Restatement (Unaudited)

12 Months Ended

Dec. 31, 2022

Accounting Changes and Error Corrections [Abstract]

Restatement (Unaudited)

Restatement (Unaudited)

Restatement of Previously Issued Unaudited Interim Condensed Consolidated Financial Statements

During the preparation of the Company’s consolidated financial statements for the year ended December 31, 2022, the Company noted that intangible assets acquired and goodwill recognized in connection with the STI Acquisition were not initially recorded at proper amounts and were not allocated to the appropriate entities or maintained in the appropriate functional currency. In addition, an asset capitalized in connection with the STI Acquisition was identified that should have been expensed as incurred.

The Company’s management and the audit committee of the Company’s Board of Directors concluded that it is appropriate to restate the unaudited quarterly condensed consolidated financial statements for the quarterly periods ended March 31, 2022, June 30, 2022 and September 30, 2022.

The following presents the restated unaudited quarterly condensed financial statements as of March 31, 2022, June 30, 2022 and September 30, 2022 and for the three month period ended March 31, 2022, the three and six month periods ended June 30, 2022 and the three and nine month periods ended September 30, 2022.

Consolidated Balance Sheets

	March 31, 2022
(in thousands, except per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
ASSETS
Current assets
Cash and cash equivalents	$	49,491	$	—	$	49,491
Accounts receivable, net	390,921		—		390,921
Inventories, net	299,010		—		299,010
Income tax receivables	31,079		—		31,079
Prepaid expenses and other	46,495		(825)		45,670
Total current assets	816,996		(825)		816,171
Property, plant and equipment, net	16,878		—		16,878
Goodwill	379,840		62,382		442,222
Other intangible assets, net	470,690		11,345		482,035
Deferred tax assets	—		—		—
Other assets	31,314		(4,770)		26,544
Total assets	$	1,715,718	$	68,132	$	1,783,850
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities
Accounts payable	$	187,466	$	—	$	187,466
Accounts payable - related party	478		—		478
Accrued expenses and other	54,837		—		54,837
Accrued warranty reserve	3,201		—		3,201
Income tax payable	6,452				6,452
Deferred revenue	121,624		—		121,624
Current portion of contingent consideration	—		—		—
Current portion of debt	48,180		—		48,180
Other current liabilities	10,886		—		10,886
Total current liabilities	433,124		—		433,124
Long-term liabilities
Deferred tax liability	92,931		6,329		99,260
Contingent consideration, net of current portion	9,363		—		9,363
Other long-term liabilities	7,102		—		7,102
Long-term warranty	4,743		—		4,743
Long-term debt, net of current portion	778,248		—		778,248
Total long-term liabilities	892,387		6,329		898,716
Total liabilities	1,325,511		6,329		1,331,840
Commitments and contingencies (Note 16)
Series A Redeemable Perpetual Preferred Stock of $0.001 par value - 500,000 authorized; 400,000 shares issued as of March 31, 2022; liquidation preference of $400.0 million as of March 31, 2022	281,792		—		281,792

Stockholders’ equity (deficit)
Preferred stock of $0.001 par value - 4,500,000 shares authorized; none issued as of March 31, 2022	—		—		—
Common stock of $0.001 par value - 1,000,000,000 shares authorized; 150,173,507 shares issued as of March 31, 2022	150		—		150
Additional paid-in capital	411,232		—		411,232
Accumulated deficit	(293,956)		(3,883)		(297,839)
Accumulated other comprehensive (loss) income	(9,011)		65,686		56,675
Total stockholders’ equity	108,415		61,803		170,218
Total liabilities, redeemable perpetual preferred stock and stockholders’ equity	$	1,715,718	$	68,132	$	1,783,850

Consolidated Balance Sheets

	June 30, 2022
(in thousands, except per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
ASSETS
Current assets
Cash and cash equivalents	$	51,046	$	—	$	51,046
Accounts receivable, net	452,836		—		452,836
Due from affiliates	—		—		—
Inventories, net	329,951		—		329,951
Income tax receivables	16,217		—		16,217
Prepaid expenses and other	52,831		(825)		52,006
Total current assets	902,881		(825)		902,056
Property, plant and equipment, net	17,802		—		17,802
Goodwill	378,706		38,988		417,694
Other intangible assets, net	421,862		14,687		436,549
Deferred tax assets	18,521		—		18,521
Other assets	30,573		(4,564)		26,009
Total assets	$	1,770,345	$	48,286	$	1,818,631
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities
Accounts payable	$	231,798	$	—	231,798
Accounts payable - related party	478		—		478
Accrued expenses and other	51,072		—		51,072
Accrued warranty reserve	2,911		—		2,911
Income tax payable	419				419
Deferred revenue	167,556		—		167,556
Current portion of debt	51,494		—		51,494
Other current liabilities	6,949		—		6,949
Total current liabilities	512,677		—		512,677
Long-term liabilities
Deferred tax liability	84,819		1,771		86,590
Contingent consideration, net of current portion	7,686		—		7,686
Other long-term liabilities	9,723		—		9,723
Long-term warranty	4,056		—		4,056
Long-term debt, net of current portion	793,557		—		793,557
Total long-term liabilities	899,841		1,771		901,612
Total liabilities	1,412,518		1,771		1,414,289
Commitments and contingencies (Note 16)
Series A Redeemable Perpetual Preferred Stock of $0.001 par value - 500,000 authorized; 412,606 shares issued as of June 30, 2022; liquidation preference of $413.0 million as of June 30, 2022.	293,974		—		293,974

