Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 45,034 $ (22,377)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Founders advisory fees - related party (change in accounting fair value) (80,313) 0
Depreciation and amortization expense 33,086 30,381
Interest and payment-in-kind on preferred shares 3,268 0
Share-based compensation 12,465 0
Deferred income taxes 7,648 2,242
Amortization of deferred financing costs 793 1,621
Amortization of acquisition related inventory step-up 27,315 0
(Gain) loss on contingent earn-out (9,398) 2,763
Unrealized loss on foreign currency 4,036 2,258
Loss on disposal of assets 9 0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (44,477) (37,994)
Inventories (41,431) (19,472)
Income tax receivable (24,778) (5,848)
Prepaid expenses and current other assets 7,301 4,761
Other assets 0 229
Accounts payable 15,834 26,263
Deferred revenue 4,991 6,415
Accrued expenses and other current liabilities 2,789 (1,559)
Founders advisory fees - related party (cash settled) (53,547) 0
Other liabilities 24 (199)
Net cash used in operating activities (89,351) (10,516)
Cash flows from investing activities:    
Purchase of property and equipment (4,006) (3,507)
Purchase price adjustment under Business Combination Agreement (1,638) 0
Acquisition of SK Invictus, net of cash acquired 0 (6,264)
Net cash used in investing activities (5,644) (9,771)
Cash flows from financing activities:    
Ordinary shares repurchased (5,008) 0
Proceeds from exercise of warrants 529 0
Proceeds from revolving credit facility 0 7,500
Repayments of revolving credit facility 0 (3,000)
Repayments of long-term debt 0 (2,808)
Net cash (used in) provided by financing activities (4,479) 1,692
Effect of foreign currency on cash and cash equivalents (578) 158
Net change in cash and cash equivalents (100,052) (18,437)
Cash and cash equivalents, beginning of period 225,554 22,478
Cash and cash equivalents, end of period 125,502 4,041
Supplemental disclosures of cash flow information:    
Cash paid for interest 17,919 14,266
Cash paid for income taxes 6,572 946
Non-cash investing and financing activities:    
Liability portion of founders advisory fees - related party reclassified to additional paid in capital $ 13,783 $ 0