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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 60,008 $ 27,863
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for bad debts 1,910 1,696
Deferred tax benefit (246) (3,501)
Depreciation and amortization 12,188 19,456
Amortization of developed technology 7,279 7,279
Amortization of debt discount and issuance costs 3,457 3,101
Gain on extinguishment of debts, net (14,207) 0
Equity-based compensation 6,696 4,836
Change in fair value of contingent consideration 0 (232)
Warranty provision 5,336 (61)
Inventory reserve 2,682 1,227
Loss on disposal of fixed assets 10 0
Changes in working capital, net (54,331) (10,205)
Net cash provided by operating activities 30,782 51,459
Investing activities    
Purchase of property, plant and equipment (8,983) (4,527)
Retirement/disposal of property, plant and equipment 0 39
Net cash used in investing activities (8,983) (4,488)
Financing activities    
Proceeds from issuance of other debt 57,064 12,684
Proceeds from issuance of convertible notes 345,000 0
Premium paid on capped call (35,087) 0
Fees paid on issuance of convertible notes (10,434) 0
Repayments of other debt (54,754) (12,671)
Repayments of term loan facility (233,875) (2,150)
Repayments of convertible notes (78,363) 0
Contingent consideration payments (1,204) (1,427)
Other financing (1,123) (580)
Net cash used in financing activities (12,776) (4,144)
Effect of exchange rate changes on cash and cash equivalent balances 5,606 (9,587)
Net change in cash and cash equivalents and restricted cash 14,629 33,240
Cash and cash equivalents, and restricted cash beginning of period 364,141 249,080
Cash and cash equivalents and restricted cash, end of period $ 378,770 $ 282,320