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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net (loss) income $ (66,201) $ 3,284
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Stock-based compensation 1,104 1,639
Bad debt expense 76 9
Depreciation and amortization of property and equipment 6,346 5,195
Amortization of intangible assets 4,070 3,667
Amortization of debt discount 506 655
Non-cash operating lease (benefit) expense (217) 93
Gain on sale of property and equipment (2,950) 0
Deferred income taxes 16,375 (147)
Change in fair value of warrant liabilities 337 (856)
Impairment charges 0 538
Changes in operating assets and liabilities:    
Receivables (6,188) (3,424)
Inventories 141,705 (4,346)
Prepaid expenses and other (2,293) (2,712)
Income tax receivable/payable 744 1,239
Other assets (424) (390)
Accounts payable 1,920 3,744
Accrued expenses and other current liabilities 6,405 2,517
Total adjustments 167,516 7,421
Net cash provided by operating activities 101,315 10,705
Investing Activities    
Cash paid for acquisitions, net of cash received 0 (19,730)
Proceeds from sales of property and equipment 2,950 0
Purchases of property and equipment (12,917) (46,312)
Net cash used in investing activities (9,967) (66,042)
Financing Activities    
Net repayments under M&T bank floor plan (114,824) (44,293)
Principal (payments) borrowings on revolving line of credit (5,000) 45,000
Principal payments on long-term debt (111) (13,286)
Proceeds from issuance of long-term debt and finance liabilities 15,223 1,384
Loan issuance costs (2,812) (821)
Payment of dividends on Series A preferred stock 0 (2,393)
Repurchase of Treasury Stock 0 (109)
Proceeds from shares issued pursuant to the Employee Stock Purchase Plan 113 265
Proceeds from exercise of warrants 0 30,543
Proceeds from exercise of stock options 0 911
Disgorgement of short-swing profits 0 622
Net cash (used in) provided by financing activities (107,411) 17,823
Net decrease in cash (16,063) (37,514)
Cash, beginning of period 58,085 61,687
Cash, end of period 42,022 24,173
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 17,700 2,672
Cash paid during the period for income taxes net of refunds received 0 4
Cash paid for amounts included in the measurement of lease liability:    
Operating cash outflows from operating leases 3,635 3,194
Non-cash investing and financing activities:    
Dividends accrued on Series A Preferred Stock 4,015 2,381
Warrants issued to Coliseum Capital Partners, L.P. and Blackwell Partners, LLC 4,907 0
Decrease in PIPE warrant liability due to expiration of warrants $ 0 $ 50