v3.26.1
SEGMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Sales and Other Financial Information by Reportable Segment
Sales and other financial information by reportable segment for the three months ended June 30, 2026, and June 30, 2025, are as follows:
Three Months Ended
June 30, 2026
Segment
North AmericaEurope and
ROW		Total
New Business$323,151 $110,348 $433,499 
After Sales33,112 29,797 62,909 
Segment sales$356,263 $140,145 $496,408 
Depreciation and amortization expense$12,598 $1,554 $14,152 
Segment assets$1,548,362 $467,349 $2,015,711 
Capital expenditures$1,873 $662 $2,535 
Three Months Ended
June 30, 2025
Segment
North AmericaEurope and
ROW		Total
New Business$134,876 $103,254 $238,130 
After Sales
11,368 28,245 39,613 
Segment sales
$146,244 $131,499 $277,743 
Depreciation and amortization expense$4,807 $1,619 $6,426 
Segment assets$742,711 $476,143 $1,218,854 
Capital expenditures$1,263 $841 $2,104 
Segment Adjusted EBITDA is as follows:
Three Months Ended
June 30, 2026		Three Months Ended
June 30, 2025
North
America		Europe and
ROW		North AmericaEurope and
ROW
Sales$356,263 $140,145 $146,244 $131,499 
Cost of products sold287,130 111,986 115,286 105,625 
Research and development1,722 4,716 604 4,828 
Selling, general and administrative39,642 16,060 16,153 17,421 
Other segment items(1)
(7,733)772 (1,823)(1,644)
Segment Adjusted EBITDA$35,502 $6,611 $16,024 $5,269 
(1)Other segment items include, other operating income and expenses, other income and expenses, depreciation and amortization, transaction related expenses, integration costs, non-service cost related pension expense and legacy plan, foreign exchange gain on external debts and other non-recurring.
Sales and other financial information by reportable segment for the six months ended June 30, 2026, and June 30, 2025 are as follows:
Six Months Ended
June 30, 2026
Segment
North AmericaEurope and
ROW		Total
New Business$623,827 $191,342 $815,169 
After Sales69,758 67,026 136,784 
Segment sales$693,585 $258,368 $951,953 
Depreciation and amortization expense$24,813 $3,142 $27,955 
Segment assets$1,548,362 $467,349 $2,015,711 
Capital expenditures$2,740 $1,761 $4,501 
Six Months Ended
June 30, 2025
Segment
North AmericaEurope and
ROW		Total
New Business$265,132 $175,906 $441,038 
After Sales
28,403 57,488 85,891 
Segment sales
$293,535 $233,394 $526,929 
Depreciation and amortization expense$9,946 $3,105 $13,051 
Segment assets$742,711 $476,143 $1,218,854 
Capital expenditures$3,420 $1,804 $5,224 
Segment Adjusted EBITDA is as follows:
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
North
America		Europe and
ROW		North
America		Europe and
ROW
Sales$693,585 $258,368 $293,535 $233,394 
Cost of products sold563,165 204,107 232,195 184,596 
Research and development3,355 9,784 1,205 8,854 
Selling, general and administrative78,964 35,285 28,687 35,611 
Other segment items(1)
(13,764)(4,173)(3,612)(3,177)
Segment Adjusted EBITDA$61,865 $13,365 $35,060 $7,510 
(1)Other segment items include, other operating income and expenses, other income and expenses, depreciation and amortization, transaction related expenses, integration costs, non-service cost related pension expense and legacy plan, foreign exchange gain on external debts and other non-recurring items.
Schedule of Reconciliation of Total Segment Adjusted EBITDA to Income (Loss) Before Income Taxes
The reconciliation of total Segment Adjusted EBITDA to Income (loss) before income taxes is as follows:
Three Months Ended
June 30,
20262025
Total Segment Adjusted EBITDA$42,113 $21,293 
Interest expense(11,126)(9,303)
Foreign exchange losses on external debt23 (2,600)
Depreciation and amortization(14,152)(6,426)
Restructuring and other related expenses(903)(393)
Transaction related expenses— (6,065)
Integration costs(638)— 
Settlement of acquisition(414)(456)
Pension related income, net739 1025 
Legal matters33 (586)
Change in provision for contingencies475 329 
Non-cash stock-based compensation expenses(438)— 
Other non-operating one-off items(390)(30)
Income (loss) before income taxes$15,322 $(3,212)
The reconciliation of total Segment Adjusted EBITDA to Income (loss) before income taxes is as follows:
Six Months Ended
June 30,
20262025
Total Segment Adjusted EBITDA$75,230 $42,570 
Interest expense(22,476)(15,806)
Foreign exchange gains/losses on external debt(277)(3,582)
Depreciation and amortization(27,955)(13,051)
Restructuring and other related expenses(1,818)(767)
Transaction related expenses— (10,708)
Integration costs(3,939)— 
Settlement of acquisition(848)(868)
Pension related income, net1,515 1,954 
Legal matters(1,394)(586)
Change in provision for contingencies763 539 
Non-cash stock-based compensation expenses(973)— 
Other non-operating one-off items(1,347)(58)
Income (loss) before income taxes$16,481 $(363)
Schedule of Disaggregated by Geography of Sales
The following table presents sales disaggregated by geography which exceed 10% of total sales:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
U.S.$340,888 $139,739 $669,126 $274,187 
Switzerland16,774 13,541 30,064 24,746 
Other138,746 124,463 252,763 227,996 
Total sales$496,408 $277,743 $951,953 $526,929 
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
U.S.68.7 %50.3 %70.3 %52.0 %
Switzerland3.4 %4.9 %3.2 %4.7 %
Other27.9 %44.8 %26.5 %43.3 %
Total sales100.0 %100.0 %100.0 %100.0 %
The following table presents assets disaggregated by geography that exceeds 10% of total assets:
As of
June 30, 2026December 31, 2025
U.S.$1,523,037 $1,495,145 
Switzerland166,177 177,549 
Other326,497 335,585 
Total assets$2,015,711 $2,008,279 
As of
June 30, 2026December 31, 2025
U.S.75.6 %74.4 %
Switzerland8.2 %8.8 %
Other16.2 %16.8 %
Total assets100.0 %100.0 %