 2024.

Original Issue Discount

The Company capitalizes the original issue cash discount and the original issue warrant discount, both related to the 2030 Senior Notes, and amortizes these costs over the life of the debt using the effective interest method. These discounts are presented net of amortization as an offset to the liability. Discount amortization is included in interest expense and totaled $2.4 for the year ended December 31, 2025 and $— for the year ended December 31, 2024.

Common Stock Equivalents

The Company has potential Common Stock equivalents related to its outstanding restricted stock awards and restricted stock units. These potential Common Stock equivalents are not included in diluted loss per share for any period presented in which there is a net loss because the effect would have been anti‑dilutive.

Stock-Based Compensation

The Company accounts for share-based compensation arrangements in accordance with the provisions of FASB ASC Topic 718, Stock Compensation whereby share-based compensation cost is measured on the date of grant, based on the calculated fair value of the award and recognized as selling, general and administrative expenses in the consolidated statement of operations over the requisite service period. Compensation cost recognized during the years ended December 31, 2025 and December 31, 2024 primarily related to grants of restricted stock and restricted stock units granted or approved by the Board’s compensation committee (the “Compensation Committee”). See Note 11 - Equity and Stock-Based Compensation for additional information related to stock-based compensation.

Concentration of Risk

The Company provides products and services to energy industry customers who focus on developing and producing oil and gas onshore in North America. The Company’s management performs ongoing credit evaluations on the financial condition of all of its customers and maintains allowances for uncollectible accounts receivable based on expected collectability. Credit losses have historically been within management’s expectations and the provisions established, see "Accounts Receivable, Net" above.

Significant customers change from year to year depending on the level of E&P activity and the use of the Company’s services. During the years ended December 31, 2025 and December 31, 2024, no single customer accounted for more than 10% of the Company’s revenues.

Inventories, net

12 Months Ended

Dec. 31, 2025

Inventory Disclosure [Abstract]

Inventories, net

Inventories consisted of the following:


	December 31, 2025		December 31, 2024
Spare parts	$	19.3	$	20.5
Plugs	9.0		8.0
Consumables	4.6		3.9
Other	1.9		1.8
Subtotal	34.8		34.2
Less: Inventory reserve	(4.1)		(3.2)
Total inventories, net	$	30.7	$	31.0

Inventories are made up primarily of spare parts, composite and dissolvable plugs, consumables (including thru tubing accessory tools, chemicals and cement) and other (including coiled tubing strings and wireline spools) used to perform services for customers. The Company values inventories at the lower of cost or net realizable value. Inventory reserves were approximately $4.1 and $3.2 as of December 31, 2025 and December 31, 2024, respectively.

Activity in the reserve for inventory accounts during the years ended December 31, 2025 and December 31, 2024 is set forth in the table below:


Reserve for inventory	Balance at beginning of period		Charged to costs and expenses		Deductions (1)		Balance at end of period
December 31, 2025	$	3.2	$	1.3	$	(0.4)	$	4.1
December 31, 2024	$	4.5	$	1.0	$	(2.3)	$	3.2

(1) Reserve for inventory balances written off during the period, net of recoveries.

Long-Term Debt

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Long-Term Debt

Outstanding long-term debt consisted of the following:


	December 31, 2025		December 31, 2024
2025 Senior Notes	$	—	$	236.3
2030 Senior Notes	244.1		—
Prior ABL Facility	—		50.0
2028 ABL Facility	36.0		—
Total principal outstanding	280.1		286.3
Less: Unamortized debt issuance costs	(6.2)		(1.2)
Less: Unamortized original issue discount	(15.6)		—
Total debt	258.3		285.1
Less: Current portion of long-term debt	4.4		—
Long-term debt	$	253.9	$	285.1

Refinancing

On March 7, 2025, the Company and certain of our subsidiaries party thereto entered into a Securities Purchase Agreement with certain holders (the “Investors”) of our 11.5% senior secured notes due 2025 (the “2025 Senior Notes”), pursuant to which the Company agreed to issue and sell to the Investors (a) approximately $232.2 in aggregate principal amount of the Senior Secured Floating Rate Cash / PIK Notes due 2030 (the “2030 Senior Notes” and, together with the 2025 Senior Notes, the “Senior Secured Notes”) and (b) warrants entitling the holders thereof to purchase, in the aggregate, up to 2,373,187 shares of Common Stock, at an exercise price of $0.01 per share, subject to adjustment in exchange for (i) approximately $78.4 in aggregate cash consideration and (ii) approximately $143.6 aggregate principal amount of the 2025 Senior Notes, which were cancelled by the Company upon receipt thereof (collectively, the “Refinancing”). The Company consummated the Refinancing on March 12, 2025.

Senior Secured Notes

2030 Senior Notes

On March 12, 2025, as part of the Refinancing, the Company and certain of its subsidiaries entered into an indenture, dated as of March 12, 2025 (the “2030 Senior Notes Indenture”), with U.S. Bank Trust Company, National Association, as the trustee and notes collateral agent, pursuant to which $232.2 of the 2030 Senior Notes were issued. The 2030 Senior Notes will mature on March 12, 2030 and bear a floating rate of interest of Term SOFR plus the Applicable Margin (as defined in the 2030 Senior Notes Indenture) based on the Secured Net Leverage Ratio (as defined in the 2030 Senior Notes Indenture) payable on the last day of the applicable interest period in cash or, at the Company’s election, additional 2030 Senior Notes paid-in-kind on one-, three- or six-month interest periods, which shall include a 100 basis point premium for any period where interest is paid-in-kind. The 2030 Senior Notes are senior secured obligations of the Company and are guaranteed on a senior secured basis by each of the Company’s current domestic subsidiaries and by certain future subsidiaries, subject to agreed guaranty and security principles and certain exclusions.

The 2030 Senior Notes are fully and unconditionally guaranteed by each of the Company’s current subsidiaries. The 2030 Senior Notes will also be guaranteed by each of the Company’s future subsidiaries that guarantee the Company’s indebtedness or indebtedness of guarantors, including under the 2028 ABL Facility and such subsidiaries that become guarantors in the future will also pledge their collateral in support of such guarantees. These guarantees are senior secured obligations of the guarantors secured by a first priority security interest on substantially all of the guarantors’ assets (other than collateral securing the 2028 ABL Facility on a first priority basis) and a second priority security interest on the guarantors’ assets which secure the 2028 ABL Facility on a first priority basis, subject in each case to certain excluded assets.

The Company is required to redeem the 2030 Senior Notes in an amount equal to 2.00% per annum of all 2030 Senior Notes outstanding as of the prior applicable Interest Payment Date (as defined in the 2030 Senior Notes Indenture) on the last business day of each of March, June, September and December.

Additionally, upon certain changes of control, consummation of certain asset sales and other events, the Company will be required to repurchase the 2030 Senior Notes at the applicable redemption prices.

The 2030 Senior Notes Indenture contains certain financial covenants that include (i) a maximum total net leverage ratio of not greater than 4.50 to 1.0 for the test periods ending March 31, 2025 through December 31, 2025, stepping down to 4.00 to 1.0 for the test periods ending March 31, 2026 through December 31, 2026, 3.50 to 1.0 for the test periods ending March 31, 2027 through December 31, 2027, 3.00 to 1.0 for the test periods ending March 31, 2028 through December 31, 2028, and 2.50 to 1.0 for each test period thereafter and (ii) restrictions on making net capital expenditures in any test period in excess of the greater of (x) $65.0 in the aggregate or (y) 7% of revenues during such test period. As of December 31, 2025, the Company was in compliance with its debt covenants under the 2030 Senior Notes.

The 2030 Senior Notes Indenture also restricts, among other things, the Company’s ability to incur indebtedness and liens, pay dividends or make other distributions, make certain other restricted payments or investments, sell assets, enter into restrictive agreements, enter into transactions with the Company’s affiliates, and merge or consolidate with other entities or convey, transfer or lease all or substantially all of the Company’s properties and assets to another person, which, in each case, is subject to certain limitations and exceptions. The 2030 Senior Notes Indenture also contains customary events of default including, among other things, the failure to pay interest for three business days, failure to pay principal when due, failure to observe or perform any other covenants or agreement in the 2030 Senior Notes Indenture subject to grace periods, cross-acceleration to indebtedness with an aggregate principal amount in excess of $7.5, material impairment of liens, failure to pay certain material judgments and certain events of bankruptcy. The 2030 Senior Notes Indenture permits the Company to incur additional pari passu indebtedness of up to $150.0 within twelve months of the Refinancing (including for the purpose of consummating permitted acquisitions and investments) subject to the terms and conditions contained in the 2030 Senior Notes Indenture and contains certain other covenants, events of default and other customary provisions.

