v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities    
Net income $ 4,774 $ 16,983
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,002 2,507
Amortization/write off of deferred financing costs 2,626 350
Equity-based compensation 5,023 7,523
Provision for credit losses 0 308
Provision for obsolete or slow-moving inventory 0 2,322
Provision for warranty expense 565 0
Deferred taxes 2,495 2,999
Changes in assets and liabilities:    
Accounts receivable 3,715 (25,148)
Unbilled receivables 16,730 (2,948)
Inventory (6,761) (3,197)
Other assets (3,165) (3,281)
Accounts payable 1,332 12,521
Accrued expenses and other (13,402) (1,057)
Warranty liability (3,680) (160)
Deferred revenue (394) 191
Net Cash Provided by Operating Activities 12,860 9,913
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (2,483) (2,003)
Net Cash Used in Investing Activities (2,483) (2,003)
Cash Flows from Financing Activities    
Distributions to non-controlling interests 0 (2,628)
Employee withholding taxes related to net settled equity awards (816) (3,532)
Proceeds from revolving credit facility 143,750 5,000
Deferred financing costs (2,032) 0
Other 0 (556)
Net Cash Used in Financing Activities (17,848) (10,216)
Net Decrease in Cash and Cash Equivalents (7,471) (2,306)
Cash and Cash Equivalents—Beginning of Period 22,707 8,766
Cash and Cash Equivalents—End of Period 15,236 6,460
Supplemental Cash Flows Information:    
Cash paid for interest 7,296 5,193
Cash paid for taxes 59 181
Non-cash investing and financing activities:    
Recording of deferred tax assets and capital contribution related to exchanges of Class B common stock to Class A common stock 0 187,648
Term Loan Facility    
Cash Flows from Financing Activities    
Payments on/ repayments of credit facilities (143,750) (500)
Revolving Credit Facility    
Cash Flows from Financing Activities    
Payments on/ repayments of credit facilities $ (15,000) $ (8,000)