XML 17 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income (loss) $ 14,716 $ 18,593
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 60,359 54,211
Amortization of debt issuance costs 2,581 2,093
Stock-based compensation 4,624 4,323
Deferred income taxes 975 (2,814)
Change in fair value of earnout liabilities 1,000 861
(Gain) loss on sale of rental equipment (3,454) (1,586)
(Gain) loss on sale of property, plant and equipment (716) 190
Charge for step-up of acquired inventory 0 1,760
Net realizable value adjustment and write-offs for obsolete and excess inventory 5,694 4,311
Bad debt expense 3,480 537
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (44,940) (30,423)
Inventories 1,470 (981)
Prepaid expenses and other current assets 3,743 (33,335)
Accounts payable 27,556 14,091
Accrued expenses and other current liabilities (10,334) (20,183)
Other changes in operating assets and liabilities 152 (912)
Net cash provided by (used in) operating activities 66,906 10,736
Investing activities    
Purchases of property, plant and equipment (15,796) (9,091)
Proceeds from sale of property, plant and equipment 990 0
Business acquisitions, net of cash acquired (2,176) (194,393)
Purchases of rental equipment (12,849) (5,703)
Proceeds from sale of rental equipment 9,367 3,795
Net cash provided by (used in) investing activities (20,464) (205,392)
Financing activities    
Proceeds from revolving lines of credit 205,943 166,777
Payments on revolving lines of credit (204,128) (166,496)
Proceeds from term loans 0 200,000
Payments on term loans (30,188) (22,688)
Deferred financing costs 0 (2,064)
Repurchase of common stock (20,252) (2,580)
Shares repurchased held in treasury (252) (538)
Stock option exercises 877 0
Payment of financing lease principal (445) (462)
Net cash provided by (used in) financing activities (48,445) 171,949
Effect of exchange rate changes on cash and cash equivalents 2,977 (1,151)
Increase (decrease) in cash, cash equivalents and restricted cash 974 (23,858)
Cash, cash equivalents and restricted cash at beginning of period 81,726 99,625
Cash, cash equivalents and restricted cash at end of period 82,700 75,767
Cash and cash equivalents 69,214 61,344
Restricted cash 13,486 14,423
Total cash, cash equivalents and restricted cash 82,700 75,767
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 12,589 13,065
Net cash paid for interest 40,304 38,337
Net cash paid for interest on supply chain financing 2,075 2,121
Non-cash activities:    
Additions of property, plant and equipment included in accounts payable 536 235
Right of use assets obtained in exchange for finance lease liabilities 292 390
Right of use assets obtained in exchange for operating lease liabilities $ 27,924 $ 10,807