Stockholders’ equity					—
Preferred stock of $0.001 par value - 4,500,000 shares authorized; none issued as of June 30, 2022	—		—		—
Common stock of $0.001 par value - 1,000,000,000 shares authorized; 150,279,160 shares issued as of June 30, 2022	150		—		150
Additional paid-in capital	401,614		—		401,614
Accumulated deficit	(299,182)		(3,681)		(302,863)
Accumulated other comprehensive (loss) income	(38,729)		50,196		11,467
Total stockholders’ equity	63,853		46,515		110,368
Total liabilities, redeemable perpetual preferred stock and stockholders’ equity	$	1,770,345	$	48,286	$	1,818,631

Consolidated Balance Sheets

	September 30, 2022
(in thousands, except per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
ASSETS
Current assets
Cash and cash equivalents	$	62,778	$	—	$	62,778
Accounts receivable, net	485,174		—		485,174
Inventories, net	269,775		—		269,775
Income tax receivables	12,765		—		12,765
Prepaid expenses and other	41,309		(825)		40,484
Total current assets	871,801		(825)		870,976
Property, plant and equipment, net	20,024		—		20,024
Goodwill	359,629		41,744		401,373
Other intangible assets, net	384,084		15,799		399,883
Deferred tax assets	18,785		—		18,785
Other assets	27,502		(4,357)		23,145
Total assets	$	1,681,825	$	52,361	$	1,734,186
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities
Accounts payable	$	199,358	$	—	199,358
Accounts payable - related party	478		—		478
Accrued expenses and other	91,102		—		91,102
Accrued warranty reserve	4,237		—		4,237
Income tax payable	10,587				10,587
Deferred revenue	154,692		—		154,692
Current portion of contingent consideration	—		—		—
Current portion of debt	47,686		—		47,686
Other current liabilities	4,981		—		4,981
Total current liabilities	513,121		—		513,121
Long-term liabilities
Deferred tax liability	74,139		2,725		76,864
Contingent consideration, net of current portion	7,113		—		7,113
Other long-term liabilities	9,113		—		9,113
Long-term warranty	3,852		—		3,852
Long-term debt, net of current portion	725,109		—		725,109
Total long-term liabilities	819,326		2,725		822,051
Total liabilities	1,332,447		2,725		1,335,172
Commitments and contingencies (Note 16)

Series A Redeemable Perpetual Preferred Stock of $0.001 par value - 500,000 authorized; 400,000 shares issued as of September 30, 2022; liquidation preference of $400.0 million as of September 30, 2022	287,561		—		287,561
Stockholders’ equity					—
Preferred stock of $0.001 par value - 4,500,000 shares authorized; none issued as of September 30, 2022	—		—		—
Common stock of $0.001 par value - 1,000,000,000 shares authorized; 150,334,261 shares issued as of September 30, 2022	150		—		150
Additional paid-in capital	392,862		—		392,862
Accumulated deficit	(258,360)		(3,859)		(262,219)
Accumulated other comprehensive (loss) income	(72,835)		53,495		(19,340)
Total stockholders’ equity	61,817		49,636		111,453
Total liabilities, redeemable perpetual preferred stock and stockholders’ equity	$	1,681,825	$	52,361	$	1,734,186

Consolidated Statements of Operations

	Three Months Ended March 31, 2022
(in thousands, expect per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustment		As Restated
Revenue	$	300,586	$	—	$	300,586
Cost of revenue	273,999		—		273,999
Gross profit	26,587		—		26,587
Operating expenses
General and administrative	39,827		5,598		45,425
Contingent consideration	(3,731)		—		(3,731)
Depreciation and amortization	22,652		585		23,237
Total operating expenses	58,748		6,183		64,931
Income (loss) from operations	(32,161)		(6,183)		(38,344)
Other expense
Other income (expense), net	743		—		743
Foreign currency gain	3,863		—		3,863
Interest expense	(6,942)		—		(6,942)
Total other expense	(2,336)		—		(2,336)
Income (loss) before income tax expense (benefit)	(34,497)		(6,183)		(40,680)
Income tax expense (benefit)	(12,443)		(2,300)		(14,743)
Net income (loss)	(22,054)		(3,883)		(25,937)
Preferred dividends and accretion	11,606		—		11,606
Net income (loss) to common shareholders	$	(33,660)	$	(3,883)	$	(37,543)
Earnings (loss) per share
Basic	$	(0.23)	$	(0.03)	$	(0.25)
Diluted	$	(0.23)	$	(0.03)	$	(0.25)
Weighted average number of shares
Basic	148,288		—		148,288
Diluted	148,288		—		148,288

