Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES:    
Net loss $ (78,300,000) $ (94,700,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Accrual of in-kind interest on notes payable to related parties 0 64,000,000.0
Depreciation and amortization expense 89,800,000 49,000,000.0
Stock-based compensation expense 16,400,000 (100,000)
Amortization of debt issuance costs 2,300,000 1,800,000
Provision for doubtful accounts 0 1,400,000
Inventory obsolescence write down 500,000 500,000
Change in deferred income taxes (21,800,000) 4,800,000
Loss on disposal of property, plant and equipment (400,000) (100,000)
Loss (gain) on foreign currency transactions 4,800,000 (2,900,000)
Change in fair values of warrant liabilities (39,500,000) 0
Amortization of deferred revenue step-down 0 8,000,000.0
Amortization of inventory step-up 6,300,000 4,700,000
Goodwill impairment 55,200,000 0
Other 100,000 1,600,000
Changes in operating assets and liabilities:    
Accounts receivable 25,500,000 (11,800,000)
Costs in excess of billings on uncompleted contracts (16,900,000) (5,200,000)
Inventories (18,300,000) 2,500,000
Prepaid expenses and other current assets 0 (2,900,000)
Accounts payable 300,000 6,300,000
Accrued expenses and other current liabilities 1,500,000 600,000
Deferred contract revenue (3,300,000) (1,200,000)
Other assets 100,000 (2,900,000)
Other liabilities 3,700,000 10,300,000
Net cash provided by operating activities 28,000,000.0 33,700,000
INVESTING ACTIVITIES:    
Acquisitions of businesses, net of cash and cash equivalents acquired 0 (15,000,000.0)
Purchases of property, plant, and equipment and badges (15,300,000) (13,900,000)
Sales of property, plant, and equipment 800,000 0
Net cash used in investing activities (14,500,000) (28,900,000)
FINANCING ACTIVITIES:    
Principal repayments (2,100,000) (9,900,000)
Other financing (300,000) 0
Net cash used in financing activities (2,400,000) (9,900,000)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (4,400,000) (1,200,000)
Net increase (decrease) in cash, cash equivalents, and restricted cash 6,700,000 (6,300,000)
Cash, cash equivalents, and restricted cash at beginning of period 85,300,000 108,700,000
Cash, cash equivalents, and restricted cash at end of period $ 92,000,000.0 $ 102,400,000