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Supplemental Financial Statement Information (Tables) | 9 Months Ended
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Sep. 30, 2024
Condensed Financial Information Disclosure [Abstract] |
Schedule of Components of Property, Plant and Equipment, Net and Rental Equipment, Net | Components of property, plant and equipment, net were as follows:
(in thousands) | September 30, 2024 |  | December 31, 2023
Land | $ | 16,656 |  |  | $ | 16,916 |
Buildings and improvements | 64,978 |  |  | 50,376 |
Machinery and equipment | 55,159 |  |  | 48,844 |
Capitalized software | 12,236 |  |  | 9,148 |
Furniture and fixtures | 13,269 |  |  | 11,022 |
Vehicles | 5,891 |  |  | 1,738 |
Construction in progress(1) | 4,413 |  |  | 6,025 |
Total | 172,602 |  |  | 144,069 |
Accumulated depreciation and amortization | (43,675) |  |  | (30,258) |
Property, plant and equipment, net | $ | 128,927 |  |  | $ | 113,811 |
(1)Construction in progress primarily relates to upgrades to certain of the Company’s information technology systems and distribution facilities that we expect to place in service in the next 12 months. Depreciation expense for property, plant and equipment and amortization expense for capitalized software, which are included in Selling, general and administrative expenses in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss), were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Depreciation expense for property, plant and equipment | $ | 4,125 |  |  | $ | 3,490 |  |  | $ | 11,625 |  |  | $ | 9,540 |
Amortization expense for capitalized software | $ | 834 |  |  | $ | 473 |  |  | $ | 2,503 |  |  | $ | 1,975 |
Rental equipment, net consisted of the following:
(in thousands) | September 30, 2024 |  | December 31, 2023
Rental equipment | $ | 47,109 |  |  | $ | 52,387 |
Accumulated depreciation | (24,508) |  |  | (27,812) |
Rental equipment, net | $ | 22,601 |  |  | $ | 24,575 |
Depreciation expense for rental equipment, which is included in Cost of goods sold in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss), was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Depreciation expense for rental equipment | $ | 1,693 |  |  | $ | 1,739 |  |  | $ | 5,159 |  |  | $ | 5,936 |
Schedule of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consisted of the following:
(in thousands) | September 30, 2024 |  | December 31, 2023
Accrued compensation | $ | 23,829 |  |  | $ | 25,371 |
Accrued and withheld taxes, other than income taxes | 10,805 |  |  | 8,661 |
Deferred acquisition payments and accrued earnout liabilities | 6,828 |  |  | 7,513 |
Accrued customer rebates | 5,687 |  |  | 5,473 |
Deferred revenue | 4,391 |  |  | 810 |
Accrued severance and acquisition related retention bonus | 4,390 |  |  | 21,128 |
Accrued stock-based compensation | 2,530 |  |  | 5,573 |
Accrued interest | 2,283 |  |  | 3,301 |
Accrued health benefits | 2,270 |  |  | 1,728 |
Accrued income taxes | 1,754 |  |  | 1,994 |
Other | 17,316 |  |  | 15,689 |
Total accrued expenses and other current liabilities | $ | 82,083 |  |  | $ | 97,241 |
Schedule of Other Liabilities | Other liabilities consisted of the following:
(in thousands) | September 30, 2024 |  | December 31, 2023
Security bonus plan | $ | 7,564 |  |  | $ | 8,666 |
Deferred compensation | 11,848 |  |  | 11,041 |
Other | 4,425 |  |  | 5,736 |
Total other liabilities | $ | 23,837 |  |  | $ | 25,443 |

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