XML 159 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (80,298) $ (34,567) $ (55,461)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 34,745 26,584 24,210
Impairment charges 5,686    
Equity-based compensation 11,608 8,708 2,631
Paid-in-kind interest added to debt principal     295
Provision for credit losses 2,316 979 1,790
Amortization of deferred financing fees included in interest expense 3,224 3,517 1,726
Write-off of unamortized deferred financing fees     4,296
Loss on debt extinguishment     1,580
(Gain) loss on disposal of property, plant and equipment (1,722) 1,153 935
Mark-to-market adjustments (4,622) (104) 3,502
Change in fair value of warrant liabilities (7,015) (10,207) 29,675
Foreign currency transactions 598 1,864 667
Deferred income tax expense (benefit) 3,287 (6,512) (2,037)
Other 1,257 2,486 1,204
Change in operating assets and liabilities:      
Accounts receivable (2,766) 1,688 (16,789)
Inventories (6,558) 915 (46,770)
Derivative assets and liabilities 16,383 6,440 (22,937)
Prepaid expense and other assets 1,983 (1,890) (15,476)
Accounts payable 5,693 (59,292) 27,646
Accrued liabilities and other 2,958 (5,826) 2,685
Net cash used in operating activities (13,243) (64,064) (56,628)
Cash flows from investing activities:      
Additions to property, plant and equipment (159,625) (164,611) (63,261)
Additions to intangible assets (173) (173) (167)
Acquisition of business, net of cash acquired   (2,392) (14,885)
Acquisition of equity method investments and non-marketable securities   (1,385)  
Proceeds from sale of property, plant and equipment 13,875 206 4,144
Net cash used in investing activities (145,923) (168,355) (74,169)
Cash flows from financing activities:      
Payments on debt (181,242) (199,196) (438,571)
Proceeds from debt 278,141 258,490 328,539
Payments on supply chain financing program (163,869) (32,141)  
Proceeds from supply chain financing program 164,631 110,217  
Proceeds from convertible notes payable 22,000    
Proceeds from convertible notes payable - related party 50,000    
Proceeds from related party debt     11,700
Debt extinguishment costs     (1,580)
Payment of debt issuance costs (3,329) (3,158) (6,007)
Payment of convertible notes payable issuance costs (511)    
Proceeds from de-SPAC merger and PIPE financing     255,737
Net proceeds from (repayments of) repurchase agreements (7,706) (6,268) 14,588
Proceeds from exercise of stock options 12 848 375
Proceeds from exercise of Public Warrants   2,632  
Proceeds from issuance of common stock 635 118,767  
Common equivalent preferred dividends     (4,380)
Payment of equity issuance costs (10) (1,000) (23,998)
Payment of preferred equity issuance costs     (1,250)
Payment for purchase of non-controlling interest   (2,000)  
Payment for taxes for net share settlement of equity awards (2,122) (2,977) (477)
Net cash provided by financing activities 156,630 244,214 134,676
Effect of exchange rate changes on cash 260 (360) (344)
Net (decrease) increase in cash and cash equivalents and restricted cash (2,276) 11,435 3,535
Cash and cash equivalents and restricted cash at beginning of period 37,840 26,405 22,870
Cash and cash equivalents and restricted cash at end of period 35,564 37,840 26,405
Supplemental non-cash investing and financing activities:      
Property, plant and equipment acquired but not yet paid 32,582 23,124 8,811
Supplemental cash flow information:      
Cash paid for interest 37,552 29,446 30,448
Cash paid for income taxes, net $ 411 $ 1,432 $ 814