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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:      
Net loss $ (7,385) $ (85,857) $ (113,331)
Adjustments to reconcile net loss to net cash used in operating activities:      
(Gain ) loss from sale of OSP (4,562) 36,143 0
Depreciation and amortization 7,189 6,504 17,871
Long-lived asset impairment 101 542 13,023
Deferred income taxes (8) 391 (3,388)
Inventory reserve 1,228 10,478 12,068
Non-cash interest 3,790 0 0
Gain from disposal of distribution center assets 0 0 (14,997)
Loss from sale of salon assets to franchisees, net 0 2,334 16,696
Goodwill impairment 0 16,000 0
Stock-based compensation 2,316 1,334 3,254
Amortization of debt discount and financing costs 2,891 1,839 1,839
Other non-cash items affecting earnings 155 709 (351)
Changes in operating assets and liabilities:      
Receivables [1] 943 11,896 (279)
Inventories [1] (182) 7,886 17,879
Income tax receivable [1] (577) 1,118 1,295
Other current assets [1] 850 2,118 1,658
Other assets [1] 6,818 2,703 (2,896)
Accounts payable [1] (497) (10,966) (21,669)
Accrued expenses [1] (6,151) (21,983) 5,296
Net lease liabilities [1] (4,991) (5,960) (19,248)
Other non-current liabilities [1] (9,817) (15,867) (14,603)
Net cash used in operating activities: (7,889) (38,638) (99,883)
Cash flows from investing activities:      
Capital expenditures (481) (5,316) (11,475)
Net proceeds from sale of OSP 4,500 13,000 0
Proceeds from sale of assets to franchisees 0 0 8,437
Costs associated with sale of assets to franchisees 0 0 (261)
Proceeds from company-owned life insurance policies 0 0 1,200
Net cash provided by (used in) investing activities: 4,019 7,684 (2,099)
Cash flows from financing activities:      
Borrowings on credit facility 13,357 10,000 10,000
Repayments of long-term debt (11,083) (16,916) (589)
Proceeds from issuance of common stock, net of offering costs 0 37,185 0
Debt refinancing fees (4,383) 0 0
Taxes paid for shares withheld (36) (845) (348)
Minority interest buyout 0 0 (562)
Distribution center lease payments 0 0 (724)
Net cash (used in) provided by financing activities: (2,145) 29,424 7,777
Effect of exchange rate changes on cash and cash equivalents (53) (158) 477
Decrease in cash, cash equivalents and restricted cash (6,068) (1,688) (93,728)
Cash, cash equivalents and restricted cash:      
Beginning of year 27,464 29,152 122,880
End of year $ 21,396 $ 27,464 $ 29,152
[1] Changes in operating assets and liabilities exclude assets and liabilities sold or acquired.