Company: VRT
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001628280-25-019372
Chunk: 93

Company: Vertiv Holdings Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 2
Chunk 93
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2021, we have approximately doubled our manufacturing capacity for switchgear, busbar and integrated solutions by opening new facilities and adding production to existing facilities. Additionally, in 2024, in order to support our thermal management activity, we opened a new 

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manufacturing facility in Pune, India and a new facility in Pelzer, South Carolina to support the production of modular solutions, modular power systems and other infrastructure systems. We anticipate continuing to invest in capacity globally to provide the geographic presence that our customers need, and the ability to rapidly scale and to ensure resiliency. 

•Artificial Intelligence ("AI"): Increased maturity and adoption of AI and high-performance compute is currently impacting the data center industry and driving technology innovation, which has led to increased demand. The Company has invested in developing new product, services, and solutions to serve this growing industry, is increasing capacity to support additional demand for AI infrastructure as necessary and we will continue to invest to support additional growth driven by AI.

•Thermal Management Portfolio Expansion: We continue to invest in expansion of our thermal management portfolio and product capabilities to meet customer demands. The complexity of hybrid air and liquid cooling created by AI workloads presents significant opportunities for innovation within, and expansion of, the entire thermal chain to better optimize performance, power utilization, control, and heat re-use. Our investment and expansion efforts are directed at capturing new technologies across the entire thermal chain from chip to heat rejection and re-use and more to meet growing demands. Further, we are focused on the continued growth and expansion of our portfolio geographically, as we leverage our best-in-class regional products and expand such offerings into other regions and globally. 

RESULTS OF OPERATIONS 

Comparison of the Three Months Ended March 31, 2025 and Three Months Ended March 31, 2024

(Dollars in millions)Three months ended March 31, 2025Three months ended March 31, 2024$ Change% ChangeNet sales$2,036.0 $1,639.1 $396.9 24.2 %Cost of sales1,349.5 1,072.7 276.8 25.8 Gross profit686.5 566.4 120.1 21.2 Selling, general and administrative expenses346.3 314.0 32.3 10.3 Amortization of intangibles46.0 46.0 — — Restructuring costs1.