Consolidated Statements of Operations

	Three Months Ended June 30, 2022
(in thousands, expect per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustment		As Restated
Revenue	$	419,865	$	—	$	419,865
Cost of revenue	379,919		—		379,919
Gross profit	39,946		—		39,946
Operating expenses
General and administrative	29,143		(207)		28,936
Contingent consideration	(1,678)		—		(1,678)
Depreciation and amortization	24,389		1,631		26,020
Total operating expenses	51,854		1,424		53,278
Income (loss) from operations	(11,908)		(1,424)		(13,332)
Other expense
Other income (expense), net	(371)		—		(371)
Foreign currency gain (loss)	(1,736)		—		(1,736)
Interest expense	(8,021)		—		(8,021)
Total other expense	(10,128)		—		(10,128)
Loss before income tax benefit	(22,036)		(1,424)		(23,460)
Income tax benefit	(16,810)		(1,626)		(18,436)
Net loss	(5,226)		202		(5,024)
Preferred dividends and accretion	12,182		—		12,182
Net loss to common shareholders	$	(17,408)	$	202	$	(17,206)
Loss per common share
Basic	$	(0.12)	$	—	$	(0.11)
Diluted	$	(0.12)	$	—	$	(0.11)
Weighted average number of common shares
Basic	150,203		—		150,203
Diluted	150,203		—		150,203

Consolidated Statements of Operations

	Three Months Ended September 30, 2022
(in thousands, expect per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Revenue	$	515,024	$	—	$	515,024
Cost of revenue	434,801		—		434,801
Gross profit	80,223		—		80,223
Operating expenses
General and administrative	38,911		(208)		38,703
Contingent consideration	(572)		—		(572)
Depreciation and amortization	23,364		1,534		24,898
Total operating expenses	61,703		1,326		63,029
Income (loss) from operations	18,520		(1,326)		17,194
Other income (expense)
Other expense, net	(399)		—		(399)
Legal settlement	42,750		—		42,750
Foreign currency gain (loss)	(159)		—		(159)
Interest expense	(8,746)		—		(8,746)
Total other income (expense)	33,446		—		33,446
Income (loss) before income tax (benefit) expense	51,966		(1,326)		50,640
Income tax (benefit) expense	11,144		(1,148)		9,996
Net income (loss)	40,822		(178)		40,644
Preferred dividends and accretion	12,257		—		12,257
Net income (loss) to common shareholders	$	28,565	$	(178)	$	28,387
Income (loss) per common share
Basic	$	0.19	$	—	$	0.19
Diluted	$	0.19	$	—	$	0.19
Weighted average number of common shares
Basic	150,322		—		150,322
Diluted	151,382		—		151,382

Consolidated Statements of Operations

	Six Months Ended June 30, 2022
(in thousands, expect per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustment		As Restated
Revenue	$	720,451	$	—	$	720,451
Cost of revenue	653,918		—		653,918
Gross profit	66,533		—		66,533
Operating expenses
General and administrative	68,970		5,391		74,361
Contingent consideration	(5,409)		—		(5,409)
Depreciation and amortization	47,041		2,216		49,257
Total operating expenses	110,602		7,607		118,209
Income (loss) from operations	(44,069)		(7,607)		(51,676)
Other expense
Other income (expense), net	372		—		372
Foreign currency gain (loss)	2,127		—		2,127
Interest expense	(14,963)		—		(14,963)
Total other expense	(12,464)		—		(12,464)
Loss before income tax benefit	(56,533)		(7,607)		(64,140)
Income tax benefit	(29,253)		(3,926)		(33,179)
Net loss	(27,280)		(3,681)		(30,961)
Preferred dividends and accretion	23,788		—		23,788
Net loss to common shareholders	$	(51,068)	$	(3,681)	$	(54,749)
Loss per common share
Basic	$	(0.34)	$	(0.02)	$	(0.37)
Diluted	$	(0.34)	$	(0.02)	$	(0.37)
Weighted average number of common shares
Basic	149,246		—		149,246
Diluted	149,246		—		149,246

