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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (5,318) $ (3,909)
Adjustments to reconcile net loss to net cash used in operating activities:    
Provision for (recovery of) credit losses 380 (39)
Depreciation and amortization 1,191 1,812
Write-off and amortization of debt discount 692 94
Write-off and amortization of debt issuance costs 399 123
Share-based compensation expense 2,089 870
Gain on disposal of property and equipment (18) 0
Change in fair value of preferred stock derivative liability (147) 645
Changes in operating assets and liabilities:    
Accounts receivable 17,220 43,703
Inventory 16,631 (1,352)
Prepaid expenses and other assets (6,515) (6,540)
Accounts payable (4,704) (14,328)
Accounts payable - Meisheng (related party) (2,073) (389)
Accrued expenses (10,992) (16,475)
Reserve for sales returns and allowances (10,813) (6,910)
Income taxes payable (1,912) 201
Other liabilities (226) (242)
Total adjustments 1,202 1,173
Net cash used in operating activities (4,116) (2,736)
Cash flows from investing activities    
Purchases of property and equipment (3,490) (1,817)
Proceeds from sale of property and equipment 18 0
Net cash used in investing activities (3,472) (1,817)
Cash flows from financing activities    
Repurchase of common stock for employee tax withholding (1,214) (644)
Repayment of credit facility borrowings 0 (13,000)
Proceeds from credit facility borrowings 0 13,000
Repayment of 2021 BSP Term Loan (38,719) (248)
Net cash used in financing activities (39,933) (892)
Net decrease in cash, cash equivalents and restricted cash (47,521) (5,445)
Effect of foreign currency translation 332 (662)
Cash, cash equivalents and restricted cash, beginning of period 85,490 45,332
Cash, cash equivalents and restricted cash, end of period 38,301 39,225
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net 550 220
Cash paid for interest $ 1,906 $ 1,967