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Segment Information
 9 Months Ended
Sep. 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 with 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 September 30,Nine Months Ended September 30,
2025202420252024
SendTech Solutions$310,782 $331,376 $938,104 $1,017,470 
Presort Services148,893 166,367 476,900 483,032 
Total segment revenue459,675 497,743 1,415,004 1,500,502 
Other
— 1,720 — 9,975 
Total revenue$459,675 $499,463 $1,415,004 $1,510,477 


Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
SendTech Solutions
Revenue$310,782 $331,376 $938,104 $1,017,470 
Less:
Cost of revenue105,399 117,682 317,082 362,173 
Operating expenses
104,324 111,714 321,681 361,380 
Adjusted segment EBIT$101,059 $101,980 $299,341 $293,917 
Presort Services
Revenue$148,893 $166,367 $476,900 $483,032 
Less:
Cost of revenue
98,492 102,670 299,279 310,797 
Operating expenses
17,775 17,518 54,276 58,679 
Adjusted segment EBIT$32,626 $46,179 $123,345 $113,556 
Adjusted Segment EBIT
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
SendTech Solutions$101,059 $101,980 $299,341 $293,917 
Presort Services32,626 46,179 123,345 113,556 
Total adjusted segment EBIT133,685 148,159 422,686 407,473 
Reconciliation of adjusted segment EBIT to income or loss from continuing operations before taxes:
 
Other operations
— (7,312)— (12,142)
Interest expense, net(37,287)(43,859)(112,671)(131,986)
Corporate expenses
(26,350)(38,062)(93,369)(124,557)
Restructuring charges
(1,836)(30,694)(17,042)(64,859)
Loss on debt redemption/refinancing(82)(2,142)(24,446)(2,142)
Foreign currency gain (loss) on intercompany loans3,390 (18,831)(21,234)(13,481)
Benefit (charge) in connection with Ecommerce Restructuring
1,063 (38,145)7,818 (38,145)
Asset impairment
— (10,000)— (10,000)
Transaction and Strategic review costs(4,439)(2,994)(7,595)(14,291)
Income (loss) from continuing operations before taxes
$68,144 $(43,880)$154,147 $(4,130)