Consolidated Statements of Operations

	Nine Months Ended September 30, 2022
(in thousands, expect per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Revenue	$	1,235,475	$	—	$	1,235,475
Cost of revenue	1,088,719		—		1,088,719
Gross profit	146,756		—		146,756
Operating expenses
General and administrative	107,881		5,183		113,064
Contingent consideration	(5,981)		—		(5,981)
Depreciation and amortization	70,405		3,750		74,155
Total operating expenses	172,305		8,933		181,238
Income (loss) from operations	(25,549)		(8,933)		(34,482)
Other income (expense)
Other expense, net	(27)		—		(27)
Legal settlement	42,750		—		42,750
Foreign currency gain (loss)	1,968		—		1,968
Interest expense	(23,709)		—		(23,709)
Total other income (expense)	20,982		—		20,982
Income (loss) before income tax (benefit) expense	(4,567)		(8,933)		(13,500)
Income tax (benefit) expense	(18,109)		(5,074)		(23,183)
Net income (loss)	13,542		(3,859)		9,683
Preferred dividends and accretion	36,045		—		36,045
Net income (loss) to common shareholders	$	(22,503)	$	(3,859)	$	(26,362)
Income (loss) per common share
Basic	$	(0.15)	$	(0.03)	$	(0.18)
Diluted	$	(0.15)	$	(0.03)	$	(0.18)
Weighted average number of common shares
Basic	149,604		—		149,604
Diluted	149,604		—		149,604

Consolidated Statements of Comprehensive Income (Loss)

	Three Months Ended March 31, 2022
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustment		As Restated
Net loss	$	(22,054)	$	(3,883)	$	(25,937)
Change in foreign currency translation adjustments	(9,011)		65,686		56,675
Comprehensive income (loss)	$	(31,065)	$	61,803	$	30,738

Consolidated Statements of Comprehensive Loss

	Three Months Ended June 30, 2022
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustment		As Restated
Net income (loss)	$	(5,226)	$	202	$	(5,024)
Change in foreign currency translation adjustments	(29,718)		(15,490)		(45,208)
Comprehensive loss	$	(34,944)	$	(15,288)	$	(50,232)

Consolidated Statements of Comprehensive Income

	Three Months Ended September 30, 2022
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustment		As Restated
Net income (loss)	$	40,822	$	(178)	$	40,644
Change in foreign currency translation adjustments	(34,106)		3,299		(30,807)
Comprehensive income	$	6,716	$	3,121	$	9,837

Consolidated Statements of Comprehensive Income (Loss)

	Six Months Ended June 30, 2022
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustment		As Restated
Net loss	$	(27,280)	$	(3,681)	$	(30,961)
Change in foreign currency translation adjustments	(38,729)		50,196		11,467
Comprehensive income (loss)	$	(66,009)	$	46,515	$	(19,494)

Consolidated Statements of Comprehensive Income (Loss)

	Nine Months Ended September 30, 2022
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustment		As Restated
Net income (loss)	$	13,542	$	(3,859)	$	9,683
Change in foreign currency translation adjustments	(72,835)		53,495		(19,340)
Comprehensive income (loss)	$	(59,293)	$	49,636	$	(9,657)

Consolidated Statements of Changes in Redeemable Perpetual Preferred Stock and Stockholders’ Equity (Deficit) - Three Months Ended March 31, 2022

	Temporary Equity			Permanent Equity
(in thousands, share amounts) (unaudited)	Series A Redeemable Perpetual Preferred Stock			Preferred Stock			Common Stock
As Previously Reported	Shares	Amount		Shares	Amount		Shares	Amount		Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity (Deficit)
Balance, December 31, 2021	350	$	237,462	—	$	—	135,027	$	135	$	202,562	$	(271,902)	$	—	$	(69,205)
Equity-based compensation	—	—		—	—		—	—		4,413		—		—		4,413
Issuance of Series A Redeemable Perpetual Preferred Stock, net of fees	50	32,724		—	—		15,147	15		215,863		—		—		215,878
Preferred cumulative dividends plus accretion	—	11,606		—	—		—	—		(11,606)		—		—		(11,606)
Net loss	—	—		—	—		—	—		—		(22,054)		—		(22,054)
Other comprehensive loss	—	—		—	—		—	—		—		—		(9,011)		(9,011)
Balance, March 31, 2022	400	$	281,792	—	$	—	150,174	$	150	$	411,232	$	(293,956)	$	(9,011)	$	108,415
Adjustments
Balance, December 31, 2021	—	$	—	—	$	—	—	$	—	$	—	$	—	$	—	$	—
Net loss	—	—		—	—		—	—		—		(3,883)		—		(3,883)
Other comprehensive income	—	—		—	—		—	—		—		—		65,686		65,686
Total Adjustments	—	$	—	—	$	—	—	$	—	$	—	$	(3,883)	$	65,686	$	61,803
As Restated

