XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net income $ 13,573 $ 16,576
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,622 6,181
Amortization/write off of deferred financing costs 311 2,781
Gain on sale of asset (3,134) 0
Equity-based compensation 5,255 9,110
Provision for obsolete or slow-moving inventory 617 466
Provision for warranty expense 256 1,394
Deferred taxes 6,592 6,519
Changes in assets and liabilities:    
Accounts receivable (25,251) 14,857
Unbilled receivables 10,973 23,121
Inventory (1,539) (7,668)
Other assets (2,449) (791)
Accounts payable 6,099 1,791
Accrued expenses and other 3,937 (13,674)
Warranty liability (21,463) (8,978)
Deferred revenue 1,338 (984)
Net Cash Provided by Operating Activities 1,737 50,701
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (15,430) (4,485)
Proceeds from sale of property, plant and equipment 5,088 0
Net Cash Used in Investing Activities (10,342) (4,485)
Cash Flows from Financing Activities    
Employee withholding taxes related to net settled equity awards (279) (865)
Proceeds from revolving credit facility 30,000 148,750
Deferred financing costs 0 (2,638)
Repurchase of Class A common stock 0 (25,231)
Excise taxes on treasury stock transactions 59 0
Net Cash Used in Financing Activities (10,220) (65,734)
Net Decrease in Cash and Cash Equivalents (18,825) (19,518)
Cash and Cash Equivalents—Beginning of Period 23,511 22,707
Cash and Cash Equivalents—End of Period 4,686 3,189
Supplemental Cash Flows Information:    
Cash paid for interest 4,255 10,562
Cash paid for taxes (183) 120
Non-cash investing and financing activities:    
Purchased equipment not yet paid for 3,110 0
Term Loan Facility    
Cash Flows from Financing Activities    
Payments on term loan facility 0 (143,750)
Revolving Credit Facility    
Cash Flows from Financing Activities    
Payments on term loan facility $ (40,000) $ (42,000)