XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (13,364) $ (3,359)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation, amortization, depletion and accretion 4,565 3,094
Gain on sale of Marshall Mine, LLC (2,695) 0
Operating lease expense 1,449 1,300
Stock-based compensation expense 1,108 948
Earnings from equity method investments (1,100) (3,222)
Amortization of debt discount and debt issuance costs 244 0
Other non-cash items, net 3 483
Changes in operating assets and liabilities:    
Receivables and related party receivables 3,622 2,444
Prepaid expenses and other assets 2,213 (779)
Inventories, net (4,946) (4,079)
Other long-term assets, net (2,886) 2,942
Accounts payable and accrued expenses (10,114) (2,509)
Other current liabilities 83 (450)
Operating lease liabilities 398 1,999
Other long-term liabilities 261 649
Distributions from equity method investees, return on investment 0 2,297
Net cash (used in) provided by operating activities (21,159) 1,758
Cash flows from investing activities    
Acquisition of property, plant, equipment, and intangible assets, net (10,383) (2,889)
Cash and restricted cash acquired in business acquisition 2,225 0
Payment for disposal of Marshall Mine, LLC (2,177) 0
Acquisition of mine development costs (1,247) (326)
Distributions from equity method investees in excess of cumulative earnings 1,100 3,316
Proceeds from sale of property and equipment 0 1,204
Net cash (used in) provided by investing activities (10,482) 1,305
Cash flows from financing activities    
Net proceeds from common stock issuance 15,220 0
Net proceeds from Term Loan, related party, net of discount and issuance costs 8,522 0
Principal payments on finance lease obligations (577) (594)
Principal payments on Arq Loan (213) 0
Repurchase of common stock to satisfy tax withholdings (160) (385)
Dividends paid on common stock 0 (45)
Net cash provided by (used) in financing activities 22,792 (1,024)
(Decrease) increase in Cash and Restricted Cash (8,849) 2,039
Cash and Restricted Cash, beginning of period 76,432 88,780
Cash and Restricted Cash, end of period 67,583 90,819
Supplemental disclosure of non-cash investing and financing activities:    
Equity issued as consideration for acquisition of business 31,206 0
Change in accrued purchases for property and equipment 328 173
Paid-in-kind dividend on Series A Preferred Stock 157 0
Acquisition of property and equipment under finance lease $ 0 $ 1,641