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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 6,758,000 $ 5,928,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities    
Depreciation 1,895,000 973,000
Amortization of intangible assets 2,815,000 1,394,000
Stock-based compensation 4,024,000 2,258,000
Non-cash lease expense 1,047,000 300,000
Deferred income tax benefit (12,552,000) 0
Change in fair value of contingent consideration 1,226,000 (1,526,000)
Change in fair value of warrant liability 121,000 (5,472,000)
Loss on disposal of assets held for rent, net 102,000 0
Other 175,000 0
Change in operating assets and liabilities, net of effects of acquisitions    
Accounts receivable, trade, net (8,494,000) 924,000
Inventories 1,283,000 82,000
Prepaid expenses and other current assets 2,370,000 256,000
Accounts payable (2,790,000) 63,000
Accrued expenses and other current liabilities (3,882,000) 177,000
Other 0 (467,000)
Net cash (used in) provided by operating activities (5,902,000) 4,890,000
Cash flows from investing activities    
Cash acquired in acquisition of Global Cooling, Inc. 43,000 0
Purchases of property and equipment (4,407,000) (251,000)
Purchases of assets held for lease (4,280,000) (1,432,000)
Proceeds from sale of equipment 1,000 0
Net cash used in investing activities (8,643,000) (1,683,000)
Cash flows from financing activities    
Payments of contingent consideration 0 (483,000)
Proceeds from sale of common stock, net of $6.2 million of costs in 2020 0 19,914,000
Proceeds from line of credit 11,800,000 0
Payments on line of credit (12,738,000) 0
Proceeds from exercise of common stock options 608,000 783,000
Proceeds from exercise of warrants 0 24,000
Other (380,000) (14,000)
Net cash provided by financing activities 385,000 20,224,000
Net (decrease) increase in cash, cash equivalents, and restricted cash (14,160,000) 23,431,000
Cash, cash equivalents, and restricted cash – beginning of period 90,456,000 6,448,000
Effects of currency translation on cash, cash equivalents, and restricted cash 3,000 0
Cash, cash equivalents, and restricted cash – end of period 76,299,000 29,879,000
Non-cash investing and financing activities    
Cashless exercise of warrants reclassified from warrant liability to common stock 2,901,000 33,111,000
Equipment acquired under operating leases 6,971,000 0
Equipment acquired under finance leases 440,000 0
Reclassification of warrant liabilities to equity upon exercise 0 57,000
Purchase of property and equipment not yet paid 0 29,000
Purchase of equipment with debt 0 133,000
Deferred financing costs not yet paid 0 55,000
Bonus Consideration [Member]    
Non-cash investing and financing activities    
Stock issued as bonus consideration 0 314,000
GCI Acquisition [Member]    
Non-cash investing and financing activities    
Stock issued as consideration to acquire Global Cooling, Inc. 232,741,000 0
Paycheck Protection Program CARES Act [Member]    
Cash flows from financing activities    
Proceeds from Loan 0 2,175,000
Payoff of PPP Loan 0 (2,175,000)
Equipment Loans [Member]    
Cash flows from financing activities    
Proceeds from Loan 1,282,000 0
Financed Insurance Premium [Member]    
Cash flows from financing activities    
Payments on financed insurance premium $ (187,000) $ 0