v3.21.2
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (7,255) $ (19,292)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 12,267 12,403
Deferred taxes (3,872) (2,980)
Stock-based compensation 2,256 1,313
Inventory valuation adjustment 24,420 0
Loss on sale of a business entity and certain assets 0 8,214
Gain on sale of property and equipment 0 (1,000)
Goodwill and intangible asset impairment 0 33,734
Earn-out obligation fair value adjustment 0 (1,399)
Changes in operating assets and liabilities, net of impact of acquisitions:    
Receivables (17,558) 4,588
Unbilled receivables (4,378) 193
Inventories (45,157) (19,884)
Other current assets and noncurrent assets (16,693) (8,320)
Accounts payable and deferred compensation (8,017) 11,512
Accrued expenses and other current and noncurrent liabilities 10,019 3,726
Net cash (used in) provided by operating activities (53,968) 22,808
Cash flows from investing activities:    
Purchases of property and equipment (5,158) (1,828)
Proceeds from the sale of property and equipment 14 2,424
Proceeds from payments on notes receivable 1,138 838
Proceeds from the sale of a business entity and certain assets 0 19,915
Cash paid for acquisitions, net of cash acquired (14,785) 0
Net cash (used in) provided by investing activities (18,791) 21,349
Cash flows from financing activities:    
Borrowings on loan agreement 258,497 235,118
Repayments on loan agreement (234,976) (244,843)
Proceeds from issuance of common stock, net of underwriters' discounts and issuance costs 52,017 0
Earn-out obligation payments 0 (31,701)
Payment of debt financing costs 0 (636)
Payments of taxes for equity transactions (681) (635)
Dividends paid (2,139) (1,981)
Net cash provided by (used in) financing activities 72,718 (44,678)
Net decrease in cash and cash equivalents (41) (521)
Cash and cash equivalents at beginning of period 378 734
Cash and cash equivalents at end of period 337 213
Supplemental disclosure of noncash investing and financing activities:    
Notes receivable from the sale of a business entity and certain assets $ 11,815 $ 13,482

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