Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ (6,114) $ 9,508
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation expense 1,705 220
Amortization expense 9,631 4,499
Amortization of inventory fair value adjustment 12,251 0
Amortization of debt issuance costs 448 0
Loss on extinguishment of debt 10,924 0
Lease incentives 358 0
Non-cash operating lease expense 4,568 616
Equity-based compensation 6,714 834
Deferred income taxes, net (8,235) (2,101)
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (2,280) (1,318)
Inventory (16,446) (6,234)
Prepaid expenses and other current assets (5,877) (2,523)
Accounts payable 3,461 (171)
Income taxes payable (12,279) 2,407
Accrued expenses and other current liabilities 23,188 4,955
Returns reserve 486 (1,336)
Deferred revenue 3,351 (166)
Lease liabilities (4,354) (591)
Foreign currency remeasurement (869) 373
Net cash provided by operating activities 20,631 8,972
Cash flows from investing activities:    
Acquisition of businesses, net of cash acquired (226,228) (580)
Purchase of noncontrolling interest (20,198) 0
Purchase of intangible assets (661) 0
Purchases of property and equipment (4,715) (1,003)
Net cash used in investing activities (251,802) (1,583)
Cash flows from financing activities:    
Proceeds from initial public offering, net of issuance costs 98,558 0
Proceeds from line of credit, net of issuance costs 14,150 10,408
Repayment of line of credit (22,071) (9,905)
Issued amount 242,735 0
Repayment of debt (154,513) 0
Proceeds from issuance of units 82,669 450
Net cash provided by financing activities 261,528 953
Effect of exchange rate changes on cash, cash equivalents and restricted cash (830) (444)
Net increase in cash, cash equivalents and restricted cash 29,527 7,898
Cash, cash equivalents and restricted cash at beginning of period 5,791 27,099
Cash, cash equivalents and restricted cash at end of period 56,626 13,689
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 54,449 13,352
Restricted cash 2,177 337
Total cash, cash equivalents and restricted cash $ 56,626 $ 13,689