v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities:    
Net loss from continuing operations $ (7,763) $ (12,795)
Net loss from discontinued operations (14,226) (3,996)
Net loss (21,989) (16,791)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization of long-lived assets 2,476 4,843
Impairment of long-lived assets 8,783 0
Amortization of deferred financing costs and debt discount 1,515 740
Amortization of guaranty fee 0 608
Non-cash operating lease expense 1,710 1,804
Loss on debt extinguishment 0 5,071
Loss on asset disposals 8 81
(Benefit from) provision for deferred income taxes (531) 2,514
Prior service cost amortization for pension and postretirement plans 124 231
Stock-based compensation 760 1,391
Foreign exchange (1,781) 1,333
Unrealized loss on securities (544) 0
Bad debt expense 632 1,148
Changes in operating assets and liabilities:    
Accounts receivable - trade, net (14,306) 16,849
Contracts in progress 10,997 (21,515)
Other current and noncurrent assets (5,658) 2,429
Advance billings on contracts (7,526) (6,350)
Inventories, net (2,957) 3,100
Income taxes 253 2,889
Accounts payable 19,577 (1,758)
Accrued and other current liabilities 8,884 (8,351)
Accrued contract loss (3,472) (2,784)
Pension liabilities, accrued postretirement benefits and employee benefits (3,571) 176
Other, net (1,861) (2,596)
Net cash used in operating activities: (8,477) (14,938)
Investing Activities:    
Purchase of property, plant and equipment (4,328) (3,394)
Purchases of securities (3,994) (1,624)
Sales and maturities of securities 4,416 2,147
Other, net 0 22
Net cash used in investing activities (3,906) (2,849)
Financing Activities:    
Borrowings on loan payable 18,992 90,352
Repayments on loan payable (20,371) (28,802)
Payment of holdback funds from acquisition 0 (2,950)
Finance lease payments (401) (332)
Payment of preferred stock dividends (3,715) (3,714)
Issuance of common stock, net 5,187 0
Payment of non-controlling interest dividends (118) 0
Debt issuance costs 0 (3,146)
Other, net 12 (111)
Net cash (used in) provided by financing activities (414) 51,297
Effects of exchange rate changes on cash 352 (2,427)
Net (decrease) increase in cash, cash equivalents and restricted cash (12,445) 31,083
Cash, cash equivalents and restricted cash at beginning of period 131,064 71,369
Cash, cash equivalents and restricted cash at end of period [1] 118,619 102,452
Schedule of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 23,491 43,881
Current restricted cash 84,990 16,935
Long-term restricted cash 10,138 41,636
Total cash, cash equivalents and restricted cash at end of period [1] 118,619 102,452
Supplemental cash flow information:    
Income taxes paid, net 2,533 2,318
Interest paid $ 9,284 $ 7,089
[1] Includes cash held at discontinued operations of $1.9 million and $12.9 million at March 31, 2025 and 2024, respectively.