v3.26.1
Segments
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segments Segments
Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assessing performance. We have one business activity and there are no segment managers who are held accountable for operations, operating results and plans for products or components below the consolidated unit level. The geographical location of our customers has no impact on strategy or products offered. The “chief operating decision maker,” or CODM, assesses performance and allocates resources using a consolidated profitability metric as discussed below. Accordingly, we have determined that we operate in a single reportable operating segment.
Our CODM is our Chief Executive Officer. On a monthly basis, our CODM reviews the following financial information presented on a consolidated basis. The key profitability metric used for purposes of making key personnel staffing decisions, approving operating budgets and forecasts, and making strategy decisions is Net Income as detailed below. See Note 3 for our disaggregated revenue by type.
Three months ended June 30,Six months ended June 30,
($ in thousands)2026202520262025
Total Revenue$319,674 $270,654 $633,548 $527,089 
Less:
Materials and connectivity67,324 62,271 134,445 122,724 
Labor and associated expenses30,362 24,773 60,276 47,665 
Research and development17,723 12,622 36,091 23,700 
Sales and marketing50,379 43,524 96,209 83,647 
General and administrative36,378 29,192 67,102 52,492 
Depreciation6,992 5,310 13,970 10,575 
Amortization34,474 28,116 68,948 56,231 
Interest and non-operating expenses, net19,646 18,255 40,293 37,155 
Income tax expense15,529 14,407 32,064 31,447 
Segment Net income$40,867 $32,184 $84,150 $61,453 
Consolidated Net income$40,867 $32,184 $84,150 $61,453