XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.25.3

Supplemental Financial Statement Information | 9 Months Ended
--- | ---
Sep. 30, 2025
Condensed Financial Information Disclosure [Abstract] |
Supplemental Financial Statement Information | Note 5 – Supplemental Financial Statement Information Restricted Cash The Company has agreed to maintain restricted cash of $13.5 million under agreements with outside parties. During 2024, escrow accounts were established in conjunction with certain business acquisitions, to be released upon meeting certain working capital and other post-closing requirements as of the one-year post-acquisition dates with a balance of $5.0 million at September 30, 2025. The Company is restricted from withdrawing this balance without the prior consent of the sellers. The remaining restricted cash balance of $8.5 million represents collateral for certain borrowings under the Amended Credit Agreement, and the Company is restricted from withdrawing this balance without the prior consent of the respective lenders. Property, Plant and Equipment, net Components of property, plant and equipment, net were as follows:
(in thousands) | September 30, 2025 |  | December 31, 2024
Land | $ | 16,449 |  |  | $ | 16,187 |
Buildings and improvements | 65,164 |  |  | 63,935 |
Machinery and equipment | 61,789 |  |  | 55,890 |
Capitalized software | 20,468 |  |  | 12,295 |
Furniture and fixtures | 12,429 |  |  | 13,251 |
Vehicles | 6,601 |  |  | 5,716 |
Construction in progress(1) | 7,775 |  |  | 6,284 |
Total | 190,675 |  |  | 173,558 |
Accumulated depreciation and amortization | (64,131) |  |  | (48,034) |
Property, plant and equipment, net | $ | 126,544 |  |  | $ | 125,524 |
(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 twelve 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) | 2025 |  | 2024 |  | 2025 |  | 2024
Depreciation expense for property, plant and equipment | $ | 4,475 |  |  | $ | 4,125 |  |  | $ | 13,938 |  |  | $ | 11,625 |
Amortization expense for capitalized software | $ | 1,059 |  |  | $ | 834 |  |  | $ | 2,988 |  |  | $ | 2,503 |
Rental Equipment, net Rental equipment, net consisted of the following:
(in thousands) | September 30, 2025 |  | December 31, 2024
Rental equipment | $ | 65,332 |  |  | $ | 64,160 |
Accumulated depreciation | (27,878) |  |  | (24,784) |
Rental equipment, net | $ | 37,454 |  |  | $ | 39,376 |
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) | 2025 |  | 2024 |  | 2025 |  | 2024
Depreciation expense for rental equipment | $ | 2,858 |  |  | $ | 1,693 |  |  | $ | 8,548 |  |  | $ | 5,159 |
Refer to Note 4 – Revenue Recognition for a discussion on the Company’s activities as lessor. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following:
(in thousands) | September 30, 2025 |  | December 31, 2024
Accrued compensation | $ | 29,628 |  |  | $ | 23,800 |
Accrued and withheld taxes, other than income taxes | 10,802 |  |  | 10,178 |
Deferred revenue | 7,620 |  |  | 3,727 |
Accrued customer rebates | 7,388 |  |  | 6,366 |
Deferred acquisition payments and accrued earnout liabilities | 4,970 |  |  | 6,384 |
Accrued income taxes | 2,678 |  |  | 1,703 |
Accrued severance and acquisition related retention bonus | 2,076 |  |  | 2,864 |
Accrued health benefits | 2,011 |  |  | 2,234 |
Accrued interest | 1,329 |  |  | 2,030 |
Accrued stock-based compensation | 903 |  |  | 1,960 |
Other | 18,814 |  |  | 20,013 |
Total accrued expenses and other current liabilities | $ | 88,219 |  |  | $ | 81,259 |
Other Liabilities Other liabilities consisted of the following:
(in thousands) | September 30, 2025 |  | December 31, 2024
Security bonus plan | $ | 7,363 |  |  | $ | 7,536 |
Deferred compensation | 12,440 |  |  | 11,455 |
Other | 4,877 |  |  | 7,534 |
Total other liabilities | $ | 24,680 |  |  | $ | 26,525 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement. + References No definition available. + Details
Name: | us-gaap_AdditionalFinancialInformationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration