XML 17 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net loss $ (202,066) $ (52,915)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 25,357 9,723
Deferred loan cost amortization 1,666 475
Equity-based compensation 27,217 8,262
Loss on extinguishment of debt 13,594 17,693
Paid in kind interest expense 1,771 0
Lease abandonment and impairment of long-lived assets 25,915 0
Changes in ROU asset 4,070 0
Other non-cash operating activities 0 1,783
Changes in operating assets and liabilities:    
Accounts receivable 33,887 (100,937)
Inventories (10,140) (4,968)
Prepaid and other current assets (4,009) (5,772)
Accounts payable (6,001) 15,436
Accrued liabilities (13,184) 28,461
Due to related parties 0 (16,862)
Deferred revenue 16,084 1,729
Net cash used in operating activities (85,839) (97,892)
Investing Activities    
Purchases of property, equipment, and intangible assets (47,861) (38,148)
Net cash used in investing activities (47,861) (38,148)
Financing Activities    
Payment of IPO related costs (1,155) 0
Proceeds from warrant exercise 922 0
Repurchase of Class A shares to cover employee tax withholdings (4,529) 0
Proceeds from HPS Credit Facility and Warrants, net 388,000 0
Borrowings on long-term debt 16,807 151,300
Payments of loan costs (11,336) (6,127)
Principal payments on long-term debt (180,762) (152,400)
Principal payments on related party debt 0 (20,598)
Payments on finance leases (4,997) 0
Other 1,263 (976)
Net cash provided by (used in) financing activities 204,213 (28,801)
Increase (decrease) in cash and cash equivalents 70,513 (164,841)
Cash and cash equivalents at beginning of period 318,458 313,929
Cash and cash equivalents at end of period $ 388,971 $ 149,088