XML 14 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (Loss) $ (7,369) $ (22,625)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:    
Depreciation and amortization 2,084 1,948
Costs recognized on sale of acquired inventory 1,251  
Amortization of intangible assets 2,698 513
Amortization of debt financing costs 348 75
Stock-based compensation 1,951 6,929
Deferred income taxes (6,339) (209)
Change in sales returns reserve (3,209) (2,419)
Provision for obsolete inventory 2,081 (1,098)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 32,616 32,685
Inventories (11,238) 5,457
Accounts payable 11,281 7,452
Prepaid expenses and other assets (1,300) 691
Income taxes payable 192 (261)
Other liabilities (10,434) (4,928)
Net cash provided by (used for) operating activities 14,613 24,210
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (1,967) (1,252)
Acquisition of a business, net of cash acquired (77,294)  
Net cash used for investing activities (79,261) (1,252)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings on revolving credit facilities 80,288 99,785
Repayment of revolving credit facilities (56,259) (118,838)
Proceeds of term loan 50,000  
Repayment of term loan (417)  
Proceeds from exercise of stock options and warrants 2,941 1,358
Repurchase of common stock (15,207) (974)
Debt issuance costs (3,170) (80)
Net cash provided by (used for) financing activities 58,176 (18,749)
Effect of exchange rate changes on cash and cash equivalents 208 182
Net increase (decrease) in cash and cash equivalents (6,264) 4,391
Cash and cash equivalents - beginning of period 18,726 11,396
Cash and cash equivalents - end of period 12,462 15,787
SUPPLEMENTAL DISCLOSURE OF INFORMATION    
Cash paid for interest 2,224 226
Cash paid (received) for income taxes $ 159 $ (137)