Segments (Tables)

9 Months Ended

Jun. 30, 2022

Summary of Residential and Commercial Segment Reporting Information

The segment data below includes data for Residential and Commercial for the three and nine months ended June 30, 2022 and 2021 (in thousands).

	Three Months Ended June 30,						Nine Months Ended June 30,
	2022			2021			2022			2021
Net sales to customers
Residential	$	343,064		$	291,209		$	914,555		$	739,048
Commercial		51,927			36,245			136,399			93,806
Total	$	394,991		$	327,454		$	1,050,954		$	832,854
Adjusted EBITDA
Residential	$	91,093		$	82,525		$	258,874		$	222,999
Commercial		12,271			6,273			25,693			13,304
Total Adjusted EBITDA for reporting segments	$	103,364		$	88,798		$	284,567		$	236,303
Unallocated net expenses		(16,839	)		(16,082	)		(48,603	)		(43,623	)
Adjustments to Income before income tax provision
Depreciation and amortization		(29,606	)		(25,771	)		(86,730	)		(75,321	)
Stock-based compensation costs		(4,903	)		(9,510	)		(13,846	)		(19,646	)
Acquisition costs (1)		(3,228	)		—			(8,861	)		—
Initial public offering costs and secondary offering costs		-			(1,443	)		—			(2,592	)
Other costs (2)		(1,138	)		(1,358	)		(1,799	)		(4,411	)
Interest expense, net		(10,618	)		(4,054	)		(18,776	)		(16,428	)
Income before income tax provision	$	37,032		$	30,580		$	105,952		$	74,282

(1)

Acquisition costs reflect costs directly related to completed acquisitions of $3.2 million and $7.7 million in the three and nine months ended June 30, 2022, respectively, and inventory step-up adjustments related to recording inventory of acquired businesses at fair value on the date of acquisition of $1.2 million for the nine months ended June 30, 2022.

(2)

Other costs include costs for legal expense of $0.2 million and $0.8 million in the three months ended June 30, 2022 and 2021, respectively, costs related to reduction in workforce of $0.8 million in the three months ended June 30, 2022, costs related to an incentive plan and other ancillary expenses associated with the initial public offering of $0.4 million for the three months ended June 30, 2021, other costs of $0.1 million for the three months ended June 30, 2022, and the impact of retroactive adoption of ASC 842 of $0.2 million for the three months ended June 30, 2021. Other costs include costs for legal expense of $0.6 million and $1.8 million in the nine months ended June 30, 2022 and 2021, respectively, costs related to reduction in workforce of $0.8 million in the nine months ended June 30, 2022, costs related to an incentive plan and other ancillary expenses associated with the initial public offering of $0.1 million and $2.1 million in the nine months ended June 30, 2022 and 2021, respectively, other costs of $0.3 million for the nine months ended June 30, 2022, and the impact of retroactive adoption of ASC 842 of $0.5 million for the nine months ended June 30, 2021.