XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income (loss) $ (8,959) $ 864
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Provision for credit losses 1,509 187
Depreciation and amortization 3,648 3,584
Write-off and amortization of debt discount 0 714
Write-off and amortization of debt issuance costs 158 488
Share-based compensation expense 5,094 3,945
Loss on disposal of property and equipment 118 4
Loss on debt extinguishment 0 1,023
Change in fair value of preferred stock derivative liability 0 5,875
Changes in operating assets and liabilities:    
Accounts receivable (17,718) (29,895)
Inventory 1,320 15,560
Prepaid expenses and other assets (18,449) (4,916)
Accounts payable 12,520 23,586
Accounts payable - Meisheng (related party) 6,254 8,176
Accrued expenses (565) 8,450
Reserve for sales returns and allowances (9,075) (14,026)
Income taxes payable (3,589) (2,315)
Other liabilities 68 (499)
Total adjustments (18,707) 19,941
Net cash provided by (used in) operating activities (27,666) 20,805
Cash flows from investing activities    
Purchases of property and equipment (4,627) (4,918)
Investments in employee deferred compensation trusts (1,549) 0
Proceeds from sale of property and equipment 2 25
Net cash used in investing activities (6,174) (4,893)
Cash flows from financing activities    
Repurchase of common stock for employee tax withholding (5,131) (1,214)
Repayment of credit facility borrowings 0 (10,000)
Proceeds from credit facility borrowings 5,000 10,000
Redemption of preferred stock (20,000) 0
Repayment of 2021 BSP Term Loan 0 (69,218)
Net cash used in financing activities (20,131) (70,432)
Net decrease in cash, cash equivalents and restricted cash (53,971) (54,520)
Effect of foreign currency translation (681) 1,461
Cash, cash equivalents and restricted cash, beginning of period 72,554 85,490
Cash, cash equivalents and restricted cash, end of period 17,902 32,431
Supplemental disclosures of non-cash activities:    
Right-of-use assets exchanged for lease liabilities 3,690 121
Supplemental disclosures of cash flow information:    
Cash paid for interest 104 2,854
Cash paid for income taxes, net $ 13,093 $ 2,444