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Segments
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segments
Note 14: Segments
Our operations are primarily organized and managed by operating segment. Operating segment performance and resource allocations are primarily based on gross profit. Gross profit aids the Chief Operating Decision Maker (“CODM”) in managing the inventory levels and rental fleet, entering into significant revenue contracts, expanding into new markets or launching new products, making capital expenditures, designing and implementing key marketing strategies, personnel changes, and approving operating budgets. Significant expense categories that are regularly reviewed by the operating segments’ CODM are disclosed below. The CODM for all segments is the Company’s Chief Executive Officer. We manage the business in three reporting segments: Equipment Rental Solutions (“ERS”),
Truck and Equipment Sales (“TES”) and Aftermarket Parts and Services (“APS”). Transactions between our segments consist of equipment produced by TES that is sold to ERS for inclusion in its fleet of rental equipment. Additionally, TES and APS provide repair and maintenance services to ERS for maintenance of its rental fleet. Transactions between segments are at cost and intersegment sales and purchases are eliminated in consolidation.

The Company’s segment results are presented in the tables below:
Three Months Ended March 31,
2025
(in $000s)ERSTESAPSTotal
Revenue:
Rental$112,965 $— $3,296 $116,261 
Equipment sales41,383 232,480 — 273,863 
Parts and services— — 32,108 32,108 
Total revenue154,348 232,480 35,404 422,232 
Cost of revenue:
Rentals/parts and services30,388 — 27,740 58,128 
Equipment sales31,007 197,470 — 228,477 
Depreciation of rental equipment49,324 — 767 50,091 
Total cost of revenue110,719 197,470 28,507 336,696 
Gross profit$43,629 $35,010 $6,897 $85,536 
Three Months Ended March 31,
2024
(in $000s)ERSTESAPSTotal
Revenue:
Rental$103,288 $— $2,883 106,171 
Equipment sales32,740 239,862 — 272,602 
Parts and services— — 32,534 32,534 
Total revenue136,028 239,862 35,417 411,307 
Cost of revenue:
Rentals/parts and services29,800 — 26,254 56,054 
Equipment sales24,098 196,702 — 220,800 
Depreciation of rental equipment42,697 — 1,047 43,744 
Total cost of revenue96,595 196,702 27,301 320,598 
Gross profit$39,433 $43,160 $8,116 $90,709 
Total assets by operating segment are not disclosed herein because asset by operating segment data is not reviewed by the CODM to assess performance and allocate resources.
Gross profit is the primary operating result whereby our segments are evaluated for performance and resource allocation. The following table presents a reconciliation of consolidated gross profit to consolidated income (loss) before income taxes:
Three Months Ended March 31,
(in $000s)20252024
Gross profit$85,536 $90,709 
Selling, general and administrative expenses59,451 57,995 
Amortization6,680 6,578 
Non-rental depreciation3,340 2,920 
Transaction expenses and other3,660 4,846 
Interest expense, net38,913 37,915 
Financing and other expense (income)(1,016)(3,262)
Income (loss) before income taxes$(25,492)$(16,283)
The following table presents total assets by country:
(in $000s) March 31, 2025December 31, 2024
Assets:
United States$3,436,633 $3,385,786 
Canada106,275 116,181 
       Total Assets$3,542,908 $3,501,967