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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income $ 34,200 $ 38,113 $ 91,083
Provision for doubtful accounts 1,397 726 233
Depreciation and amortization 10,046 8,585 10,578
Write-off and amortization of debt discount 0 714 845
Write-off and amortization of debt issuance costs 317 647 708
Share-based compensation expense 9,535 8,027 5,082
Loss (gain) on disposal of property and equipment 115 (40) (46)
Intangibles impairment 0 0 300
Loss on debt extinguishment 0 1,023 0
Deferred income taxes (2,251) (10,339) (57,855)
Change in fair value of preferred stock derivative liability 0 8,029 636
Changes in operating assets and liabilities:      
Accounts receivable (9,229) (21,752) 44,390
Inventory (133) 27,972 3,335
Prepaid expenses and other assets (6,086) (12) 4,753
Account payable 508 9,595 (18,056)
Account payable - Meisheng (related party) 1,117 1,918 (5,411)
Accrued expenses 2,867 7,104 (9,073)
Reserve for sales returns and allowances (2,714) (13,346) 5,592
Income taxes payable (2,375) (4,064) 9,875
Other liabilities 1,633 3,504 (870)
Total adjustments 4,747 28,291 (4,984)
Net cash provided by operating activities 38,947 66,404 86,099
Cash flows from investing activities      
Purchases of property and equipment (11,246) (8,906) (10,389)
Investments in employee deferred compensation trusts (1,645) (41) 0
Proceeds from sale of property and equipment 2 40 2
Net cash used in investing activities (12,889) (8,907) (10,387)
Cash flows from financing activities      
Repurchase of common stock for employee tax withholding (6,918) (3,070) (1,420)
Repayment of credit facility borrowings (63,000) (10,000) (13,000)
Proceeds from credit facility borrowings 63,000 10,000 13,000
Redemption of preferred stock (20,000) 0 0
Repayment of 2021 BSP Term Loan 0 (69,218) (29,604)
Net cash used in financing activities (26,918) (72,288) (31,024)
Net increase (decrease) in cash, cash equivalents and restricted cash (860) (14,791) 44,688
Effect of foreign currency translation (1,557) 1,855 (4,530)
Cash, cash equivalents and restricted cash, beginning of year 72,554 85,490 45,332
Cash, cash equivalents and restricted cash, end of year 70,137 72,554 85,490
Supplemental disclosures of non-cash activities:      
Right-of-use assets exchanged for lease liabilities 79,134 1,648 5,789
Supplemental disclosures of cash flow information:      
Cash paid for interest 473 4,718 9,040
Cash paid for income taxes, net $ 16,363 $ 21,635 $ 7,669