Segment Information (Tables)

6 Months Ended

Mar. 31, 2026

Schedule of Information About the Company's Segments

The following tables present sales and significant expense categories that align with the segment-level information that is regularly provided to the CODM. Information about the Company's reportable segments follows:

Note 15. Segment Information (continued)



	Three Months Ended March 31, 2026
	Memorialization		Industrial Technologies		Brand Solutions (1)		Reportable Segments Total
Sales	$	215,257	$	43,362	$	—	$	258,619
Cost of sales (2)	(117,455)		(33,095)		(16)		(150,566)
Gross profit (2)	97,802		10,267		(16)		108,053
Selling expense (2)	(21,674)		(4,356)		141		(25,889)
Administrative expense (2)	(27,297)		(9,224)		(9,286)		(45,807)
Other segment items (3)	—		—		18,776		18,776

Adjusted EBITDA	$	48,831	$	(3,313)	$	9,615	$	55,133

Intersegment sales	$	—	$	425	$	—	$	425
Depreciation and amortization	8,041		2,966		—		11,007
Total assets (4)	902,636		310,549		258,193		1,471,378
Capital expenditures	1,907		1,723		134		3,764


	Six Months Ended March 31, 2026
	Memorialization		Industrial Technologies		Brand Solutions (1)		Reportable Segments Total
Sales	$	419,432	$	112,377	$	11,573	$	543,382
Cost of sales (2)	(231,481)		(87,152)		(9,484)		(328,117)
Gross profit (2)	187,951		25,225		2,089		215,265
Selling expense (2)	(44,983)		(11,789)		—		(56,772)
Administrative expense (2)	(55,188)		(21,207)		(13,759)		(90,154)
Other segment items (3)	—		—		33,979		33,979

Adjusted EBITDA	$	87,780	$	(7,771)	$	22,309	$	102,318

Intersegment sales	$	—	$	1,399	$	3	$	1,402
Depreciation and amortization	16,188		6,444		609		23,241

Capital expenditures	6,437		2,018		321		8,776



	Three Months Ended March 31, 2025
	Memorialization		Industrial Technologies		Brand Solutions (1)		Reportable Segments Total
Sales	$	205,620	$	80,835	$	141,174	$	427,629
Cost of sales (2)	(115,339)		(53,495)		(104,874)		(273,708)
Gross profit (2)	90,281		27,340		36,300		153,921
Selling expense (2)	(20,486)		(7,989)		(8,075)		(36,550)
Administrative expense (2)	(24,757)		(13,309)		(12,629)		(50,695)


Adjusted EBITDA	$	45,038	$	6,042	$	15,596	$	66,676

Intersegment sales	$	—	$	64	$	433	$	497
Depreciation and amortization	7,170		5,644		4,718		17,532
Total assets (4)	823,391		443,290		470,851		1,737,532
Capital expenditures	4,266		1,827		2,510		8,603

Note 15. Segment Information (continued)


	Six Months Ended March 31, 2025
	Memorialization		Industrial Technologies		Brand Solutions (1)		Reportable Segments Total
Sales	$	396,106	$	161,368	$	271,997	$	829,471
Cost of sales (2)	(224,232)		(111,346)		(202,766)		(538,344)
Gross profit (2)	171,874		50,022		69,231		291,127
Selling expense (2)	(39,454)		(15,469)		(15,912)		(70,835)
Administrative expense (2)	(50,770)		(26,679)		(25,431)		(102,880)



Adjusted EBITDA	$	81,650	$	7,874	$	27,888	$	117,412

Intersegment sales	$	—	$	374	$	716	$	1,090
Depreciation and amortization	14,372		11,318		13,578		39,268

Capital expenditures	8,756		3,209		6,154		18,119

(1) Amounts do not include revenue recognized by, costs and expenses attributable to, or assets owned by Propelis, since Propelis is a non-consolidated subsidiary accounted for under the equity-method. (see Note 7, "Investments" for further information).

(2) Amounts do not include certain non-cash and/or non-recurring items that do not contribute directly to management's evaluation of its operating results (as described further in the reconciliation of adjusted EBITDA in the table below) and also exclude depreciation, amortization and stock-based compensation expense.

(3) The three and six months ended March 31, 2026 includes the Company's portion of depreciation, intangible amortization, interest expense, and other items incurred by Propelis (see Note 7, "Investments" for further information with respect to the equity-method investment in Propelis).

(4) Total assets represent amounts at March 31, 2026 and 2025, respectively.

