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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income (loss) $ 26,132 $ (25,937)
Adjustments to net income (loss):    
Provision for bad debts 233 145
Deferred tax expense 4,555 4,349
Depreciation and amortization 14,533 23,608
Amortization of debt discount and issuance costs 2,826 1,710
Equity-based compensation 3,366 4,508
Contingent consideration 1,338 (3,731)
Warranty provision 436 594
Write-down of inventories 1,847 409
Change in fair value of derivative assets 1,950 0
Changes in operating assets and liabilities, net of business acquisition    
Accounts receivable 6,238 (44,268)
Inventories (23,312) (46,250)
Income tax receivables 369 (21,924)
Prepaid expenses and other (6,947) 11,558
Accounts payable 30,155 59,419
Accrued expenses and other 3,900 7,027
Income tax payable 4,952 (8,760)
Lease liabilities 824 6,085
Deferred revenue (27,579) (18,639)
Net cash provided by (used in) operating activities 45,816 (50,097)
Investing activities:    
Purchase of property, plant and equipment (3,883) (2,357)
Acquisition of STI, net of cash acquired 0 (373,816)
Net cash used in investing activities (3,883) (376,173)
Financing activities:    
Proceeds from Series A issuance 0 33,098
Proceeds from common stock issuance 0 15,885
Series A equity issuance costs (750) (175)
Common stock issuance costs 0 (450)
Proceeds from revolving credit facility 0 52,000
Proceeds from issuance of other debt 6,469 6,229
Principal payments on term loan facility (11,075) (4,368)
Principal payments on other debt (17,206) 0
Contingent consideration payments (1,200) (1,483)
Net cash provided by (used in) financing activities (23,762) 100,736
Effect of exchange rate changes on cash and cash equivalent balances (4,316) 7,355
Net change in cash and cash equivalents 13,855 (318,179)
Cash and cash equivalents, beginning of period 133,901 367,670
Cash and cash equivalents, end of period 147,756 49,491
Supplemental Cash Flow Information    
Cash paid for interest 7,980 3,039
Cash paid for income taxes 2,522 0
Non-cash Investing and Financing Activities    
Dividends accrued on Series A Preferred 6,350 6,189
Stock consideration paid for acquisition of STI $ 0 $ 200,224