v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net (loss) income $ (121,215) $ (92,723) $ 2,948
Adjustments to reconcile net (loss) income to net cash used in operating activities:      
Depreciation and amortization 25,106 17,487 9,473
Non-cash interest 1,237 1,072 517
Loss on impairment of goodwill 6,879
Loss on extinguishment of debt 4,331
Loss on disposal of property and equipment 1,680 620
Change in fair value – warrant liabilities (4,343) (24,054)
Tax receivable agreement income (161,970) (4,016)
Stock-based compensation 4,875 3,366 3,366
Gain from effective settlement of preexisting relationship (1,421)
Deferred income taxes 213,548 (3,608)
Changes in operating assets and liabilities:      
Accounts receivable (3,651) (4,112) 3,681
Inventories 5,903 28,956 (32,964)
Prepaid expenses and other assets 1,574 1,757 1,744
Operating leases, net 1,404 7,709 2,159
Accounts payable 4,382 (33,609) 6,796
Customer prepayments 1,266 (6,456) 4,601
Accrued rebates and allowances 3,439 (365) (722)
Accrued warranty liabilities 11,128 6,854 8,195
Other accrued liabilities (3,000) (5,143) (9,019)
Net cash used in operating activities (54,662) (28,773) (30,903)
Cash flows from investing activities:      
Cash, cash equivalents and restricted cash acquired from acquisition, net of cash paid 3,660
Excess restricted cash returned to acquiree (826)
Purchase of property and equipment (14,391) (35,376) (53,938)
Investment in intangible assets (844) (2,785) (3,121)
Net cash used in investing activities (16,061) (34,501) (57,059)
Cash flows from financing activities:      
Proceeds from term loan 25,000
Proceeds from revolving line of credit 17,000 55,000
Payments on term loan (24,656) (17,531) (2,250)
Payments on revolving line of credit (12,000) (55,000)
Proceeds from stock offering 60,300 98,210
Payments for stock offering costs (3,301) (5,344)
Proceeds from exercise of warrants 116
Proceeds from exercise of stock options 166 1,418
Payments for debt issuance costs (6,143) (1,242)
Proportional Representation Preferred Linked Stock redemption fee (105)
Tax receivable agreement payments (269) (5,847) (628)
Proceeds from InnoHold indemnification payment 4,142
Distributions to members (1,175)
Net cash provided by financing activities 55,826 13,412 56,623
Net decrease in cash, cash equivalents and restricted cash (14,897) (49,862) (31,339)
Cash, cash equivalents and restricted cash, beginning of the year 41,754 91,616 122,955
Cash, cash equivalents and restricted cash, end of the year 26,857 41,754 91,616
Supplemental disclosures of cash flow information:      
Cash paid during the year for interest, net of amounts capitalized 189 2,693 999
Cash paid during the year for income taxes 385 303 4,645
Supplemental schedule of non-cash investing and financing activities:      
Property and equipment included in accounts payable 3,232 4,162 6,443
Issuance of stock for acquisition 26,106
Escrow shares cancelled in connection with Intellibed acquisition 118
Non-cash leasehold improvements 3,238
Accrued distributions 228 401
Tax receivable agreement liability 760
Deferred income taxes 2,937
Exercise of liability warrants $ 64,311