v3.22.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities:    
Net (loss) income $ (5,720) $ 13,679
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,380 7,020
Amortization of original issue discount and debt issue costs 367 2,029
Amortization of inventory step-up 1,344  
Deferred income taxes (4,594) 4,607
Stock-based compensation 26,327  
Provision for (recoveries from) losses on accounts receivable 240 (308)
Foreign exchange loss 1,107 (267)
Changes in operating assets and liabilities, net of impact of acquisitions:    
Accounts receivable (3,243) (2,429)
Inventories (1,461) (7,124)
Prepaid expenses and other assets 3,616 2,292
Accounts payable and other liabilities (345) 9,208
Net cash provided by operating activities 25,018 28,707
Cash Flows From Investing Activities:    
Purchase of property and equipment (2,473) (1,506)
Business acquisitions, net of cash acquired (55,039)  
Net cash used in investing activities (57,512) (1,506)
Cash Flows From Financing Activities:    
Proceeds from revolving credit facilities 48,000 176,548
Principal payments on revolving credit facilities (48,000) (176,548)
Principal payments on term loans (5,009) (13,687)
Principal payments on insurance premium financing (2,853) (1,225)
Payment of capital leases (22) (21)
Taxes paid in connection with employee stock transactions (6,216)  
Proceeds from secondary offering, net of underwriter discounts 49,703  
Deferred offering costs (2,715)  
Dividends distributed (5,533)  
Net cash provided by (used in) financing activities 27,355 (14,933)
Effect of foreign exchange rates on cash and cash equivalents 144 42
Change in cash and cash equivalents (4,995) 12,310
Cash and cash equivalents, beginning of period 33,857 2,873
Cash and cash equivalents, end of period 28,862 15,183
Supplemental Disclosure of Cash Flows Information:    
Cash paid for income taxes, net 241 473
Cash paid for interest 2,330 $ 8,524
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Accruals and accounts payable for capital expenditures $ 17  

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