v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Mar. 05, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Current assets          
Cash and cash equivalents $ 11,249 $ 17,824 $ 18,449    
Restricted cash 10,616 10,616 1,393    
Accounts receivable, net 88,270 79,124 75,979    
Inventories, net 50,550 50,400 56,553    
Prepaid expenses 12,106 12,145 13,538    
Other current assets 2,064 2,044 2,919    
Total current assets 174,855 172,153 168,831    
Property and equipment, net 109,013 107,499 64,266    
Fair value adjustment to operating lease right-of-use assets 32,482 31,261 34,105    
Finance lease right of use assets, net 52 55 16    
Intangible assets, net 9,103 9,171 68,063    
Other long-term assets 535 536 4,183    
Total assets 326,040 320,675 339,464    
Current liabilities          
Accounts payable 41,453 39,070 43,564    
Accrued expenses 23,662 20,645 27,764    
Income taxes payable 374 465 356    
Current portion of long-term debt 3,978 4,760 6,310    
Current portion of operating lease obligations 12,454 11,695 13,409    
Current portion of finance lease obligations 50 55 6    
Total current liabilities 81,971 76,690 91,409    
Long-term liabilities          
Long-term debt 90,439 90,305 341,572    
Long-term operating lease obligations 19,602 18,389 21,352    
Other long-term liabilities 45 87 87    
Total liabilities 192,057 185,471 454,420    
Commitments and contingencies (Note 11)    
Stockholders’ equity (deficit)          
Predecessor common stock (120,000,000 shares authorized at $0.01 par value; 43,326,339 shares issued and outstanding at December 31, 2025) 139   433    
Additional paid-in capital 135,065   808,432    
Accumulated other comprehensive income (loss) 32 0 (5,187)    
Accumulated deficit (1,253) 0 (918,634)    
Total stockholders’ equity (deficit) 133,983 135,204 (114,956) $ (72,113) $ (66,064)
Total liabilities and stockholders’ equity (deficit) $ 326,040 $ 320,675 $ 339,464