v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of selected financial data for reportable segments
The following table is representative of the significant categories, including significant expenses, regularly provided to the CODM when managing the Company’s single reporting segment.
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in thousands)
Revenue$606,030 $550,785 $1,175,585 $1,051,537 
Expenses:(1)
Personnel expenses
335,693 307,466 657,861 589,124 
Facility expenses
52,208 51,292 104,423 99,674 
Other expenses
77,195 77,009 151,679 145,062 
Total segment expenses465,096 435,767 913,963 833,860 
Segment Adjusted EBITDA$140,934 $115,018 $261,622 $217,677 
Total assets$3,010,275 $2,841,584 $3,010,275 $2,841,584 
Purchases of property and equipment$15,665 $25,226 $26,753 $40,958 
Depreciation and amortization$19,899 $18,998 $39,547 $35,617 
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(1)    Includes transition services agreement fees of $1.0 million and $3.5 million for the three months ended June 30, 2026 and 2025, and $2.7 million and $7.2 million for the six months ended June 30, 2026 and 2025, respectively. See Note 12—“Relationship with Select”, for additional information.
Schedule of reconciliation of Adjusted EBITDA to income before income taxes
The following table reconciles Segment Adjusted EBITDA to income before income taxes for the periods indicated.
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in thousands)
Segment Adjusted EBITDA
$140,934 $115,018 $261,622 $217,677 
Interest expense
(25,723)(28,193)(51,726)(53,741)
Loss on early retirement of debt
— — — (875)
Stock compensation expense
(4,130)(2,285)(8,265)(4,554)
Depreciation and amortization
(19,899)(18,998)(39,547)(35,617)
Separation transaction costs(1)
(1,777)(1,360)(2,853)(1,675)
Nova and Pivot Onsite Innovations acquisition costs
(60)(2,833)(279)(5,970)
Income before income taxes
$89,345 $61,349 $158,952 $115,245 
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(1)    Separation transaction costs represent non-recurring incremental consulting, legal, audit-related fees, system implementation, and software disposal costs incurred in connection with the Company’s separation from Select into a new, publicly traded company and are included within general and administrative expenses on the condensed consolidated statements of operations.