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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net (loss) income $ (13,693) $ 3,498 $ 3,117
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 8,961 6,384 4,202
Allowance for doubtful accounts 1,022 636 300
Provision for excess and obsolete inventories 2,821 7,467 1,712
Stock-based compensation 4,948 1,808 1,754
Amortization of debt issuance costs 576 134 85
Change in fair value of earnout liabilities 440    
Deferred income taxes 170 1,307 (1,115)
Loss on disposal of property and equipment 237 554 545
Other 31 113 (26)
Changes in other assets and liabilities, net of acquisitions:      
Accounts receivable (6,461) 386 (5,221)
Inventories (11,098) (14,831) (3,560)
Other current assets (2,468) 944 (618)
Accounts payable 3,431 (6,238) 8,430
Accrued expenses and other current liabilities 7,095 (815) 3,098
Income tax receivable/payable 671 (236) (405)
Net cash (used in) provided by operating activities (3,317) 1,111 12,298
Cash flows from investing activities      
Purchases of property and equipment (18,296) (9,653) (17,261)
Proceeds from sale of property and equipment 799 522 580
Purchases of intangible assets (2,993) (1,187) (773)
Acquisition of Additive Orthopaedics (15,000)    
Net cash used in investing activities (35,490) (10,318) (17,454)
Cash flows from financing activities      
Proceeds from issuance of note payable - related party     3,000
Payments on note payable - related party   (3,000)  
Proceeds from revolving credit facility     780
Payments on revolving credit facility   (9,821)  
Proceeds from issuance of long-term debt 10,000 458 8,885
Payments on long-term debt (6,034) (1,686) (2,200)
Payments of debt issuance costs (3,139) (53) (150)
Proceeds from issuance of common stock 1,001 1,842  
Proceeds from IPO, net of issuance costs 129,384    
Proceeds from issuance of Series B capital stock, net of issuance costs   36,030  
Payments on treasury stock repurchased (561) (1,538) (3,885)
Proceeds from exercise of stock options 445 1,780 115
Net cash provided by financing activities 131,096 24,012 6,545
Effect of exchange rate changes on cash (438) 86 29
Net increase in cash 91,851 14,891 1,418
Cash at beginning of period 17,501 2,610 1,192
Cash at end of period 109,352 17,501 2,610
Supplemental disclosures of cash flow information:      
Cash paid for taxes 678 453 97
Cash paid for interest 1,086 395 550
Purchase of property and equipment included in accounts payable $ 881 120 $ 115
Series B convertible preferred stock dividend   $ 812