v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ (13,025) $ 27,019
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 13,686 9,935
Amortization of deferred loan costs 421 324
Gain on sale of assets, net 0 (192)
Loss on derivative instruments, net 490 527
Gain on extinguishment of debt, net 0 (38,148)
Loss from equity method investment 330 0
Provision for credit losses 695 397
Non-cash stock-based compensation expense 973 575
Other non-cash items 179 (3)
Changes in operating assets and liabilities:    
Accounts receivable, net 1,807 (2,726)
Prepaid expenses 805 1,063
Other assets, net (62) (41)
Accounts payable and accrued expenses (3,476) (3,123)
Federal and state income taxes payable 69 73
Deferred income 1,043 214
Customer deposits (112) 1
Net cash provided by (used in) operating activities 3,823 (4,105)
Cash flows from investing activities:    
Return of investment in unconsolidated entity 392 0
Capital expenditures (8,337) (5,762)
Proceeds from sale of assets 0 631
Net cash used in investing activities (7,945) (5,131)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 0 47,641
Proceeds from notes payable 0 24,830
Repayments of notes payable (918) (41,999)
Distributions to noncontrolling investors in joint ventures (132) 0
Purchase of derivative assets 0 (554)
Dividends paid on Series A convertible preferred stock (1,409) 0
Deferred loan costs paid (38) (549)
Other financing costs (51) (220)
Net cash provided by (used in) financing activities (2,548) 29,149
Increase (decrease) in cash and cash equivalents and restricted cash (6,670) 19,913
Cash, cash equivalents, and restricted cash at beginning of period 39,087 17,750
Cash, cash equivalents, and restricted cash at end of period 32,417 37,663
Cash paid during the period for:    
Interest 8,806 6,353
Income taxes paid (refunds received), net 7 (7)
Non-cash investing and financing activities:    
Undeclared dividends on Series A convertible preferred stock 0 1,335
Non-cash additions of property and equipment 1,412 498
Non-cash right-of-use assets $ 643 $ 0