XML 21 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated statements of cash flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net loss $ (135,326) $ (18,876)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation expense 16,896 10,799
Amortization of intangible assets 36,821 23,929
Impairment of intangible assets 119,123 0
Stock-based compensation expense 7,137 4,571
Inventory write downs 2,716 2,784
Provision for doubtful accounts 389 1,527
Deferred income taxes (17,574) (204)
Loss on extinguishment of debt 2,854 0
Gain on sale-leaseback transactions (4,860) 0
Other 6,441 5,116
Changes in operating assets and liabilities    
Accounts receivable—trade 13,590 6,678
Inventories 41,467 (31,928)
Prepaid expenses and other current assets 8,132 2,686
Cost and estimated profits in excess of billings 1,615 2,144
Accounts payable, deferred revenue and other accrued liabilities (7,668) (4,894)
Billings in excess of costs and profits recognized 438 3,851
Net cash provided by operating activities 92,191 8,183
Cash flows from investing activities    
Capital expenditures for property and equipment (8,145) (7,944)
Proceeds from sale of property and equipment 703 1,371
Acquisition of businesses, net of cash acquired (150,408) 0
Proceeds from sale-leaseback transactions 20,324 0
Net cash used in investing activities (137,526) (6,573)
Cash flows from financing activities    
Borrowings on revolving Credit Facility 714,643 451,738
Repayments on revolving Credit Facility (624,250) (451,738)
Proceeds from issuance of 2029 Bonds 100,000 0
Payments of 2025 Notes (134,208) 0
Proceeds from issuance of Seller Term Loan 59,677 0
Payments of Seller Term Loan (59,677) 0
Payment of capital lease obligations (1,319) (1,275)
Repurchases of stock 0 (5,996)
Payments of withheld taxes on stock-based compensation plans (1,090) 0
Deferred financing costs (8,534) (311)
Net cash provided by (used in) financing activities 45,242 (7,582)
Effect of exchange rate changes on cash (1,411) 1,108
Net decrease in cash, cash equivalents and restricted cash (1,504) (4,864)
Cash, cash equivalents and restricted cash at beginning of period 46,165 51,029
Cash, cash equivalents and restricted cash at end of period 44,661 46,165
Supplemental cash flow disclosures    
Cash paid for interest 26,764 17,088
Cash paid for income taxes 23,119 8,804
Noncash investing and financing activities    
Operating lease assets obtained in exchange for lease obligations 26,205 7,535
Finance lease assets obtained in exchange for lease obligations 2,098 2,108
Accrued purchases of property and equipment 1,345 6
Stock issued related to business acquisition 44,220 0
Liability awards converted to shares settled $ 337 $ 0