XML 19 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net loss $ (75,817) $ (23,589)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation and amortization 5,763 4,606
Non-cash lease expense on right-of-use assets 3,013 2,742
Loss on change in fair market value for Warrant liability 99,518 2,229
Impairment on leased railcars 0 4,091
Loss on pension settlement 0 313
Stock-based compensation recognized 3,110 1,240
Non-cash interest expense 2,266 10,116
Loss on extinguishment of debt 0 14,880
Other non-cash items, net (1,718) 138
Changes in operating assets and liabilities:    
Accounts receivable (6,098) 3,163
VAT receivable (784) 1,426
Inventories 54,962 (60,912)
Accounts and contractual payables (38,365) 39,943
Income taxes payable, net (359) 245
Lease liability (3,517) (3,150)
Other assets and liabilities 2,959 7,288
Net cash flows provided by operating activities 44,933 4,769
Cash flows from investing activities    
Purchase of property, plant and equipment (5,019) (12,722)
Proceeds from sale of railcars available for lease, net of selling costs 0 8,356
Net cash flows used in investing activities (5,019) (4,366)
Cash flows from financing activities    
Proceeds from issuance of preferred shares, net of issuance costs 0 13,254
Redemption of preferred shares (85,412) 0
Dividends paid (27,863) 0
Proceeds from issuance of long-term debt 115,000 0
Deferred financing costs (6,149) (353)
Borrowings on revolving line of credit 26,972 149,811
Repayments on revolving line of credit (56,387) (159,348)
Employee stock settlement (40) (106)
Payment for stock appreciation rights exercised 0 (6)
Financing lease payments (2,145) (1,007)
Net cash flows (used in) provided by financing activities (36,024) 2,245
Net increase in cash and cash equivalents 3,890 2,648
Cash, cash equivalents and restricted cash equivalents at beginning of year 40,560 37,912
Cash, cash equivalents and restricted cash equivalents at end of year 44,450 40,560
Supplemental cash flow information    
Interest paid 4,584 4,951
Income taxes paid 5,901 2,097
Non-cash transactions    
Change in unpaid construction in process (264) (438)
Accrued PIK interest paid through issuance of PIK Note 0 3,161
Issuance of preferred shares in exchange of term loan 0 72,688
Issuance of warrants 0 3,014
Issuance of equity fee $ 0 $ 685