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 ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (16,633,000) $ (85,003,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation expense 4,720,000 5,912,000
Amortization expense 8,303,000 8,782,000
Amortization of debt issuance costs 451,000 470,000
Lease incentives 0 1,499,000
Loss on disposal of businesses 673,000 1,533,000
Non-cash operating lease expense 6,524,000 5,786,000
Equity-based compensation 5,987,000 5,478,000
Deferred income taxes, net 16,000 3,000
Goodwill impairment 0 68,524,000
Changes in operating assets and liabilities:    
Accounts receivable, net (1,803,000) 111,000
Inventory (16,725,000) 20,428,000
Prepaid expenses and other current assets (397,000) (5,448,000)
Accounts payable 2,276,000 7,495,000
Income taxes payable (1,625,000) (4,528,000)
Accrued liabilities 7,839,000 (10,912,000)
Sales returns reserve (1,199,000) 3,714,000
Deferred revenue 1,083,000 (4,000)
Lease liabilities (5,828,000) (5,798,000)
Net cash (used in) provided by operating activities (6,338,000) 18,042,000
Cash flows from investing activities:    
Purchases of intangible assets (5,000) (59,000)
Purchases of property and equipment (7,689,000) (5,462,000)
Net cash used in investing activities (7,694,000) (5,521,000)
Cash flows from financing activities:    
Proceeds from line of credit, net of issuance costs 34,500,000 0
Repayment of line of credit (13,000,000) (33,100,000)
Repayment of debt (3,300,000) (4,200,000)
Taxes paid related to net share settlement of equity awards (786,000) (107,000)
Proceeds from issuances under equity-based compensation plans 93,000 90,000
Repurchase of shares (1,272,000) (910,000)
Net cash provided by (used in) financing activities 16,235,000 (38,227,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (674,000) (63,000)
Net increase (decrease) in cash, cash equivalents and restricted cash 1,529,000 (25,769,000)
Cash, cash equivalents and restricted cash at beginning of period 24,029,000 48,373,000
Cash, cash equivalents and restricted cash at end of period 25,558,000 22,604,000
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 23,077,000 20,742,000
Restricted cash, included in prepaid expenses and other current assets 538,000 1,862,000
Restricted cash, included in other assets 1,943,000 0
Total cash, cash equivalents and restricted cash $ 25,558,000 $ 22,604,000