Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES:    
Net loss $ (84,200,000) $ (128,700,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization expense 122,800,000 132,400,000
Stock-based compensation expense 17,700,000 24,800,000
Amortization of debt issuance costs 5,000,000.0 2,700,000
Provision for doubtful accounts 1,500,000 (200,000)
Inventory obsolescence write down 1,700,000 800,000
Change in deferred income taxes (27,300,000) (32,300,000)
Loss on disposal of property, plant and equipment 300,000 300,000
Loss on foreign currency transactions 1,000,000.0 7,900,000
Increase (decrease) in fair values of warrant liabilities 6,300,000 (27,500,000)
Amortization of inventory step-up 0 6,300,000
Goodwill impairment 0 55,200,000
Loss on disposal of business 6,500,000 0
Other (600,000) 100,000
Changes in operating assets and liabilities:    
Accounts receivable 15,300,000 20,000,000.0
Costs in excess of billings on uncompleted contracts (16,400,000) (17,400,000)
Inventories (14,800,000) (35,900,000)
Prepaid expenses and other current assets (800,000) (6,200,000)
Accounts payable (15,300,000) (1,900,000)
Accrued expenses and other current liabilities (700,000) 2,300,000
Deferred contract revenue and liabilities 7,700,000 2,800,000
Other assets 1,200,000 8,200,000
Other liabilities 1,300,000 500,000
Net cash provided by operating activities 28,200,000 14,200,000
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (800,000) (6,200,000)
Net increase (decrease) in cash, cash equivalents, and restricted cash 27,100,000 (25,500,000)
Cash, cash equivalents, and restricted cash at beginning of period 75,000,000.0 85,300,000
Cash, cash equivalents, and restricted cash at end of period 102,100,000 59,800,000
INVESTING ACTIVITIES:    
Acquisitions of businesses, net of cash and cash equivalents acquired 0 (6,600,000)
Proceeds from sale of business 1,000,000.0 0
Purchases of property, plant, and equipment and badges (25,200,000) (22,700,000)
Proceeds from net investment hedge derivative contracts 2,900,000 0
Sales of property, plant, and equipment 0 800,000
Other investing (1,000,000.0) 0
Net cash used in investing activities (22,300,000) (28,500,000)
FINANCING ACTIVITIES:    
Issuances of common stock 150,000,000.0 0
Common stock issuance costs (200,000) 0
Stock repurchased to satisfy tax withholding for vesting restricted stock units (400,000) 0
Principal repayments (127,300,000) (4,600,000)
Proceeds from net cash flow hedge derivative contracts 300,000 0
Other financing (400,000) (400,000)
Net cash provided by (used in) financing activities $ 22,000,000.0 $ (5,000,000.0)