XML 19 R7.htm IDEA: XBRL DOCUMENT v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (48,781) $ (41,432)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 26,771 15,516
Impairment charges   831
Equity-based compensation 8,080 5,481
Provision for credit losses (22) 1,026
Amortization of deferred financing fees included in interest expense 1,755 1,715
Write-off of unamortized deferred financing fees 137  
(Gain) loss on disposal of property, plant and equipment 7 973
Gain on de-consolidation of Rwanda Trading Company (2,291)  
Mark-to-market adjustments (3,514) (3,162)
Change in fair value of warrant liabilities 0 (1,653)
Foreign currency transactions (141) 53
Deferred income tax expense (benefit) 1,458 1,170
Other (2,738) 490
Change in operating assets and liabilities:    
Accounts receivable 12,154 (3,954)
Inventories (43,345) (12,912)
Derivative assets and liabilities (8,388) 4,709
Prepaid expense and other assets 1,520 733
Accounts payable 10,931 (20,211)
Accrued liabilities and other 17,334 34,936
Net cash used in operating activities (29,073) (15,691)
Cash flows from investing activities:    
Additions to property, plant and equipment (61,826) (105,105)
Additions to intangible assets (40) (104)
Proceeds from sale of equity method investments and non-marketable securities 500  
Acquisition of equity method investments and non-marketable securities, inclusive of cash contributed (2,952)  
Proceeds from sale of property, plant and equipment 316 449
Net cash used in investing activities (64,002) (104,760)
Cash flows from financing activities:    
Payments on debt (46,799) (134,634)
Proceeds from debt 131,373 184,124
Payments on supply chain financing program (79,847) (49,612)
Proceeds from supply chain financing program 99,309 47,872
Proceeds from convertible notes payable   22,000
Proceeds from convertible notes payable - related party   50,000
Payment of debt issuance costs (2,354) (2,965)
Payment of convertible notes payable issuance costs   (511)
Net proceeds from (repayments of) repurchase agreements 9,769 (7,343)
Proceeds from exercise of stock options   12
Proceeds from issuance of common stock   635
Payment of equity issuance costs   (10)
Payment for taxes for net share settlement of equity awards (1,564) (1,159)
Net cash provided by financing activities 109,887 108,409
Effect of exchange rate changes on cash (52) 229
Net increase (decrease) in cash and cash equivalents and restricted cash 16,760 (11,813)
Cash and cash equivalents and restricted cash at beginning of period 35,564 37,840
Cash and cash equivalents and restricted cash at end of period 52,324 26,027
Supplemental non-cash investing and financing activities:    
Property, plant and equipment acquired but not yet paid $ 10,259 $ 16,191