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Segment Information | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company’s Chief Operating Decision Maker (CODM) is our Chief Executive Officer. The Company operates through two reportable segments in accordance with ASC 280, Segment Reporting: North America (United States and Canada) and International (all other global markets). This structure reflects how the CODM evaluates performance and allocates resources. Across both reportable segments, we manufacture and sell commercial laundry equipment suitable for diverse applications, ranging from small chassis products installed in laundromats, multi-housing facilities and residential settings, to large industrial units designed for institutional laundry applications. The CODM uses Adjusted EBITDA as the primary measure of segment profit and loss to evaluate the Company’s financial performance against expected results and to allocate resources, including capital investment and potential acquisitions. Adjusted EBITDA is a non-GAAP financial measure that is defined as net income excluding interest income/expense, income taxes, depreciation and amortization. Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing the segments’ operating performance, such as refinancing and debt related costs, share-based compensation, strategic transaction costs, foreign exchange on intercompany loans and other non-recurring items which management believes are not indicative of the Company’s ongoing operating performance. Management believes Adjusted EBITDA is the best measure to help users of its financial statements evaluate our operating performance and facilitates more meaningful comparisons with industry peers. Adjusted EBITDA is not intended to serve as an alternative to U.S. GAAP measures of performance and may not be comparable to similarly-titled measures presented by other companies. Assets are physically maintained primarily in the United States, Czech Republic, and Thailand. Total assets by segment are not presented in the table below as the CODM is not provided total assets by reportable segment as the CODM does not evaluate, manage, or measure performance of segments using total assets. The following table presents the results of operations for the Company’s reportable segments, reconciled to consolidated Income before taxes:
| Three Months Ended March 31, 2026 |  | Three Months Ended March 31, 2025
(in thousands) | North America |  | International |  | Total |  | North America |  | International |  | Total
Net revenues | $ | 319,819 |  |  | $ | 107,068 |  |  | $ | 426,887 |  |  | $ | 292,319 |  |  | $ | 97,254 |  |  | $ | 389,573 |
Cost of sales(1) | 203,958 |  |  | 64,715 |  |  |  |  | 185,268 |  |  | 58,517 |  |  |
Other segment items(2) | 28,933 |  |  | 9,795 |  |  |  |  | 26,275 |  |  | 9,937 |  |  |
Adjusted EBITDA | $ | 86,928 |  |  | $ | 32,558 |  |  | $ | 119,486 |  |  | $ | 80,776 |  |  | $ | 28,800 |  |  | $ | 109,576 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  | (17,888) |  |  |  |  |  |  | (44,912) |
Depreciation and amortization |  |  |  |  | (22,504) |  |  |  |  |  |  | (23,314) |
Refinancing and debt related costs |  |  |  |  | (5) |  |  |  |  |  |  | (1,056) |
Foreign exchange gain/(loss) on intercompany loans, net |  |  |  |  | 6,475 |  |  |  |  |  |  | (6,065) |
Share-based compensation |  |  |  |  | (1,895) |  |  |  |  |  |  | (1,003) |
Strategic transaction costs |  |  |  |  | (815) |  |  |  |  |  |  | (862) |
Corporate and other |  |  |  |  | (10,466) |  |  |  |  |  |  | (9,914) |
Income before taxes |  |  |  |  | $ | 72,388 |  |  |  |  |  |  | $ | 22,450 |
__________________ (1)Consists of Cost of sales, Cost of sales - related parties and Equipment financing expenses for North America and Cost of sales and Cost of sales - related parties for International. (2)Other segment items for each reportable segment includes: North America - engineering, sales and marketing, information technology, and certain other overhead expenses. International - engineering, sales and marketing, information technology, and certain other overhead expenses.

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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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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