XML 34 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net loss $ (47,841) $ (67,326) $ (13,693)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 15,542 13,728 8,961
Allowance for doubtful accounts 614 155 1,022
Excess and obsolete inventories (352) 485 2,821
Loss on early extinguishment of debt 1,881    
Stock-based compensation 12,364 10,365 4,948
Change in fair value (791) 1,280 440
Other 984 704 1,014
Changes in other assets and liabilities, net of acquisitions:      
Accounts receivable (161) (12,013) (6,461)
Inventories (36,595) (21,512) (11,098)
Accounts payable 6,742 1,895 3,431
Accrued expenses 6,428 2,317 7,095
Accrued legal settlement (22,000) 22,000  
Income tax receivable/payable (50) 391 671
Other assets and liabilities (655) (1,650) (2,468)
Net cash used in operating activities (63,890) (49,181) (3,317)
Cash flows from investing activities      
Purchase of office building   (18,300)  
Purchases of property and equipment (26,716) (22,813) (18,296)
Proceeds from sale of property and equipment 1,043 897 799
Purchases of intangible assets (1,314) (1,973) (2,993)
Acquisitions, net of cash received   (18,504) (15,000)
Net cash used in investing activities (26,987) (60,693) (35,490)
Cash flows from financing activities      
Proceeds from draw on term loan   20,000  
Proceeds from issuance of long-term debt 100,000 16,000 10,000
Payments on long-term debt (30,727) (570) (6,034)
Payments of debt issuance costs (4,423) (732) (3,139)
Proceeds from issuance of common stock, net of issuance costs 68,453   1,001
Proceeds from IPO, net of issuance costs     129,384
Payments on treasury stock repurchased     (561)
Proceeds from exercise of stock options 2,406 5,271 445
Proceeds from employee stock purchase plan 944 518  
Payments on earnout liability (8,000) (1,000)  
Net cash provided by financing activities 128,653 39,487 131,096
Effect of exchange rate changes on cash (605) (497) (438)
Net increase (decrease) in cash 37,171 (70,884) 91,851
Cash at beginning of period 38,468 109,352 17,501
Cash at end of period 75,639 38,468 109,352
Supplemental disclosures of cash flow information:      
Restricted cash (Note 7) 1,000    
Cash paid for income taxes 908 1,103 678
Cash paid for interest 4,271 3,073 1,086
Purchase of property and equipment included in accounts payable $ 3,402 $ 3,402 $ 881