Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES    
Net (loss) income $ (73,937) $ 781
Adjustments to reconcile net (loss) income to net cash provided by operating activities    
Goodwill impairment 55,168 0
Provision for bad debts 32 37
Depreciation and amortization 9,174 4,279
Gain on extinguishment of debt 0 (2,237)
Deferred income taxes (447) 740
Share-based compensation 8,285 3,117
Forfeited franchise deposits (433) (67)
Gain on change in value of warrant liability (1,324) (7,673)
Loss on disposal of property and equipment 385 0
Non-cash lease cost 112 0
Other non-cash interest 2,290 0
Changes in operating assets and liabilities    
Accounts receivable 270 121
Inventory 35 5
Other assets 225 (56)
Accounts payable - trade 2,120 928
Accrued expenses and other current liabilities 1,895 899
Other long-term liabilities 38 380
NET CASH PROVIDED BY OPERATING ACTIVITIES 3,888 1,254
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (1,056) (3,839)
Proceeds from the sale of property and equipment 1,025 0
NET CASH USED IN INVESTING ACTIVITIES (31) (3,839)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on borrowings (1,667) (3,041)
Debt issuance costs (164) 0
Repayments of finance leases (82) 0
Tax payments for restricted stock upon vesting (1,086) 0
NET CASH USED IN FINANCING ACTIVITIES (2,999) (3,041)
NET INCREASE (DECREASE) IN CASH 858 (5,626)
CASH, beginning of period 14,889 40,383
CASH, end of period 15,747 34,757
Supplemental cash flow disclosures:    
Cash paid for interest $ 1,454 $ 0