Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.23.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:              
Net loss (including amounts attributable to non-controlling interest) $ (10,098) $ (8,747) $ (137,245) $ (18,749) $ (27,869) $ (170,475) $ (182,200)
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation and amortization 524   2,124   1,492 6,876  
Equity-based compensation expense         255 2,020  
Goodwill and indefinite-lived intangibles impairment charge 0   66,760   0 66,760  
Definite-lived intangibles impairment charge 0   50,694   0 50,694  
Property and equipment impairment charge 0   7,336   0 7,336  
Change in fair value of contingent consideration         103 (1,197)  
Change in provision for doubtful accounts         (154) 2,637  
Gain related to indemnification asset         0 (2,018)  
(Gain) loss on disposal of fixed assets         0 820  
(Gain) loss on disposal of held-for-sale assets         0 (780)  
Gain related to VIBES disposition / deconsolidation         0 (2,062)  
Unrealized loss on equity investments         0 1,214  
Realized (gain) loss on interest rate swap contract         0 (408)  
Amortization of deferred financing costs and debt discount         2,711 446  
Other         (17) (17)  
Changes in operating assets and liabilities, net of the effects of acquisitions:              
Decrease (increase) in accounts receivable         4,697 247  
Decrease (increase) in inventories         18,005 19,044  
Decrease (increase) in vendor deposits         2,945 5,027  
Decrease (increase) in other current assets         3,968 1,257  
(Decrease) increase in accounts payable         (3,121) (5,384)  
(Decrease) Increase in accrued expenses and other liabilities         (250) (1,124)  
(Decrease) increase in customer deposits         (1,573) (3,401)  
Net cash (used in) provided by operating activities         1,192 (22,488) (26,400)
Cash flows from investing activities:              
Proceeds from VIBES disposition (Note 3)         0 4,567  
Purchases of property and equipment, net         (633) (1,660)  
Proceeds from the sale of equity investments         53 0  
Proceeds from sale of assets held for sale         0 9,593  
Net cash provided by (used in) investing activities         (580) 12,500  
Cash flows from financing activities:              
Proceeds from issuance of Class A common stock, net of costs         3,852 14,064  
Proceeds from (repayment of) Asset-Based Loan         (15,000) 14,550  
Proceeds from Secured Bridge Loan, net of costs         2,090 0  
Debt issuance costs         (751) (1,472)  
Repayment of loan against future accounts receivable         (851) 0  
Proceeds from issuance of unsecured debt         3,000 0  
Payments on Eyce and DaVinci promissory notes         (2,539) (2,791)  
Payments on Real Estate Note         0 (7,958)  
Repayment of Bridge Loan         0 (8,000)  
Proceeds from termination of interest rate swap         0 145  
Purchase consideration paid for Eyce and DaVinci acquisition         (300) (875)  
Other         (29) (128)  
Net cash provided by financing activities         (10,528) 7,535  
Effects of exchange rate changes on cash and restricted cash         183 (210)  
Net (decrease) in cash and restricted cash         (9,733) (2,663)  
Cash and restricted cash, as of beginning of the period   12,176   12,857 12,176 12,857 12,857
Cash and restricted cash, as of end of the period 2,443   10,194   2,443 10,194 12,176
Cash, beginning of the period   6,458   12,857 6,458 12,857 12,857
Restricted cash, beginning of the period   $ 5,718   $ 0 5,718 0 0
Cash, ending of the period 2,443   8,039   2,443 8,039 6,458
Restricted cash, ending of the period $ 0   $ 2,155   0 2,155 $ 5,718
Supplemental disclosures of cash flow information              
Cash paid during the period for interest         (4,495) (1,598)  
Cash paid for amounts included in the measurement of lease liabilities         1,353 2,120  
Non-cash investing and financing activities:              
Non-cash purchases of property and equipment         133 1,617  
Issuance of Class A common stock for business acquisitions         0 3,486  
Decrease in non-controlling interest as a result of exchanges for Class A common stock         0 (10,291)  
Decrease in non-controlling interest as a result of VIBES disposition         0 (1,789)  
Transfer from contingent consideration to notes payable         1,150 0  
Transfer from accrued expenses to notes payable         $ 437 $ 0