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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (19,170) $ (7,784) $ (139)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation of property, plant and equipment 4,993 3,926 3,639
Amortization of intangible assets 143 111 149
Amortization of right-of-use assets 1,457 1,173 1,183
Bad debt expense 150 2,794 1,508
Change in fair value of derivatives (4,733)
Share-based compensation 125
Deferred income taxes (4,286) (2,585) (1,876)
Changes in operating assets and liabilities:      
Accounts receivable (4,646) (4,370) 3,289
Other receivables (26,079) (15,602) 315
Prepaid expenses and other current assets (4,588) 9,929 (3,349)
Inventories 6,330 (9,825) (11,681)
Other assets, noncurrent (2,227)
Accounts payable 5,252 2,325 (4,045)
Lease liabilities (776) (1,531) (353)
Other payables and liabilities (9,514) (4,609) (122)
Net cash used in operating activities (57,569) (26,048) (11,482)
Cash flows from investing activities:      
Acquisition of businesses, net of cash acquired (8,639)
Purchase of equity method investment (385)
Advances to related parties (511)
Purchases of property, plant, and equipment (4,533) (4,833) (657)
Sales of property, plant, and equipment 765 488 236
Additions to intangible assets (262) (634) (278)
Net cash used in investing activities (4,030) (14,514) (699)
Cash flows from financing activities:      
Cash acquired in merger and recapitalization 13,966
Proceeds from forward share purchase agreement 6,719
Proceeds from convertible bonds issued 11,000 500
Proceeds from exercise of warrants 446
Transaction costs (3,104)
Stockholder loans (100) 5,415
Borrowings on financial debt 193,013 163,993 108,301
Repayments on financial debt (146,949) (127,154) (89,535)
Net cash provided by financing activities 74,991 42,754 18,766
Effect of exchange rate changes on cash and cash equivalents (2,958) (482) (2,896)
Net increase in cash and cash equivalents 10,434 1,710 3,689
Cash and cash equivalents, beginning of year 14,393 12,683 8,994
Cash and cash equivalents, end of year 24,827 14,393 12,683
Non-cash investing and financing activities:      
Forward share purchase agreements 4,685
Contingent consideration liability 1,308    
Conversion of convertible bonds into ordinary shares 11,797
Consideration and accrued interest paid to selling stockholder in ordinary shares 12,398
Issuance of shares to stockholder to extinguish debt 119,996
Transfer of related party debt 1,339
Fixed assets contributed from related party 168
Consolidation of variable interest entities related to business acquisitions 7,608 446
Supplemental cash flow disclosures:      
Interest paid 11,343 9,202 6,847
Net income taxes paid $ 2,228 $ 2,495 $ 1,904