Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income (loss) $ 4,052 $ (8,330)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation 3,214 4,464
Depreciation 2,916 2,120
Amortization of intangible assets 9,369 8,857
Deferred income taxes (1,857) 808
Amortization of inventory fair value adjustments (2,537) 1,727
Non-cash loss on extinguishment of debt 0 4,435
Change in fair value of warrant liabilities (1,054) 2,603
Changes in current assets and liabilities:    
Accounts receivable (4,785) (4,891)
Inventories (16,800) (8,142)
Prepaid expenses and other current assets (1,017) 762
Accounts payable, accrued liabilities and income taxes (1,741) (14,895)
Other, net (1,783) 1,028
Net cash used in operating activities (12,023) (9,454)
Investing activities    
Capital expenditures (4,440) (4,624)
Acquisitions, net of cash acquired 0 (186,601)
Proceeds from the sale of fixed assets 50 4,257
Net cash used in investing activities (4,390) (186,968)
Financing activities    
Proceeds from revolving credit facility 50,000 25,000
Repayments of revolving credit facility 0 (47,855)
Long-term borrowings 0 375,000
Repayments of long-term borrowings (1,875) (137,438)
Debt issuance costs (672) (11,589)
Payment of contingent consideration (29,108) 0
Tax withholdings related to net share settlements of stock awards (862) 0
Net cash provided by financing activities 17,483 203,118
Effect of exchange rate changes on cash and cash equivalents (1,745) 460
Net change in cash and cash equivalents (675) 7,156
Cash and cash equivalents, beginning of period 28,296 16,898
Cash and cash equivalents, end of period 27,621 24,054
Supplemental disclosure of cash flow information    
Interest paid 11,511 10,037
Taxes paid, net of refunds 5,757 4,364
Supplemental disclosure of non-cash investing    
Non-cash capital expenditures $ 0 $ 3,554