Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (8,059) $ (36,242)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 9,608 13,179
Amortization and write off of debt issuance cost 123 179
Amortization and write off of discount on long-term debt 5,995 3,129
Change in contingent consideration from acquisitions (7,482) 6,435
Non-cash lease expense 3,173 5,690
Change in tax receivable agreement liability 1,331 913
Bad debt expense 2,786 2,270
Equity-based compensation 8,341 13,121
Non-cash interest (1,552) (986)
Gain on disposal of assets and lease terminations (5,021) (8,393)
Gain on divestitures (4,866) 0
Impairment of goodwill and other noncurrent assets 32,411 16,594
Changes in assets and liabilities, net of effect of acquisition:    
Accounts receivable 4,517 594
Inventories 4,355 7,192
Prepaid expenses and other current assets (12,344) (3,013)
Operating lease liabilities (2,772) (2,317)
Deferred costs 6,146 2,795
Notes receivable, net 3 3
Accounts payable (11,390) 2,452
Accrued expenses 1,994 3,990
Other current liabilities (3,837) 1,631
Deferred revenue (17,537) (14,322)
Other assets 1,547 348
Other liabilities 10,170 (4,341)
Net cash provided by operating activities 17,640 10,901
Cash flows from investing activities:    
Purchases of property and equipment (3,070) (4,815)
Proceeds from sale of assets 0 346
Purchase of intangible assets (1,224) (1,435)
Notes receivable issued (173) 0
Notes receivable payments received 169 470
Proceeds from disposition of brands 2,000 0
Acquisition of business 0 (8,500)
Net cash used in investing activities (2,298) (13,934)
Cash flows from financing activities:    
Borrowings from long-term debt 10,000 62,951
Payments on long-term debt (4,123) (42,527)
Debt issuance costs (90) (318)
Payment of preferred stock dividend (5,694) (3,768)
Payment of promissory note liability (3,392) (3,467)
Payments of contingent consideration (500) 0
Payments for taxes related to net share settlement of restricted share units (2,296) 0
Proceeds from issuance of common stock in connection with stock-based compensation plans 122 74
Payments for tax receivable agreement 0 (2,267)
Payments for distributions to Pre-IPO LLC Members (483) (6,979)
Payment received from shareholder (Note 10) 0 14
Reimbursement from shareholder (Note 10) (162) 0
Net cash provided by (used in) financing activities (6,618) 3,713
Increase in cash, cash equivalents and restricted cash 8,724 680
Cash, cash equivalents and restricted cash, beginning of period 32,739 37,094
Cash, cash equivalents and restricted cash, end of period 41,463 37,774
Supplemental cash flow information:    
Interest paid 30,966 30,846
Income taxes paid, net 252 585
Non-cash investing and financing activities::    
Capital expenditures accrued at period end 767 1,143
Accrued tax withholding related to convertible preferred stock dividend 0 106
Contingent consideration upon acquisition 0 446
Debt issuance costs paid-in-kind-long-term debt 10,872 4,059
Debt issuance costs exit fees - long-term debt 7,248 0
Contingent consideration receivable 3,764 0
Notes receivable 5,000 0
Non-cash proceeds from sale of asset 0 275
Preferred stock dividend paid-in-kind $ 0 $ 2,150