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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 16,746 $ 2,165
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for bad debts 1,671 896
Deferred tax expense (benefit) 1,024 (13)
Depreciation and amortization 5,932 10,125
Amortization of developed technology 3,639 3,639
Amortization of debt discount and issuance costs 1,506 1,553
Equity-based compensation 2,798 3,926
Change in fair value of contingent consideration (150) (735)
Warranty provision 1,720 (1,138)
Inventory reserve 839 600
Changes in working capital, net (48,784) 26,484
Net cash provided by (used in) operating activities (13,059) 47,502
Investing activities    
Purchase of property, plant and equipment (2,352) (2,396)
Retirement/disposal of property, plant and equipment 0 10
Net cash used in investing activities (2,352) (2,386)
Financing activities    
Proceeds from issuance of other debt 7,862 2,283
Principal payments on other debt (7,294) (3,781)
Principal payments on term loan facility (1,075) (1,070)
Contingent consideration payments (1,204) (1,427)
Other financing (14) (580)
Net cash used in financing activities (1,725) (4,575)
Effect of exchange rate changes on cash and cash equivalent balances 2,488 (2,001)
Net change in cash and cash equivalents and restricted cash (14,648) 38,540
Cash and cash equivalents, and restricted cash beginning of period 364,141 249,080
Cash and cash equivalents and restricted cash, end of period $ 349,493 $ 287,620