v3.25.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net Income (Loss) $ (46,171) $ (38,813)
Adjustments to reconcile net income (loss) to net cash flow from operating activities:    
Depreciation and amortization 128,168 113,958
Amortization of debt issuance costs 2,222 2,879
Provision for losses on accounts receivable 5,008 7,058
Share-based compensation 4,179 6,329
Gain on sales and disposals of rental equipment (21,599) (23,589)
Change in fair value of derivative and warrants 0 (527)
Deferred tax expense (benefit) 7,653 270
Changes in assets and liabilities:    
Accounts and financing receivables 23,375 24,605
Inventories (37,760) (182,751)
Prepaids, operating leases and other (14,541) 4,853
Accounts payable 39,504 3,138
Accrued expenses and other liabilities 18,368 (20,045)
Floor plan payables - trade, net 77,776 132,304
Customer deposits and deferred revenue (4,829) (6,261)
Net cash flow from operating activities 181,353 23,408
Investing Activities    
Acquisition of business, net of cash acquired 0 (6,015)
Purchases of rental equipment (225,299) (165,214)
Proceeds from sales and disposals of rental equipment 93,967 99,576
Purchase of non-rental property and cloud computing arrangements (8,475) (27,035)
Net cash flow for investing activities (139,807) (98,688)
Financing Activities    
Borrowings under revolving credit facilities 144,269 97,520
Repayments under revolving credit facilities (56,694) (62,521)
Proceeds from debt, net issuance costs 0 4,200
Principal payments on long-term debt (4,523) (5,259)
Acquisition of inventory through floor plan payables - non-trade 237,812 320,325
Repayment of floor plan payables - non-trade (326,725) (256,827)
Repurchase of common stock (32,575) (23,014)
Share-based payments (1,453) (1,451)
Net cash flow from financing activities (39,889) 72,973
Effect of exchange rate changes on cash and cash equivalents (203) 57
Net Change in Cash and Cash Equivalents 1,454 (2,250)
Cash and Cash Equivalents at Beginning of Period 3,805 10,309
Cash and Cash Equivalents at End of Period 5,259 8,059
Supplemental Cash Flow Information    
Interest paid 77,619 76,175
Income taxes paid 697 4,105
Non-Cash Investing and Financing Activities    
Rental equipment and property and equipment purchases in accounts payable 1,052 1,128
Rental equipment sales in accounts receivable $ 1,775 $ 8,937