As of December 31, 2025, the principal amount outstanding under the 2030 Senior Notes was $244.1. On a net basis, after taking into consideration unamortized debt issuance costs and original issue discount for the 2030 Senior Notes, total debt related to the 2030 Senior Notes as of December 31, 2025 was $222.3. The effective interest rate under the 2030 Senior Notes was approximately 12.3% on December 31, 2025. Accrued interest related to the 2030 Senior Notes was $— as of December 31, 2025.

2025 Senior Notes

The previously-issued 2025 Senior Notes were redeemed on March 30, 2025 and the related indenture was satisfied and discharged. On a net basis, after taking into consideration the debt issuance costs for the 2025 Senior Notes, total debt related to the 2025 Senior Notes as of December 31, 2024 was $235.1. The 2025 Senior Notes bore interest at an annual rate of 11.5%, payable semi-annually in arrears on May 1 and November 1. Accrued interest as of December 31, 2024 was $4.5.

ABL Facilities

2028 ABL Facility

On March 7, 2025, the Company also entered into a Credit Agreement, dated as of March 7, 2025 (the “2028 ABL Facility”), with the Company, as borrower, Eclipse Business Capital LLC, as administrative agent, as collateral agent and as FILO administrative agent and the lenders party thereto. The 2028 ABL Facility is comprised of an asset-based revolving credit facility with a $125.0 commitment (the “Revolving Facility”), a first-in-last-out asset-based credit facility with a $10.0 commitment (the “FILO Facility”), and a committed incremental loan option under the Revolving Facility with a $25.0 commitment (the “Incremental Revolving Loans”). The availability of the Incremental Revolving Loans are subject to usual and customary conditions to effectiveness, including, for example, the Company electing to utilize such Incremental Revolving Loans by a date certain and the payment of required fees. Borrowings under the Revolving Facility (including, to the extent incurred, the Incremental Revolving Loans) bear interest at a rate equal to adjusted term SOFR plus an applicable margin of 4.625%. Borrowings under the FILO Facility bear interest at a rate equal to adjusted term SOFR plus an applicable margin of 6.00%. The applicable margin under the Revolving Facility is subject to a 0.125% reduction and the applicable margin under the FILO Facility is subject to a 0.50% reduction, in each case upon the repayment in full of a $5.0 over-advance provided on the initial funding date under the Revolving Facility. The 2028 ABL Facility is secured by, among other things, a first priority lien on accounts receivable and inventory and contains customary conditions precedent to borrowing and affirmative and negative covenants.

The initial funding under the 2028 ABL Facility occurred on March 12, 2025, and the proceeds therefrom were used to repay the Prior ABL Facility in full. After giving effect to the foregoing, we had approximately $39.9 of available borrowing capacity under the 2028 ABL Facility. Our 2028 ABL Facility matures on March 7, 2028.

The 2028 ABL Facility includes a springing financial covenant which requires the Company’s consolidated fixed charge coverage ratio to be at least 1.0 to 1.0 if availability under the Revolving Facility falls below $7.0.

The 2028 ABL Facility includes financial, operating and negative covenants that limit our ability to incur indebtedness, to create liens or other encumbrances, to make certain payments and investments, including dividend payments, to engage in transactions with affiliates, to engage in sale/leaseback transactions, to guarantee indebtedness and to sell or otherwise dispose of assets and merge or consolidate with other entities. It also includes a covenant to deliver annual audited financial statements that are not qualified by a “going concern” or like qualification or exception. A failure to comply with the obligations contained in the 2028 ABL Facility could result in an event of default, which could permit acceleration of the debt, termination of undrawn commitments and enforcement against any liens securing the debt. The 2028 ABL Facility contains certain other covenants (including the ability to incur indebtedness for the purpose of consummating permitted acquisitions, subject to the terms of the 2028 ABL Facility), events of default and other customary provisions. As of December 31, 2025, the Company was in compliance with its debt covenants under the 2028 ABL Facility.

As of December 31, 2025, the borrowings outstanding under the 2028 ABL Facility were $36.0. The effective interest rate under the 2028 ABL Facility was approximately 8.61% on December 31, 2025. Accrued interest related to the 2028 ABL Facility was $0.4 as of December 31, 2025.