Balance, December 31, 2021	350	$	237,462	—	$	—	135,027	$	135	$	202,562	$	(271,902)	$	—	$	(69,205)
Equity-based compensation	—	—		—	—		—	—		4,413		—		—		4,413
Issuance of Series A Redeemable Perpetual Preferred Stock, net of fees	50	32,724		—	—		15,147	15		215,863		—		—		215,878
Preferred cumulative dividends plus accretion	—	11,606		—	—		—	—		(11,606)		—		—		(11,606)
Net loss	—	—		—	—		—	—		—		(25,937)		—		(25,937)
Other comprehensive income	—	—		—	—		—	—		—		—		56,675		56,675
Balance, March 31, 2022 - As Restated	400	$	281,792	—	$	—	150,174	$	150	$	411,232	$	(297,839)	$	56,675	$	170,218

Consolidated Statements of Changes in Redeemable Perpetual Preferred Stock and Stockholders’ Equity (Deficit) - Three Months Ended June 30, 2022

	Temporary Equity			Permanent Equity
(in thousands, share amounts) (unaudited)	Series A Redeemable Perpetual Preferred Stock			Preferred Stock			Common Stock
As Previously Reported	Shares	Amount		Shares	Amount		Shares	Amount		Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity (Deficit)
Balance at March 31, 2022	400	$	281,792	—	$	—	150,174	$	150	$	411,232	$	(293,956)	$	(9,011)	$	108,415
Equity-based compensation	—	—		—	—		105	—		2,944		—		—		2,944
Issuance of Series A Redeemable Perpetual Preferred Stock, net of fees	—	—		—	—		—	—		(380)		—		—		(380)
Preferred cumulative dividends plus accretion	13	12,182		—	—		—	—		(12,182)		—		—		(12,182)
Net loss	—	—		—	—		—	—		—		(5,226)		—		(5,226)
Other comprehensive loss	—	—		—	—		—	—		—		—		(29,718)		(29,718)
Balance at June 30, 2022	413	$	293,974	—	$	—	150,279	$	150	$	401,614	$	(299,182)	$	(38,729)	$	63,853
Adjustments
Balance at March 31, 2022	—	$	—	—	$	—	—	$	—	$	—	$	(3,883)	$	65,686	$	61,803
Net income	—	—		—	—		—	—		—		202		—		202
Other comprehensive loss	—	—		—	—		—	—		—		—		(15,490)		(15,490)
Total Adjustments	—	$	—	—	$	—	—	$	—	$	—	$	(3,681)	$	50,196	$	46,515
As Restated
Balance at March 31, 2022	400	$	281,792	—	$	—	150,174	$	150	$	411,232	$	(297,839)	$	56,675	$	170,218

Equity-based compensation	—	—		—	—		105	—		2,944		—		—		2,944
Issuance of Series A Redeemable Perpetual Preferred Stock, net of fees	—	—		—	—		—	—		(380)		—		—		(380)
Preferred cumulative dividends plus accretion	13	12,182		—	—		—	—		(12,182)		—		—		(12,182)
Net loss	—	—		—	—		—	—		—		(5,024)		—		(5,024)
Other comprehensive loss	—	—		—	—		—	—		—		—		(45,208)		(45,208)
Balance, June 30, 2022 - As Restated	413	$	293,974	—	$	—	150,279	$	150	$	401,614	$	(302,863)	$	11,467	$	110,368

Statement of Changes in Shareholders' Equity/(Deficit) - Three Months Ended September 30, 2022

	Temporary Equity			Permanent Equity
(in thousands, share amounts) (unaudited)	Series A Redeemable Perpetual Preferred Stock			Preferred Stock			Common Stock
As Previously Reported	Shares	Amount		Shares	Amount		Shares	Amount		Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity (Deficit)
Balance at June 30, 2022	413	$	293,974	—	$	—	150,279	$	150	$	401,614	$	(299,182)	$	(38,729)	$	63,853
Equity-based compensation	—	—		—	—		55	—		4,097		—		—		4,097
Issuance of Series A Redeemable Perpetual Preferred Stock, net of fees	—	—		—	—		—	—		(592)		—		—		(592)
Preferred cumulative dividends plus accretion	—	12,257		—	—		—	—		(12,257)		—		—		(12,257)
Dividends paid	(13)	(18,670)		—	—		—	—		—		—		—		—
Net income	—	—		—	—		—	—		—		40,822		—		40,822
Other comprehensive loss	—	—		—	—		—	—		—		—		(34,106)		(34,106)
Balance at September 30, 2022	400	$	287,561	—	$	—	150,334	$	150	$	392,862	$	(258,360)	$	(72,835)	$	61,817
Adjustments
Balance at June 30, 2022	—	$	—	—	$	—	—	$	—	$	—	$	(3,681)	$	50,196	$	46,515
Net loss	—	—		—	—		—	—		—		(178)		—		(178)
Other comprehensive loss	—	—		—	—		—	—		—		—		3,299		3,299
Total Adjustments	—	$	—	—	$	—	—	$	—	$	—	$	(3,859)	$	53,495	$	49,636
As Restated
Balance at June 30, 2022	413	$	293,974	—	$	—	150,279	$	150	$	401,614	$	(302,863)	$	11,467	$	110,368

