SEGMENT INFORMATION (Tables)

Information related to net sales, Segment Adjusted EBITDA, depreciation and amortization, purchases of property and equipment, purchases of intangible assets, and segment assets are summarized below (in thousands):


	Year Ended December 31, 2025
	Fire Safety		Specialty Products		Total
Net sales:
Product	$	380,840	$	163,609	$	544,449
Services and others	108,101		312		108,413
Total net sales	488,941		163,921		652,862

Less:
Adjusted cost of goods sold	160,177		103,920		264,097
Adjusted selling, general and administrative expense	38,277		18,798		57,075
Segment Adjusted EBITDA	$	290,487	$	41,203	$	331,690
Less:
Depreciation and amortization					74,032
Interest and financing expense					39,135
Founders advisory fees - related party					435,163

Non-recurring expenses					2,420
Acquisition costs					3,578
Stock-based compensation expense					16,647

Foreign currency gain					(3,038)
Loss before income taxes					$	(236,247)


Depreciation and amortization	$	55,397	$	18,635	$	74,032
Purchases of property and equipment	$	18,412	$	11,179	$	29,591
Purchase of intangible assets	$	15,226	$	—	$	15,226
Segment assets	$	191,016	$	148,192	$	339,208



	Year Ended December 31, 2024
	Fire Safety		Specialty Products		Total
Net sales:
Product	$	340,112	$	124,694	$	464,806
Services and others	96,162		—		96,162
Total net sales	436,274		124,694		560,968

Less:
Adjusted cost of goods sold	160,157		72,705		232,862
Adjusted selling, general and administrative expense	35,996		11,816		47,812
Segment Adjusted EBITDA	$	240,121	$	40,173	$	280,294
Less:
Depreciation and amortization					65,718
Interest and financing expense					40,461
Founders advisory fees - related party					198,308

Non-recurring expenses					6,766
Acquisition costs					612
Stock-based compensation expense					12,849

Foreign currency loss					2,443
Loss before income taxes					$	(46,863)


Depreciation and amortization	$	51,365	$	14,353	$	65,718
Purchases of property and equipment	$	9,449	$	6,082	$	15,531
Segment assets	$	83,677	$	189,912	$	273,589



	Year Ended December 31, 2023
	Fire Safety		Specialty Products		Total
Net sales:
Product	$	194,166	$	96,554	$	290,720
Services and others	31,388		—		31,388
Total net sales	225,554		96,554		322,108

Less:
Adjusted cost of goods sold	117,242		66,711		183,953
Adjusted selling, general and administrative expense	32,098		9,270		41,368
Segment Adjusted EBITDA	$	76,214	$	20,573	$	96,787
Less:
Depreciation and amortization					64,855
Interest and financing expense					41,378
Founders advisory fees - related party					(108,481)
Intangible impairment					40,738
Non-recurring expenses					4,046
Stock-based compensation expense					1,596
Gain on contingent earn-out					(7,273)
Foreign currency gain					(1,655)
Income before income taxes					$	61,583


Depreciation and amortization	$	51,178	$	13,677	$	64,855
Purchases of property and equipment	$	4,287	$	5,148	$	9,435
Segment assets	$	93,200	$	191,946	$	285,146

Total segment assets reconciled to consolidated amounts are as follows (in thousands):


	December 31, 2025		December 31, 2024
Total segment assets	$	339,208	$	273,589
Cash and cash equivalents	325,927		198,456
Goodwill	1,065,211		1,034,543
Customer lists, net	628,189		637,745
Technology and patents, net	184,804		173,307
Tradenames, net	86,330		87,365
Tax assets	23,338		11,389
Total consolidated assets	$	2,653,007	$	2,416,394

Net sales by geographical area are as follows:


	Year Ended December 31,
	2025		2024		2023
United States	76	%	79	%	65	%
Canada	7		6		14
Other international sales (1)	17		15		21
Total net sales	100	%	100	%	100	%

Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows:


			Years
Buildings			30–40 Years
Furniture and fixtures			1–8 Years
Machinery and equipment			1–26 Years
Vehicles			1–8 Years
Leasehold improvements			Shorter of remaining lease term or estimated useful life

Property, plant and equipment, net by geographical area consisted of the following (in thousands):


	December 31, 2025		December 31, 2024
United States	$	65,565	$	46,580

Germany	13,392		12,643
Other foreign jurisdictions	6,181		5,554
Total property, plant and equipment, net	$	85,138	$	64,777