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v3.25.1

Segment Information | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information Our business is organized on a geographic basis. We have identified two operating segments, North America and Europe/Asia, based on geographical region. North America and Europe/Asia are also our reportable segments. The combination of these segments represent our total consolidated operations. Our measure of segment profit or loss is earnings before interest, taxes, depreciation and amortization, or “EBITDA.” The following tables present segment operating results by reportable segment:
| Three Months Ended March 31, 2025
| North America |  | Europe/Asia |  | Consolidated
Net product revenue | $ | 36.2 |  |  | $ | 41.4 |  |  | $ | 77.6 |
Machine lease revenue | 6.4 |  |  | 7.2 |  |  | 13.6 |
Net revenue | 42.6 |  |  | 48.6 |  |  | 91.2 |
Less: |  |  |  |  |
Cost of sales excluding depreciation and amortization | 28.2 |  |  | 26.0 |  |  |
Compensation expense(1) | 13.3 |  |  | 13.1 |  |  |
Professional fees | 2.1 |  |  | 0.9 |  |  |
Stock-based compensation | 1.6 |  |  | 0.5 |  |  |
Other operating expense, net | 1.0 |  |  | — |  |  |
Foreign currency gain | (2.2) |  |  | (0.4) |  |  |
Other (income) expense, net(2) | (5.2) |  |  | 5.2 |  |  |
Other segment items(3) | (1.3) |  |  | (1.3) |  |  |
Segment profit | $ | 5.1 |  |  | $ | 4.6 |  |  | $ | 9.7 |
Reconciliation of segment profit to loss before income tax benefit: |  |  |  |  |
Depreciation and amortization expense – COS |  |  |  |  | 6.1 |
Depreciation and amortization expense |  |  |  |  | 9.0 |
Interest expense |  |  |  |  | 8.7 |
Loss before income tax benefit |  |  |  |  | $ | (14.1) |
(1) Includes compensation expense for manufacturing and non-manufacturing employees.
(2) Includes intersegment royalty charges from North America to Europe/Asia for use of trademarks of $5.2 million, which eliminates between the segments on a consolidated basis.
(3) Includes labor and overhead allocation to cost of sales, information technology maintenance costs, amortization of cloud-based software, travel, and other insignificant items.
| Three Months Ended March 31, 2024
| North America |  | Europe/Asia |  | Consolidated
Net product revenue | $ | 26.2 |  |  | $ | 46.3 |  |  | $ | 72.5 |
Machine lease revenue | 5.7 |  |  | 7.1 |  |  | 12.8 |
Net revenue | 31.9 |  |  | 53.4 |  |  | 85.3 |
Less: |  |  |  |  |
Cost of sales excluding depreciation and amortization | 17.0 |  |  | 25.6 |  |  |
Compensation expense(1) | 12.2 |  |  | 13.3 |  |  |
Professional fees | 2.5 |  |  | 1.0 |  |  |
Stock-based compensation | 0.9 |  |  | 0.4 |  |  |
Other operating (income) expense, net | 0.9 |  |  | (0.1) |  |  |
Foreign currency gain | — |  |  | (1.4) |  |  |
Other (income) expense, net(2) | (3.6) |  |  | 3.6 |  |  |
Other segment items(3) | (1.5) |  |  | (0.9) |  |  |
Segment profit | $ | 3.5 |  |  | $ | 11.9 |  |  | $ | 15.4 |
Reconciliation of segment profit to loss before income tax benefit: |  |  |  |  |
Depreciation and amortization expense – COS |  |  |  |  | 10.4 |
Depreciation and amortization expense |  |  |  |  | 8.4 |
Interest expense |  |  |  |  | 6.2 |
Loss before income tax benefit |  |  |  |  | $ | (9.6) |
(1) Includes compensation expense for manufacturing and non-manufacturing employees.
(2) Includes intersegment royalty charges from North America to Europe/Asia for use of trademarks of $3.6 million, which eliminates between the segments on a consolidated basis.
(3) Includes labor and overhead allocation to cost of sales, information technology maintenance costs, amortization of cloud-based software, travel, and other insignificant items.
The following table presents our long-lived assets by segment:
| March 31, 2025 |  | December 31, 2024
North America | $ | 79.4 |  |  | $ | 80.1 |
Europe/Asia | 82.6 |  |  | 78.4 |
Total long-lived assets | $ | 162.0 |  |  | $ | 158.5 |
The following table presents our capital expenditures by segment:
| Three Months Ended March 31,
| 2025 |  | 2024
North America | $ | 3.0 |  |  | $ | 5.3 |
Europe/Asia | 4.5 |  |  | 4.5 |
Capital expenditures for property, plant, and equipment | $ | 7.5 |  |  | $ | 9.8 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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