We have funds available under the 2028 ABL Facility of $50.6 on the December 2025 borrowing base certificate, which includes the undrawn availability on the FILO Facility.

Prior ABL Facility

On March 12, 2025, in connection with the completion of the Refinancing, the Prior ABL Facility was repaid in full using borrowings under the 2028 ABL Facility and the commitments thereunder terminated. As of December 31, 2024, $50.0 was outstanding under the Prior ABL Facility and the effective interest rate under the Prior ABL Facility was approximately 7.44%.

Other debt-related items

The Company uses standby letters of credit to facilitate commercial transactions with third parties and to secure our performance to certain vendors. Total letters of credit outstanding under the 2028 ABL Facility were $6.9 at December 31, 2025. To the extent liabilities are incurred as a result of the activities covered by the letters of credit, such liabilities are included on the accompanying consolidated balance sheets.

As of December 31, 2025, the Company had $1.9 of outstanding short-term indebtedness related to the financing of various insurance premiums at a weighted average interest rate of approximately 6.77%.

Segment Reporting - Total Assets by Reportable Segment (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 340.3	$ 456.3
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	334.6	364.7
Unallocated corporate assets
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	5.7	91.6
Rocky Mountains \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	103.0	114.0
Southwest \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	139.2	152.3
Northeast /Mid-Con \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 92.4	$ 98.4

- Definition

Amount of asset recognized for present right to economic benefit.

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+ Details

Segment Reporting - Revenues and Operating Income (Loss) by Reportable Segment (Details) $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($) segment	Dec. 31, 2024 USD ($)
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable segments \| segment	3
Revenues	$ 636.6	$ 709.3
Cost of sales	501.5	549.7
Depreciation and amortization	95.2	94.0
Selling, general and administrative	68.5	79.6
Segment operating income (loss)	(30.3)	(15.5)
Unallocated corporate expenses	(36.1)	(45.3)
Interest income	0.4	2.5
Interest expense	(45.2)	(39.4)
Loss on debt extinguishment	(1.2)	0.0
Loss before income tax	(76.3)	(52.4)
Cost of Product and Service Sold
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Unallocated corporate expenses	(3.2)	(4.0)
Depreciation, Depletion and Amortization
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Unallocated corporate expenses	(2.3)	(1.8)
Selling, General and Administrative Expenses
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Unallocated corporate expenses	(28.9)	(38.0)
Asset Impairment Charges and Other Expenses
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Unallocated corporate expenses	(1.7)	(1.5)
Eliminations
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	(1.4)	(2.1)
Cost of sales	(1.4)	(2.1)
Total
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Segment operating income (loss)	5.8	29.8
Rocky Mountains \| Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	199.2	229.1
Cost of sales	154.2	164.6
Depreciation and amortization	25.5	27.3
Selling, general and administrative	7.5	7.7
Other segment items	6.3	5.9
Segment operating income (loss)	5.7	23.6
Southwest \| Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	232.5	270.7
Cost of sales	188.1	218.4
Depreciation and amortization	33.4	30.8
Selling, general and administrative	12.1	12.7
Other segment items	2.4	4.8
Segment operating income (loss)	(3.5)	4.0
Northeast /Mid-Con \| Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	206.3	211.6
Cost of sales	157.5	164.9
Depreciation and amortization	34.1	34.1
Selling, general and administrative	6.0	6.6
Other segment items	5.1	3.8
Segment operating income (loss)	$ 3.6	$ 2.2

Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued compensation and employee benefits	$ 14.3	$ 27.9
Accrued property taxes	1.6	1.8
Accrued taxes other than property	2.2	3.5
Other accrued liabilities	7.9	8.1
Total accrued liabilities	$ 26.0	$ 41.3

Description of Business and Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Allowance for doubtful accounts
Balance at beginning of period	$ 4.2	$ 5.5
Charged (credited) to costs and expenses	1.4	0.6
Deductions	(3.9)	(1.9)
Balance at end of period	$ 1.7	$ 4.2

