v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss (including amounts attributable to non-controlling interest) $ (112,445) $ (42,269)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,876 2,385
Equity-based compensation expense 2,020 4,762
Goodwill and indefinite-lived intangibles impairment 66,760 0
Change in fair value of contingent consideration (1,197) 755
Change in provision for doubtful accounts 2,637 318
Gain related to indemnification asset (2,018) (1,692)
(Gain) loss on disposal of fixed assets 820 109
(Gain) loss on disposal of held-for-sale assets (780) 97
Gain related to VIBES disposition / deconsolidation (Note 3) (2,062) 0
Unrealized loss on equity investments 1,214 305
Realized (gain) loss on interest rate swap contract (408) 0
Amortization of deferred financing costs and debt discount 446 15
Other (17) 7
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Decrease (increase) in accounts receivable 247 (2,092)
Decrease (increase) in inventories 19,044 9,723
Decrease (increase) in vendor deposits 5,027 (661)
Decrease (increase) in other current assets 1,257 9,985
(Decrease) increase in accounts payable (5,384) (7,673)
(Decrease) Increase in accrued expenses and other liabilities (1,124) (5,957)
(Decrease) increase in customer deposits (3,401) (145)
Net cash used in operating activities (22,488) (32,028)
Cash flows from investing activities:    
Purchase consideration paid for acquisitions, net of cash acquired 0 (12,284)
Proceeds from VIBES disposition (Note 3) 4,567 0
Purchases of property and equipment, net (1,660) (2,327)
Proceeds from sale of assets held for sale 9,593 675
Purchase of intangible assets, net 0 (320)
Net cash provided by (used in) investing activities 12,500 (14,256)
Cash flows from financing activities:    
Proceeds from issuance of Class A common stock, net of costs 14,064 29,539
Proceeds from exercise of stock options and warrants 0 268
Proceeds from Asset-Based Loan 14,550 0
Debt issuance costs (1,472) (100)
Payments on Eyce and DaVinci promissory notes (2,791) (294)
Payments on Real Estate Note (7,958) (120)
Repayment of Bridge Loan (8,000) 0
Proceeds from termination of interest rate swap 145 0
Purchase consideration paid for Eyce LLC acquisition (875) 0
Member distributions 0 (200)
Other (128) (222)
Net cash provided by financing activities 7,535 28,871
Effects of exchange rate changes on cash and restricted cash (210) 193
Net (decrease) in cash and restricted cash (2,663) (17,220)
Cash and restricted cash, as of beginning of the period 12,857 30,435
Cash and restricted cash, as of end of the period 10,194 13,215
Cash, beginning of the period 12,857 30,435
Restricted cash, beginning of the period 0 0
Cash, ending of the period 8,039 13,215
Restricted cash, ending of the period 2,155 0
Supplemental disclosures of cash flow information    
Cash paid for amounts included in the measurement of lease liabilities 2,120 1,093
Lease liabilities arising from obtaining finance lease assets 0 119
Non-cash investing and financing activities:    
Non-cash purchases of property and equipment 1,617 381
Issuance of Class A common stock for business acquisitions 3,486 125,496
Issuance of warrants and stock options for acquisition 0 13,182
Issuance of promissory note for business acquisition 0 2,503
Issuance of contingent consideration for acquisition 0 1,828
Decrease in non-controlling interest as a result of exchanges for Class A common stock (10,291) (12,150)
Decrease in non-controlling interest as a result of VIBES disposition $ (1,789) $ 0