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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Cash flows from operating activities              
Net income (loss) $ 30,676   $ 36,376   $ 52,974 $ (2,735)  
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:              
Provision for (recovery of) doubtful accounts         362 (882)  
Depreciation and amortization 4,258   4,293   8,626 8,865  
Payment-in-kind interest         0 1,625  
Write-off and amortization of debt discount         776 1,325  
Write-off and amortization of debt issuance costs         597 1,181  
Share-based compensation expense 1,411 $ 870 615 $ 382 3,436 1,380  
Gain on disposal of property and equipment         (46) (67)  
Gain on loan forgiveness 0   (6,206)   0 (6,206)  
Loss on debt extinguishment 0   0   0 7,351  
Intangibles impairment 0   0   300 0 $ 0
Deferred income taxes         2 0  
Change in fair value of convertible senior notes 0   3,651   0 16,495  
Change in fair value of preferred stock derivative liability 7,449   99   2,065 9,013  
Changes in operating assets and liabilities:              
Accounts receivable         (57,824) (106,054)  
Inventory         (25,217) (51,154)  
Prepaid expenses and other assets         (7) 5,830  
Accounts payable         24,666 46,459  
Accounts payable - Meisheng (related party)         12,687 17,350  
Accrued expenses         26,652 18,876  
Reserve for sales returns and allowances         12,931 5,583  
Income taxes payable         12,931 (581)  
Other liabilities         (650) (596)  
Total adjustments         22,287 (24,207)  
Net cash provided by (used in) operating activities         75,261 (26,942)  
Cash flows from investing activities              
Purchases of property and equipment         (8,089) (6,375)  
Proceeds from sale of property and equipment         2 32  
Net cash used in investing activities         (8,087) (6,343)  
Cash flows from financing activities              
Repurchase of common stock for employee tax withholding         (1,283) (164)  
Repayment of credit facility borrowings         (13,000) 0  
Proceeds from credit facility borrowings         13,000 0  
Repayment of 2021 BSP Term Loan         (28,985) (248)  
Net proceeds from issuance of long-term debt         0 96,306  
Deferred issuance costs         0 (2,629)  
Repayment of 2019 Recap Term Loan         0 (125,805)  
Net cash used in financing activities         (30,268) (32,540)  
Net increase (decrease) in cash, cash equivalents and restricted cash         36,906 (65,825)  
Effect of foreign currency translation         (5,642) (163)  
Cash, cash equivalents and restricted cash, beginning of period   $ 45,332   $ 92,693 45,332 92,693 92,693
Cash, cash equivalents and restricted cash, end of period 76,596   26,705   76,596 26,705 $ 45,332
Supplemental disclosures of non-cash financing activities:              
Forgiveness of Paycheck Protection Program Loan $ 0   $ 6,206   0 6,206  
Supplemental disclosures of cash flow information:              
Cash paid for income taxes, net         1,080 1,155  
Cash paid for interest         $ 6,862 $ 11,462