Segments (Tables)

6 Months Ended

Jun. 30, 2025

The Company’s segment results are presented in the tables below:


	Three Months Ended June 30,
	2025
(in $000s)	ERS		TES		APS		Total
Revenue:
Rental	$	117,728	$	—	$	3,086	$	120,814
Equipment sales	52,744		303,368		—		356,112
Parts and services	—		—		34,557		34,557
Total revenue	170,472		303,368		37,643		511,483
Cost of revenue:
Rentals/parts and services	30,328		—		27,934		58,262
Equipment sales	40,396		256,276		—		296,672
Depreciation of rental equipment	53,303		—		704		54,007
Total cost of revenue	124,027		256,276		28,638		408,941
Gross profit	$	46,445	$	47,092	$	9,005	$	102,542

	Three Months Ended June 30,
	2024
(in $000s)	ERS		TES		APS		Total
Revenue:
Rental	$	100,699	$	—	$	2,298	102,997
Equipment sales	37,712		247,921		—		285,633
Parts and services	—		—		34,383		34,383
Total revenue	138,411		247,921		36,681		423,013
Cost of revenue:
Rentals/parts and services	29,281		—		28,562		57,843
Equipment sales	25,792		205,526		—		231,318
Depreciation of rental equipment	43,581		—		1,004		44,585
Total cost of revenue	98,654		205,526		29,566		333,746
Gross profit	$	39,757	$	42,395	$	7,115	$	89,267


	Six Months Ended June 30,
	2025
(in $000s)	ERS		TES		APS		Total
Revenue:
Rental	$	230,693	$	—	$	6,382	$	237,075
Equipment sales	94,127		535,848		—		629,975
Parts and services	—		—		66,665		66,665
Total revenue	324,820		535,848		73,047		933,715
Cost of revenue:
Rentals/parts and services	60,716		—		55,674		116,390
Equipment sales	71,403		453,746		—		525,149
Depreciation of rental equipment	102,627		—		1,471		104,098
Total cost of revenue	234,746		453,746		57,145		745,637
Gross profit	$	90,074	$	82,102	$	15,902	$	188,078

	Six Months Ended June 30,
	2024
(in $000s)	ERS		TES		APS		Total
Revenue:
Rental	$	203,987	$	—	$	5,181	$	209,168
Equipment sales	70,452		487,783		—		558,235
Parts and services	—		—		66,917		66,917
Total revenue	274,439		487,783		72,098		834,320
Cost of revenue:
Rentals/parts and services	59,081		—		54,816		113,897
Equipment sales	49,890		402,228		—		452,118
Depreciation of rental equipment	86,278		—		2,051		88,329
Total cost of revenue	195,249		402,228		56,867		654,344
Gross profit	$	79,190	$	85,555	$	15,231	$	179,976

The following table presents a reconciliation of consolidated gross profit to consolidated income (loss) before income taxes:


	Three Months Ended June 30,				Six Months Ended June 30,
(in $000s)	2025		2024		2025		2024
Gross profit	$	102,542	$	89,267	$	188,078	$	179,976
Selling, general and administrative expenses	59,165		55,697		118,616		113,692
Amortization	6,911		6,692		13,591		13,270
Non-rental depreciation	3,232		3,360		6,572		6,280
Transaction expenses and other	5,303		5,844		8,963		10,690


Interest expense, net	40,204		42,401		79,117		80,316
Financing and other expense (income)	(1,371)		(3,319)		(2,387)		(6,581)
Income (loss) before income taxes	$	(10,902)	$	(21,408)	$	(36,394)	$	(37,691)

The following table presents total assets by country: