v3.26.3
Segment Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
Our business is organized on a geographic basis. We have identified two operating segments, North America and Europe/Asia, based on geographical region. North America and Europe/Asia are also our reportable segments. The combination of these segments represent our total consolidated operations. Our measure of segment profit or loss is earnings before interest, taxes, depreciation and amortization, or “EBITDA.”
The following tables present segment operating results by reportable segment for the three and nine months ended September 30, 2026 and 2025:
Three Months Ended September 30, 2026Nine Months Ended September 30, 2026
North AmericaEurope/AsiaConsolidatedNorth AmericaEurope/AsiaConsolidated
Net product revenue$38.2 $44.9 $83.1 $107.8 $143.5 $251.3 
Machine lease revenue9.6 9.2 18.8 28.4 28.6 57.0 
Net revenue47.8 54.1 101.9 136.2 172.1 308.3 
Less:
Cost of sales excluding depreciation and amortization30.7 27.7 89.3 91.1 
Compensation expense(1)
11.8 12.9 37.6 43.7 
Professional fees1.6 0.8 5.6 2.8 
Stock-based compensation1.0 0.2 3.1 0.6 
Other operating expense, net1.2 0.6 1.4 1.6 
Foreign currency (gain) loss(0.8)1.1 (3.9)5.7 
Other (income) expense, net(2)
(4.4)4.4 (14.3)14.4 
Other segment items(3)
(1.8)(0.8)(4.5)(6.4)
Segment profit$8.5 $7.2 $15.7 $21.9 $18.6 $40.5 
Reconciliation of segment profit to loss before income tax benefit:
Depreciation and amortization expense – COS7.2 22.2 
Depreciation and amortization expense8.8 26.4 
Interest expense8.7 25.4 
Loss before income tax benefit$(9.0)$(33.5)
(1) Includes compensation expense for manufacturing and non-manufacturing employees.
(2) Includes intersegment royalty charges from North America to Europe/Asia for use of trademarks of $4.5 million and $14.4 million for the three and nine months ended September 30, 2026, respectively, which eliminates between the segments on a consolidated basis.
(3) Includes labor and overhead allocation to cost of sales, information technology maintenance costs, amortization of cloud-based software, travel, and other insignificant items.
Three Months Ended September 30, 2025Nine Months Ended September 30, 2025
North AmericaEurope/AsiaConsolidatedNorth AmericaEurope/AsiaConsolidated
Net product revenue$37.2 $46.4 $83.6 $109.1 $129.9 $239.0 
Machine lease revenue7.5 8.5 16.0 20.5 23.6 44.1 
Net revenue44.7 54.9 99.6 129.6 153.5 283.1 
Less:
Cost of sales excluding depreciation and amortization29.0 27.6 85.5 80.7 
Compensation expense(1)
11.5 14.1 37.4 41.1 
Professional fees4.3 0.8 8.8 2.6 
Stock-based compensation1.6 0.5 4.7 1.5 
Other operating expense, net0.8 0.5 2.4 0.9 
Foreign currency loss (gain)— 0.2 6.6 (11.6)
Other (income) expense, net(2)
(3.8)3.8 (22.5)16.6 
Other segment items(3)
(1.7)(1.5)(4.4)(4.4)
Segment profit$3.0 $8.9 $11.9 $11.1 $26.1 $37.2 
Reconciliation of segment profit to loss before income tax benefit:
Depreciation and amortization expense – COS8.6 22.7 
Depreciation and amortization expense9.2 27.0 
Interest expense8.7 25.7 
Loss before income tax benefit$(14.6)$(38.2)
(1) Includes compensation expense for manufacturing and non-manufacturing employees.
(2) Includes intersegment royalty charges from North America to Europe/Asia for use of trademarks of $3.8 million and $16.6 million for the three and nine months ended September 30, 2025, respectively, which eliminates between the segments on a consolidated basis. In addition, in North America, for nine months ended September 30, 2025, includes a $5.8 million gain on our investment in Pickle.
(3) Includes labor and overhead allocation to cost of sales, information technology maintenance costs, amortization of cloud-based software, travel, and other insignificant items.
The following table presents our long-lived assets by segment:
September 30, 2026December 31, 2025
North America$75.9 $73.7 
Europe/Asia81.8 89.0 
Total long-lived assets$157.7 $162.7 
The following table presents our capital expenditures by segment:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
North America$6.3 $3.8 $13.4 $11.3 
Europe/Asia4.0 4.0 11.8 13.8 
Capital expenditures for property, plant, and equipment$10.3 $7.8 $25.2 $25.1