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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Income (Loss) Before Provision for Income Taxes | The components of the Company’s income (loss) before provision for income taxes are as follows (in thousands):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
U.S. | $ | 105,078 |  |  | $ | 113,045 |  |  | $ | 136,498 |
Foreign | (134,295) |  |  | (363,621) |  |  | 40,659 |
Income (loss) before provision for income taxes | $ | (29,217) |  |  | $ | (250,576) |  |  | $ | 177,157 |
Schedule of Components of Income Tax Expense (Benefit) | The provision for income taxes charged to operations consists of the following (in thousands):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Current expense (benefit): |  |  |  |  |
U.S. Federal | $ | 15,364 |  |  | $ | 21,686 |  |  | $ | 26,592 |
U.S. State | 4,741 |  |  | 2,707 |  |  | 5,678 |
Spain | (536) |  |  | 986 |  |  | 1,507 |
Other Countries | 254 |  |  | 2,089 |  |  | 15,002 |
| 19,823 |  |  | 27,468 |  |  | 48,779 |
Deferred expense (benefit): |  |  |  |  |
U.S. Federal | 4,615 |  |  | (1,361) |  |  | 942 |
U.S. State | (778) |  |  | (406) |  |  | (327) |
Spain | (617) |  |  | (2,849) |  |  | (2,989) |
Other Countries | (25) |  |  | (33,034) |  |  | (6,488) |
| 3,195 |  |  | (37,650) |  |  | (8,862) |
Total income tax expense (benefit) | $ | 23,018 |  |  | $ | (10,182) |  |  | $ | 39,917 |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities were as follows (in thousands):
| December 31,
| 2025 |  | 2024
Deferred tax assets: |  |  |
Bad debts | $ | 782 |  |  | $ | 143 |
Inventories | 5,404 |  |  | 5,439 |
Accrued warranties | 7,720 |  |  | 4,753 |
Accrued compensation | 818 |  |  | 496 |
Net operating loss | 16,124 |  |  | 4,247 |
Equity-based compensation | 4,026 |  |  | 2,769 |
Lease liabilities | 24,110 |  |  | 4,982 |
Premium on capped call | 13,197 |  |  | 7,777 |
Capitalized R&D expenses | (391) |  |  | 6,405 |
Other | 8,477 |  |  | 5,244 |
Deferred tax assets | 80,267 |  |  | 42,255 |
Valuation allowance | (22,020) |  |  | (11,181) |
Deferred tax assets, net | 58,247 |  |  | 31,074 |
Deferred tax liabilities: |  |  |
Property, plant, and equipment | (7,050) |  |  | (2,349) |
Intangible assets | (25,275) |  |  | (28,450) |
ROU assets | (24,090) |  |  | (3,919) |
Deferred tax liabilities | (56,415) |  |  | (34,718) |
Deferred tax asset (liability), net | $ | 1,832 |  |  | $ | (3,644) |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax expense computed at the federal statutory rate to the actual income tax expense at the Company’s effective rate is as follows (in thousands):
| Year Ended December 31,
| 2025 |  | % |  | 2024 |  | % |  | 2023 |  | %
Adjusted pre-tax book (loss) income | $ | (29,217) |  |  |  |  | $ | (250,576) |  |  |  |  | $ | 177,157 |  |  |
Federal statutory tax rate | (6,136) |  |  | 21.0 | % |  | (52,621) |  |  | 21.0 | % |  | 37,204 |  |  | 21.0 | %
State and local income taxes | 2,968 |  |  | (10.2) | % |  | 1,732 |  |  | (0.7) | % |  | 4,150 |  |  | 2.3 | %
Foreign tax effects | 17,047 |  |  | (58.4) | % |  | 35,929 |  |  | (14.3) | % |  | (2,650) |  |  | (1.5) | %
Brazil | (3,567) |  |  | 12.2 | % |  | 35,831 |  |  | (14.3) | % |  | 3,420 |  |  | 1.9 | %
Tax rate differential | (3,894) |  |  | 13.3 | % |  | (14,311) |  |  | 5.7 | % |  | 3,143 |  |  | 1.8 | %
Non-deductible goodwill | — |  |  | — | % |  | 49,560 |  |  | (19.8) | % |  | — |  |  | — | %
Non-deductible expenses | 327 |  |  | (1.1) | % |  | 582 |  |  | (0.2) | % |  | 277 |  |  | 0.2 | %
South Africa | (437) |  |  | 1.5 | % |  | (53) |  |  | — | % |  | (148) |  |  | (0.1) | %
Spain | 21,204 |  |  | (72.6) | % |  | 975 |  |  | (0.4) | % |  | (5,438) |  |  | (3.1) | %
Non-deductible goodwill | 21,538 |  |  | (73.7) | % |  | — |  |  | — | % |  | — |  |  | — | %
Other | (334) |  |  | 1.1 | % |  | 975 |  |  | (0.4) | % |  | (5,438) |  |  | (3.1) | %
All others | (153) |  |  | 0.5 | % |  | (824) |  |  | 0.3 | % |  | (484) |  |  | (0.3) | %
Valuation allowances | 9,660 |  |  | (33.1) | % |  | 7,760 |  |  | (3.1) | % |  | 911 |  |  | 0.5 | %
Brazil | 10,183 |  |  | (34.9) | % |  | 7,760 |  |  | (3.1) | % |  | 911 |  |  | 0.5 | %
South Africa | (523) |  |  | 1.8 | % |  | — |  |  | — | % |  | — |  |  | — | %
R&D credits | (816) |  |  | 2.8 | % |  | (3,623) |  |  | 1.5 | % |  | (407) |  |  | (0.2) | %
Uncertain tax positions | 122 |  |  | (0.4) | % |  | 714 |  |  | (0.3) | % |  | — |  |  | — | %
Non-taxable or non-deductible items | 668 |  |  | (2.3) | % |  | (9) |  |  | — | % |  | 377 |  |  | 0.2 | %
Investment tax credits included in Cost of product and service revenue | (1,812) |  |  | 6.2 | % |  | (931) |  |  | 0.4 | % |  | — |  |  | — | %
Compensation | 1,508 |  |  | (5.2) | % |  | 945 |  |  | (0.4) | % |  | (414) |  |  | (0.2) | %
Contingent consideration | 761 |  |  | (2.6) | % |  | 26 |  |  | — | % |  | 622 |  |  | 0.3 | %
Non-deductible expenses | 211 |  |  | (0.7) | % |  | (49) |  |  | — | % |  | 169 |  |  | 0.1 | %
Other adjustments | (495) |  |  | 1.7 | % |  | (64) |  |  | — | % |  | 332 |  |  | 0.2 | %
Total | $ | 23,018 |  |  | (78.8) | % |  | $ | (10,182) |  |  | 4.1 | % |  | $ | 39,917 |  |  | 22.5 | %
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the unrecognized tax benefits included within Other long-term liabilities in the consolidated statements of operations is as follows (in thousands):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Unrecognized tax benefits – January 1 | $ | 714 |  |  | $ | — |  |  | $ | — |
Gross increases – tax positions in prior period | — |  |  | 533 |  |  | — |
Gross decreases – tax positions in prior period | — |  |  | — |  |  | — |
Gross increases – tax positions in current period | 122 |  |  | 181 |  |  | — |
Settlement | — |  |  | — |  |  | — |
Lapse of statute of limitations | — |  |  | — |  |  | — |
Unrecognized tax benefits – December 31 | $ | 836 |  |  | $ | 714 |  |  | $ | — |

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