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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities    
Net (loss) income $ (276) $ 28,284
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Stock based compensation 797 523
Bad debt expense 7 11
Depreciation of property and equipment 2,570 2,277
Amortization of intangible assets 1,833 1,807
Amortization of debt discount 91 108
Non-cash lease expense 22 36
Loss on sale of property and equipment 0 6
Change in fair value of warrant liabilities (856) (1,540)
Tax benefit related to stock-based awards 0 (74)
Impairment charges 538 0
Changes in operating assets and liabilities (net of acquisitions and dispositions):    
Receivables (3,359) (20,838)
Inventories (33,650) (41,412)
Prepaid expenses and other (2,766) 113
Income tax receivable/payable (146) 9,051
Other assets (603) 76
Accounts payable 2,642 3,578
Accrued expenses and other current liabilities 4,324 561
Total Adjustments (28,556) (45,717)
Net Cash Used In Operating Activities (28,832) (17,433)
Cash Flows From Investing Activities    
Cash paid for acquisitions (19,730) 0
Proceeds from sales of property and equipment 22 15
Purchases of property and equipment (13,936) (7,911)
Net Cash Used In Investing Activities (33,644) (7,896)
Cash Flows From Financing Activities    
Net borrowings (repayments) under M&T bank floor plan (6,495) 38,066
Borrowings under revolving line of credit 30,000 0
Repayment of long term debt with M&T bank (12,067) (1,790)
Proceeds from financing liability 1,384 254
Repayments of financing liability (680) (472)
Payment of dividends on Series A preferred stock (1,184) (1,210)
Repurchase of Treasury Stock (109) (19,175)
Proceeds from exercise of warrants 30,543 0
Proceeds from exercise of stock options 645 1,353
Disgorgement of short-swing profits 622 0
Repayments of acquisition notes payable 0 (259)
Loan issuance costs (821) 0
Net Cash Provided By Financing Activities 41,838 16,767
Net Decrease In Cash (20,638) (8,562)
Cash - Beginning 61,687 98,120
Cash - Ending 41,049 89,558
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 5,144 2,633
Cash paid during the period for income taxes net of refunds received 2 0
Non-Cash Investing and Financing Activities    
Accrued dividends on Series A Preferred Stock 1,184 1,184
Right-of use assets obtained in exchange for lease liabilities:    
Operating leases 142 0
Decrease in PIPE warrant liability due to expiration of warrants $ 50 $ 0