v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net (loss) income $ (206,366) $ (5,905) $ 67,486
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Founders advisory fees - related party (change in fair value) 435,163 198,308 (108,481)
Depreciation and amortization expense 74,032 65,718 64,855
Interest and payment-in-kind on preferred stock 7,332 7,057 6,792
Stock-based compensation 16,647 12,849 1,596
Non-cash lease expense 6,861 5,070 5,248
Deferred income taxes (74,144) (99,557) (25,816)
Intangible impairment 0 0 40,738
Amortization of deferred financing costs 1,907 1,730 1,664
Gain on contingent earn-out 0 0 (7,273)
Foreign currency (gain) loss (3,038) 2,443 (1,655)
Loss on disposal of assets 149 66 139
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (6,954) (13,293) (14,435)
Inventories (5,980) 29,872 (2,044)
Prepaid expenses and other current assets 971 (843) 1,014
Accounts payable 6,228 (754) (15,335)
Deferred revenue 37 1,842 0
Income taxes payable, net (5,685) (13,299) (3,498)
Accrued expenses and other current liabilities 4,159 4,306 (1,758)
Founders advisory fees - related party (cash settled) (6,677) (2,702) (4,655)
Operating lease liabilities (4,867) (3,278) (4,182)
Finance lease liabilities (489) (501) (282)
Other, net (1,137) (741) 75
Net cash provided by operating activities 238,149 188,388 193
Cash flows from investing activities:      
Purchase of property and equipment (29,591) (15,531) (9,435)
Purchase of intangible assets (15,226) 0 0
Proceeds from short-term investments 0 5,383 0
Purchase of short-term investments 0 0 (5,459)
Purchase of businesses, net of cash acquired (62,000) (32,792) 0
Net cash used in investing activities (106,817) (42,940) (14,894)
Cash flows from financing activities:      
Common stock / ordinary shares repurchased (40,370) (14,420) (64,066)
Proceeds from exercises of warrants 0 23,509 0
Proceeds from exercises of options 34,453 0 0
Principal payments on finance lease obligations (875) (740) (387)
Payment for credit facility financing fees (2,179) 0 0
Net cash (used in) provided by financing activities (8,971) 8,349 (64,453)
Effect of foreign currency on cash and cash equivalents 5,110 (2,617) (320)
Net change in cash and cash equivalents 127,471 151,180 (79,474)
Cash and cash equivalents, beginning of period 198,456 47,276 126,750
Cash and cash equivalents, end of period 325,927 198,456 47,276
Supplemental disclosures of cash flow information:      
Cash paid for interest 36,745 37,317 37,005
Cash paid for income taxes 48,851 74,559 25,960
Non-cash investing and financing activities:      
Liability portion of founders advisory fees - related party reclassified to additional paid in capital $ 138,823 $ 8,464 $ 2,618