Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss (including amounts attributable to non-controlling interest) $ (53,423) $ (47,704)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,689 2,520
Equity-based compensation expense 5,715 853
Goodwill impairment charge 0 8,996
Change in fair value of contingent consideration 189 (719)
Change in provision for doubtful accounts 236 576
(Gain) loss related to indemnification asset (1,692) 4,464
Loss on disposal of assets 109 579
Impairment of held-for-sale assets 97 376
Unrealized loss on equity investments 171 0
Other 86 75
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Decrease (increase) in accounts receivable (1,393) 1,186
Decrease in inventories 5,730 6,996
Decrease (increase) in vendor deposits (43) 29
Decrease (increase) in other current assets 9,087 (10,194)
(Decrease) increase in accounts payable (1,301) 7,095
(Decrease) Increase in accrued expenses and other liabilities (6,808) 13,104
(Decrease) increase in customer deposits 1,221 (534)
Net cash used in operating activities (37,330) (12,302)
Cash flows from investing activities:    
Purchase consideration paid for acquisitions, net of cash acquired (15,646) (1,841)
Purchases of property and equipment, net (4,400) (1,788)
Proceeds from sale of assets held for sale 675 0
Purchase of intangible assets, net (320) (515)
Net cash used in investing activities (19,691) (4,144)
Cash flows from financing activities:    
Member distributions (200) (604)
Proceeds from issuance of Class A common stock and pre-funded warrants, net of costs 32,643 0
Proceeds from exercise of stock options and warrants 307 0
Proceeds from issuance of note payable to related party, net of costs 7,868 0
Repayments of notes payable (1,075) (190)
Debt issuance costs (220) 0
Other (360) (269)
Net cash provided by (used in) financing activities 38,963 (1,063)
Effects of exchange rate changes on cash 480 171
Net (decrease) in cash (17,578) (17,338)
Cash, as of beginning of the period 30,435 47,773
Cash, as of end of the period 12,857 30,435
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 574 437
Cash paid during the period for income taxes 39 192
Cash paid for amounts included in the measurement of lease liabilities 1,978 1,252
Lease liabilities arising from obtaining finance lease assets 119 272
Lease liabilities arising from obtaining operating lease right-of-use assets, net of the effect of acquisitions 0 793
Non-cash investing and financing activities:    
Issuance of Class A common stock for business acquisitions 141,960 1,988
Non-cash purchases of property and equipment 1,659 98
Issuance of promissory notes for Eyce and DaVinci business acquisitions 7,500 0
Decrease in non-controlling interest as a result of exchanges for Class A common stock (12,247) (4,962)
Unpaid contingent purchase consideration $ 6,857 $ 0