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Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has one reportable segment. Refer to Note 3 for revenue by geographic area and revenue by major product and service lines. Refer to the Condensed Consolidated Balance Sheets for total assets. Refer to the Condensed Consolidated Statements of Cash Flows for total expenditures for additions to long-lived assets.
The Company defines EBITDA as net income (loss) plus interest (income) expense, income tax (benefit) expense, depreciation and amortization. The Company reflects further adjustments to EBITDA (“Adjusted EBITDA”) to exclude certain non-cash items and the effect of what the Company considers transactions or events not related to its core and ongoing business operations. The measure of profit or loss used by the Chief Operating Decision Maker ("CODM") to evaluate operating segment performance and allocate resources is Adjusted EBITDA. Management believes that evaluating operating segment performance excluding such items is meaningful because it provides insight with respect to the intrinsic and ongoing operating results of the Company. The Company considers Adjusted EBITDA to be an important metric because it reflects the business performance of the segments, inclusive of indirect costs.
The following table sets forth certain information regarding significant expense categories 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)2025202420252024
Revenues:
Leasing and services revenue:
Unit leasing and other rental-related$342,886 $358,480 $680,937 $722,767 
VAPS and third party leasing100,030 100,112 196,369 196,426 
Delivery revenue55,384 60,223 104,419 116,409 
Installation revenue53,068 47,924 92,694 92,100 
Sales revenue:
New units21,620 21,378 44,057 34,877 
Rental units16,095 16,473 30,158 29,192 
Total revenues589,083 604,590 1,148,634 1,191,771 
Less:(a)
Costs of leasing and services:
Unit leasing77,096 81,695 148,841 167,258 
VAPS and third party leasing18,242 16,553 34,567 33,384 
Delivery45,081 45,642 85,636 90,155 
Installation43,073 35,528 76,314 68,857 
Costs of sales:
New units13,552 13,358 28,750 21,631 
Rental units7,525 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)2025202420252024
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, net58,977 55,548 117,446 112,136 
Depreciation and amortization112,632 93,746 209,724 186,574 
Currency (gains) losses, net(79)(42)144 35 
Restructuring costs, lease impairment expense and other related charges205 6,183 907 6,929 
Impairment loss on intangible asset— 132,540 — 132,540 
Transaction costs1,125 40 1,159 40 
Integration costs386 3,066 613 5,943 
Stock compensation expense8,373 9,614 16,714 18,713 
Other(629)23,661 2,103 36,097 
Adjusted EBITDA$248,913 $263,576 $477,698 $511,585