v3.26.3
Revenue
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
Note 2: Revenue
Revenue Disaggregation
Geographic Areas
The Company had total revenue in the following geographic areas:
Three Months Ended September 30,Nine Months Ended September 30,
(in $000s)2026202520262025
United States$482,011 $472,333 $1,490,238 $1,385,467 
Canada13,213 9,725 30,054 30,306 
Total Revenue$495,224 $482,058 $1,520,292 $1,415,773 
Major Product Lines and Services
Equipment leasing and equipment sales are the core businesses of the Company, with leasing complemented by the sale of rental units from the rental fleet. The Company’s revenue by major product and service line for the three and nine months ended September 30, 2026 and 2025 are presented in the table below.
Three Months Ended September 30,Three Months Ended September 30,
20262025
(in $000s)Topic 842Topic 606TotalTopic 842Topic 606Total
Rental:
Rental$144,599 $— $144,599 $120,203 $— $120,203 
Shipping and handling— 8,097 8,097 — 6,939 6,939 
Total rental revenue144,599 8,097 152,696 120,203 6,939 127,142 
Sales and services:
Equipment sales(1,142)310,739 309,597 383 320,200 320,583 
Parts and services2,266 30,665 32,931 1,619 32,714 34,333 
Total sales and services1,124 341,404 342,528 2,002 352,914 354,916 
Total revenue$145,723 $349,501 $495,224 $122,205 $359,853 $482,058 
Nine Months Ended September 30,Nine Months Ended September 30,
20262025
(in $000s)Topic 842Topic 606TotalTopic 842Topic 606Total
Rental:
Rental$412,450 $— $412,450 $345,127 $— $345,127 
Shipping and handling— 22,521 22,521 — 19,090 19,090 
Total rental revenue412,450 22,521 434,971 345,127 19,090 364,217 
Sales and services:
Equipment sales4,070 981,720 985,790 3,528 947,030 950,558 
Parts and services6,651 92,880 99,531 8,001 92,997 100,998 
Total sales and services10,721 1,074,600 1,085,321 11,529 1,040,027 1,051,556 
Total revenue$423,171 $1,097,121 $1,520,292 $356,656 $1,059,117 $1,415,773 
Rental revenue is primarily comprised of revenues from rental agreements and freight charges billed to customers. Equipment sales recognized pursuant to sales-type leases are recorded within equipment sales revenue. Charges to customers for damaged rental equipment are recorded within parts and services revenue.
Receivables, Contract Assets and Liabilities
As of September 30, 2026 and December 31, 2025, the Company had net receivables related to sales contracts with customers of $94.6 million and $96.0 million, respectively. As of September 30, 2026 and December 31, 2025, the Company had net receivables related to rental contracts of $110.3 million and $99.5 million, respectively.
The Company manages credit risk associated with its accounts receivable at the customer level. Because the same customers generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below address how credit risk and the Company's allowance for credit losses impact the Company's total revenues.
The Company’s allowance for credit losses reflects its estimate of the amount of receivables that it will be unable to collect. The estimated losses are calculated using the loss rate method based upon a review of outstanding receivables, related aging, including specific accounts if deemed necessary, and on the Company’s historical collection experience. The Company's estimates reflect changing circumstances, including changes in the economy or in the particular circumstances of individual customers, and, as a result, the Company may be required to increase or decrease its allowance.
Accounts receivable, net consisted of the following:
(in $000s)September 30, 2026December 31, 2025
Accounts receivable$219,437 $213,472 
Less: allowance for credit losses(14,537)(17,931)
Accounts receivable, net$204,900 $195,541 
For the nine months ended September 30, 2026 and 2025, the Company wrote-off $6.3 million and $8.0 million, respectively, of receivables, net of recoveries.
When customers are billed for rentals in advance of the rental period, the Company defers recognition of revenue. As of September 30, 2026 and December 31, 2025, the Company had approximately $4.7 million and $3.6 million, respectively, of deferred rental revenue. Of the $3.6 million deferred rental revenue as of December 31, 2025, $2.4 million was recorded as revenue during the nine months ended September 30, 2026. Additionally, the Company collects deposits from customers for orders placed for equipment and rentals. The Company had approximately $23.1 million and $19.9 million in deposits as of September 30, 2026 and December 31, 2025, respectively. All of the $19.9 million deposit liability balance as of December 31, 2025 was recorded as revenue during the nine months ended September 30, 2026 due to performance obligations being satisfied. The Company’s remaining performance obligations on its equipment deposit liabilities have original expected durations of one year or less.
The Company does not have material contract assets, and as such, did not recognize any material impairments of any contract assets.