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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net income (loss) $ (11,485) $ 27,139
Adjustments to reconcile net income (Loss) to net cash provided by operating activites:    
Depreciation and amortization 1,644 987
Bad debt expense (recoveries) (210) 165
Amortization of debt issuance costs 392 166
Provision for obsolete inventory 80 180
Non-cash lease expense 175 168
Non-cash sponsor share transfers 7,216  
Non-cash fees under SEPA 108  
Share-based compensation expense 80,016  
Gain from change in fair value of warrant liability (4,552)  
Gain from change in fair value of earnout liability (54,840)  
Loss from extinguishment of debt 445  
Deferred income taxes (597)  
Changes in operating assets and liabilities:    
Accounts receivable (2,194) (1,423)
Inventory (646) (5,298)
Other current assets (3,999) (1,295)
Accounts payable 4,476 1,926
Deferred revenue 344 (199)
Accrued expenses (31,396) 1,303
Operating lease liabilities (185) (179)
Net cash (used in) provided by operating activities (15,208) 23,640
Investing Activities    
Purchases of property and equipment (328) (774)
Purchases of capitalized software (1,199) (1,986)
Net cash used in investing activities (1,527) (2,760)
Financing Activities    
Proceeds from the Business Combination 12,282  
Principal repayments on term loan (2,813) (3,750)
Borrowings on term loan 125,000  
Extinguishment of Bank of America term loan (36,250)  
Debt issuance costs (4,036)  
Settlement of phantom equity rights (7,250)  
Distributions (10,610) (11,403)
Capitalized transaction costs (8,341)  
Proceeds from issuance of shares under SEPA 156  
SEPA transaction costs (702)  
Net cash provided by (used in) financing activities 67,436 (15,153)
Effect of exchange rate changes on cash and cash equivalents (6) (12)
Net increase in cash and cash equivalents 50,695 5,715
Cash and cash equivalents at beginning of period 26,766 17,208
Cash and cash equivalents at end of period 77,461 22,923
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest 2,488 1,149
Cash paid for income taxes 111 $ 163
Non-cash investing and financing activities    
Capital expenditures and capitalized software included in accounts payable 122  
Non-cash SEPA transaction costs $ 108