Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss (including amounts attributable to non-controlling interest) $ (8,882) $ (27,869)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 635 1,492
Equity-based compensation expense 86 255
Change in provision for doubtful accounts 41 (154)
Change in fair value of contingent consideration (1,000) 103
Amortization of debt discount and deferred financing fees 3,373 2,711
Gain on extinguishment of debt (2,166)
Other (17)
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Increase (decrease) in accounts receivable (660) 4,697
Decrease in inventories 4,516 18,005
Decrease in vendor deposits 40 2,945
Decrease in other current assets 1,058 3,968
Increase (decrease) in accounts payable (1,221) (3,121)
Increase (decrease) in accrued expenses and other liabilities 468 (250)
Decrease in customer deposits (1,520) (1,573)
Net cash (used in) provided by operating activities (5,232) 1,192
Cash flows from investing activities:    
Purchases of property and equipment, net (173) (633)
Proceeds from sale of equity investments 53
Net cash used in investing activities (173) (580)
Cash flows from financing activities:    
Payments on Eyce and DaVinci promissory notes (2,539)
Purchase consideration paid for Eyce LLC and DaVinci acquisitions   (300)
Repayments of Asset-Based Loan (15,000)
Modification costs of Asset-Based Loan (751)
Proceeds from issuance of Class A common stock and warrants, net of costs 5,640 3,852
Proceeds from exercise of stock options, net of costs 1,477
Proceeds from Secured Bridge Loan, net of costs 2,090
Repayments of notes payable (2,100)
Proceeds from notes payable 2,950
Proceeds from future receivables financing 225 3,000
Repayments of loan against future accounts receivable (939) (851)
Other (5) (29)
Net cash provided by (used in) financing activities 7,248 (10,528)
Effects of exchange rate changes on cash 3 183
Net decrease in cash 1,846 (9,733)
Total cash and restricted cash, beginning of period 463 12,176
Total cash and restricted cash, end of period 2,309 2,443
Cash 463 6,458
Restricted cash 5,718
Cash 2,309 2,443
Restricted cash
Supplemental disclosures of cash flow information    
Cash paid for interest 778 4,495
Cash paid for amounts included in the measurement of lease liabilities 1,353
Non-cash financing activities:    
Non-cash purchases of property and equipment 133
Extinguishment of debt in connection with Synergy asset purchase agreement 2,658
Transfer from contingent consideration to notes payable 1,150
Transfer from accrued expenses to notes payable $ 437