Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION (Tables)

v3.23.3
SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Schedule of Segment Information
Information related to net sales and Adjusted EBITDA for the Company’s operations are summarized below (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Net sales:
Fire safety $ 118,280  $ 121,963  $ 190,164  $ 207,010 
Specialty products 24,378  38,546  72,489  112,222 
Total $ 142,658  $ 160,509  $ 262,653  $ 319,232 
Adjusted EBITDA:
Fire safety $ 56,038  $ 60,363  $ 69,209  $ 81,248 
Specialty products 5,431  15,264  16,366  42,038 
Total segment Adjusted EBITDA 61,469  75,627  85,575  123,286 
Less:
Depreciation and amortization 16,276  16,450  48,493  49,536 
Interest and financing expense 10,448  9,944  30,938  32,582 
Founders advisory fees - related party (24,544) (73,713) (108,806) (154,026)
Intangible impairment 40,738  —  40,738  — 
Non-recurring expenses 22  1,168  1,942  4,788 
Share-based compensation expense 1,749  (845) (130) 7,551 
Non-cash purchase accounting impact —  658  —  24,796 
Gain on contingent earn-out (7,665) (3,644) (7,273) (13,042)
Unrealized foreign currency loss 1,384  4,705  756  8,741 
Income before income taxes $ 23,061  $ 120,904  $ 78,917  $ 162,360