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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Our reportable segments are SendTech Solutions and Presort Services. SendTech Solutions includes the revenue and related expenses from physical and digital shipping and mailing technology solutions, financing, services, supplies and other applications to help simplify and save on the sending, tracking and receiving of letters, parcels and flats. Presort Services includes the revenue and related expenses from sortation services to qualify large volumes of First Class Mail, Marketing Mail and Marketing Mail Flats/Bound Printed Matter for postal worksharing discounts.
Other operations includes the revenue and related expenses of prior operations and shared services of the Global Ecommerce reporting segment that did not qualify for discontinued operations treatment.
Management, including our Chief Executive Officer, who is the Chief Operating Decision Maker (CODM), measures segment profitability and performance using adjusted segment earnings before interest and taxes (EBIT). Adjusted segment EBIT is calculated as segment revenues less the related costs and expenses attributable to the segment. Adjusted segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges, and other items not allocated to our segments. Management believes that adjusted segment EBIT provides investors a useful measure of operating performance and underlying trends of the business. Adjusted segment EBIT may not be indicative of our overall consolidated performance and therefore, should be read in conjunction with our consolidated results of operations. The following tables provide information about our reportable segments and a reconciliation of adjusted segment EBIT to income or loss from continuing operations before taxes.
Revenue
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
SendTech Solutions$311,716 $339,273 $627,322 $686,094 
Presort Services150,193 146,858 328,007 316,665 
Total segment revenue461,909 486,131 955,329 1,002,759 
Other
— 3,614 — 8,255 
Total revenue$461,909 $489,745 $955,329 $1,011,014 


Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
SendTech Solutions
Revenue$311,716 $339,273 $627,322 $686,094 
Less:
Cost of revenue105,653 120,647 211,683 244,491 
Operating expenses
104,808 122,603 217,357 249,666 
Adjusted segment EBIT$101,255 $96,023 $198,282 $191,937 
Presort Services
Revenue$150,193 $146,858 $328,007 $316,665 
Less:
Cost of revenue
96,153 100,800 200,787 208,127 
Operating expenses
18,100 19,010 36,501 41,161 
Adjusted segment EBIT$35,940 $27,048 $90,719 $67,377 
Adjusted Segment EBIT
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
SendTech Solutions$101,255 $96,023 $198,282 $191,937 
Presort Services35,940 27,048 90,719 67,377 
Total adjusted segment EBIT137,195 123,071 289,001 259,314 
Reconciliation of adjusted segment EBIT to income or loss from continuing operations before taxes:
 
Other operations
— (4,121)— (4,831)
Interest expense, net(37,499)(44,218)(75,384)(88,127)
Corporate expenses
(34,902)(44,293)(67,019)(86,495)
Restructuring charges
(13,806)(30,399)(15,206)(34,165)
Gain (loss) on debt redemption/refinancing
282 — (24,364)— 
Foreign currency (loss) gain on intercompany loans(17,029)712 (24,624)5,350 
Benefit in connection with Ecommerce Restructuring
6,296 — 6,755 — 
Transaction and Strategic review costs
(1,266)(8,606)(3,156)(11,296)
Income (loss) from continuing operations before taxes
$39,271 $(7,854)$86,003 $39,750