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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net loss $ (7,252) $ (1,429)
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 22,335 8,921
Amortization of debt issue costs 421 598
Extinguishment of debt 3,395 0
Stock-based compensation 4,013 0
Deferred income taxes (420) (58)
Change in fair value of earnout liability 5,693 0
Gain on sale of rental equipment (1,821) (836)
Reserve for obsolete and excess inventory 1,377 578
Other changes in operating assets and liabilities 244 4
Changes in operating assets and liabilities:    
Accounts receivable (27,639) 2,047
Inventories, net (28,983) (6,562)
Prepaid expenses and other current assets (13,777) 2,137
Accounts payable (5,254) 5,628
Accrued expenses and other current liabilities 9,957 (2,060)
Other changes in operating assets and liabilities 1,832 56
Net cash (used in) provided by operating activities (39,543) 8,912
Investing activities    
Purchases of property, plant and equipment (3,410) (2,561)
Business acquisitions, net of cash acquired (113,781) (6,501)
Purchases of rental equipment (4,878) (5,799)
Proceeds from sale of rental equipment 6,783 2,772
Net cash used in investing activities (115,286) (12,089)
Financing activities    
Proceeds from revolving lines of credit 166,200 18,401
Payments on revolving lines of credit (67,687) (7,200)
Proceeds from term loans 377,552 0
Payments on term loans (307,490) (7,446)
Deferred financing costs (11,415) 0
Shares repurchased held in treasury (78) 0
Payment of financing lease principal (39) 0
Net cash provided by financing activities 157,043 3,755
Effect of exchange rate changes on cash and cash equivalents 1,181 25
Increase in cash, cash equivalents and restricted cash 3,395 603
Cash, cash equivalents and restricted cash at beginning of period 14,671 10,399
Cash, cash equivalents and restricted cash at end of period 18,066 11,002
Cash and cash equivalents 17,872 11,002
Restricted cash 194 0
Total cash, cash equivalents and restricted cash 18,066 11,002
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 6,267 425
Net cash paid for interest 10,600 8,034
Fair value of common stock exchanged for reverse acquisition 351,491 0
Settlement of related party obligations 5,276 0
Additions of property, plant and equipment included in accounts payable $ 135 $ 67