Quarterly report [Sections 13 or 15(d)]

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (17,015) $ (18,355)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization, including amounts in cost of goods sold 8,035 6,836
Share-based compensation (307) 1,524
Fair value changes in derivatives (637) 5,100
Non-cash interest expense, including amortization of deferred financing costs 2,173 1,495
Deferred income taxes and uncertain tax positions 8,633 6,647
Gain on debt extinguishment 0 (399)
Other non-cash items, net (82) (159)
Changes in operating assets and liabilities:    
Accounts receivable (1,850) 410
Inventory 2,050 (3,611)
Prepaid expenses and other current and non-current assets 781 903
Accounts payable, accrued expenses and other current liabilities 5,748 6,102
Net cash flows provided by operating activities 7,529 6,493
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for property, plant and equipment (4,021) (1,077)
Investments in intangible assets (354) 0
Proceeds from sale of assets 0 334
Net cash flows used in investing activities (4,375) (743)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from second lien notes, net of debt discount of $512 4,608 0
Proceeds from exercise of options 0 2
Payments on promissory notes 0 (2,750)
Payments on acquisition related credit facility 0 (2,438)
Payments of finance leases (465) (728)
Payments of mortgage loans (153) (37)
Proceeds from other financing activities 0 46
Payments of other financing activities (603) (586)
Net cash flows provided by (used in) financing activities 3,387 (6,491)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 6,541 (741)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 21,346 31,305
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 27,887 30,564
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest (excluding capitalized interest) 7,904 7,781
Cash paid (received) for income taxes 586 (1,522)
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Capital expenditures 2,106 1,011
Right-of-use assets from finance lease liabilities 280 203
Issuance of promissory notes for acquisitions 5,909 0
Warrants issued for second lien notes 1,769 0
Issuance of second lien notes for debt exchange 0 4,750
Warrants issued for debt exchange 0 863
Property, plant and equipment from finance lease liabilities $ 628 $ 0