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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income $ 9,935 $ 4,217
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 11  
Equity in loss of unconsolidated affiliate   343
Depreciation and amortization 415 276
Noncash lease expense 109 82
Amortization of land use rights 10 10
Deferred income taxes, net (313) (328)
Bad debt expense and other non-cash items (7) (63)
Accrued interest on certificates of deposit (234) (74)
Change in fair value of long-term receivable (58)  
Change in fair value of derivative liabilities 58  
Change in fair value of warrant liability (4,288)  
Loss on disposal of property and equipment 3  
Changes in operating assets and liabilities:    
Accounts and note receivables 1 3,915
Inventories (666) 525
Prepaid and other assets (1,524) (678)
Income tax payable 1,423 1,919
Accounts payable (23) 156
Other noncurrent liabilities (4) (808)
Due to related parties (6) (1)
Accrued expenses and other liabilities (1,839) 1,028
Operating lease liabilities (119) (102)
Net cash provided by operating activities 2,884 10,417
Investing Activities    
Acquisition of intangible assets   (65)
Purchase of certificates of deposit (7,039) (5,841)
Purchase of property and equipment (231) (1,742)
Proceeds from sale of equipment 50  
Net cash used in investing activities (7,220) (7,648)
Financing Activities    
Proceeds from the exercise of stock options 658  
Net cash provided by financing activities 658  
Effect of exchange rate changes on cash and cash equivalents (46) 200
Net (decrease) increase in cash and cash equivalents (3,724) 2,969
Cash and cash equivalents at beginning of the period 33,509 25,175
Cash and cash equivalents at end of the period 29,785 28,144
Supplemental Disclosure of Non-Cash Financing and Investing Activities:    
Convertible preferred stock conversion 64,525  
Non-cash acquisition of property and equipment through prepaid conversion 453 252
Supplemental Disclosure of Cash Flow Information:    
Cash paid for income taxes $ 1,436 $ 463