Equity-based compensation	—	—		—	—		55	—		4,097		—		—		4,097
Issuance of Series A Redeemable Perpetual Preferred Stock, net of fees	—	—		—	—		—	—		(592)		—		—		(592)
Preferred cumulative dividends plus accretion	—	12,257		—	—		—	—		(12,257)		—		—		(12,257)
Dividends paid	(13)	(18,670)		—	—		—	—		—		—		—		—
Net income	—	—		—	—		—	—		—		40,644		—		40,644
Other comprehensive loss	—	—		—	—		—	—		—		—		(30,807)		(30,807)
Balance, September 30, 2022 - As Restated	400	$	287,561	—	$	—	150,334	$	150	$	392,862	$	(262,219)	$	(19,340)	$	111,453

Consolidated Statements of Changes in Redeemable Perpetual Preferred Stock and Stockholders’ Equity (Deficit) - Six Months Ended June 30, 2022

	Temporary Equity			Permanent Equity
(in thousands, share amounts) (unaudited)	Series A Redeemable Perpetual Preferred Stock			Preferred Stock			Common Stock
As Previously Reported	Shares	Amount		Shares	Amount		Shares	Amount		Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity (Deficit)
Balance at December 31, 2021	350	$	237,462	—	$	—	135,027	$	135	$	202,562	$	(271,902)	$	—	$	(69,205)
Equity-based compensation	—	—		—	—		—	—		7,357		—		—		7,357
Issuance of Series A Redeemable Perpetual Preferred Stock, net of fees	50	32,724		—	—		15,252	15		215,483		—		—		215,498
Preferred cumulative dividends plus accretion	13	23,788		—	—		—	—		(23,788)		—		—		(23,788)
Net loss	—	—		—	—		—	—		—		(27,280)		—		(27,280)
Other comprehensive loss	—	—		—	—		—	—		—		—		(38,729)		(38,729)
Balance at June 30, 2022	413	$	293,974	—	$	—	150,279	$	150	$	401,614	$	(299,182)	$	(38,729)	$	63,853
Adjustments
Balance, December 31, 2021	—	$	—	—	$	—	—	$	—	$	—	$	—	$	—	$	—
Net loss	—	—		—	—		—	—		—		(3,681)		—		(3,681)
Other comprehensive income	—	—		—	—		—	—		—		—		50,196		50,196
Total Adjustments	—	$	—	—	$	—	—	$	—	$	—	$	(3,681)	$	50,196	$	46,515
As Restated
Balance, December 31, 2021	350	$	237,462	—	$	—	135,027	$	135	$	202,562	$	(271,902)	$	—	$	(69,205)

Equity-based compensation	—	—		—	—		—	—		7,357		—		—		7,357
Issuance of Series A Redeemable Perpetual Preferred Stock, net of fees	50	32,724		—	—		15,252	15		215,483		—		—		215,498
Issuance of common stock, net	—	—		—	—		—	—		—		—		—		—
Preferred cumulative dividends plus accretion	13	23,788		—	—		—	—		(23,788)		—		—		(23,788)
Net loss	—	—		—	—		—	—		—		(30,961)		—		(30,961)
Other comprehensive income	—	—		—	—		—	—		—		—		11,467		11,467
Balance, June 30, 2022 - As Restated	413	$	293,974	—	$	—	150,279	$	150	$	401,614	$	(302,863)	$	11,467	$	110,368

Consolidated Statements of Changes in Redeemable Perpetual Preferred Stock and Stockholders’ Equity (Deficit) - Nine Months Ended September 30, 2022

	Temporary Equity			Permanent Equity
(in thousands, share amounts) (unaudited)	Series A Redeemable Perpetual Preferred Stock			Preferred Stock			Common Stock
As Previously Reported	Shares	Amount		Shares	Amount		Shares	Amount		Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity (Deficit)
Balance at December 31, 2021	350	$	237,462	—	$	—	135,027	$	135	$	202,562	$	(271,902)	$	—	$	(69,205)
Equity-based compensation	—	—		—	—		161	—		11,454		—		—		11,454
Issuance of Series A Redeemable Perpetual Preferred Stock, net of fees	50	32,724		—	—		15,146	15		214,891		—		—		214,906
Preferred cumulative dividends plus accretion	13	36,045		—	—		—	—		(36,045)		—		—		(36,045)
Dividends paid	(13)	(18,670)		—	—		—	—		—		—		—		—
Net income	—	—		—	—		—	—		—		13,542		—		13,542
Other comprehensive loss	—	—		—	—		—	—		—		—		(72,835)		(72,835)
Balance at September 30, 2022	400	$	287,561	—	$	—	150,334	$	150	$	392,862	$	(258,360)	$	(72,835)	$	61,817
Adjustments
Balance, December 31, 2021	—	$	—	—	$	—	—	$	—	$	—	$	—	$	—	$	—
Net loss	—	—		—	—		—	—		—		(3,859)		—		(3,859)
Other comprehensive income	—	—		—	—		—	—		—		—		53,495		53,495
Total Adjustments	—	$	—	—	$	—	—	$	—	$	—	$	(3,859)	$	53,495	$	49,636
As Restated

