Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 5 $ 17,226
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 2,469 2,865
Amortization of debt issuance costs 39 112
Inventory reserve 773 (50)
Provision for doubtful accounts   (424)
Deferred income taxes 72 (775)
Change in fair value of warrant liability 334 1,234
Share-based compensation 2,731 3,755
Changes in operating assets and liabilities:    
Accounts receivable (7,996) (5,527)
Inventory (48,983) 28,174
Deposits, prepaid expenses, and other current assets (14,019) (484)
Deferred customer incentives and other assets 68 123
Advance vendor payments (1,423) (1,941)
Accounts payable 14,018 201
Income tax payable   4,975
Accrued expenses (3,396) (1,611)
Deferred revenue 1,343 (538)
Lessee and customer purchase deposits (7,985) (3,184)
Other liabilities (593) (1,083)
Net cash (used in) provided by operating activities (62,442) 43,048
Cash flows from investing activities:    
Proceeds from sale of assets 4,500  
Purchase of property and equipment (1,481) (1,637)
Net cash provided by (used in) investing activities 3,019 (1,637)
Cash flows from financing activities:    
Net cash (used in) provided by financing activities (70) 125
(Decrease) increase in cash and cash equivalents (59,493) 41,536
Cash and cash equivalents, beginning of period 147,188 130,188
Cash and cash equivalents, end of period 87,695 171,724
Supplemental disclosure of cash activities    
Income tax (refund) payment (100) 277
Interest paid $ 141 $ 141