XML 18 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income (loss) $ (5,224) $ 5,907
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 17,052 15,722
Amortization of debt issuance costs 660 469
Stock-based compensation 2,198 2,204
Deferred income taxes 1,159 612
Change in fair value of earnout liabilities (5) 57
Gain on sale of rental equipment (432) (889)
Loss on sale of property, plant and equipment (5) 151
Net realizable value adjustment and write-offs for obsolete and excess inventory 1,605 2,158
Bad debt expense (333) 253
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (6,560) (6,015)
Inventories 1,048 (7,243)
Prepaid expenses and other current assets (6,813) (2,941)
Accounts payable 3,454 11,183
Accrued expenses and other current liabilities (1,488) (8,698)
Other changes in operating assets and liabilities 299 928
Net cash provided by (used in) operating activities 6,615 13,858
Investing activities    
Purchases of property, plant and equipment (2,454) (4,490)
Business acquisitions, net of cash acquired (13,145) 0
Purchases of rental equipment (1,221) (2,420)
Proceeds from sale of rental equipment 812 1,816
Net cash provided by (used in) investing activities (16,008) (5,094)
Financing activities    
Proceeds from revolving lines of credit 8,858 93,953
Payments on revolving lines of credit (11,611) (87,607)
Payments on term loans (625) (7,500)
Shares repurchased held in treasury (449) (117)
Payment of financing lease principal (124) (123)
Payment of earnout 0 (1,000)
Net cash provided by (used in) financing activities (3,951) (2,394)
Effect of exchange rate changes on cash and cash equivalents (680) 222
Increase (decrease) in cash, cash equivalents and restricted cash (14,024) 6,592
Cash, cash equivalents and restricted cash at beginning of period 99,626 24,740
Cash, cash equivalents and restricted cash at end of period 85,602 31,332
Cash and cash equivalents 73,097 31,144
Restricted cash 12,505 188
Total cash, cash equivalents and restricted cash 85,602 31,332
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 1,702 1,015
Net cash paid for interest 9,269 7,308
Net cash paid for interest on supply chain financing 572 572
Non-cash activities:    
Right of use assets obtained in exchange for finance lease liabilities 383 383
Right of use assets obtained in exchange for operating lease liabilities $ 6,212 $ 2,496