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Consolidated condensed statements of cash flows - USD ($)
$ in Thousands
9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Operating activities:    
Net (loss) income $ (168,518) $ 11,479
Adjustments to reconcile net (loss) income to net cash from operating activities:    
Depreciation and amortization 43,643 23,185
Provision (recovery) for expected credit losses 3,874 (138)
Equity-based compensation from 2021 Stock Incentive Plan 14,153 13,735
Profits interest plan, liability-classified and other equity awards compensation 0 (24,356)
Change in fair value of contingent consideration 3,684 1,292
Change in fair value of interest rate swap (6,418) (1,391)
Deferred income taxes (47,154) (1,703)
Change in fair value of Equity Participation Rights 0 (2,774)
Impairment of goodwill 189,197 0
Impairments related to variable interest entity 0 7,043
Revaluation gain on previously held equity interest in CartiHeal (23,709) 0
Unrealized loss on foreign currency fluctuations 2,926 1,224
Other, net 166 407
Changes in operating assets and liabilities:    
Accounts receivable (12,840) (13,149)
Inventories (8,621) 1,496
Accounts payable and accrued expenses (10,947) 7,247
Other current and noncurrent assets and liabilities 1,783 (13,723)
Net cash from operating activities (18,781) 9,874
Investing activities:    
Acquisition of CartiHeal, net of cash acquired (104,841) 0
Acquisition of Bioness, net of cash acquired 0 (46,790)
Purchase of property and equipment (6,639) (4,568)
Investments and acquisition of distribution rights (1,478) (11,124)
Other (75) 0
Net cash from investing activities (113,033) (62,482)
Financing activities:    
Proceeds from issuance of Class A common stock sold in initial public offering, net of underwriting discounts and offering costs 0 107,777
Proceeds from issuance of Class A and B common stock 4,739 747
Tax withholdings on equity-based compensation (3,352) 0
Borrowing on revolver 25,000 0
Payment on revolver (25,000) 0
Proceeds from the issuance of long-term debt, net of issuance costs 79,659 0
Payments on long-term debt (13,528) (11,250)
Distributions to members 0 (183)
Other, net (4) (28)
Net cash from financing activities 67,514 97,063
Effect of exchange rate changes on cash (531) (377)
Net change in cash, cash equivalents and restricted cash (64,831) 44,078
Cash, cash equivalents and restricted cash at the beginning of the period 99,213 86,839
Cash, cash equivalents and restricted cash at the end of the period 34,382 130,917
Supplemental disclosure of noncash investing and financing activities    
Accrued member distributions 0 123
Accounts payable for purchase of property, plant and equipment $ 1,270 $ 612