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Supplemental Financial Statement Information | 6 Months Ended
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Jun. 30, 2026
Condensed Financial Information Disclosure [Abstract] |
Supplemental Financial Statement Information | Note 5 – Supplemental Financial Statement Information Restricted Cash The Company agreed to maintain restricted cash of $8.5 million as of June 30, 2026 and $13.6 million as of December 31, 2025, under agreements with outside parties. The restricted cash balances of $8.5 million as of June 30, 2026 and December 31, 2025 represent deposits placed with certain lenders under the Amended Credit Agreement, and the Company is restricted from withdrawing these balances without the prior consent of the respective lenders. The remaining restricted cash balance of $5.1 million as of December 31, 2025 represents escrow accounts that were established in conjunction with certain business acquisitions, which were released during the six months ended June 30, 2026, after meeting certain working capital and other post-closing requirements as of the contractual post-acquisition dates. Property, Plant and Equipment, net Components of property, plant and equipment, net were as follows:
(in thousands) | June 30, 2026 |  | December 31, 2025
Land | $ | 16,928 |  |  | $ | 16,566 |
Buildings and improvements | 74,434 |  |  | 67,508 |
Machinery and equipment | 64,196 |  |  | 62,750 |
Capitalized software | 24,027 |  |  | 21,492 |
Furniture and fixtures | 12,357 |  |  | 12,275 |
Vehicles | 6,894 |  |  | 6,720 |
Construction in progress(1) | 3,494 |  |  | 8,112 |
Total | 202,330 |  |  | 195,423 |
Accumulated depreciation and amortization | (77,954) |  |  | (68,818) |
Property, plant and equipment, net | $ | 124,376 |  |  | $ | 126,605 |
(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 June 30, |  | Six Months Ended June 30,
(in thousands) | 2026 |  | 2025 |  | 2026 |  | 2025
Depreciation expense for property, plant and equipment | $ | 4,329 |  |  | $ | 4,691 |  |  | $ | 8,709 |  |  | $ | 9,463 |
Amortization expense for capitalized software | $ | 1,189 |  |  | $ | 1,062 |  |  | $ | 2,315 |  |  | $ | 1,929 |
Rental Equipment, net Rental equipment, net consisted of the following:
(in thousands) | June 30, 2026 |  | December 31, 2025
Rental equipment | $ | 74,045 |  |  | $ | 68,401 |
Accumulated depreciation | (31,922) |  |  | (29,445) |
Rental equipment, net | $ | 42,123 |  |  | $ | 38,956 |
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 June 30, |  | Six Months Ended June 30,
(in thousands) | 2026 |  | 2025 |  | 2026 |  | 2025
Depreciation expense for rental equipment | $ | 3,199 |  |  | $ | 2,935 |  |  | $ | 6,413 |  |  | $ | 5,690 |
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) | June 30, 2026 |  | December 31, 2025
Accrued compensation | $ | 26,852 |  |  | $ | 29,267 |
Contract liabilities | 8,902 |  |  | 5,207 |
Accrued and withheld taxes, other than income taxes | 7,951 |  |  | 10,263 |
Accrued customer rebates | 7,537 |  |  | 7,847 |
Accrued severance and acquisition related retention bonus | 2,649 |  |  | 1,966 |
Accrued interest | 2,219 |  |  | 1,647 |
Accrued health benefits | 1,496 |  |  | 1,615 |
Deferred acquisition payments and accrued earnout liabilities | 982 |  |  | 6,021 |
Accrued income taxes | 709 |  |  | 793 |
Accrued stock-based compensation | 326 |  |  | 326 |
Other | 21,941 |  |  | 19,185 |
Total accrued expenses and other current liabilities | $ | 81,564 |  |  | $ | 84,137 |
Other Liabilities Other liabilities consisted of the following:
(in thousands) | June 30, 2026 |  | December 31, 2025
Security bonus plan | $ | 6,927 |  |  | $ | 7,165 |
Deferred compensation | 13,682 |  |  | 12,589 |
Other | 5,925 |  |  | 4,891 |
Total other liabilities | $ | 26,534 |  |  | $ | 24,645 |

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