Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Net sales $ 59,044 $ 43,858
Cost of goods sold 38,342 33,461
Gross profit 20,702 10,397
Operating expenses:    
Selling, general and administrative expense 13,462 8,016
Amortization expense 13,771 13,763
Founders advisory fees - related party 68,333 (24,236)
Other operating expense 0 2
Total operating expenses 95,566 (2,455)
Operating (loss) income (74,864) 12,852
Other expense (income):    
Interest expense, net 10,648 10,146
Loss on contingent earn-out 0 246
Foreign currency loss (gain) (1,293) 721
Other expense, net 27 72
Total other expense, net 11,968 9,743
(Loss) income before income taxes (86,832) 3,109
Income tax benefit 4,274 6,322
Net (loss) income (82,558) 9,431
Other comprehensive (loss) income, net of tax:    
Foreign currency translation adjustments (5,543) 1,593
Total comprehensive (loss) income $ (88,101) $ 11,024
(Loss) earnings per share:    
Basic (in usd per share) $ (0.57) $ 0.06
Diluted (in usd per share) $ (0.57) $ 0.06
Weighted average number of ordinary shares outstanding:    
Basic (in shares) 145,326,933 157,700,326
Diluted (in shares) 145,326,933 169,485,631