XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (18,839) $ (2,411)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 6,566 3,678
Allowance for doubtful accounts 0 127
Provision for excess and obsolete inventories (446) 1,232
Stock-based compensation 4,465 1,715
Amortization of debt issuance costs 248 126
Change in fair value of earnout liabilities (1,040) 0
Deferred income taxes (707) 0
Loss on disposal of property and equipment 623 223
Other (638) 0
Changes in other assets and liabilities, net of acquisitions:    
Accounts receivable (6,825) (105)
Inventories (11,518) (4,561)
Other current assets 289 (1,323)
Accounts payable 1,537 3,483
Accrued expenses and other current liabilities 1,992 1,725
Income tax receivable/payable 454 (43)
Net cash (used in) provided by operating activities (23,839) 3,866
Cash flows from investing activities    
Purchases of property and equipment (29,204) (6,517)
Proceeds from sale of property and equipment 519 400
Purchases of intangible assets (783) (857)
Acquisition of Disior, net of cash received (18,504) (15,000)
Net cash used in investing activities (47,972) (21,974)
Cash flows from financing activities    
Proceeds from draw on term loan 20,000 0
Proceeds from issuance of long-term debt 16,000 24,846
Payments on long-term debt (178) (5,945)
Payments of debt issuance costs (405) (2,978)
Proceeds from issuance of common stock 0 1,000
Payments on treasury stock repurchased 0 (561)
Proceeds from exercise of stock options 300 351
Net cash provided by financing activities 35,717 16,713
Effect of exchange rate changes on cash (256) (62)
Net decrease in cash (36,350) (1,457)
Cash at beginning of period 109,352 17,501
Cash at end of period 73,002 16,044
Supplemental disclosures of cash flow information:    
Cash paid for taxes 386 374
Cash paid for interest 1,520 178
Purchase of property and equipment included in accounts payable 3,088 99
Series B convertible preferred stock dividend $ 0 $ 942