v3.26.1
Business Combination (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combination, Contingent Consideration
The following table summarizes the estimated fair value of the consideration transferred:
Cash (1)
$108,928 
Common stock issued (2)
9,999 
Contingent consideration53 
$118,980 
(1)    Includes $45.7 million to repay Flatrock’s outstanding line of credit obligation.
(2)    Represents the issuance of 241,803 shares of Common Stock to the Sellers (the number of shares was determined from the 30-day volume weighted-average price as provided for in the SPA).
Schedule of Business Combination
The following table summarizes the preliminary purchase price allocation based on the estimated fair values of the assets acquired and liabilities assumed as of the Acquisition Date:
Cash and cash equivalents$248 
Trade accounts receivable2,753 
Inventory6,893 
Prepaid expenses and other181 
Rental equipment100,596 
Property and equipment9,711 
Other assets1,369 
Goodwill824 
Intangible assets1,151 
Accounts payable(1,898)
Accrued liabilities(1,824)
Deferred income taxes(315)
Other long-term liabilities(709)
$118,980 
The following table summarizes transaction costs, primarily legal and diligence, directly attributable to the Flatrock Acquisition incurred during the three months ended June 30, 2026 which was recorded in selling, general and administrative expenses:
Professional fees (1)
$3,065 
Other costs206 
$3,271 
(1)    Includes legal, business diligence, financial advisory and other consulting fees.
Schedule of Business Combination, Pro Forma Information
The unaudited pro forma financial information presented below is presented for informational purposes only and is not necessarily indicative of the results of operations that would have occurred had the Flatrock Acquisition been consummated at the beginning of the period presented nor is it necessarily indicative of our future results of operations. Future results may vary significantly from the results reflected in this unaudited pro forma financial information.
Three months endedSix months ended
June 30,June 30,
2026202520262025
Revenue$59,843 $50,486 $118,363 $101,225 
Net income$2,852 $5,216 $10,187 $9,799