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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income (loss) $ 8,264 $ (3,328)
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 40,317 35,587
Amortization of debt issuance costs 1,752 1,320
Stock-based compensation 2,224 1,891
Deferred income taxes 1,793 (1,541)
Change in fair value of earnout liabilities 1,000 3
(Gain) loss on sale of rental equipment (2,129) (900)
(Gain) loss on sale of property, plant and equipment (543) (5)
Charge for step-up of acquired inventory 0 634
Net realizable value adjustment and write-offs for obsolete and excess inventory 4,907 3,110
Bad debt expense 2,119 106
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (31,048) (18,331)
Inventories (1,470) (1,636)
Prepaid expenses and other current assets (16,364) (15,345)
Accounts payable 15,552 9,771
Accrued expenses and other current liabilities 1,216 15,636
Other changes in operating assets and liabilities 946 1,037
Net cash provided by (used in) operating activities 28,536 28,009
Investing activities    
Purchases of property, plant and equipment (10,289) (5,829)
Proceeds from sale of property, plant and equipment 990 0
Business acquisitions, net of cash acquired (1,426) (95,437)
Purchases of rental equipment (7,177) (3,214)
Proceeds from sale of rental equipment 5,913 2,110
Net cash provided by (used in) investing activities (11,989) (102,370)
Financing activities    
Proceeds from revolving lines of credit 196,652 84,139
Payments on revolving lines of credit (195,865) (40,285)
Payments on term loans (20,125) (8,188)
Repurchase of common stock (20,256) (1,683)
Shares repurchased held in treasury (45) (538)
Stock option exercises 877 0
Payment of financing lease principal (296) (237)
Net cash provided by (used in) financing activities (39,058) 33,208
Effect of exchange rate changes on cash and cash equivalents 2,548 (1,562)
Increase (decrease) in cash, cash equivalents and restricted cash (19,963) (42,715)
Cash, cash equivalents and restricted cash at beginning of period 81,726 99,626
Cash, cash equivalents and restricted cash at end of period 61,763 56,911
Cash and cash equivalents 47,430 46,786
Restricted cash 14,333 10,125
Total cash, cash equivalents and restricted cash 61,763 56,911
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 9,944 11,015
Net cash paid for interest 26,769 17,943
Net cash paid for interest on supply chain financing 1,350 1,334
Non-cash activities:    
Additions of property, plant and equipment included in accounts payable 317 624
Right of use assets obtained in exchange for finance lease liabilities 292 383
Right of use assets obtained in exchange for operating lease liabilities $ 19,980 $ 8,849