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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income (loss) $ 5,907 $ (2,537)
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 15,722 7,589
Amortization of debt issue costs 469 655
Extinguishment of debt 0 581
Stock-based compensation 2,204 0
Deferred income taxes 612 0
Change in fair value of earnout liability 57 0
Gain on sale of rental equipment (889) (736)
Loss on sale of property, plant and equipment 151 0
Net realizable value and reserve adjustment for obsolete and excess inventory 2,158 636
Other changes in operating assets and liabilities 253 50
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (6,015) (12,534)
Inventories (7,243) (12,126)
Prepaid expenses and other current assets (2,941) (110)
Accounts payable 11,183 7,097
Accrued expenses and other current liabilities (8,698) (2,252)
Other changes in operating assets and liabilities 928 155
Net cash provided by (used in) operating activities 13,858 (13,532)
Investing activities    
Purchases of property, plant and equipment (4,490) (410)
Business acquisitions, net of cash acquired 0 (56,429)
Purchases of rental equipment (2,420) (2,657)
Proceeds from sale of rental equipment 1,816 1,923
Net cash provided by (used in) investing activities (5,094) (57,573)
Financing activities    
Proceeds from revolving lines of credit 93,953 34,277
Payments on revolving lines of credit (87,607) (46,064)
Proceeds from term loans 0 145,630
Payments on term loans (7,500) (57,036)
Deferred financing costs 0 (7,939)
Shares repurchased held in treasury 117 0
Payment of financing lease principal (123) (73)
Payment of earnout (1,000) 0
Net cash provided by (used in) financing activities (2,394) 68,795
Effect of exchange rate changes on cash and cash equivalents 222 (7)
Increase (decrease) in cash, cash equivalents and restricted cash 6,592 (2,317)
Cash, cash equivalents and restricted cash at beginning of period 24,740 14,671
Cash, cash equivalents and restricted cash at end of period 31,332 12,354
Cash and cash equivalents 31,144 12,354
Restricted cash 188 0
Total cash, cash equivalents and restricted cash 31,332 12,354
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 1,015 307
Net cash paid for interest 7,308 2,582
Additions of assets under a finance lease liability 383 0
Additions of assets under an operating lease liability $ 2,496 $ 1,202