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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating Activities    
Net income $ 1,324 $ 32,619
Adjustments to reconcile net income to net cash (used in) provided by operating activites:    
Depreciation and amortization 2,199 1,400
Bad debt expense (recoveries) (155) 240
Amortization of debt issuance costs 589 222
Provision for obsolete inventory 140 471
Non-cash lease expense 240 226
Non-cash sponsor share transfers 7,216  
Non-cash fees under SEPA 119  
Share-based compensation expense 82,180  
Gain from change in fair value of warrant liability (5,127)  
Gain from change in fair value of earnout liability (61,770)  
Loss from extinguishment of debt 445  
Deferred income taxes (743)  
Changes in operating assets and liabilities:    
Accounts receivable (1,562) (752)
Inventory (1,708) (5,762)
Other current assets (2,284) 34
Accounts payable 416 1,605
Deferred revenue 384 (373)
Accrued expenses (30,841) 4,029
Operating lease liabilities (219) (239)
Net cash (used in) provided by operating activities (9,157) 33,720
Investing Activities    
Purchases of property and equipment (333) (1,448)
Purchases of capitalized software (1,505) (2,359)
Net cash used in investing activities (1,838) (3,807)
Financing Activities    
Proceeds from the Business Combination 12,282  
Principal repayments on term loan (4,375) (5,000)
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)  
Settlement of RSUs (424)  
Distributions (12,886) (11,402)
Capitalized transaction costs (8,341) (3,941)
Proceeds from issuance of shares under SEPA 442  
SEPA transaction costs (702)  
Net cash provided by (used in) financing activities 63,460 (20,343)
Effect of exchange rate changes on cash and cash equivalents   (12)
Net increase in cash and cash equivalents 52,465 9,558
Cash and cash equivalents at beginning of period 26,766 17,208
Cash and cash equivalents at end of period 79,231 26,766
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest 4,426 1,462
Cash paid for income taxes 282 171
Non-cash investing and financing activities    
Capital expenditures and capitalized software included in accounts payable 49 $ 282
Non-cash SEPA transaction costs $ 119