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v3.25.1

Supplemental Balance Sheet Data and Cash Flow Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Components of Accounts Receivable, Net | Accounts Receivable, net — The components of accounts receivable, net were as follows:
| March 31, 2025 |  | December 31, 2024
Accounts receivable | $ | 43.6 |  |  | $ | 44.4 |
Allowance for doubtful accounts | (0.6) |  |  | (0.5) |
Accounts receivable, net | $ | 43.0 |  |  | $ | 43.9 |
Schedule of Components of Inventories | Inventories — The components of inventories were as follows:
| March 31, 2025 |  | December 31, 2024
Raw materials | $ | 17.5 |  |  | $ | 12.5 |
Work-in-process | 3.4 |  |  | — |
Finished goods | 14.4 |  |  | 9.2 |
Inventories | $ | 35.3 |  |  | $ | 21.7 |
Schedule of Property, Plant and Equipment | Property, Plant, and Equipment, net — The following table details our property, plant, and equipment, net:
| March 31, 2025 |  | December 31, 2024
Land | $ | 2.4 |  |  | $ | 2.4 |
Buildings and improvements | 12.7 |  |  | 12.5 |
Leasehold improvements | 21.4 |  |  | 20.7 |
Machinery and equipment | 40.3 |  |  | 39.6 |
Computer and office equipment | 19.1 |  |  | 18.7 |
Converting machines | 232.1 |  |  | 222.0 |
Total property, plant, and equipment | 328.0 |  |  | 315.9 |
Accumulated depreciation | (187.6) |  |  | (178.3) |
Property, plant, and equipment, net | $ | 140.4 |  |  | $ | 137.6 |
We did not capitalize any interest in the periods presented. Depreciation expense recorded in cost of sales and depreciation and amortization in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) was as follows:
| Three Months Ended March 31,
| 2025 |  | 2024
Cost of sales | $ | 6.1 |  |  | $ | 10.4 |
Depreciation and amortization expense | 1.7 |  |  | 1.2 |
Total depreciation expense | $ | 7.8 |  |  | $ | 11.6 |
Schedule of Accrued Liabilities and Other | Accrued Liabilities and Other – The components of accrued liabilities and other were as follows:
| March 31, 2025 |  | December 31, 2024
Employee compensation | $ | 8.3 |  |  | $ | 4.7 |
Taxes | 10.7 |  |  | 7.9 |
Professional fees | 3.5 |  |  | 2.2 |
Bonus | 3.4 |  |  | 8.0 |
Interest | 0.1 |  |  | 1.2 |
Warranty reserve | 0.8 |  |  | 0.9 |
Amounts owed to customers | 0.3 |  |  | 1.0 |
Current portion of cross currency swaps | 6.5 |  |  | — |
Other | 3.9 |  |  | 2.6 |
Accrued liabilities and other | $ | 37.5 |  |  | $ | 28.5 |
Schedule of Supplemental Cash Flow Information | Supplemental Cash Flow Information — Supplemental cash flow information is as follows:
| Three Months Ended March 31,
| 2025 |  | 2024
Supplemental cash flow information |  |  |
Interest paid | $ | 10.3 |  |  | $ | 6.0 |
Income taxes paid | $ | — |  |  | $ | 0.4 |
Non-cash investing activities |  |  |
Capital expenditures in accounts payable | $ | 2.1 |  |  | $ | 0.6 |

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