Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (1,313) $ (18,093)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 5,929 8,953
Amortization and write off of debt issuance cost 87 124
Amortization and write off of discount on long-term debt 3,664 2,201
Change in contingent consideration from acquisitions (10,553) 2,770
Non-cash lease expense 2,207 4,109
Change in tax receivable agreement liability 1,975 862
Bad debt expense 1,163 1,467
Equity-based compensation 5,947 8,138
Non-cash interest (747) (649)
Gain on disposal of assets (931) (6,645)
Impairment of goodwill and other noncurrent assets 14,843 12,089
Changes in assets and liabilities, net of effect of acquisition:    
Accounts receivable (11,949) 1,159
Inventories 2,624 4,309
Prepaid expenses and other current assets (4,146) (2,915)
Operating lease liabilities (1,934) (2,965)
Deferred costs 2,065 2,324
Notes receivable, net 1 2
Accounts payable (4,662) 3,919
Accrued expenses 12,127 (2,708)
Other current liabilities (2,417) (988)
Deferred revenue (7,335) (11,067)
Other assets 1,296 282
Other liabilities 400 (996)
Net cash provided by operating activities 8,341 5,682
Cash flows from investing activities:    
Purchases of property and equipment (1,992) (2,984)
Proceeds from sale of assets 0 346
Purchase of intangible assets (803) (1,016)
Notes receivable issued (173) 0
Notes receivable payments received 108 393
Acquisition of businesses 0 (8,500)
Net cash used in investing activities (2,860) (11,761)
Cash flows from financing activities:    
Borrowings from long-term debt 10,000 38,701
Payments on long-term debt (2,748) (41,178)
Debt issuance costs (90) (269)
Payment of preferred stock dividend and deemed cash dividend (3,796) (1,968)
Payments of contingent consideration (500) 0
Payments for taxes related to net share settlement of restricted share units (2,097) 0
Proceeds from issuance of common stock in connection with stock-based compensation plans 122 74
Payments for tax receivable agreement 0 (136)
Payments for distributions to Pre-IPO LLC Members (432) (236)
Payment received from shareholder (Note 10) 0 14
Net cash provided by (used in) financing activities 459 (4,998)
Increase (decrease) in cash, cash equivalents and restricted cash 5,940 (11,077)
Cash, cash equivalents and restricted cash, beginning of period 32,739 37,094
Cash, cash equivalents and restricted cash, end of period 38,679 26,017
Supplemental cash flow information:    
Interest paid 20,444 20,100
Income taxes paid, net 233 407
Non-cash investing and financing activities::    
Capital expenditures accrued at period end 1,516 1,179
Adjustment of convertible preferred stock to redemption value 0 6,094
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
Non-cash proceeds from sale of asset 0 275
Preferred stock dividend paid-in-kind $ 0 $ 2,150