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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income (loss) $ (82,874) $ 23,161
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 14,619 13,520
Share-based compensation expense 128,029 16,632
Provision for losses on accounts receivable 4,240 3,707
Other (31) 257
Changes in operating assets and liabilities:    
Accounts receivable (17,285) (11,958)
Inventories (6,226) 3,571
Other current assets 768 (2,173)
Accounts payable 14,158 10,213
Accrued compensation (3,373) (2,396)
Other operating liabilities (16,402) 1,731
Net cash provided by operating activities 35,623 56,265
Investing activities    
Purchases of property and equipment (11,867) (11,793)
Payment for acquisitions (12,460) (985)
Other 544 484
Net cash used in investing activities (23,783) (12,294)
Financing activities    
Proceeds from equity offering, net of underwriter fees 119,784  
Payments of equity offering costs (538)  
Payments to Class B common stock stockholders (55,176)  
Borrowings from notes payable 15,000  
Repayment of notes payable (3,750) (3,000)
Borrowings from line of credit 189,300 198,000
Repayments of line of credit (188,300) (196,000)
Principal payments on finance lease obligations (3,309) (3,091)
Contributions from non-controlling interests 2,107 538
Distributions to non-controlling interests (14,279) (11,732)
Member distributions (36,050) (28,422)
Other (160) (250)
Net cash provided by (used in) financing activities 24,629 (43,957)
Net change in cash and cash equivalents 36,469 14
Cash and cash equivalents, beginning of period 752 607
Cash and cash equivalents, end of period 37,221 621
Supplemental disclosure of cash flow information    
Cash paid during the year for interest 2,851 2,082
Supplemental disclosure of non-cash investing and financing activities    
Purchases of property and equipment through finance leases 2,256 5,562
Accrued and capitalized offering costs recorded to additional paid-in capital 12,509  
Non-cash equity contributions from non-controlling members $ 4,989 $ 225