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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 14,473 $ 7,987
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 27  
Equity in loss of unconsolidated affiliate   446
Depreciation and amortization 643 584
Noncash lease expense 300 198
Amortization of land use rights 20 20
Deferred income taxes, net (410) (558)
Bad debt expense and other non-cash items 99 (53)
Accrued interest on certificates of deposit (486) (285)
Change in fair value of long-term receivable (117)  
Change in fair value of derivative liabilities 117  
Change in fair value of warrant liability (7,201)  
Loss on disposal of property and equipment 68  
Changes in operating assets and liabilities:    
Accounts and note receivables (3,277) 3,461
Inventories (1,385) 642
Prepaid and other assets (2,181) (655)
Income tax payable (2,766) 693
Accounts payable (83) 39
Other noncurrent liabilities 19 (823)
Due to related parties 114 526
Accrued expenses and other liabilities (2,171) 2,956
Operating lease liabilities 1,588 (228)
Net cash (used in) provided by operating activities (2,609) 14,950
Investing Activities    
Acquisition of intangible assets   (66)
Purchase of certificates of deposit (14,074) (11,548)
Purchase of property and equipment (1,687) (4,219)
Proceeds from sale of equipment 268 134
Net cash used in investing activities (15,493) (15,699)
Financing Activities    
Deferred financing costs (119)  
Proceeds from the exercise of stock options 933  
Net cash provided by financing activities 814  
Effect of exchange rate changes on cash and cash equivalents (124) (700)
Net decrease in cash and cash equivalents (17,412) (1,449)
Cash and cash equivalents at beginning of the period 33,509 25,175
Cash and cash equivalents at end of the period 16,097 23,726
Supplemental Disclosure of Non-Cash Financing and Investing Activities:    
Convertible preferred stock conversion 64,525  
Non-cash acquisition of property and equipment through prepaid conversion   455
Supplemental Disclosure of Cash Flow Information:    
Cash paid for income taxes $ 7,220 $ 4,003