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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net loss $ (125,997) $ (151,395) $ (19,749)
Adjustments to reconcile net loss to net cash from operating activities      
Depreciation and amortization 60,061 53,063 29,019
Inventory reserve expenses 26,254 27,576 14,907
Amortization of inventory fair value step up 12,188 36,044  
Amortization of operating lease assets, debt costs, and other assets 15,901 7,498 3,056
Provision for expected credit losses 1,999 820 2,095
Deferred income taxes 1,883 579 314
Share-based compensation expense 32,455 35,707 18,443
Loss on disposal of fixed assets 2,025 2,300 2,072
Interest and (gain) loss on the valuation of investment securities 7,528 596 (308)
Change in fair value of contingent consideration 6,900 (2,700) (17,200)
Other 3,844 (1,877) (45)
Changes in operating assets and liabilities, net of effects of acquisitions      
Accounts receivable (9,526) (10,411) (6,735)
Inventories (5,546) (58,051) (33,040)
Prepaid expenses and other current assets 593 1,760 (874)
Accounts payable (5,571) 8,642 2,282
Other current liabilities 9,527 4,069 627
Contract liability     (4,791)
Other long-term assets and liabilities (8,728) 27 (1,611)
Net cash provided by (used in) operating activities 25,790 (45,753) (11,538)
Cash flows from investing activities      
Capital expenditures (34,876) (62,050) (23,160)
Contingent consideration payments related to asset acquisitions     (1,500)
Cash acquired in SeaSpine merger   29,419  
Sale of investment securities 7,396   126
Other investing activities (100) (500)  
Net cash used in investing activities (27,580) (33,131) (24,534)
Cash flows from financing activities      
Proceeds from credit facilities 197,600 174,500  
Repayment of borrowings from credit facilities (142,500) (79,000)  
Payment of debt acquired from SeaSpine merger   (26,899)  
Proceeds from issuance of common shares 6,257 5,127 4,337
Payments related to withholdings for share-based compensation (5,312) (4,397) (1,729)
Payment of contingent consideration (1,000) (1,000)  
Payments related to finance lease obligation (706) (652) (2,594)
Payment of debt issuance costs and other financing activities (3,630) (2,357) (92)
Net cash provided by (used in) financing activities 50,709 65,322 (78)
Effect of exchange rate changes on cash and restricted cash (938) 619 (997)
Net change in cash, cash equivalents, and restricted cash 47,981 (12,943) (37,147)
Cash, cash equivalents, and restricted cash at the beginning of the year 37,757 50,700 87,847
Cash, cash equivalents, and restricted cash at the end of the year 85,738 37,757 50,700
Components of cash, cash equivalents, and restricted cash at the end of the year      
Cash and cash equivalents 83,238 33,107 50,700
Restricted cash 2,500 4,650  
Cash, cash equivalents, and restricted cash at the end of the year $ 85,738 $ 37,757 $ 50,700