XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net loss $ (171,563) $ (2,772)
Net loss from continuing operations (170,643) (3,946)
Income (loss) from discontinued operations, net of tax (920) 1,174
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,537 5,056
Stock-based compensation 8,370 11,286
Fair value measurement of liabilities (6,772) (29,693)
Gain on extinguishment of debt (6,133) 0
Impairments 148,190 6,299
Inventory reserve charges 5,860 0
Amortization of right of use assets 1,676 1,907
Deferred income taxes (10,923) (2,831)
Other 1,093 2,610
Changes in operating assets and liabilities:    
Receivables, net (6,212) (16,441)
Inventories 4,949 852
Contract assets (14,947) 193
Prepaid expenses and other assets 2,353 (3,707)
Accounts payable (1,341) (3,816)
Accrued agency fees and commissions (1,415) (1,450)
Deferred revenues 17,590 (1,778)
Operating lease liabilities (1,795) (6,038)
Other (90) (3,132)
Net cash used in operating activities from continuing operations (26,653) (44,629)
Net cash provided by operating activities from discontinued operations 30 1,574
Net cash used in operating activities (26,623) (43,055)
Cash Flows From Investing Activities    
Purchases of property and equipment (752) (4,774)
Proceeds from sale of Yandy 1,000 0
Net cash provided by (used in) investing activities - continuing operations 248 (4,774)
Net cash used in investing activities - discontinued operations (68) (404)
Net cash provided by (used in) investing activities 180 (5,178)
Cash Flows From Financing Activities    
Proceeds from issuance of common stock in rights offering, net 47,600 0
Proceeds from issuance of common stock in registered direct offering, net 13,890 0
Proceeds from issuance of long-term debt 11,828 0
Net proceeds from issuance of preferred stock 0 23,750
Repayment of long-term debt (45,476) (1,597)
Payment of financing costs (508) 0
Proceeds from exercise of stock options 0 1,449
Settlement of the performance holdback contingent consideration 0 (151)
Net cash provided by financing activities - continuing operations 27,334 23,451
Effect of exchange rate changes on cash and cash equivalents 19 (257)
Net increase (decrease) in cash and cash equivalents and restricted cash 910 (25,039)
Balance, beginning of year 35,449 75,486
Balance, end of period 36,359 50,447
Cash and cash equivalents and restricted cash consist of:    
Cash and cash equivalents 34,404 44,613
Restricted cash 1,955 5,834
Total 36,359 50,447
Supplemental Disclosures    
Cash (refunded) paid for income taxes (749) 3,748
Cash paid for interest 8,853 7,652
Supplemental Disclosure of Non-cash Activities    
Right of use assets in exchange for lease liabilities - continuing operations 2,400 3,786
Right of use assets in exchange for lease liabilities - discontinued operations 885 2,198
Shares issued in connection with asset purchase 0 1,333
Shares issued in connection with the settlement of the performance holdback contingent consideration relating to the acquisition of GlowUp 0 260
Shares issued pursuant to a license, services and collaboration agreement $ 236 $ 825