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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
OPERATING ACTIVITIES:                
Net loss $ (6,270)     $ (116,902)   $ (66,857) $ (175,987)  
Adjustments to reconcile net loss to net cash used by operating activities:                
Depreciation and amortization           3,416 5,763  
Provision for sales returns           (215) 134  
Amortization of deferred financing cost and debt discounts           321 321  
Issuance of common stock           0 43  
Stock-based compensation           6,771 11,854  
Gain from decrease of contingent earn-out liability fair value 0     (774)   0 (5,240) $ 5,240
Change in inventory provisions           213 0  
Loss (gain) in connection with the change in warrant fair value (567)     (5,528)   (2,410) 2,365  
Gain in connection with settlement of note payable 0     0   0 (2,012)  
Loss on initial issuance of equity 0     12,834   0 18,669  
Impairment loss on goodwill 0   $ 500 90,921 $ 29,000 0 119,941 120,409 [1]
Impairment loss on intangibles 0 $ 16,700   3,118   39,445 3,118 3,118
Allowance for doubtful accounts and other           59 219  
Changes in assets and liabilities:                
Accounts receivable           1,186 5,326  
Inventory           11,960 2,588  
Prepaid and other current assets           1,942 3,351  
Accounts payable, accrued and other liabilities           (4,289) (9,994)  
Cash used in operating activities           (8,458) (19,541)  
INVESTING ACTIVITIES:                
Purchase of fixed assets           (80) (29)  
Purchase of Step and Go assets           (125) 0  
Cash used in investing activities           (205) (29)  
FINANCING ACTIVITIES:                
Proceeds from equity offering, net of issuance costs           0 27,007  
Repayments on note payable to Smash           (518) (2,868)  
Payment of Squatty Potty earn-out           0 (3,983) (3,983)
Borrowings from MidCap credit facilities           63,978 107,678  
Repayments for MidCap credit facilities           (71,165) (116,924)  
Insurance obligation payments           (788) (1,778)  
Insurance financing proceeds           986 2,099  
Cash provided (used) by financing activities           (7,507) 11,231  
Foreign currency effect on cash, cash equivalents, and restricted cash           42 (936)  
Net change in cash and restricted cash for the year           (16,128) (9,275)  
Cash and restricted cash at beginning of year   $ 46,629 29,040   $ 38,315 46,629 38,315 38,315
Cash and restricted cash at end of year 30,501   46,629 29,040   30,501 29,040 46,629
RECONCILIATION OF CASH AND RESTRICTED CASH:                
Cash 27,955     25,997   27,955 25,997  
Restricted Cash—Prepaid and other current assets 2,417     2,914   2,417 2,914  
Restricted cash—Other non-current assets 129     129   129 129  
TOTAL CASH AND RESTRICTED CASH $ 30,501   $ 46,629 $ 29,040   30,501 29,040 $ 46,629
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION                
Cash paid for interest           1,457 1,409  
Cash paid for taxes           90 58  
NON-CASH INVESTING AND FINANCING ACTIVITIES:                
Non-cash consideration paid to contractors           321 1,137  
Fair value of warrants issued in connection with equity offering           0 18,982  
Issuance of common stock related to exercise of warrants           0 767  
Issuance of common stock           0 43  
Exercise of prefunded warrants           $ 0 $ 15,039  
[1] The Company evaluated current economic conditions during 2022, including the impact of the Federal Reserve further increasing the risk-free interest rate, as well as the inflationary pressure on product and labor costs and operational impacts attributable to continued global supply chain disruptions. The Company believed that these conditions were factors in our market capitalization falling below the book value of net assets during the fiscal quarters ending March 31, 2022 and September 30, 2022. Accordingly, the Company concluded a triggering event had occurred in each of these periods and performed interim goodwill impairment analyses. As a result, the Company recorded a goodwill impairment charge of approximately $29.0 million and $90.9 during the three months ended March 31, 2022 and September 30, 2022, respectively. On October 4, 2022, the Company acquired Step and Go, a brand in the health and Wellness category, for $0.7 million. As part of the purchase price allocation of the acquisition, $0.5 million was attributed to goodwill. As our market capitalization was further reduced below net assets as of December 31, 2022, we concluded a triggering event has occurred to test goodwill, an impairment loss on goodwill of $0.5 million was recorded for the three months ended December 31, 2022, which is included in impairment loss on goodwill in the Consolidated Statement of Operations for the year-ended December 31, 2022.