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Deferred tax assets:
Intangible assets	$ 41.1	$ 57.6
Net operating loss carryforward	225.2	195.0
Operating lease liabilities	5.4	4.8
Interest expense limitation	27.8	23.3
Other	5.0	6.8
Total deferred tax assets	304.5	287.5
Deferred tax liabilities:
Operating lease assets	(5.3)	(4.6)
Depreciation	(17.1)	(16.4)
Other	(2.0)	(1.2)
Total deferred tax liabilities	(24.4)	(22.2)
Net deferred tax asset before valuation allowance	280.1	265.3
Valuation allowance	(280.3)	(265.2)
Net deferred tax asset (liability)	$ 0.2
Net deferred tax asset (liability)		$ 0.1

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Net Loss Per Common Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Restricted Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from determination of diluted earnings per common share (in shares)	0.7	0.4

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy IT plays a crucial role in all of our operations. To remain competitive, our hardware, software and related services must properly and efficiently interact with our suppliers’ and customers' products, services and technology, record and process our financial transactions accurately, and obtain accurate and timely data and information to enable our analysis of trends and plans and the execution of our strategies. Accordingly, KLX maintains a cybersecurity risk program led by our internal IT department and strategic vendors designed to identify, assess, manage, mitigate, and respond to cybersecurity threats. These processes are integrated into the Company’s overall enterprise risk assessment. Our cybersecurity risk program references industry-standard frameworks and incorporates policies and practices designed to protect the privacy and security of our sensitive information. We perform technical assessments with feedback incorporated into our systems and procedures through continual upgrades intended to further improve our cybersecurity posture. We continue to evaluate internal systems, processes, and controls to identify potential cybersecurity vulnerabilities and mitigate potential loss from cyber-attacks. We have implemented a monitoring and detection system to help identify cybersecurity incidents. All incidents are escalated to our cybersecurity committee, which includes Vice President of IT, Chief Financial Officer, Chief Compliance Officer/General Counsel and other senior management. We also require our employees to receive annual cybersecurity awareness training. We perform cybersecurity tabletop exercises and implement post-incident “lessons learned” to enhance our response. We provide our system users with access consistent with the principle of least privilege, which requires that such users be given no more access than necessary to complete their job functions. We have also implemented a multi-factor authentication process for employees accessing company information. We engage third-party service providers in connection with our cybersecurity risk program, including assessors, consultants, and auditors. We recognize that third-party service providers introduce cybersecurity risks. In an effort to mitigate these risks, we include security and privacy addendums to our contracts where applicable. Impacts from Cybersecurity Threats As of the date of this report, the Company and our service providers have been subject to certain cybersecurity incidents (including phishing attempts). We are not aware of any prior cybersecurity threats that have materially affected or are reasonably likely to materially affect the Company. However, we acknowledge that cybersecurity threats are continually evolving, and the possibility of future cybersecurity incidents remains. Despite the implementation of our cybersecurity processes, our security measures cannot guarantee that a significant cyberattack will not occur. A successful attack on our IT systems could have significant consequences to the business. See “Risk Factors” in Item 1A of Part I for additional information about the risks to our business associated with a breach or compromise to our IT systems.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Accordingly, KLX maintains a cybersecurity risk program led by our internal IT department and strategic vendors designed to identify, assess, manage, mitigate, and respond to cybersecurity threats. These processes are integrated into the Company’s overall enterprise risk assessment. Our cybersecurity risk program references industry-standard frameworks and incorporates policies and practices designed to protect the privacy and security of our sensitive information.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board considers cybersecurity risk as part of its overall risk oversight function and has delegated to our audit committee oversight of cybersecurity and other information security risks.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board considers cybersecurity risk as part of its overall risk oversight function and has delegated to our audit committee oversight of cybersecurity and other information security risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our cybersecurity committee, which includes Vice President of IT, Chief Financial Officer, Chief Compliance Officer/General Counsel and other senior management, reports to the audit committee on a quarterly basis regarding information security and cybersecurity matters, including cybersecurity risks, or as needed, and the audit committee reports to the Board.
Cybersecurity Risk Role of Management [Text Block]	Our IT department is made up of experienced professionals with an extensive background in information security, risk management and incident response. Our Vice President of IT leads our IT department, which is responsible for assessing, identifying, and managing risks from cybersecurity threats. Our Vice President of IT reports to the Company’s Chief Financial Officer, including with respect to emerging cybersecurity incidents. To facilitate effective oversight, our Vice President of IT holds discussions on cybersecurity risks, incident trends, and the effectiveness of cybersecurity measures as necessitated by emerging material cyber risks. Our Vice President of IT has over thirty years of IT background in a variety of industries, with experience developing security frameworks, training on cyber security best practices, and emergency response and remediation.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our IT department is made up of experienced professionals with an extensive background in information security, risk management and incident response. Our Vice President of IT leads our IT department, which is responsible for assessing, identifying, and managing risks from cybersecurity threats.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our Vice President of IT has over thirty years of IT background in a variety of industries, with experience developing security frameworks, training on cyber security best practices, and emergency response and remediation.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our Vice President of IT reports to the Company’s Chief Financial Officer, including with respect to emerging cybersecurity incidents. To facilitate effective oversight, our Vice President of IT holds discussions on cybersecurity risks, incident trends, and the effectiveness of cybersecurity measures as necessitated by emerging material cyber risks.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Net Income (loss) Before Income Tax

