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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net income (loss) $ 9,289 $ (204)
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 31,314 13,649
Amortization of debt issue costs 1,419 899
Extinguishment of debt 3,395 0
Stock-based compensation 445 0
Change in fair value of earnout liability (3,948) 0
Gain on sale of rental equipment (2,463) (1,918)
Charge for step-up of acquired inventory 2,703 0
Net realizable value and reserve adjustment for obsolete and excess inventory 5,551 (585)
Other changes in operating assets and liabilities 564 1,136
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (30,795) 5,740
Inventories, net (43,857) 2,770
Prepaid expenses and other current assets (2,224) (953)
Accounts payable 1,687 (6,857)
Accrued expenses and other current liabilities 1,316 982
Other changes in operating assets and liabilities (6,324) (2,478)
Net cash provided by (used in) operating activities (19,280) 17,137
Investing activities    
Purchases of property, plant and equipment (4,954) (2,907)
Business acquisitions, net of cash acquired (113,681) (19,721)
Purchases of rental equipment (7,913) (8,246)
Proceeds from sale of rental equipment 5,998 3,899
Net cash provided by (used in) investing activities (120,550) (26,975)
Financing activities    
Proceeds from revolving lines of credit 302,044 20,500
Payments on revolving lines of credit (237,370) (11,200)
Proceeds from term loans 445,630 0
Payments on term loans (343,662) (7,321)
Deferred financing costs (11,956) 0
Capital contribution 0 9,233
Repurchase of common stock (1,940) 0
Shares repurchased held in treasury 469 0
Payment of financing lease principal (457) 0
Net cash provided by (used in) financing activities 151,820 11,212
Effect of exchange rate changes on cash and cash equivalents (1,309) 188
Increase (decrease) in cash, cash equivalents and restricted cash 10,681 1,562
Cash, cash equivalents and restricted cash at beginning of period 14,671 10,399
Cash, cash equivalents and restricted cash at end of period 25,352 11,961
Cash and cash equivalents 25,171 11,961
Restricted cash 181 0
Total cash, cash equivalents and restricted cash 25,352 11,961
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 11,553 510
Net cash paid for interest 12,093 11,727
Fair value of common stock exchanged for reverse acquisition 351,491 0
Settlement of related party obligations $ 5,276 $ 0