Quarterly report [Sections 13 or 15(d)]

SEGMENT AND GEOGRAPHIC INFORMATION

v3.25.1
SEGMENT AND GEOGRAPHIC INFORMATION
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION SEGMENT AND GEOGRAPHIC INFORMATION
The Company operates under one reportable segment which contains our residential, commercial, and termite service offerings. The Company's chief operating decision maker ("CODM") is the chief executive officer. The CODM uses net income to assess financial performance and allocate resources. This financial metric is used by the CODM to make key
operating decisions, such as the determination of the rate of growth investments and the allocation of budget between cost categories. The measure of segment assets is reported on the balance sheet as total consolidated assets.
The following table presents selected financial information with respect to the Company’s single reportable segment:


Three Months Ended March 31,
(in thousands) 2025 2024
Revenue $ 822,504  $ 748,349 
Less:
Cost of services provided (exclusive of depreciation and amortization below):
Employee expenses 261,724  238,529 
Materials and supplies 48,491  44,786 
Insurance and claims 16,524  17,644 
Fleet expenses 36,857  30,697 
Other cost of services provided (1)
36,538  33,902 
Total cost of services provided (exclusive of depreciation and amortization below) $ 400,134  $ 365,558 
Sales, general and administrative:
Selling and marketing expenses 98,250  82,911 
Administrative employee expenses 81,481  75,778 
Insurance and claims 10,004  10,526 
Fleet expenses 9,403  7,765 
Other sales, general and administrative (2)
51,375  46,077 
Total sales, general and administrative $ 250,513  $ 223,057 
Depreciation and amortization 29,209  27,310 
Interest expense, net 5,796  7,725 
Other income, net (692) 61 
Income tax expense 32,296  30,244 
Net income $ 105,248  $ 94,394 

1) Other cost of services provided includes facilities costs, professional services, maintenance and repairs, software license costs, and other expenses directly related to providing services.
2) Other sales, general and administrative includes facilities costs, professional services, maintenance and repairs, software license costs, bad debt expense, and other administrative expenses.

See the consolidated financial statements for other financial information regarding the Company’s reportable segment. See Note 4, Revenue for further information on revenue.

The Company's long-lived tangible assets, as well as the Company's operating lease right-of-use assets recognized in the condensed consolidated statements of financial position were located as follows:

March 31,
2025		 December 31,
2024
(in thousands)
United States $ 509,937  $ 503,767 
International 36,500  35,546