v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income (loss) $ 3,261 $ (5,224)
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 19,979 17,052
Amortization of debt issuance costs 902 660
Stock-based compensation 974 2,198
Deferred income taxes 476 1,159
Change in fair value of earnout liabilities 1,000 (5)
(Gain) loss on sale of rental equipment (1,026) (432)
(Gain) loss on sale of property, plant and equipment (15) (5)
Net realizable value adjustment and write-offs for obsolete and excess inventory 1,779 1,605
Bad debt expense 437 (333)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (29,587) (6,560)
Inventories (1,822) 1,048
Prepaid expenses and other current assets (4,965) (6,813)
Accounts payable 7,735 3,454
Accrued expenses and other current liabilities (2,957) (1,488)
Other changes in operating assets and liabilities (933) 299
Net cash provided by (used in) operating activities (4,762) 6,615
Investing activities    
Purchases of property, plant and equipment (5,646) (2,454)
Proceeds from sale of property, plant and equipment 990 0
Business acquisitions, net of cash acquired 0 (13,145)
Purchases of rental equipment (2,861) (1,221)
Proceeds from sale of rental equipment 2,464 812
Net cash provided by (used in) investing activities (5,053) (16,008)
Financing activities    
Proceeds from revolving lines of credit 93,502 8,858
Payments on revolving lines of credit (65,334) (11,611)
Payments on term loans (10,063) (625)
Repurchase of common stock (11,203) 0
Shares repurchased held in treasury 0 (449)
Stock option exercises 877 0
Payment of financing lease principal (146) (124)
Net cash provided by (used in) financing activities 7,633 (3,951)
Effect of exchange rate changes on cash and cash equivalents 493 (680)
Increase (decrease) in cash, cash equivalents and restricted cash (1,689) (14,024)
Cash, cash equivalents and restricted cash at beginning of period 81,726 99,626
Cash, cash equivalents and restricted cash at end of period 80,037 85,602
Cash and cash equivalents 65,442 73,097
Restricted cash 14,595 12,505
Total cash, cash equivalents and restricted cash 80,037 85,602
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 3,240 1,702
Net cash paid for interest 13,312 9,269
Net cash paid for interest on supply chain financing 571 572
Non-cash activities:    
Additions of property, plant and equipment included in accounts payable 279 132
Right of use assets obtained in exchange for finance lease liabilities 0 383
Right of use assets obtained in exchange for operating lease liabilities $ 18,414 $ 6,212