XML 19 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (2,382) $ (14,225)
Adjustments to reconcile net loss to net cash used in operating activities:    
(Recovery of) provision for credit losses (11) 1,126
Depreciation and amortization 1,559 1,514
Write-off and amortization of debt issuance costs 79 79
Share-based compensation expense 2,552 2,575
Gain on disposal of property and equipment 1 2
Deferred income taxes (10) 1
Changes in operating assets and liabilities:    
Accounts receivable 36,029 42,796
Inventory (383) 6,306
Prepaid expenses and other assets (4,727) (11,199)
Accounts payable (575) (10,489)
Accounts payable - Meisheng (related party) (12,706) (3,637)
Accrued expenses (11,256) (13,521)
Reserve for sales returns and allowances (9,588) (10,672)
Income taxes payable (1,553) (3,735)
Other liabilities 1,271 216
Total adjustments 682 1,362
Net cash used in operating activities (1,700) (12,863)
Cash flows from investing activities    
Purchases of property and equipment (2,070) (2,228)
Investments in employee deferred compensation trusts (995) (1,407)
Proceeds from sale of property and equipment 0 1
Net cash used in investing activities (3,065) (3,634)
Cash flows from financing activities    
Repurchase of common stock for employee tax withholding (3,819) 0
Redemption of preferred stock 0 (20,000)
Cash dividend paid (2,786) 0
Net cash used in financing activities (6,605) (20,000)
Net decrease in cash, cash equivalents and restricted cash (11,370) (36,497)
Effect of foreign currency translation 628 (565)
Cash, cash equivalents and restricted cash, beginning of period 70,137 72,554
Cash, cash equivalents and restricted cash, end of period 59,395 35,492
Supplemental disclosure of non-cash activities:    
Right-of-use assets exchanged for lease liabilities 5,053 3,532
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net 406 1,312
Cash paid for interest $ 0 $ 36