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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:      
Net income $ 60,658 $ 87,566 $ 44,702
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 2,218 4,567 5,173
Stock-based compensation expense   4,020 784
Amortization of deferred finance costs   1,252 774
Change in fair value of earnout consideration liability (14,934) (19,041) 0
Revaluation of warrant liability (19,465) (18,041) 0
Change in fair value of derivative liability (187) 61 0
Deferred tax expense   3,094 0
Changes in assets and liabilities      
Accounts receivable   (17,282) (20,542)
Inventories   (2,938) (192)
Prepaid expenses and other assets   (1,144) (515)
Deposits and other assets   0 (3,681)
Accounts payable   (201) (1,600)
Accrued expenses   10,262 2,124
Other liabilities   (784) 180
Net cash provided by operating activities   51,391 27,207
Cash flows from investing activities:      
Purchase of property and equipment   (3,504) (1,251)
Net cash used in investing activities   (3,504) (1,251)
Cash flows from financing activities:      
Proceeds from line of credit   10,000 0
Payment of line of credit   0 (5,000)
Payment of term loan (13,753) (16,878) (12,000)
Distributions   (25,729) (14,603)
Payment of issuance costs related to business combination   (23,833) 0
Net cash used in financing activities   (56,440) (31,603)
Net decrease in cash and cash equivalents   (8,553) (5,647)
Cash and cash equivalents, beginning of period   21,944 13,422
Cash and cash equivalents, end of period $ 13,391 13,391 7,775
Supplementary disclosure of cash flow information:      
Cash paid for interest expense   9,638 5,136
Supplemental disclosure of non-cash financing activities:      
Derivative asset - interest rate swap   $ 5,590 $ 0