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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash provided by operating activities    
Net income $ 19,082 $ 7,115
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 307 365
Depreciation 975 952
Noncash lease expense 1,684 1,934
Stock-based compensation expense 153 26
Amortization of financing fees 165 244
Deferred income taxes 0 54
(Credit) for losses in accounts receivable (37) (499)
Increase in allowance for inventory obsolescence, net 206 946
Other adjustments, net 33 0
Changes in operating assets and liabilities:    
Accounts receivable (12,619) 18,187
Inventories (19,294) (4,798)
Prepaid expenses 33 (2,172)
Contract assets 4,077 (5,974)
Other assets 1,571 15
Accounts payable 7,014 5,345
Income taxes receivable 986 138
Accrued expenses 9,272 (3,528)
Other noncurrent liabilities (4,797) (2,720)
Net cash provided by operating activities 8,811 15,630
Cash used in investing activities    
Capital expenditures (3,403) (815)
Net cash used in investing activities (3,403) (815)
Cash used in financing activities    
Repayment of long-term debt and lease liabilities (98) (51)
Repayment of short-term financings (10,000) (5,000)
Payments of deferred financing costs 0 (130)
Repurchases to settle tax withholding obligations for stock-based compensation awards (142) 0
Net cash used in financing activities (10,240) (5,181)
Net (decrease) increase in cash, cash equivalents, and restricted cash (4,832) 9,634
Cash, cash equivalents, and restricted cash at beginning of the period 58,491 26,594
Cash, cash equivalents, and restricted cash at end of the period 53,659 36,228
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets    
Cash and cash equivalents 50,021 33,063
Restricted cash 3,638 3,165
Total cash, cash equivalents, and restricted cash $ 53,659 $ 36,228