v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net income (loss) $ (173.4) $ 56.0
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 8.8 6.1
Depreciation and amortization 47.5 48.9
Amortization of deferred financing costs 3.4 4.7
Deferred income taxes (2.4) 4.7
Noncash loss on assets held-for-sale 10.7 12.2
Change in fair value of warrant liability (8.9) (6.6)
Impairment of long-lived assets 191.3 0.0
Loss on disposal of assets 2.0 1.3
Other 19.8 (9.1)
Changes in operating assets and liabilities:    
Accounts receivable (107.7) 45.2
Inventories 39.8 (26.9)
Prepaid expenses and other assets (0.6) 29.2
Accounts payable (4.4) (15.8)
Accrued expenses and other liabilities 1.2 (28.3)
Long-term incentive plan accrual 0.4 1.6
Accrued compensation (16.0) (26.3)
Income taxes receivable and payable, net 4.3 (1.6)
Contract liabilities 6.5 (0.1)
Net cash provided by operating activities 22.3 95.2
Investing Activities    
Purchases of property, plant and equipment (4.5) (6.5)
Proceeds from sale of property, plant and equipment 0.2 38.2
Milestone payment from prior asset acquisition (50.4) 0.0
Milestone proceeds from prior asset divestiture 0.0 50.0
Purchase of convertible note receivable 0.0 (5.0)
Net cash provided by (used in) investing activities (54.7) 76.7
Financing Activities    
Purchases of treasury stock (18.0) (6.9)
Proceeds from stock-based compensation activity 1.4 0.8
Taxes paid for stock-based compensation activity (3.2) (0.7)
Repayment of prior term loan facility (150.0) 0.0
Proceeds from the issuance of debt, net of lender fees 145.5 0.0
Debt issuance and extinguishment costs (11.5) 0.0
Net cash used in financing activities: (35.8) (6.8)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.0 0.3
Net change in cash, cash equivalents and restricted cash (68.2) 165.4
Cash, cash equivalents and restricted cash, beginning of period 209.1 105.6
Cash, cash equivalents and restricted cash, end of period 140.9 271.0
Supplemental cash flow disclosures:    
Cash paid for interest 16.6 24.8
Cash paid for income taxes, net of refunds 9.6 16.6
Non-cash investing and financing activities:    
Purchases of property, plant and equipment unpaid at period end 2.6 2.2
Loss on extinguishment of debt (20.5) 0.0
Excise tax liability accrued for treasury stock purchases 0.2 0.0
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 139.7 267.3
Restricted cash 1.2 3.7
Total $ 140.9 $ 271.0