v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities:    
Net income (loss) $ 29,047 $ (779)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 12,385 11,319
Amortization of original issue discount and debt issue costs 359 554
Amortization of inventory step-up   3,055
Deferred income taxes 1,317 (2,755)
Stock-based compensation 7,060 28,988
Gain on sale of fixed assets (98)  
Provision for losses on accounts receivable 37 245
Foreign exchange (gain) loss (243) 3,006
Other (296)  
Changes in operating assets and liabilities, net of impact of acquisitions:    
Accounts receivable 3,429 (3,271)
Inventories (12,229) (7,187)
Prepaid expenses and other assets (3,131) 986
Accounts payable and other liabilities 8,623 (4,660)
Net cash provided by operating activities 46,260 29,501
Cash Flows From Investing Activities:    
Purchase of property and equipment (4,248) (2,938)
Proceeds from disposition of property and equipment 206  
Business acquisitions, net of cash acquired   (55,039)
Net cash used in investing activities (4,042) (57,977)
Cash Flows From Financing Activities:    
Proceeds from revolving credit facilities   43,000
Principal payments on revolving credit facilities   (43,000)
Principal payments on term loans (7,500) (7,514)
Proceeds from insurance premium financing 3,949 3,989
Principal payments on insurance premium financing (2,909) (3,878)
Payment of capital leases   (26)
Taxes paid in connection with employee stock transactions (2,725) (6,216)
Proceeds from secondary offering, net of underwriter discounts   56,329
Deferred offering costs   (2,953)
Dividends distributed (8,999) (8,521)
Net cash (used in) provided by financing activities (18,184) 31,210
Effect of foreign exchange rates on cash and cash equivalents 92 (241)
Change in cash and cash equivalents 24,126 2,493
Cash and cash equivalents, beginning of period 45,286 33,857
Cash and cash equivalents, end of period 69,412 36,350
Supplemental Disclosure of Cash Flows Information:    
Cash paid for income taxes, net 7,923 710
Cash paid for interest 7,389 3,860
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Accruals and accounts payable for capital expenditures $ 24 $ 272

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