XML 16 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Net loss $ (10.9) $ (8.1)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 15.1 18.8
Amortization of deferred financing costs 0.3 0.7
Loss on disposal of property, plant, and equipment 0.0 0.4
Deferred income taxes (1.1) 0.2
Amortization of initial value of interest rate swap 0.0 (0.7)
Foreign currency gain (2.6) (1.4)
Stock-based compensation expense 2.1 1.3
Provision for common stock warrants 0.8 0.0
Amortization of cloud-based software implementation costs 0.9 0.9
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 2.3 (2.3)
Increase in inventories (13.3) (2.2)
Increase in income tax receivable (1.1) (3.9)
Increase in prepaid expenses and other current assets (2.4) (0.9)
Increase in accounts payable 8.9 3.4
Increase in accrued liabilities and other 1.6 1.3
Change in other assets and liabilities (1.9) (2.3)
Net cash provided by (used in) operating activities (1.3) 5.2
Cash Flows from Investing Activities    
Purchases of converter equipment (7.3) (7.5)
Purchases of other property, plant, and equipment (0.2) (2.3)
Cash paid for strategic investments 0.0 (0.5)
Net cash used in investing activities (7.5) (10.3)
Cash Flows from Financing Activities    
Principal payments on term loans (1.0) (0.4)
Payments on equipment financing (0.1) (0.2)
Payments on finance lease liabilities (0.5) (0.3)
Tax payments for withholdings on stock-based awards distributed (1.2) (0.4)
Net cash used in financing activities (2.8) (1.3)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 1.0 (0.5)
Net Decrease in Cash and Cash Equivalents (10.6) (6.9)
Cash and Cash Equivalents, beginning of period 76.1 62.0
Cash and Cash Equivalents, end of period $ 65.5 $ 55.1