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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net loss $ (18,270) $ (49,285)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance for credit losses 1 1,836
Inventory reserve adjustment 3,728 3,053
Depreciation and amortization 12,125 10,062
Amortization of debt issuance costs and premium (505) 674
Gain (loss) on disposal of assets 9 5
Share-based compensation 5,726 8,897
Warrants contra revenue 53 0
Unrealized foreign exchange (gain) (5,229) 322
Changes in operating assets and liabilities:    
Accounts receivable, trade (94,652) (11,425)
Trade notes receivable 0 (219)
Inventories, net (51,048) 5,579
Other current assets (1,472) 840
Operating right of use asset (11,204) 542
Accounts payable 27,993 626
Accrued liabilities 5,127 (1,151)
Unearned revenue 0 (233)
Lease liability 11,229 (593)
Net cash used in operating activities (116,389) (30,470)
Investing activities:    
Purchase of property, plant and equipment (53,868) (8,739)
Deposits and prepaid for equipment (21,181) (3,187)
Purchase of intangible assets (145) (230)
Net cash used in investing activities (75,194) (12,156)
Financing activities:    
Proceeds from line of credit borrowings 22,111 21,183
Repayments of line of credit borrowings (26,708) (21,980)
Proceeds from bank acceptance payable 55,517 15,112
Repayments of bank acceptance payable (42,820) (25,487)
Payments of tax withholding on behalf of employees related to share-based compensation (7,821) (2,670)
Payment on convertible notes (56) (214)
Proceeds from common stock offering, net 195,770 19,944
Cash settlement of Share-based compensation 0 (2,791)
Net cash provided by financing activities 195,993 3,097
Effect of exchange rate changes on cash 3,652 550
Net decrease in cash, cash equivalents and restricted cash 8,062 (38,979)
Cash, cash equivalents and restricted cash at beginning of period 79,133 55,097
Cash, cash equivalents and restricted cash at end of period 87,195 16,118
Supplemental disclosure of cash flow information:    
Interest, net of amounts capitalized 274 2,527
Non-cash investing and financing activities:    
Net change in accounts payable related to property and equipment additions 1,405 (730)
Net change in deposits and prepaid for equipment related to property and equipment additions (17,484) 304
Warrant issued and vested to customer $ 16,739 $ 0