Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (11,975) $ (11,194)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation expense 3,901 3,041
Amortization expense 4,802 5,527
Amortization of debt issuance costs 286 303
Lease incentives 2,268 0
Loss on disposal of businesses 600 673
Non-cash operating lease expense 5,857 4,085
Equity-based compensation 3,902 3,851
Changes in operating assets and liabilities:    
Accounts receivable, net (16,625) (914)
Inventory 5,140 (18,954)
Prepaid expenses and other current assets 2,304 2,757
Accounts payable 12,957 4,874
Income taxes payable (1,097) (1,533)
Accrued liabilities 276 4,593
Sales returns reserve 2,124 (1,568)
Deferred revenue 490 4,253
Lease liabilities (5,197) (3,992)
Net cash provided by (used in) operating activities 10,013 (4,198)
Cash flows from investing activities:    
Purchases of intangible assets 0 (5)
Purchases of property and equipment (7,922) (2,726)
Net cash used in investing activities (7,922) (2,731)
Cash flows from financing activities:    
Proceeds from line of credit, net of issuance costs 27,300 24,500
Repayment of line of credit (26,300) (10,000)
Repayment of debt (4,200) (1,200)
Taxes paid related to net share settlement of equity awards (376) (202)
Proceeds from issuances under equity-based compensation plans 126 93
Repurchase of shares (367) (1,189)
Net cash (used in) provided by financing activities (3,817) 12,002
Effect of exchange rate changes on cash, cash equivalents and restricted cash 816 (1,310)
Net (decrease) increase in cash, cash equivalents and restricted cash (910) 3,763
Cash, cash equivalents and restricted cash at beginning of period 26,479 24,029
Cash, cash equivalents and restricted cash at end of period 25,569 27,792
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 23,105 25,466
Restricted cash, included in prepaid expenses and other current assets 590 582
Restricted cash, included in other assets 1,874 1,744
Total cash, cash equivalents and restricted cash $ 25,569 $ 27,792