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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net income (loss) $ (11,979) $ 18,602
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization 1,064 655
Bad debt expense 60 90
Amortization of debt issuance costs 188 111
Provision for obsolete inventory 20 120
Non-cash lease expense 116 112
Non-cash sponsor share transfers 7,216  
Share-based compensation expense 79,270  
Gain from change in fair value of warrant liability (3,399)  
Gain from change in fair value of earnout liability (61,680)  
Loss from extinguishment of debt 445  
Deferred income taxes (598)  
Changes in operating assets and liabilities:    
Accounts receivable (1,652) (1,198)
Inventory (217) (2,316)
Other current assets (5,407) (1,192)
Accounts payable 3,839 945
Deferred revenue 201 70
Accrued expenses (28,965) 1,438
Operating lease liabilities (123) (119)
Net cash (used in) provided by operating activities (21,601) 17,318
Investing Activities    
Purchases of property and equipment (328) (1,021)
Purchases of capitalized software (812) (410)
Net cash used in investing activities (1,140) (1,431)
Financing Activities    
Proceeds from the Business Combination 12,282  
Principal repayments on term loan (1,250) (2,500)
Borrowings on term loan 125,000  
Extinguishment of Bank of America term loan (36,250)  
Debt issuance costs (4,036)  
Distributions (8,707) (7,967)
Capitalized transaction costs (8,341)  
Net cash provided by (used in) financing activities 78,698 (10,467)
Effect of exchange rate changes on cash and cash equivalents 2 1
Net increase in cash and cash equivalents 55,959 5,421
Cash and cash equivalents at beginning of period 26,766 17,208
Cash and cash equivalents at end of period 82,725 22,629
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest 982 794
Cash paid for income taxes 171 163
Non-cash investing and financing activities    
Capital expenditures and capitalized software included in accounts payable $ 126 $ 82