Balance, December 31, 2021	350	$	237,462	—	$	—	135,027	$	135	$	202,562	$	(271,902)	$	—	$	(69,205)
Equity-based compensation	—	—		—	—		161	—		11,454		—		—		11,454
Issuance of Series A Redeemable Perpetual Preferred Stock, net of fees	50	32,724		—	—		15,146	15		214,891		—		—		214,906
Issuance of common stock, net	—	—		—	—		—	—		—		—		—		—
Preferred cumulative dividends plus accretion	13	36,045		—	—		—	—		(36,045)		—		—		(36,045)
Dividends paid	(13)	(18,670)		—	—		—	—		—		—		—		—
Net income	—	—		—	—		—	—		—		9,683		—		9,683
Other comprehensive loss	—	—		—	—		—	—		—		—		(19,340)		(19,340)
Balance, September 30, 2022 - As Restated	400	$	287,561	—	$	—	150,334	$	150	$	392,862	$	(262,219)	$	(19,340)	$	111,453

Consolidated Statements of Cash Flows

	Three Months Ended March 31, 2022
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Cash flows from operating activities
Net income (loss)	$	(22,054)	$	(3,883)	$	(25,937)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Provision for (recovery of) bad debts	145		—		145
Deferred tax expense (benefit)	6,649		(2,300)		4,349
Depreciation and amortization	23,023		585		23,608
Amortization of debt discount and issuance costs	1,710		—		1,710
Equity-based compensation	4,508		—		4,508
Contingent consideration	(3,731)		—		(3,731)
Warranty provision	594		—		594
Provision for inventory obsolescence	409		—		409
Changes in operating assets and liabilities, net of business acquisition
Accounts receivable	(44,268)		—		(44,268)
Inventories	(46,250)		—		(46,250)
Income tax receivables	(21,924)		—		(21,924)
Prepaid expenses and other	5,960		5,598		11,558
Accounts payable	59,551		—		59,551
Accounts payable - related party	(132)		—		(132)
Accrued expenses and other	7,027		—		7,027
Income tax payable	(8,760)		—		(8,760)
Lease liabilities	6,085		—		6,085
Deferred revenue	(18,639)		—		(18,639)
Net cash used in operating activities	(50,097)		—		(50,097)
Cash flows from investing activities
Purchase of property, plant and equipment	(2,357)		—		(2,357)
Acquisition of STI, net of cash acquired	(373,816)		—		(373,816)
Investment in equity security	—		—		—
Net cash used in investing activities	(376,173)		—		(376,173)
Cash flows from financing activities
Proceeds from Series A issuance	33,098		—		33,098
Proceeds from common stock issuance	15,885		—		15,885
Series A equity issuance costs	(175)		—		(175)
Common stock issuance costs	(450)		—		(450)
Proceeds from revolving credit facility	52,000		—		52,000
Payments on revolving credit facility	—		—		—
Proceeds from issuance of other debt	6,229		—		6,229

Principal payments on debt	(4,368)		—		(4,368)
Contingent consideration	(1,483)		—		(1,483)
Debt issuance costs	—		—		—
Net cash provided by (used in) financing activities	100,736		—		100,736
Effect of exchange rate changes on cash and cash equivalent balances	7,355		—		7,355
Net change in cash and cash equivalents	(318,179)		—		(318,179)
Cash and cash equivalents, beginning of period	367,670				367,670
Cash and cash equivalents, end of period	$	49,491	$	—	$	49,491
Supplemental Cash Flow Information
Stock consideration paid for acquisition of STI	$	200,224	—		200,224

