XML 20 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (84,402,000) $ (382,140,000) $ (91,767,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation of property, plant, and equipment 15,011,000 13,821,000 9,150,000
Amortization of intangible assets 42,770,000 42,726,000 38,350,000
Amortization of deferred financing costs 2,016,000 1,957,000 2,523,000
Loss on disposal of property, plant, and equipment 2,188,000 1,140,000 274,000
Deferred income taxes (2,133,000) (1,303,000) (939,000)
Loss on extinguishment of debt 0 0 5,185,000
Stock-based compensation expense 53,203,000 87,697,000 81,112,000
Bad debt expense (154,000) (175,000) 468,000
Unrealized loss on derivative contracts 3,997,000 2,440,000 4,821,000
Amortization of dedesignated cash flow hedge (10,364,000) 0 0
Change in fair value of contingent consideration 4,478,000 6,722,000 3,800,000
Goodwill impairment 0 222,322,000 0
Restructuring costs 0 2,046,000 0
Non-cash operating lease costs 188,000 331,000 0
Other non-cash adjustments 77,000 3,000 0
Change in operating assets and liabilities:      
Accounts receivable, net (17,735,000) 51,052,000 (26,365,000)
Inventories 57,295,000 (11,931,000) (67,826,000)
Prepaid expenses and other current assets (4,199,000) (3,046,000) (5,787,000)
Other non-current assets (568,000) 78,000 (681,000)
Accounts payable and accrued expenses 2,374,000 (28,211,000) 19,182,000
Other non-current liabilities 0 (435,000) 73,000
Net cash provided by (used in) operating activities 64,042,000 5,094,000 (28,427,000)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchase of property, plant, and equipment (19,946,000) (18,398,000) (22,479,000)
Capitalization of patent costs (460,000) (506,000) (563,000)
Proceeds from sale of property, plant, and equipment 3,028,000 0 0
Business combination, net of cash acquired 0 0 (56,855,000)
Net cash used in investing activities (17,378,000) (18,904,000) (79,897,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from line of credit 115,900,000 179,000,000 118,000,000
Repayments on line of credit (171,209,000) (145,429,000) (67,862,000)
Proceeds from long-term debt 0 25,000,000 510,000,000
Payment of deferred financing costs 0 0 (8,601,000)
Repayments of long-term debt (250,000) (125,000) (579,921,000)
Principal payments on finance lease liabilities (514,000) (505,000) (382,000)
Payments of acquisition related contingent consideration (12,225,000) (9,275,000) 0
Taxes paid related to net share settlement of equity awards 0 (41,000) 0
Proceeds from initial public offering, net of issuance costs 0 0 142,274,000
Net cash provided by (used in) financing activities (68,298,000) 48,625,000 113,508,000
Net increase (decrease) in cash, cash equivalents, and restricted cash (21,634,000) 34,815,000 5,184,000
Cash, cash equivalents, and restricted cash at beginning of period 51,555,000 16,740,000 11,556,000
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 29,921,000 51,555,000 16,740,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid during the period for interest 40,060,000 25,138,000 23,444,000
Cash paid for income taxes 3,062,000 2,844,000 1,654,000
NON-CASH FINANCING AND INVESTING ACTIVITIES      
Equipment purchased under finance leases 460,000 1,116,000 645,000
Property, plant, and equipment included in accounts payable and accrued expenses $ 3,975,000 $ 2,134,000 $ 8,586,000