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, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (19,847) $ (17,015)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization, including amounts in cost of goods sold 7,946 8,035
Share-based compensation 392 (307)
Fair value changes in derivatives (2,312) (637)
Non-cash interest expense, including amortization of deferred financing costs 2,591 2,173
Deferred income taxes and uncertain tax positions 8,253 8,633
Loss on debt extinguishment/modification 4,977 0
Other non-cash items, net [1] 3,292 (82)
Changes in operating assets and liabilities:    
Accounts receivable 396 (1,850)
Inventory (1,251) 2,050
Prepaid expenses and other current and non-current assets 512 781
Accounts payable, accrued expenses and other current liabilities 3,663 5,748
Net cash flows provided by operating activities 8,612 7,529
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for property, plant and equipment (3,034) (4,021)
Investments in intangible assets (1,550) (354)
Proceeds from sale of assets 504 0
Net cash flows used in investing activities (4,080) (4,375)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Debt, net 17,483 4,608
Debt principal paid (5,013) (153)
Payments of finance leases (534) (465)
Payments of loan financing costs (254) 0
Payments of other financing activities (559) (603)
Net cash flows provided by financing activities 11,123 3,387
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 15,655 6,541
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 26,616 21,346
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 42,271 27,887
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest (excluding capitalized interest) 4,911 7,904
Cash paid (received) for income taxes (15) 586
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Capital expenditures 1,598 2,106
Right-of-use assets from finance lease liabilities 0 280
Issuance of promissory notes for acquisitions 1,355 5,909
Warrants issued for Second Lien Notes 0 1,769
Property, plant and equipment from finance lease liabilities 215 628
2026 Term Loan used to settle the Second Lien Notes and 2024 Term Loan, and refinancing fees 136,117 0
Debt Original Issue Discount $ 6,400 $ 512
[1] For the three months ended March 31, 2026, Other non-cash items, net includes $3,305 accrued interest settled by a third-party lender.