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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (69,463) $ (100,364)
Adjustments to reconcile net loss to net cash from operating activities    
Depreciation and amortization 28,894 25,997
Inventory reserve expenses 13,759 17,057
Amortization of inventory fair value step up 6,094 21,085
Amortization of operating lease assets, debt costs, and other assets 2,986 3,319
Provision for expected credit losses 1,573 490
Deferred income taxes 1,180 815
Share-based compensation expense 18,759 26,266
Change in valuation of investment securities 3,992 (492)
Change in fair value of contingent consideration 4,240 (1,300)
Other 4,863 (372)
Changes in operating assets and liabilities, net of effects of acquisitions    
Accounts receivable 710 5,615
Inventories (8,571) (33,168)
Prepaid expenses and other current assets 2,717 275
Accounts payable (7,501) 1,800
Other current liabilities (9,977) (6,425)
Other long-term assets and liabilities (3,866) (134)
Net cash used in operating activities (9,611) (39,536)
Cash flows from investing activities    
Capital expenditures for property, plant, and equipment (19,887) (23,823)
Capital expenditures for intangible assets (646) (831)
Cash acquired in the SeaSpine merger   29,419
Other investing activities (50) (500)
Net cash provided by (used in) investing activities (20,583) 4,265
Cash flows from financing activities    
Proceeds from issuance of common shares 3,191 2,377
Payments related to tax withholdings for share-based compensation (3,775) (3,167)
Payments related to finance lease obligation (346) (320)
Borrowings under credit facility 40,000 51,000
Repayment of borrowings from credit facility (15,000)  
Payment of debt acquired from SeaSpine merger   (26,899)
Contingent consideration milestone payment   (920)
Payment of debt issuance costs and other financing activities (2,392) (280)
Net cash provided by financing activities 21,678 21,791
Effect of exchange rate changes on cash (375) 387
Net change in cash and cash equivalents (8,891) (13,093)
Cash, cash equivalents, and restricted cash at the beginning of period 37,757 50,700
Cash, cash equivalents, and restricted cash at the end of period 28,866 37,607
Components of cash, cash equivalents, and restricted cash at the end of period    
Cash and cash equivalents 26,366 37,607
Restricted cash 2,500  
Cash, cash equivalents, and restricted cash at the end of period 28,866 $ 37,607
Noncash investing activities - Purchase of intangible assets $ 50