v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
Note 2: Revenue
Revenue Disaggregation
Geographic Areas
The Company had total revenue in the following geographic areas:
Three Months Ended June 30,Six Months Ended June 30,
(in $000s)2026202520262025
United States$553,235 $499,582 $1,008,227 $913,134 
Canada10,211 11,901 16,841 20,581 
Total Revenue$563,446 $511,483 $1,025,068 $933,715 
Major Product Lines and Services
Equipment leasing and equipment sales are the core businesses of the Company, with leasing complemented by the sale of rental units from the rental fleet. The Company’s revenue by major product and service line for the three and six months ended June 30, 2026 and 2025 are presented in the table below.
Three Months Ended June 30,Three Months Ended June 30,
20262025
(in $000s)Topic 842Topic 606TotalTopic 842Topic 606Total
Rental:
Rental$137,243 $— $137,243 $114,639 $— $114,639 
Shipping and handling— 7,817 7,817 — 6,175 6,175 
Total rental revenue137,243 7,817 145,060 114,639 6,175 120,814 
Sales and services:
Equipment sales5,942 377,617 383,559 984 355,128 356,112 
Parts and services2,696 32,131 34,827 3,709 30,848 34,557 
Total sales and services8,638 409,748 418,386 4,693 385,976 390,669 
Total revenue$145,881 $417,565 $563,446 $119,332 $392,151 $511,483 
Six Months Ended June 30,Six Months Ended June 30,
20262025
(in $000s)Topic 842Topic 606TotalTopic 842Topic 606Total
Rental:
Rental$267,851 $— $267,851 $224,924 $— $224,924 
Shipping and handling— 14,424 14,424 — 12,151 12,151 
Total rental revenue267,851 14,424 282,275 224,924 12,151 237,075 
Sales and services:
Equipment sales5,212 670,981 676,193 3,145 626,830 629,975 
Parts and services4,385 62,215 66,600 6,382 60,283 66,665 
Total sales and services9,597 733,196 742,793 9,527 687,113 696,640 
Total revenue$277,448 $747,620 $1,025,068 $234,451 $699,264 $933,715 
Rental revenue is primarily comprised of revenues from rental agreements and freight charges billed to customers. Equipment sales recognized pursuant to sales-type leases are recorded within equipment sales revenue. Charges to customers for damaged rental equipment are recorded within parts and services revenue.
Receivables, Contract Assets and Liabilities
As of June 30, 2026 and December 31, 2025, the Company had net receivables related to sales contracts with customers of $137.3 million and $96.0 million, respectively. As of June 30, 2026 and December 31, 2025, the Company had net receivables related to rental contracts of $107.9 million and $99.5 million, respectively.
The Company manages credit risk associated with its accounts receivable at the customer level. Because the same customers generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below address how credit risk and the Company's allowance for credit losses impact the Company's total revenues.
The Company’s allowance for credit losses reflects its estimate of the amount of receivables that it will be unable to collect. The estimated losses are calculated using the loss rate method based upon a review of outstanding receivables, related aging, including specific accounts if deemed necessary, and on the Company’s historical collection experience. The Company's estimates reflect changing circumstances, including changes in the economy or in the particular circumstances of individual customers, and, as a result, the Company may be required to increase or decrease its allowance.
Accounts receivable, net consisted of the following:
(in $000s)June 30, 2026December 31, 2025
Accounts receivable$262,690 $213,472 
Less: allowance for doubtful accounts(17,457)(17,931)
Accounts receivable, net$245,233 $195,541 
For the six months ended June 30, 2026 and 2025, the Company wrote-off $5.7 million and $5.3 million, respectively, of receivables, net of recoveries.
When customers are billed for rentals in advance of the rental period, the Company defers recognition of revenue. As of June 30, 2026 and December 31, 2025, the Company had approximately $4.9 million and $3.6 million, respectively, of deferred rental revenue. Of the $3.6 million deferred rental revenue as of December 31, 2025, $1.3 million was recorded as revenue during the six months ended June 30, 2026. Additionally, the Company collects deposits from customers for orders placed for equipment and rentals. The Company had approximately $19.8 million and $19.9 million in deposits as of June 30, 2026 and December 31, 2025, respectively. All of the $19.9 million deposit liability balance as of December 31, 2025 was recorded as revenue during the six months ended June 30, 2026 due to performance obligations being satisfied. The Company’s remaining performance obligations on its equipment deposit liabilities have original expected durations of one year or less.
The Company does not have material contract assets, and as such, did not recognize any material impairments of any contract assets.