v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2019
Mar. 31, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES              
Net (loss) income $ 2,557 $ (6,978) $ 2,143 $ (2,424) $ (11,245) $ 1,710  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation         18,705 15,200  
Loss on disposal of assets         371 451  
Loss on extinguishment of debt 0   0   1,400 1,018 $ 1,400
Loss on termination of cash flow hedge 0   0   3,506 0  
Amortization of intangibles 2,500   2,400   7,387 7,482  
Amortization of debt issue costs         138 323  
Amortization of convertible debt discount         2,705 0  
Non-cash stock-based compensation         7,536 7,727  
Non-cash operating lease expense         6,365 3,224  
Changes in assets and liabilities, net              
Accounts receivable, net         (9,455) (14,219)  
Inventories         (5,704) (3,982)  
Prepaid and other assets         (4,189) (1,013)  
Prepaid lease asset         (10,142) 0  
Other current assets         (2,568) (381)  
Accounts payable, accrued and other liabilities         (9,335) 2,470  
Net cash (used in) provided by operating activities         (4,525) 20,010  
CASH FLOWS FROM INVESTING ACTIVITIES              
Purchases of marketable securities         (53,396) 0  
Proceeds from sale of marketable securities         3,000 0  
Purchases of property and equipment         (17,591) (13,953)  
Business acquisition         (37,000) 0  
Investment in non-consolidated affiliate         (25,600) 0  
Acquisition working capital adjustment         0 399  
Net cash used in investing activities         (130,587) (13,554)  
CASH FLOWS FROM FINANCING ACTIVITIES              
Repayment of revolving credit facility         0 (5,000)  
Repayment of equipment financing obligations         (4,331) (5,481)  
Proceeds from term loan         0 100,000  
Repayment of term loan         (97,540) (96,750)  
Cash flow hedge termination         (3,317) 0  
Payments of debt issuance costs         0 (1,051)  
Issuance of common stock, net         10,761 10,132  
Proceeds from issuance of convertible debt, net of issuance costs         194,466 0  
Proceeds from equity offering, net of issuance costs         127,293 160,774  
Net cash provided by financing activities         227,332 162,624  
Net change in cash, cash equivalents and restricted cash         92,220 169,080  
Cash, cash equivalents and restricted cash, beginning of period   $ 173,016   $ 9,811 173,016 9,811 9,811
Cash, cash equivalents and restricted cash, end of period 265,236   178,891   265,236 178,891 173,016
Cash and cash equivalents 233,233   178,891   233,233 178,891 173,016
Restricted cash, non-current $ 32,003   $ 0   32,003 0 $ 0
Supplemental disclosure of cash flow information:              
Interest paid         1,638 4,295  
Income taxes paid, net         209 316  
Supplemental disclosure of non-cash investing and financing information:              
Working capital adjustment related to acquisition         0 1,977  
Equipment acquired under financing obligations         428 3,665  
Property and equipment included in accounts payable         $ 3,521 $ 810  

Source