Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:              
Net (loss) income $ 21,650 $ (82,558) $ 52,014 $ 9,431 $ (60,908) $ 61,445  
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:              
Founders advisory fees - related party (change in fair value)         68,921 (84,262)  
Depreciation and amortization expense 16,359   16,130   32,771 32,217  
Interest and payment-in-kind on preferred shares         3,528 3,396  
Share-based compensation         4,736 (1,879)  
Non-cash lease expense         2,622 2,271  
Deferred income taxes         (4,756) (11,076)  
Amortization of deferred financing costs         856 824  
Loss on contingent earn-out 0   146   0 392  
Foreign currency loss (gain) 224   93   1,517 (628)  
Loss on disposal of assets         9 20  
Changes in operating assets and liabilities, net of acquisitions:              
Accounts receivable         (57,319) (35,640)  
Inventories         2,681 (19,963)  
Prepaid expenses and other current assets         (126) 1,260  
Accounts payable         277 (4,744)  
Deferred revenue         7,927 2,653  
Income taxes payable, net         8,635 (10,479)  
Accrued expenses and other current liabilities         5,237 (1,805)  
Founders advisory fees - related party (cash settled)         (2,702) (4,655)  
Operating lease liabilities         (1,629) (2,263)  
Financing lease liabilities         (262) (67)  
Other, net         (597) 47  
Net cash provided by (used in) operating activities         11,418 (72,936)  
Cash flows from investing activities:              
Purchase of property and equipment         (5,196) (4,375)  
Proceeds from short-term investments         5,383 0  
Net cash provided by (used in) investing activities         187 (4,375)  
Cash flows from financing activities:              
Ordinary shares repurchased         (14,417) (27,212)  
Principal payments on finance lease obligations         (367) (103)  
Net cash used in financing activities         (14,784) (27,315)  
Effect of foreign currency on cash and cash equivalents         (935) (6)  
Net change in cash and cash equivalents         (4,114) (104,632)  
Cash and cash equivalents, beginning of period   $ 47,276   $ 126,750 47,276 126,750 $ 126,750
Cash and cash equivalents, end of period $ 43,162   $ 22,118   43,162 22,118 $ 47,276
Supplemental disclosures of cash flow information:              
Cash paid for interest         17,153 17,153  
Cash paid for income taxes         $ 4,448 $ 18,317