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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (36,020) $ (60,938)
Adjustments to reconcile net loss to net cash from operating activities    
Depreciation and amortization 14,862 12,670
Inventory reserve expenses 6,350 7,412
Amortization of inventory fair value step up 3,047 11,636
Amortization of operating lease assets, debt costs, and other assets 1,478 1,696
Provision for expected credit losses 1,376 208
Deferred income taxes 408 379
Share-based compensation expense 8,800 13,020
Change in valuation of investment securities 314 (207)
Change in fair value of contingent consideration 1,170  
Other 944 (383)
Changes in operating assets and liabilities, net of effects of acquisitions    
Accounts receivable 813 4,792
Inventories (6,936) (16,781)
Prepaid expenses and other current assets 2,749 2,225
Accounts payable (820) (3,560)
Other current liabilities (14,856) (5,842)
Other long-term assets and liabilities (2,274) (347)
Net cash used in operating activities (18,595) (34,020)
Cash flows from investing activities    
Capital expenditures for property, plant, and equipment (10,543) (11,472)
Capital expenditures for intangible assets (274) (363)
Cash acquired in the SeaSpine merger   29,419
Other investing activities (50) (500)
Net cash provided by (used in) investing activities (10,867) 17,084
Cash flows from financing activities    
Payments related to tax withholdings for share-based compensation (1,828) (1,958)
Payments related to finance lease obligation (172) (160)
Borrowings under credit facility 40,000 45,000
Repayment of borrowings from credit facility (15,000)  
Payment of debt acquired from SeaSpine merger   (26,899)
Payment of debt issuance costs and other financing activities (1,547)  
Net cash provided by financing activities 21,453 15,983
Effect of exchange rate changes on cash (284) 221
Net change in cash and cash equivalents (8,293) (732)
Cash and cash equivalents at the beginning of period 37,757 50,700
Cash and cash equivalents at the end of period 29,464 49,968
Components of cash and cash equivalents at the end of period    
Cash and cash equivalents 26,964 49,968
Restricted cash 2,500  
Cash and cash equivalents at the end of period 29,464 $ 49,968
Noncash investing activities - Purchase of intangible assets $ 50