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
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 37,811 $ (18,529)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Founders advisory fees - related party (change in accounting fair value) (59,848) 0
Depreciation and amortization expense 16,371 15,146
Interest and payment-in-kind on preferred shares 1,634 0
Share-based compensation 5,724 0
Deferred income taxes 6,239 2,183
Amortization of deferred financing costs 395 811
Amortization of acquisition related inventory step-up 9,299 0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (8,921) 11,513
Inventories (16,782) (10,970)
Income tax receivable (16,150) (7,551)
Prepaid expenses and current other assets 4,164 5,696
Other assets 599 546
Accounts payable (6,143) 6,445
Deferred revenue 372 (22)
Accrued expenses and other current liabilities 7,833 (5,439)
Founders advisory fees - related party (cash settled) (53,547) 0
Other liabilities 54 (11)
Net cash used in operating activities (70,896) (182)
Cash flows from investing activities:    
Purchase of property and equipment (1,313) (1,674)
Purchase price adjustment under Business Combination Agreement (1,638)  
Purchase of businesses, net of cash acquired   (3,607)
Net cash used in investing activities (2,951) (5,281)
Cash flows from financing activities:    
Proceeds from exercise of warrants 529 0
Repayments of long-term debt 0 (1,403)
Net cash provided by (used in) financing activities 529 (1,403)
Effect of foreign currency on cash and cash equivalents 1,307 1,717
Net change in cash and cash equivalents (72,011) (5,149)
Cash and cash equivalents, beginning of period 225,554 22,478
Cash and cash equivalents, end of period 153,543 17,329
Supplemental disclosures of cash flow information:    
Cash paid for interest 145 7,119
Cash received for income taxes 17 0
Non-cash investing and financing activities:    
Liability portion of founders advisory fees - related party reclassified to additional paid in capital $ 13,783 $ 0