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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (43,224) $ (78,991)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 4,944 13,968
Long-lived asset impairment 542 9,817
Deferred income taxes (1,693) (806)
Inventory reserve [1] 9,007 6,875
Gain from disposal of distribution center assets 0 (14,878)
Loss from sale of salon assets to franchisees, net 2,189 8,463
Goodwill impairment 16,000 0
Stock-based compensation 854 1,792
Amortization of debt discount and financing costs 1,379 1,313
Other non-cash items affecting earnings 419 183
Changes in operating assets and liabilities, excluding the effects of asset sales [2] (24,770) (27,743)
Net cash used in operating activities (34,353) (80,007)
Cash flows from investing activities:    
Capital expenditures (4,258) (9,609)
Proceeds from sale of assets to franchisees 0 7,743
Costs associated with sale of salon assets to franchisees 0 (242)
Proceeds from company-owned life insurance policies 0 1,200
Net cash used in investing activities (4,258) (908)
Cash flows from financing activities:    
Borrowings on revolving credit facility 10,000 0
Repayments of revolving credit facility (3,096) 0
Proceeds from issuance of common stock, net of offering costs 37,185 0
Taxes paid for shares withheld (844) (316)
Minority interest buyout 0 (562)
Distribution center lease payments 0 (724)
Net cash provided by (used in) financing activities 43,245 (1,602)
Effect of exchange rate changes on cash and cash equivalents (88) 6
Increase (decrease) in cash, cash equivalents, and restricted cash 4,546 (82,511)
Cash, cash equivalents and restricted cash:    
Beginning of period 29,152 122,880
End of period $ 33,698 $ 40,369
[1] Includes salon and distribution center reserves.
[2] Changes in operating assets and liabilities exclude assets and liabilities sold.