Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net Loss $ (16,215) $ (26,421) $ (35,747)
Adjustments to Reconcile Net Loss to Cash from Operating Activities:      
Depreciation and Amortization 24,466 26,104 27,777
Amortization of Deferred Financing Fees 3,194 3,023 0
Provisions for Non-Cash Losses on Inventory and Receivables 13,782 16,003 3,415
Equity-based Compensation Expense 8,571 7,198 6,497
Loss on Extinguishment of Debt 10,148 0 0
Deferred Tax (Benefit) Expense (20) 146 19
Operating Lease Non-cash Expense 5,175 5,088 6,028
Non-cash 401K Contribution and Quarterly Bonus Accrual 3,454 6,549 4,512
Non-cash Annual Stock Bonus Accrual 0 2,806 0
Net Gain on Sale of Business, Before Taxes 0 (3,427) (11,284)
Non-cash Litigation Provision Adjustment 4,468 (1,305) 500
Non-cash Deferred Liability Recovery 0 (5,824) 0
Other 5,807 1,913 3,086
Changes in Operating Assets and Liabilities:      
Accounts Receivable (21,983) (31,872) (41,646)
Inventories (21,551) (13,283) (34,058)
Accounts Payable (17,693) (4,495) 27,843
Accrued Expenses 21,987 4,634 1,193
Income Taxes 4,498 (1,949) 16,134
Customer Advanced Payments and Deferred Revenue 5,693 (4,835) 5,264
Operating Lease Liabilities (5,125) (4,880) (7,295)
Supplemental Retirement Plan Liabilities (410) (408) (405)
Other Assets and Liabilities 2,320 1,285 (145)
Net Cash from Operating Activities 30,566 (23,950) (28,312)
Cash Flows from Investing Activities      
Proceeds from Sale of Businesses and Assets 0 3,537 22,061
Capital Expenditures (8,428) (7,643) (7,675)
Net Cash from Investing Activities (8,428) (4,106) 14,386
Cash Flows from Financing Activities      
Proceeds from Long-term Debt 377,392 139,732 125,825
Principal Payments on Long-term Debt (374,890) (131,233) (124,825)
Stock Award and Employee Stock Purchase Plan (“ESPP”) activity (241) 2,476 97
Proceeds from At-the-Market (“ATM”) Stock Sales 0 21,269 0
Financing-Related Costs (12,150) (6,762) (2,416)
Financing Extinguishment Costs (4,496) 0 0
Other (145) (47) (93)
Net Cash from Financing Activities (14,530) 25,435 (1,412)
Effect of Exchange Rates on Cash (493) 156 (641)
Increase (Decrease) in Cash and Cash Equivalents and Restricted Cash 7,115 (2,465) (15,979)
Cash and Cash Equivalents and Restricted Cash at Beginning of Year 11,313 13,778 29,757
Cash and Cash Equivalents and Restricted Cash at End of Year 18,428 11,313 13,778
Supplemental Disclosure of Cash Flow Information      
Interest Paid 19,238 17,689 7,605
Income Taxes Paid, Net of Refunds $ 3,537 $ 1,964 $ (9,978)