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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (2,582) $ (43,224)
Adjustments to reconcile net loss to cash used in operating activities:    
Gain from sale of OSP (Note 3) (4,552) 0
Depreciation and amortization 5,502 4,944
Long-lived asset impairment 36 542
Deferred income taxes (49) (1,693)
Inventory reserve 1,228 9,007
Paid-in-kind interest 51 0
Loss from sale of salon assets to franchisees, net 0 2,189
Goodwill impairment 0 16,000
Stock-based compensation 1,668 854
Amortization of debt discount and financing costs 2,144 1,379
Other non-cash items affecting earnings 365 419
Changes in operating assets and liabilities, excluding the effects of asset sales [1] (12,276) (24,770)
Net cash used in operating activities (8,465) (34,353)
Cash flows from investing activities:    
Capital expenditures (339) (4,258)
Proceeds from sale of OSP, net of fees 4,500 0
Net cash provided by (used in) investing activities 4,161 (4,258)
Cash flows from financing activities:    
Borrowings on credit facility 11,357 10,000
Repayments of long-term debt (9,491) (3,096)
Debt refinancing fees (4,383) 0
Proceeds from issuance of common stock, net of offering costs 0 37,185
Taxes paid for shares withheld (35) (844)
Net cash (used in) provided by financing activities (2,552) 43,245
Effect of exchange rate changes on cash and cash equivalents (103) (88)
(Decrease) increase in cash, cash equivalents, and restricted cash (6,959) 4,546
Cash, cash equivalents and restricted cash:    
Beginning of period 27,464 29,152
End of period $ 20,505 $ 33,698
[1] Changes in operating assets and liabilities exclude assets and liabilities sold.