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v3.25.2

Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table sets forth certain information regarding significant expense categories fo r the three and six months ended June 30, 2025 and 2024, respectively.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Revenues: |  |  |  |  |  |  |
Leasing and services revenue: |  |  |  |  |  |  |
Unit leasing and other rental-related | $ | 342,886 |  |  | $ | 358,480 |  |  | $ | 680,937 |  |  | $ | 722,767 |
VAPS and third party leasing | 100,030 |  |  | 100,112 |  |  | 196,369 |  |  | 196,426 |
Delivery revenue | 55,384 |  |  | 60,223 |  |  | 104,419 |  |  | 116,409 |
Installation revenue | 53,068 |  |  | 47,924 |  |  | 92,694 |  |  | 92,100 |
Sales revenue: |  |  |  |  |  |  |
New units | 21,620 |  |  | 21,378 |  |  | 44,057 |  |  | 34,877 |
Rental units | 16,095 |  |  | 16,473 |  |  | 30,158 |  |  | 29,192 |
Total revenues | 589,083 |  |  | 604,590 |  |  | 1,148,634 |  |  | 1,191,771 |
Less:(a) |  |  |  |  |  |  |
Costs of leasing and services: |  |  |  |  |  |  |
Unit leasing | 77,096 |  |  | 81,695 |  |  | 148,841 |  |  | 167,258 |
VAPS and third party leasing | 18,242 |  |  | 16,553 |  |  | 34,567 |  |  | 33,384 |
Delivery | 45,081 |  |  | 45,642 |  |  | 85,636 |  |  | 90,155 |
Installation | 43,073 |  |  | 35,528 |  |  | 76,314 |  |  | 68,857 |
Costs of sales: |  |  |  |  |  |  |
New units | 13,552 |  |  | 13,358 |  |  | 28,750 |  |  | 21,631 |
Rental units | 7,525 |  |  | 9,085 |  |  | 15,694 |  |  | 15,961 |
Employee SG&A expense(b) | 67,471 |  |  | 67,230 |  |  | 135,736 |  |  | 137,870 |
Other segment items(c) | 68,130 |  |  | 71,923 |  |  | 145,398 |  |  | 145,070 |
Adjusted EBITDA | $ | 248,913 |  |  | $ | 263,576 |  |  | $ | 477,698 |  |  | $ | 511,585 |
(a) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (b) Employee SG&A expense consists of salaries and wages, bonuses, commissions, payroll taxes, and employee benefits. (c) Other segment items consist of service agreements and professional fees, real estate and occupancy costs, travel, bad debt expense, marketing and advertising, taxes, and other miscellaneous expenses. The following table presents reconciliations of the Company’s net income to Adjusted EBITDA for the three and six months ended June 30, 2025 and 2024, respectively:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Net income (loss) | $ | 47,939 |  |  | $ | (46,851) |  |  | $ | 90,994 |  |  | $ | 9,389 |
Income tax expense (benefit) | 19,984 |  |  | (13,929) |  |  | 37,894 |  |  | 3,189 |
Interest expense, net | 58,977 |  |  | 55,548 |  |  | 117,446 |  |  | 112,136 |
Depreciation and amortization | 112,632 |  |  | 93,746 |  |  | 209,724 |  |  | 186,574 |
Currency (gains) losses, net | (79) |  |  | (42) |  |  | 144 |  |  | 35 |
Restructuring costs, lease impairment expense and other related charges | 205 |  |  | 6,183 |  |  | 907 |  |  | 6,929 |
Impairment loss on intangible asset | — |  |  | 132,540 |  |  | — |  |  | 132,540 |
Transaction costs | 1,125 |  |  | 40 |  |  | 1,159 |  |  | 40 |
Integration costs | 386 |  |  | 3,066 |  |  | 613 |  |  | 5,943 |
Stock compensation expense | 8,373 |  |  | 9,614 |  |  | 16,714 |  |  | 18,713 |
Other | (629) |  |  | 23,661 |  |  | 2,103 |  |  | 36,097 |
Adjusted EBITDA | $ | 248,913 |  |  | $ | 263,576 |  |  | $ | 477,698 |  |  | $ | 511,585 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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