XML 15 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (375,108) $ (29,175) $ (1,638)
Adjustments to reconcile net loss to net cash from operating      
Depreciation of property and equipment 4,486 2,552 1,375
Provision for doubtful accounts 854 1,442 659
Amortization of right-of-use assets 3,352    
Amortization of intangible assets 13,297 11,849 12,506
Amortization of other assets 147 132 63
Amortization of deferred financing costs 4,061 1,515 1,365
Stock-based compensation 12,418 363 103
Amortization of unfavorable lease terms   (36) (144)
Write-off of unfavorable lease   (384)  
(Gain) Loss on sale and disposal of assets   110  
In-kind interest 4,130 6,119  
Deferred income tax benefit (3,763) (4,341) (4,649)
Change in fair value of earn-out shares liability 47,100 0 0
Change in fair value adjustment of warrant liabilities 277,315 0 0
Debt prepayment expense 2,014    
Changes in operating assets and liabilities:      
Accounts receivable (31,013) 3,701 (11,048)
Prepaid expense and other current assets (5,434) 489 (1,116)
Income taxes receivable 35 (4,611)  
Inventory (9,443) (3,211) (4,769)
Other assets (6,129) (2,286) (692)
Accounts payable 10,523 4,889 4,311
Accrued payroll and other expenses 24,784 (118) 2,765
Other long-term liabilities   1,529 119
Lease liabilities (1,393)    
Income taxes payable (594) (2,964) 2,518
Net cash (used in) provided by operating activities (28,361) (12,436) 1,728
Cash flows used in investing activities:      
Cash paid for business acquisitions, net of cash acquired (22,896)   (2,058)
Repayment of notes receivables from shareholders 781    
Capital expenditures for intangible assets (4,415) (316) (1,648)
Capital expenditures for property and equipment (11,201) (3,501) (8,774)
Net cash used in investing activities (37,731) (3,817) (12,480)
Cash flows from financing activities:      
Proceeds from issuance of convertible senior notes 750,000    
Purchase of capped calls related to convertible senior notes (90,150)    
Repurchase of shares   (154)  
Proceeds from exercise of warrants 188,378    
Proceeds from revolving facility 5,000 6,500 18,500
Repayment of revolving facility (5,000) (15,000) (12,000)
Proceeds from term loan   30,000 10,000
Payment of debt issuance costs (21,341) (77) (150)
Repayment of term loan (225,486) (1,772)  
Deferred payment for acquisition   (901)  
Proceeds from Business Combination, net of transaction costs (See Note 3) 357,634   (1,772)
Payments for transaction costs   (323)  
Net cash provided by financing activities 959,035 18,273 14,578
Net increase in cash and cash equivalents 892,943 2,020 3,826
Effect of foreign currency translation on cash (543) 159 (94)
Cash and cash equivalents, beginning of period 9,486 7,307 3,575
Cash and cash equivalents, end of period 901,886 9,486 7,307
Supplemental disclosures of cash flow information and non-cash investing and financing activities:      
Cash paid for interest 10,249 13,536 15,727
Cash paid for income taxes 1,700 2,434 861
Issuance of earn-out shares 136,575    
Trade receivables due from seller 6,623    
Notes payable to seller 2,153    
Contingent consideration 783    
Issuance of Class A Common Stock in connection with business acquisitions 9,341    
Capital expenditures included in accounts payable $ 321 240 1,006
Deferred payment due to seller related business acquisition     $ 927
Deferred unpaid offering costs   $ 2,036