Consolidated Statements of Cash Flows

	Six Months Ended June 30, 2022
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Cash flows from operating activities
Net loss	$	(27,280)	$	(3,681)	$	(30,961)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for (recovery of) bad debts	510		—		510
Deferred tax benefit	(19,984)		(3,926)		(23,910)
Depreciation and amortization	47,579		2,216		49,795
Amortization of debt discount and issuance costs	3,286		—		3,286
Equity-based compensation	7,472		—		7,472
Contingent consideration	(5,409)		—		(5,409)
Warranty provision	1,215		—		1,215
Provision for inventory obsolescence	409		—		409
Changes in operating assets and liabilities, net of business acquisition
Accounts receivable	(106,548)		—		(106,548)
Inventories	(77,191)		—		(77,191)
Income tax receivables	(7,062)		—		(7,062)
Prepaid expenses and other	(376)		5,391		5,015
Accounts payable	74,645		—		74,645
Accounts payable - related party	(132)		—		(132)
Accrued expenses and other	3,356		—		3,356
Income tax payable	(7,217)		—		(7,217)
Lease liabilities	4,700		—		4,700

Deferred revenue	47,263		—		47,263
Net cash used in operating activities	(60,764)		—		(60,764)
Cash flows from investing activities
Purchase of property, plant and equipment	(3,895)		—		(3,895)
Acquisition of STI, net of cash acquired	(373,818)		—		(373,818)
Investment in equity security	—		—		—
Net cash used in investing activities	(377,713)		—		(377,713)
Cash flows from financing activities
Proceeds from Series A issuance	33,098		—		33,098
Proceeds from common stock issuance	15,885		—		15,885
Series A equity issuance costs	(575)		—		(575)
Common stock issuance costs	(450)		—		(450)
Payments on revolving credit facility	(33,000)		—		(33,000)
Proceeds from issuance of other debt	30,599		—		30,599
Proceeds from revolving credit facility	101,000		—		101,000
Principal payments on debt	(22,377)		—		(22,377)
Contingent consideration	(1,483)		—		(1,483)
Debt issuance costs	—		—		—
Net cash provided by financing activities	122,697		—		122,697
Effect of exchange rate changes on cash and cash equivalent balances	(844)		—		(844)
Net change in cash and cash equivalents	(316,624)		—		(316,624)
Cash and cash equivalents, beginning of period	367,670				367,670
Cash and cash equivalents, end of period	$	51,046	$	—	$	51,046
Supplemental Cash Flow Information
Stock consideration paid for acquisition of STI	$	200,224	—		200,224

Consolidated Statements of Cash Flows

	Nine Months Ended September 30, 2022
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Cash flows from operating activities
Net income (loss)	$	13,542	$	(3,859)	$	9,683
Adjustments to reconcile net income (loss) to net cash provided by, (used in) operating activities:
Provision for (recovery of) bad debts	660		—		660
Deferred tax benefit	(30,928)		(5,074)		(36,002)
Depreciation and amortization	71,207		3,750		74,957
Amortization of debt discount and issuance costs	5,003		—		5,003
Equity-based compensation	11,677		—		11,677

Contingent consideration	(5,981)		—		(5,981)
Warranty provision	4,341		—		4,341
Provision for inventory obsolescence	(2,333)		—		(2,333)
Changes in operating assets and liabilities, net of business acquisition
Accounts receivable	(139,036)		—		(139,036)
Inventories	(14,273)		—		(14,273)
Income tax receivables	(3,610)		—		(3,610)
Prepaid expenses and other	11,146		5,183		16,329
Accounts payable	42,205		—		42,205
Accounts payable - related party	(132)		—		(132)
Accrued expenses and other	41,271		—		41,271
Warranty payments	(373)		—		(373)
Income tax payable	2,951		—		2,951
Lease liabilities	1,914		—		1,914
Deferred revenue	34,772		—		34,772
Net cash provided by, (used in) operating activities	44,023		—		44,023
Cash flows from investing activities
Purchase of property, plant and equipment	(6,690)		—		(6,690)
Acquisition of STI, net of cash acquired	(373,816)		—		(373,816)
Investment in equity security	—		—		—
Net cash used in investing activities	(380,506)		—		(380,506)
Cash flows from financing activities
Proceeds from Series A issuance	33,098		—		33,098
Proceeds from common stock issuance	15,885		—		15,885
Series A equity issuance costs	(1,167)		—		(1,167)
Common stock issuance costs	(450)		—		(450)
Dividends paid on Series A Preferred	(18,670)		—		(18,670)
Payments on revolving credit facility	(116,000)		—		(116,000)
Proceeds from issuance of other debt	39,219		—		39,219
Proceeds from revolving credit facility	116,000		—		116,000
Principal payments on debt	(33,286)		—		(33,286)
Contingent consideration	(1,483)		—		(1,483)
Net cash provided by financing activities	33,146		—		33,146
Effect of exchange rate changes on cash and cash equivalent balances	(1,555)		—		(1,555)
Net change in cash and cash equivalents	(304,892)		—		(304,892)
Cash and cash equivalents, beginning of period	367,670				367,670
Cash and cash equivalents, end of period	$	62,778	$	—	$	62,778
Supplemental Cash Flow Information
Stock consideration paid for acquisition of STI	$	200,224	—		200,224