The Company is subject to taxation only in the United States and various U.S. states.


	Year Ended
	December 31, 2025		December 31, 2024
Net loss before income tax	$	(76.3)	$	(52.4)

Schedule of Components of Income Tax Expense

Income tax expense consisted of the following:


	Year Ended
	December 31, 2025		December 31, 2024
Current:
Federal	$	—	$	(0.3)
State	0.5		0.9
Total current income tax expense	$	0.5	$	0.6
Deferred:
Federal	$	—	$	—
State	0.3		—
Total deferred income tax expense	0.3		—
Total income tax expense	$	0.8	$	0.6

Schedule of Reconciliation of Income Tax Expense

A reconciliation of income tax expense using the federal statutory income tax rate of 21% to the actual income tax consists of the following:


	Year Ended
	December 31, 2025				December 31, 2024
	Amount		Percent		Amount		Percent
Income tax (benefit) expense at statutory rate	$	(16.0)	21.0	%	$	(11.0)	21.0	%
State income taxes, net of federal tax benefit(1)	0.6		(0.8)	%	0.7		(1.3)	%
Valuation allowance	14.2		(18.6)	%	9.5		(18.1)	%

Nontaxable or nondeductible items
Stock based compensation	0.5		(0.7)	%	0.1		(0.2)	%
Meals and entertainment	1.1		(1.4)	%	1.3		(2.5)	%
Officer compensation	0.3		(0.4)	%	0.3		(0.6)	%
Other	0.1		(0.1)	%	—		—	%
Other
Adjustments to prior year tax accruals	—		—	%	(0.3)		0.6	%
Total income tax expense and effective tax rate	$	0.8	(1.0)	%	$	0.6	(1.1)	%

(1) State taxes in Texas made up the majority (greater than 50%) of the tax effect in this category.

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences and carryforwards that give rise to deferred income tax assets and liabilities consisted of the following:


	Year Ended
	December 31, 2025		December 31, 2024
Deferred tax assets:
Intangible assets	$	41.1	$	57.6
Net operating loss carryforward	225.2		195.0
Operating lease liabilities	5.4		4.8
Interest expense limitation	27.8		23.3
Other	5.0		6.8
	304.5		287.5
Deferred tax liabilities:

Operating lease assets	(5.3)		(4.6)
Depreciation	(17.1)		(16.4)
Other	(2.0)		(1.2)
	(24.4)		(22.2)
Net deferred tax asset before valuation allowance	$	280.1	$	265.3
Valuation allowance	(280.3)		(265.2)
Net deferred tax asset (liability)	$	(0.2)	$	0.1

Schedule of Income Taxes Paid, Net of Refunds Received

Income taxes paid, net of refunds received, consisted of the following:


	Year Ended
	December 31, 2025		December 31, 2024

Federal	$	—	$	2.2
State
Texas	0.8		1.0
Colorado	0.1		—
Other	0.1		0.1
Total State	1.0		1.1
Total income taxes paid, net	$	1.0	$	3.3

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following:


	Useful Life (Years)			December 31, 2025		December 31, 2024
Land, buildings and improvements	1	—	40	$	36.1	$	36.3
Machinery	1	—	20	299.8		289.0
Equipment and furniture	1	—	15	248.6		243.4
ROU assets - finance leases	1	—	20	84.9		83.9
Total property and equipment				669.4		652.6
Less: Accumulated depreciation				(512.3)		(461.1)
Add: Construction in progress				4.0		5.6
Total property and equipment, net				$	161.1	$	197.1