| Schedule of Segment Information |
When evaluating the Company’s financial performance, the following table sets forth significant expense categories regularly provided to the CODM:
|
|
|
|
|
|
|
|
|
|
|
For the three months
ended March 31 |
|
|
|
2025 |
|
|
2024 |
|
Net sales |
|
$ |
115,800 |
|
|
$ |
135,143 |
|
Cost of sales |
|
|
|
|
|
|
Material and other costs |
|
|
(76,024 |
) |
|
|
(83,321 |
) |
Warehousing, handling, and outbound freight |
|
|
(9,585 |
) |
|
|
(9,404 |
) |
Total cost of sales |
|
|
(85,609 |
) |
|
|
(92,725 |
) |
Gross profit |
|
|
30,191 |
|
|
|
42,418 |
|
Operating expenses |
|
|
|
|
|
|
Selling, general and administrative |
|
|
(26,628 |
) |
|
|
(29,469 |
) |
Research, product development and regulatory |
|
|
(5,682 |
) |
|
|
(5,706 |
) |
Transformation |
|
|
(2,191 |
) |
|
|
(1,152 |
) |
Operating (loss) income |
|
|
(4,310 |
) |
|
|
6,091 |
|
Change in fair value of an equity investment |
|
|
— |
|
|
|
638 |
|
Interest expense, net |
|
|
(3,765 |
) |
|
|
(3,693 |
) |
(Loss) income before provision for income taxes |
|
|
(8,075 |
) |
|
|
3,036 |
|
Income tax expense |
|
|
(387 |
) |
|
|
(1,484 |
) |
Net (loss) income |
|
$ |
(8,462 |
) |
|
$ |
1,552 |
|
|