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 $ (52,287) $ (10,146) $ (69,780)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation of property and equipment 4,034 7,602 7,626
Amortization of other intangible assets 9,784 12,748 15,326
Impairment of goodwill 36,264 0 52,071
Impairment of indefinite-lived intangible assets 8,545 0 40,240
Gain on sale of business (40,585)    
Accretion of notes payable 10    
Amortization of debt issuance costs 1,209 928 824
Loss (gain) on disposition of property and equipment 269 54 (81)
Noncash lease expense 3,155 3,741 3,081
Contingent consideration (benefit) expense (125) (1,565) 451
Stock-based compensation 5,829 5,292 11,361
Deferred income taxes 16,182 (6,348) (9,523)
Changes in operating assets and liabilities, net of disposition:      
Accounts receivable 10,844 6,078 (8,326)
Inventories 3,743 13,211 (19,487)
Prepaid and other assets 640 2,134 1,150
Accounts payable (7,965) (4,940) 1,371
Accrued liabilities (6,075) 540 (5,037)
Income taxes (771) 2,595 (6,657)
Net cash (used in) provided by operating activities (7,300) 31,924 14,610
Cash Flows From Investing Activities:      
Proceeds from the sale of business 175,674    
Purchase of businesses, net of cash acquired (3,840) (5,648)  
Proceeds from disposition of property and equipment 315 199 499
Purchase of intangible assets (250) (250)  
Purchases of property and equipment (6,739) (5,717) (8,250)
Net cash provided by (used in) investing activities 165,160 (11,416) (7,751)
Cash Flows From Financing Activities:      
Proceeds from revolving credit facilities 31,205 51,243 95,611
Repayments on revolving credit facilities (41,580) (59,835) (96,064)
Repayments on term loans and other debt (109,459) (11,126) (126,810)
Proceeds from issuance of term loans and other debt 46   125,000
Payment of debt issuance costs     (1,385)
Purchase of treasury stock (185) (222) (8,267)
Proceeds from exercise of options 565 3,435 2,721
Cash dividends paid (3,831) (3,750) (3,721)
Payment of contingent consideration     (943)
Net cash used in financing activities (123,239) (20,255) (13,858)
Effect of foreign exchange rates on cash (586) (990) (405)
Change in cash 34,035 (737) (7,404)
Cash, beginning of year 11,324 12,061 19,465
Cash, end of period 45,359 11,324 12,061
Supplemental Disclosure of Cash Flow Information:      
Cash paid (received) for income taxes 2,463 (758) 8,639
Cash paid for interest 1,957 10,398 6,586
Supplemental Disclosures of Non-Cash Investing and Financing Activities:      
Shares issued for business acquisitions   3,132 2,261
Debt issued for business acquisition 1,878    
Contingent consideration for business acquisitions 609 121  
Property and equipment purchased with accounts payable 167 145 541
Intangible assets purchased with accounts payable   250  
Lease liabilities arising from obtaining right-of-use assets $ 2,530 $ 4,441 $ 1,405