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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net (loss) income $ (113,491) $ 117,898
Adjustments to net income:    
Goodwill impairment 162,000 0
Provision for bad debts 3,415 (117)
Deferred tax benefit (7,279) (2,328)
Depreciation and amortization 29,015 30,318
Amortization of developed technology 10,918 10,918
Amortization of debt discount and issuance costs 4,652 9,123
Equity-based compensation 6,851 11,695
Change in fair value of contingent consideration (271) 2,232
Warranty provision 36 451
Write-down of inventories 2,481 4,587
Changes in operating assets and liabilities, net of business acquisition:    
Accounts receivable 41,865 (6,364)
Inventories (29,964) 12,554
Income tax receivables (4,145) 3,165
Prepaid expenses and other (45,203) (2,140)
Accounts payable 33,705 14,443
Accrued expenses and other (34,928) 18,484
Income tax payable (4,653) (730)
Lease liabilities (5,730) (8,050)
Deferred revenue 47,120 (78,165)
Net cash provided by operating activities 96,394 137,974
Investing activities    
Purchase of property, plant and equipment (5,604) (11,615)
Retirement/disposal of property, plant and equipment 38 0
Sale of equity investment 11,975 0
Net cash provided by (used in) investing activities 6,409 (11,615)
Financing activities    
Series A equity issuance costs 0 (1,509)
Tax withholding related to vesting of equity-based compensation (1,734) 0
Proceeds from issuance of other debt 19,024 60,516
Principal payments on other debt (24,879) (69,024)
Principal payments on term loan facility (3,225) (73,225)
Contingent consideration payments (1,427) (1,200)
Net cash used in financing activities (12,241) (84,442)
Effect of exchange rate changes on cash and cash equivalent balances (7,270) (1,808)
Net change in cash and cash equivalents 83,292 40,109
Cash and cash equivalents, beginning of period 249,080 133,901
Cash and cash equivalents, end of period 332,372 174,010
Supplemental cash flow information    
Cash paid for interest 29,666 36,136
Cash paid for income taxes (net of refunds) 25,220 36,797
Non-cash investing and financing activities    
Dividends accrued on Series A Preferred $ 20,914 $ 19,567