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Business Segments (Tables)
6 Months Ended
Jun. 30, 2022
Business Segments  
Schedule of Segment Reporting Information

The table below presents information about reported segments for the three and six months ended June 30 (except for asset information for 2021 that is presented as of December 31):

2022

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

HFS - South

​

HFS - Midwest

​

Government

​

TCPL Keystone

​

All Other

    

Total

For the Six Months Ended June 30, 2022

    

​

​

    

​

​

    

​

​

    

​

​

​

​

​

​

​

​

Revenue

​

$

64,196

​

$

2,410

​

$

121,705

​

$

-

​

$

1,671

(a)

$

189,982

Adjusted gross profit

​

$

27,284

​

$

(392)

​

$

78,575

​

$

-

​

$

(346)

​

$

105,121

Total Assets

​

$

201,829

​

$

41,159

​

$

109,666

​

$

3,007

​

$

1,796

​

$

357,457

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended June 30, 2022

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

32,620

​

$

1,433

​

$

74,915

​

$

-

​

$

679

(a)

$

109,647

Adjusted gross profit

​

$

13,967

​

$

108

​

$

50,699

​

$

-

​

$

(368)

​

$

64,406

​

2021

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

HFS - South

​

HFS - Midwest

​

Government

​

TCPL Keystone

​

All Other

    

Total

For the Six Months Ended June 30, 2021

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

53,283

​

$

1,327

​

$

62,827

​

$

2,403

​

$

638

(a)

$

120,478

Adjusted gross profit

​

$

24,274

​

$

(798)

​

$

40,826

​

$

811

​

$

(235)

​

$

64,878

Total Assets (as of December 31, 2021)

​

$

206,774

​

$

43,504

​

$

87,308

​

$

3,007

​

$

2,412

​

$

343,005

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended June 30, 2021

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

28,190

​

$

730

​

$

44,788

​

$

933

​

$

345

(a)

$

74,986

Adjusted Gross Profit

​

$

13,615

​

$

(249)

​

$

27,023

​

$

604

​

$

(16)

​

$

40,977

​

(a)Revenues from segments below the quantitative thresholds are attributable to three operating segments of the Company and are reported in the “All Other” category previously described.
Schedule of reconciliation of total segment adjusted gross profit

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended

​

For the Six Months Ended

​

​

June 30, 2022

    

June 30, 2021

​

June 30, 2022

    

June 30, 2021

​

​

​

​

​

​

​

​

​

​

​

​

​

Total reportable segment adjusted gross profit

​

$

64,774

​

$

40,993

​

$

105,467

​

$

65,113

Other adjusted gross profit

​

 

(368)

​

 

(16)

​

 

(346)

​

 

(235)

Depreciation and amortization

​

 

(15,446)

​

 

(18,004)

​

 

(32,241)

​

 

(34,440)

Selling, general, and administrative expenses

​

 

(11,103)

​

 

(11,677)

​

 

(22,862)

​

 

(23,009)

Other expense (income), net

​

 

(24)

​

 

(444)

​

 

195

​

 

(690)

Interest expense, net

​

 

(9,667)

​

 

(9,744)

​

 

(19,238)

​

 

(19,594)

Change in fair value of warrant liabilities

​

​

853

​

​

(2,080)

​

​

(374)

​

​

(2,720)

Consolidated income (loss) before income taxes

​

$

29,019

​

$

(972)

​

$

30,601

​

$

(15,575)

Schedule of reconciliation of total segment assets to total combined assets

​

​

​

​

​

​

​

​

​

    

June 30, 2022

​

December 31, 2021

Total reportable segment assets

​

$

355,661

​

$

340,593

Other assets

​

 

2,903

​

 

3,489

Other unallocated amounts

​

 

188,291

​

 

169,310

Total Assets

​

$

546,855

​

$

513,392

Schedule of unallocated assets consist of the following as reported in the combined balance sheets

​

​

​

​

​

​

​

​

​

    

June 30, 2022

    

December 31, 2021

Total current assets

​

$

94,215

​

$

60,536

Other intangible assets, net

​

 

81,630

​

 

88,485

Deferred tax asset

​

 

8,360

​

 

14,710

Deferred financing costs revolver, net

​

 

1,531

​

 

2,159

Other non-current assets

​

 

2,555

​

 

3,420

Total other unallocated amounts of assets

​

$

188,291

​

$

169,310