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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Cash flows from operating activities:            
Net Income $ 8,744 $ (913) $ 20,687 $ 7,831 $ 30,630 $ 94,202
Adjustments to reconcile net income to net cash provided by operating activities:            
Depreciation 1,528   1,063 2,875 2,073  
Amortization of intangible assets 1,221   1,243 2,442 2,486  
Amortization of operating lease right-of-use assets       3,649 2,562  
Non-cash interest expense       217 143  
Deferred interest expense       291 1,036  
Provision recorded for doubtful accounts 82   575 122 1,496  
Loss on disposal of property and equipment       196 239  
Adjustment for excess and obsolete inventories       5,228 4,678  
Stock-based compensation       2,995 1,740  
Change in fair value of Earnout liability         (3,058)  
Changes in operating assets and liabilities:            
Accounts receivable       (6,485) (21,460)  
Inventory       (3,441) (4,984)  
Prepaid expenses and other current assets       (1,839) (1,649)  
Operating leases       (3,472) (2,774)  
Accounts payable       2,671 716  
Accrued expenses and other current liabilities   (3,828)   (1,697) 2,646 9,354
Other liabilities       23 (340)  
Net cash provided by operating activities       11,606 16,180  
Cash flows from investing activities:            
Purchases of property and equipment       (12,840) (9,290)  
Net cash used in investing activities       (12,840) (9,290)  
Cash flows from financing activities:            
Payments of term loan       (938)    
Payments of withholding taxes in connection with RSUs vesting       (646) (737)  
Proceeds from the exercise of stock options       2,042 1,205  
Principal repayments of finance lease obligations       (200) (1,374)  
Payment of deferred acquisition consideration       (608) (483)  
Net cash provided by financing activities       (350) (1,389)  
Change in cash, cash equivalents, and restricted cash       (1,584) 5,501  
Cash, cash equivalents, and restricted cash, beginning of period   $ 114,528   114,528 84,806 84,806
Cash, cash equivalents, and restricted cash, end of period $ 112,944   $ 90,307 112,944 90,307 $ 114,528
Supplemental disclosure of cash flow information:            
Cash paid for interest       1,041 3,836  
Cash paid for income taxes       974 582  
Supplemental disclosure of non-cash investing and financing activities:            
Purchases of property and equipment included in accounts payable and accrued expenses       6,546 4,349  
Right-of-use assets obtained through operating lease obligations       364 $ 29,092  
Shares issued for deferred acquisition consideration       $ 828