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 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Net sales $ 100,965 $ 87,121 $ 158,723 $ 121,046
Cost of goods sold 72,423 48,840 117,050 73,814
Gross profit 28,542 38,281 41,673 47,232
Operating expenses:        
Selling, general and administrative expense 22,614 18,284 42,422 27,211
Amortization expense 13,802 13,293 27,657 26,542
Founders advisory fees - related party (20,465) 0 (80,313) 0
Other operating expense 260 441 456 753
Total operating expenses 16,211 32,018 (9,778) 54,506
Operating income (loss) 12,331 6,263 51,451 (7,274)
Other expense (income):        
Interest expense, net 12,142 8,035 22,638 15,886
(Gain) loss on contingent earn-out (9,398) 2,763 (9,398) 2,763
Unrealized foreign currency loss (gain) 3,156 (540) 4,036 2,258
Other (income) expense, net (200) (44) (35) (318)
Total other expense, net 5,700 10,214 17,241 20,589
Income (loss) before income taxes 6,631 (3,951) 34,210 (27,863)
Income tax benefit 592 103 10,824 5,486
Net income (loss) 7,223 (3,848) 45,034 (22,377)
Other comprehensive (loss) income, net of tax:        
Foreign currency translation adjustments (16,371) 562 (16,245) (404)
Total comprehensive (loss) income $ (9,148) $ (3,286) $ 28,789 $ (22,781)
Earnings (loss) per share:        
Basic (in usd per share) $ 0.04 $ (0.07) $ 0.28 $ (0.42)
Diluted (in usd per share) $ 0.04 $ (0.07) $ 0.26 $ (0.42)
Weighted average number of ordinary shares outstanding:        
Basic (in shares) 162,917,478 53,045,510 161,591,704 53,045,510
Diluted (in shares) 177,059,844 53,045,510 175,734,070 53,045,510