Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES:    
Net loss $ (128,700,000) $ (141,300,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Accrual of in-kind interest on notes payable to related parties 0 96,800,000
Depreciation and amortization expense 132,400,000 70,100,000
Stock-based compensation expense 24,800,000 (100,000)
Amortization of debt issuance costs 2,700,000 2,700,000
Provision for doubtful accounts (200,000) 1,700,000
Inventory obsolescence write down 800,000 500,000
Change in deferred income taxes (32,300,000) 1,900,000
Loss on disposal of property, plant and equipment 300,000 0
Loss (gain) on foreign currency transactions 7,900,000 (4,300,000)
Decrease in fair values of warrant liabilities (27,500,000) 0
Amortization of deferred revenue step-down 0 11,700,000
Amortization of inventory step-up 6,300,000 4,700,000
Goodwill impairment 55,200,000 0
Other 100,000 3,400,000
Changes in operating assets and liabilities:    
Accounts receivable 20,000,000.0 2,400,000
Costs in excess of billings on uncompleted contracts (17,400,000) (9,800,000)
Inventories (35,900,000) (2,300,000)
Prepaid expenses and other current assets (6,200,000) (5,200,000)
Accounts payable (1,900,000) 7,200,000
Accrued expenses and other current liabilities 2,300,000 (6,300,000)
Deferred contract revenue 2,800,000 5,100,000
Other assets 8,200,000 (2,200,000)
Other liabilities 500,000 8,100,000
Net cash provided by operating activities 14,200,000 44,800,000
INVESTING ACTIVITIES:    
Acquisitions of businesses, net of cash and cash equivalents acquired (6,600,000) (15,900,000)
Purchases of property, plant, and equipment and badges (22,700,000) (22,700,000)
Sales of property, plant, and equipment 800,000 0
Net cash used in investing activities (28,500,000) (38,600,000)
FINANCING ACTIVITIES:    
Borrowings from notes payable to third-parties, net of discount and issuance costs 0 1,900,000
Principal repayments (4,600,000) (12,200,000)
Other financing (400,000) 0
Net cash used in financing activities (5,000,000.0) (10,300,000)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (6,200,000) (2,700,000)
Net decrease in cash, cash equivalents, and restricted cash (25,500,000) (6,800,000)
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 $ 59,800,000 $ 101,900,000