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
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 123,745 $ 29,632
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Founders advisory fees - related party (change in accounting fair value) (154,026) 0
Depreciation and amortization expense 49,536 45,593
Interest and payment-in-kind on preferred shares 4,903 0
Share-based compensation 19,297 0
Deferred income taxes (72,441) (5,195)
Amortization of deferred financing costs 1,196 2,432
Amortization of acquisition related inventory step-up 27,973 0
(Gain) loss on contingent earn-out (13,042) 2,763
Unrealized loss on foreign currency 8,741 3,892
Loss on disposal of assets 9 0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (63,838) (72,103)
Inventories (40,759) (5,554)
Prepaid expenses and other current assets 9,058 3,104
Other assets 0 346
Accounts payable 4,975 12,971
Deferred revenue 889 831
Income taxes payable, net 88,673 11,180
Accrued expenses and other current liabilities 15,547 2,725
Founders advisory fees - related party (cash settled) (53,547) 0
Other liabilities (73) (200)
Net cash (used in) provided by operating activities (43,184) 32,417
Cash flows from investing activities:    
Purchase of property and equipment (6,024) (5,149)
Purchase price adjustment under Business Combination Agreement (1,638) 0
Purchase of businesses, net of cash acquired 0 (7,464)
Net cash used in investing activities (7,662) (12,613)
Cash flows from financing activities:    
Ordinary shares repurchased (7,572) 0
Proceeds from exercise of warrants 529 0
Proceeds from revolving credit facility 0 19,500
Repayments of revolving credit facility 0 (19,500)
Repayments of long-term debt 0 (4,211)
Net cash used in financing activities (7,043) (4,211)
Effect of foreign currency on cash and cash equivalents (1,409) 1,510
Net change in cash and cash equivalents (59,298) 17,103
Cash and cash equivalents, beginning of period 225,554 22,478
Cash and cash equivalents, end of period 166,256 39,581
Supplemental disclosures of cash flow information:    
Cash paid for interest 18,299 21,502
Cash paid for income taxes 7,588 7,092
Non-cash investing and financing activities:    
Liability portion of founders advisory fees - related party reclassified to additional paid in capital $ 13,783 $ 0