v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Operating activities:          
Net loss $ (11,943) $ 156,721 $ (13,291) $ 303,581  
Adjustments to reconcile net (loss) income to net cash provided by operating activities:          
Depreciation 2,815 1,892 4,895 3,747  
Amortization of intangible assets     13,617 11,779  
Amortization of operating lease right-of-use assets     4,193 2,639  
Amortization of deferred financing costs     1,448 1,410  
Stock-based compensation expense     15,259 7,935  
Loss on extinguishment of debt 0 0 0 208  
Deferred income taxes     (4,276) 26,073  
Change in estimated fair value of contingent consideration (2,316) (7,800) (2,316) (7,800) $ (7,800)
Revaluation of liabilities under the Tax Receivable Agreement (101) 0 1,335 (2,340)  
Other     (3,489) (1,283)  
Changes in operating assets and liabilities:          
Accounts receivable     89,968 (2,332)  
Inventory     4,328 (7,502)  
Prepaid expenses and other assets     (1,718) (10,052)  
Accounts payable     1,639 6,310  
Accrued expenses and other current liabilities     6,582 (1,773)  
Deferred revenue     (652) (4,776)  
Other long-term liabilities     (13,254) 759  
Net cash provided by operating activities     104,268 326,583  
Investing activities:          
Cash paid for acquisition of a business, net of cash acquired     (69,622) (238,836)  
Purchases of property and equipment     (32,927) (4,409)  
Proceeds from government assistance allocated to property and equipment     8,662 0  
Net cash used in investing activities     (93,887) (243,245)  
Financing activities:          
Distributions for tax liabilities to non-controlling interest holders     (9,607) (82,477)  
Proceeds from borrowings of long-term debt     0 8,455  
Principal repayments of long-term debt     (2,720) (11,175)  
Payments of finance lease liabilities (66) 0 (66) 0  
Proceeds from derivative instruments     1,890 0  
Payment of acquisition consideration holdback     (9,706) 0  
Proceeds from issuance of Class A common stock under employee equity plans, net of shares withheld for employee taxes     19 1,263  
Net cash used in financing activities     (62,343) (83,934)  
Net (decrease) increase in cash including cash classified within current assets held for sale     (51,962) (596)  
Cash and cash equivalents, beginning of period     632,138 551,272 551,272
Cash and cash equivalents, end of period 580,176 550,676 580,176 550,676 $ 632,138
Supplemental cash flow information:          
Cash paid for interest     20,608 6,132  
Cash (refunded) paid for income taxes, net     (72) 13,856  
Supplemental disclosures of non-cash activities:          
Property and equipment included in accounts payable and accrued expenses     2,763 2,145  
Accrued receivable for capital expenditures to be reimbursed under a government contract     232 0  
Right-of-use assets obtained in exchange for new finance lease liabilities 15,795 0 32,862 0  
Right-of-use assets obtained in exchange for new operating lease liabilities $ 0 $ 0 3,931 773  
Fair value of contingent consideration liability recorded in connection with acquisition of a business     5,289 7,800  
Accrued consideration payable for MyChem acquisition     0 10,000  
MLSH 1          
Financing activities:          
Payments pursuant to the Tax Receivable Agreement     (35,661) 0  
MLSH 2          
Financing activities:          
Payments pursuant to the Tax Receivable Agreement     $ (6,492) $ 0  

Source

HTML PDF
ZIP