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
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net (loss) income $ (2,430) $ 2,330
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,260 3,656
Non-cash exit costs 263  
Stock-based compensation 1,358 1,320
Amortization of debt issuance costs 185 186
Deferred taxes (384) (3)
Changes in operating assets and liabilities:    
Accounts receivable 5,080 4,638
Inventory 789 731
Other current assets (2,837) (262)
Security deposits   (2)
Other assets (408) (246)
Accounts payable (1,433) (1,667)
Accrued expenses 4,433 (4,160)
Operating lease liabilities and right-of-use assets 522 611
Other liabilities (20) (511)
Net cash provided by operating activities 10,378 6,621
Investing activities:    
Purchase of property and equipment (15,795) (11,852)
Net cash used in investing activities (15,795) (11,852)
Financing activities:    
Repayments of long-term debt and financing lease liabilities (68) (229)
Tax-withholding obligation on stock-based compensation (124) (156)
Purchase of treasury stock   (735)
Net cash used in financing activities (192) (1,120)
Effect of exchange rate changes on cash (64) (71)
Net decrease in cash and cash equivalents (5,673) (6,422)
Cash and cash equivalents, beginning of period 21,047 55,121
Cash and cash equivalents, end of period 15,374 48,699
Supplemental disclosure of cash flow data:    
Interest paid, net of capitalized interest 26 1,969
Income taxes paid 61 15
Accrued purchases of property and equipment $ 9,506 $ 4,235