A reconciliation of adjusted EBITDA to income (loss) before income taxes and net income (loss) follows:


	Three Months Ended March 31,				Six Months Ended March 31,
	2026		2025		2026		2025

Reportable Segments Adjusted EBITDA	$	55,133	$	66,676	$	102,318	$	117,412
Corporate and Non-Operating	(10,389)		(15,262)		(22,336)		(25,975)
Acquisition and divestiture related items (1)**	(194)		(13,701)		(1,312)		(14,278)
Strategic initiatives and other items (2)**†	(6,394)		(5,373)		(21,644)		(5,988)
Gain (loss) on divestitures, net	(3,945)		(2,072)		109,264		(2,072)
Highly inflationary accounting losses (primarily non-cash) (3)	—		(520)		(16)		(711)


Stock-based compensation	(5,136)		(6,018)		(9,543)		(10,997)

Non-service pension and postretirement expense (4)	(75)		(133)		(113)		(266)
Depreciation and amortization *	(11,508)		(18,231)		(24,204)		(40,735)
Interest expense, including RPA and factoring financing fees (5)	(10,424)		(17,010)		(25,725)		(33,864)
Loss on debt extinguishment	(16,343)		—		(16,343)		—
Propelis depreciation, amortization, interest and other items (6)	(18,776)		—		(33,979)		—

(Loss) income before income taxes	(28,051)		(11,644)		56,367		(17,474)
Income tax benefit (provision)	6,217		2,728		(34,572)		5,086
Net (loss) income	$	(21,834)	$	(8,916)	$	21,795	$	(12,388)

Note 15. Segment Information (continued)


(1) Includes certain non-recurring items associated with recent acquisition and divestiture activities.
(2) Includes certain non-recurring costs associated with commercial, operational and cost-reduction initiatives, and costs associated with global ERP system integration efforts. Also includes legal costs related to an ongoing dispute with Tesla, which totaled $2,175 and $1,757 for the three months ended March 31, 2026 and 2025, respectively, and $11,172 and $8,624 for the six months ended March 31, 2026 and 2025, respectively (see Note 18, "Legal Matters"). Fiscal 2025 includes costs related to the Company's 2025 contested proxy which totaled $4,538 for the three months ended March 31, 2025 and $4,902 for the six months ended March 31, 2025. Fiscal 2025 includes net gains on the sales of certain significant property and other assets of $8,655 for the six months ended March 31, 2025. Fiscal 2025 also includes loss recoveries totaling $1,170 for the six months ended March 31, 2025 which were related to a previously disclosed theft of funds by a former employee initially identified in fiscal 2015.

(3) Represents exchange losses associated with highly inflationary accounting related to certain Turkish subsidiaries which were recently divested (see Note 2, "Basis of Presentation").



(4) Non-service pension and postretirement expense includes interest cost, expected return on plan assets, amortization of actuarial gains and losses, curtailment gains and losses, and settlement gains and losses. These benefit cost components are excluded from adjusted EBITDA since they are primarily influenced by external market conditions that impact investment returns and interest (discount) rates. Curtailment gains and losses and settlement gains and losses are excluded from adjusted EBITDA since they generally result from certain non-recurring events, such as plan amendments to modify future benefits or settlements of plan obligations. The service cost and prior service cost components of pension and postretirement expense are included in the calculation of adjusted EBITDA, since they are considered to be a better reflection of the ongoing service-related costs of providing these benefits. Please note that GAAP pension and postretirement expense or the adjustment above are not necessarily indicative of the current or future cash flow requirements related to these employee benefit plans.
(5) Includes fees for receivables sold under the RPA and factoring arrangements totaling $382 and $1,145 for the three months ended March 31, 2026 and 2025, respectively, and $1,050 and $2,317 for the six months ended March 31, 2026 and 2025, respectively.
(6) Represents the Company's portion of depreciation, intangible amortization, interest expense, and other items incurred by Propelis (see Note 7, "Investments" for further information with respect to the equity-method investment in Propelis).

* Depreciation and amortization was $8,041 and $7,170 for the Memorialization segment, $2,966 and $5,644 for the Industrial Technologies segment, and $501 and $699 for Corporate and Non-Operating, for the three months ended March 31, 2026 and 2025, respectively. Depreciation and amortization was $16,188 and $14,372 for the Memorialization segment, $6,444 and $11,318 for the Industrial Technologies segment, $609 and $13,578 for the Brand Solutions segment, and $963 and $1,467 for Corporate and Non-Operating, for the six months ended March 31, 2026 and 2025, respectively. Depreciation and amortization was $4,718 for the Brand Solutions segment for the three months ended March 31, 2026.

** Acquisition costs, ERP system integration costs, and strategic initiatives and other charges were $380 and $2,410 for the Memorialization segment, $2,739 and $192 for the Industrial Technologies segment, income of $91 and charges of $416 for the Brand Solutions segment, and $3,560 and $16,056 for Corporate and Non-Operating, for the three months ended March 31, 2026 and 2025, respectively. Acquisition costs, ERP system integration costs, and strategic initiatives and other charges were $449 and $3,713 for the Memorialization segment, $13,092 and $4,311 for the Industrial Technologies segment, $3,402 and $1,130 for the Brand Solutions segment, and $6,013 and $11,112 for Corporate and Non-Operating, for the six months ended March 31, 2026 and 2025, respectively.

† Strategic initiatives and other items includes charges for exit and disposal activities (including severance and other employee termination benefits) totaling expenses of $782 and income of $2,471 for the three months ended March 31, 2026 and 2025, respectively, and expenses of $2,305 and income of $1,305 for the six months ended March 31, 2026 and 2025, respectively. Refer to Note 10, "Restructuring" for further details.