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
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (11,194) $ (14,593)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation expense 3,041 4,230
Amortization expense 5,527 5,931
Amortization of debt issuance costs 303 315
Lease incentives 0 1,186
Loss on disposal of businesses 673 1,533
Non-cash operating lease expense 4,085 3,760
Equity-based compensation 3,851 3,760
Deferred income taxes, net 0 3
Changes in operating assets and liabilities:    
Accounts receivable (914) 896
Inventory (18,954) 15,511
Prepaid expenses and other current assets 2,757 (3,793)
Accounts payable 4,874 350
Income taxes payable (1,533) (1,179)
Accrued liabilities 4,593 (9,117)
Returns reserve (1,568) 2,214
Deferred revenue 4,253 98
Lease liabilities (3,992) (3,815)
Net cash (used in) provided by operating activities (4,198) 7,290
Cash flows from investing activities:    
Purchases of intangible assets (5) (62)
Purchases of property and equipment (2,726) (3,618)
Net cash used in investing activities (2,731) (3,680)
Cash flows from financing activities:    
Proceeds from line of credit, net of issuance costs 24,500 0
Repayment of line of credit (10,000) (21,100)
Repayment of debt (1,200) (2,800)
Taxes paid related to net share settlement of equity awards (202) (66)
Proceeds from issuances under equity-based compensation plans 93 90
Repurchase of shares (1,189) (299)
Net cash provided by (used in) financing activities 12,002 (24,175)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,310) 69
Net increase (decrease) in cash, cash equivalents and restricted cash 3,763 (20,496)
Cash, cash equivalents and restricted cash at beginning of period 24,029 48,373
Cash, cash equivalents and restricted cash at end of period 27,792 27,877
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 25,466 25,876
Restricted cash, included in prepaid expenses and other current assets 582 2,001
Restricted cash, included in other assets 1,744 0
Total cash, cash equivalents and restricted cash $ 27,792 $ 27,877