| Schedule of Discontinued Operations |
The components of income (loss) from discontinued operations, net of tax for the three and nine months ended September 30, 2025 and 2024, consist of the following (in thousands):
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For the three months ended September 30, |
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For the nine months ended September 30, |
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2025 |
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2024 |
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2025 |
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2024 |
| Revenues |
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$ |
— |
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$ |
69,970 |
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$ |
75,358 |
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$ |
248,526 |
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Costs and operating expenses |
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— |
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66,341 |
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|
71,865 |
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241,194 |
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| Income from discontinued operations |
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— |
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3,629 |
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3,493 |
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7,332 |
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| Other impairment |
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— |
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— |
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33,708 |
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4,204 |
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| (Gain) loss on the sale of discontinued operations |
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(157) |
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— |
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13,338 |
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12,663 |
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| Total income (loss) before income taxes |
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157 |
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3,629 |
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(43,553) |
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(9,535) |
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| (Benefit) provision for income taxes |
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(164) |
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721 |
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(10,492) |
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(2,801) |
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| Income (loss) from discontinued operations, net of tax |
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$ |
321 |
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$ |
2,908 |
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$ |
(33,061) |
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$ |
(6,734) |
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The assets and liabilities reported as held-for-sale consist of the following (in thousands):
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December 31, |
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2024 |
| Assets |
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Cash and cash equivalents |
$ |
(475) |
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Receivables, net |
39,459 |
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Inventories |
142,259 |
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Prepaid expenses and other current assets |
11,057 |
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Property and equipment, net |
14,546 |
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Intangible assets, net |
124 |
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Goodwill |
63,190 |
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Operating lease right-of-use assets |
10,101 |
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Other assets |
2,559 |
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Total assets held-for-sale |
$ |
282,820 |
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| Liabilities |
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Accounts payable |
$ |
42,099 |
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Accrued expenses and other current liabilities |
9,446 |
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Long-term operating lease obligations |
8,645 |
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Deferred tax liabilities |
8,010 |
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Total liabilities held-for-sale |
$ |
68,200 |
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Selected financial information related to cash flows from discontinued operations is as follows (in thousands):
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For the nine months ended September 30, |
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2025 |
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2024 |
| Depreciation and amortization |
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$ |
731 |
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$ |
2,229 |
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Stock-based compensation (a)
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$ |
(225) |
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$ |
586 |
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| Purchases of property and equipment |
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$ |
208 |
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$ |
2,040 |
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(a) Stock-based compensation benefit was recognized during the nine months ended September 30, 2025 due to forfeitures in the period. |
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