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BUSINESS SEGMENTS
9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
BUSINESS SEGMENTS BUSINESS SEGMENTS
 
Our business is organized into two segments: DynaEnergetics and NobelClad. DynaEnergetics designs, manufactures and distributes products utilized by the global oil and gas industry principally for the perforation of oil and gas wells. NobelClad is a global leader in the production of explosion-welded clad metal plates for use in the construction of corrosion resistant industrial processing equipment and specialized transition joints.
Our reportable segments are separately managed strategic business units that offer different products and services. Each segment’s products are marketed to different customer types and require different manufacturing processes and technologies.
Segment information is as follows:
 
Three months ended September 30,Nine months ended September 30,
2021202020212020
Net sales
DynaEnergetics$44,237 $34,201 $124,677 $111,065 
NobelClad22,938 21,080 63,594 60,983 
Net sales$67,175 $55,281 $188,271 $172,048 
Three months ended September 30,Nine months ended September 30,
2021202020212020
Operating income
DynaEnergetics$1,585 $2,171 $6,307 $3,886 
NobelClad3,620 2,483 8,595 5,941 
Segment operating income5,205 4,654 14,902 9,827 
Unallocated corporate expenses(2,499)(1,594)(6,903)(5,851)
Stock-based compensation(1,569)(1,595)(4,904)(4,154)
Other (expense) income, net(198)(148)304 (118)
Interest expense, net(14)(170)(230)(564)
Income (loss) before income taxes$925 $1,147 $3,169 $(860)

Three months ended September 30,Nine months ended September 30,
2021202020212020
Depreciation and amortization
DynaEnergetics$2,012 $1,866 $6,095 $5,410 
NobelClad967 879 2,851 2,594 
Segment depreciation and amortization2,979 2,745 8,946 8,004 
Corporate and other102 75 277 239 
Consolidated depreciation and amortization$3,081 $2,820 $9,223 $8,243 

The disaggregation of revenue earned from contracts with customers based on the geographic location of the customer is as follows.

DynaEnergetics
 Three months ended September 30,Nine months ended September 30,
 2021202020212020
United States$36,453 $23,324 $96,316 $80,931 
Canada2,798 1,856 9,304 2,504 
Egypt671 388 2,398 2,642 
Oman665 1,148 2,117 1,842 
Rest of the world3,650 7,485 14,542 23,146 
Total DynaEnergetics$44,237 $34,201 $124,677 $111,065 
NobelClad
 Three months ended September 30,Nine months ended September 30,
 2021202020212020
United States$11,033 $10,589 $30,448 $30,094 
Russia1,519 — 3,586 — 
Canada1,254 1,985 3,985 5,446 
Singapore1,009 32 1,009 857 
United Arab Emirates929 310 2,030 2,930 
China892 1,448 3,775 1,543 
Italy831 301 1,268 685 
Germany761 982 1,539 2,770 
Australia576 587 1,171 1,193 
France509 300 1,929 2,392 
Netherlands507 361 1,628 1,276 
Sweden494 541 676 1,097 
Rest of the world2,624 3,644 10,550 10,700 
Total NobelClad$22,938 $21,080 $63,594 $60,983 

During the three months ended September 30, 2021, one customer in our DynaEnergetics segment accounted for approximately 11% of consolidated net sales. During the three months ended September 30, 2020, one customer in our DynaEnergetics segment accounted for approximately 11% of consolidated net sales. During the nine months ended September 30, 2021 no single customer accounted for greater than 10% of consolidated net sales. During the nine months ended September 30, 2020, one customer in our DynaEnergetics segment accounted for approximately 12% of consolidated net sales. As of September 30, 2021, one customer in our DynaEnergetics segment accounted for approximately 12% of consolidated accounts receivable. As of December 31, 2020 no single customer accounted for greater than 10% of consolidated accounts receivable.