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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 03, 2021
Jun. 27, 2020
Cash flows from operating activities:    
Net (loss) income $ (45,065) $ 963
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 15,670 11,609
Amortization of deferred financing costs and discounts 5,698 1,325
Stock-based compensation expense 76,975 464
Other non-cash 1,041 791
Earnings from equity method investment (998)  
Distributions received from equity method investment 998  
Changes in operating assets and liabilities:    
Trade receivables (44,472) (25,688)
Inventories (9,455) (792)
Prepaid expenses and other current assets (3,680) 871
Income tax receivable (75) (115)
Other assets 830  
Accounts payable 11,007 10,659
Accrued expenses and other current liabilities 5,580 9,513
Other long-term liabilities 113 639
Net cash provided by operating activities 14,167 10,239
Cash flows from investing activities:    
Purchases of property and equipment (12,967) (6,205)
Proceeds (costs) from sale of equipment 16  
Return of equity method investment 108  
Net cash used in investing activities (12,843) (6,205)
Cash flows from financing activities:    
Proceeds from borrowings on the term loan 172,813  
Payments on term loan borrowings (161,275) (4,425)
Proceeds from borrowings on the revolving credit facility 16,000 5,000
Payments on revolving credit facility borrowings (16,000) (5,000)
Deferred financing fees paid (1,250)  
Distributions to parent (29)  
Dividend to parent (110,033)  
Proceeds from initial public offering, net of underwriting discounts and commissions 399,264  
Repurchase of common stock (281,638) (576)
Net cash provided (used in) by financing activities 17,852 (5,001)
Effect of exchange rate changes on cash (1,969) 1,857
Net increase (decrease) in cash 17,207 890
Cash at beginning of period 59,310 56,655
Cash at end of period 76,517 57,545
Supplemental cash flow information:    
Cash paid for interest 10,267 10,237
Income taxes paid, net 6,751 131
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued expenses 530 $ 173
Capitalized internal-use software included in accounts payable - related party $ 1,350