v3.26.1
Supplemental Financial Statement Information
 6 Months Ended
Jun. 30, 2026
Condensed Financial Information Disclosure [Abstract]  
Supplemental Financial Statement Information
Note 5 – Supplemental Financial Statement Information

Restricted Cash

The Company agreed to maintain restricted cash of $8.5 million as of June 30, 2026 and $13.6 million as of December 31, 2025, under agreements with outside parties. The restricted cash balances of $8.5 million as of June 30, 2026 and December 31, 2025 represent deposits placed with certain lenders under the Amended Credit Agreement, and the Company is restricted from withdrawing these balances without the prior consent of the respective lenders. The remaining restricted cash balance of $5.1 million as of December 31, 2025 represents escrow accounts that were established in conjunction with certain business acquisitions, which were released during the six months ended June 30, 2026, after meeting certain working capital and other post-closing requirements as of the contractual post-acquisition dates.

Property, Plant and Equipment, net

Components of property, plant and equipment, net were as follows:
(in thousands)June 30, 2026December 31, 2025
Land$16,928 $16,566 
Buildings and improvements74,434 67,508 
Machinery and equipment64,196 62,750 
Capitalized software24,027 21,492 
Furniture and fixtures12,357 12,275 
Vehicles6,894 6,720 
Construction in progress(1)
3,494 8,112 
Total202,330 195,423 
Accumulated depreciation and amortization(77,954)(68,818)
Property, plant and equipment, net$124,376 $126,605 
(1)Construction in progress primarily relates to upgrades to certain of the Company’s information technology systems and distribution facilities that we expect to place in service in the next twelve months.

Depreciation expense for property, plant and equipment and amortization expense for capitalized software, which are included in Selling, general and administrative expenses in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss), were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Depreciation expense for property, plant and equipment$4,329 $4,691 $8,709 $9,463 
Amortization expense for capitalized software$1,189 $1,062 $2,315 $1,929 
Rental Equipment, net

Rental equipment, net consisted of the following:
(in thousands)June 30, 2026December 31, 2025
Rental equipment$74,045 $68,401 
Accumulated depreciation(31,922)(29,445)
Rental equipment, net$42,123 $38,956 

Depreciation expense for rental equipment, which is included in Cost of goods sold in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss), was as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Depreciation expense for rental equipment$3,199 $2,935 $6,413 $5,690 

Refer to Note 4 – Revenue Recognition for a discussion on the Company’s activities as lessor.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:
(in thousands)June 30, 2026December 31, 2025
Accrued compensation$26,852 $29,267 
Contract liabilities8,902 5,207 
Accrued and withheld taxes, other than income taxes7,951 10,263 
Accrued customer rebates7,537 7,847 
Accrued severance and acquisition related retention bonus2,649 1,966 
Accrued interest2,219 1,647 
Accrued health benefits1,496 1,615 
Deferred acquisition payments and accrued earnout liabilities982 6,021 
Accrued income taxes709 793 
Accrued stock-based compensation326 326 
Other21,941 19,185 
Total accrued expenses and other current liabilities$81,564 $84,137 

Other Liabilities

Other liabilities consisted of the following:
(in thousands)June 30, 2026December 31, 2025
Security bonus plan$6,927 $7,165 
Deferred compensation13,682 12,589 
Other5,925 4,891 
Total other liabilities$26,534 $24,645