v3.25.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net (loss) income $ (3,267) $ 1,067
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation 1,488 1,203
Equity-based compensation 2,369 2,587
Non-cash operating lease cost 1,561 1,281
Amortization of debt issuance costs 70 69
Deferred tax (benefit) expense (131) 73
Other 117 (65)
Changes in assets and liabilities:    
Inventories (1,673) (1,051)
Prepaid expenses and other current assets 661 15
Other assets (184) (312)
Accounts payable, accrued expenses and other current liabilities (10,649) (12,544)
Deferred revenue 4,173 3,259
Operating lease liabilities (1,662) (1,372)
Net cash used in operating activities (7,127) (5,790)
Investing activities    
Purchases of property and equipment (727) (562)
Net cash used in investing activities (727) (562)
Financing activities    
Payments on SVB term loan (1,220) (813)
Repurchases of common stock (163) (100)
Payment of debt issuance costs 0 (100)
Tax distributions to members (5,349) (988)
Net cash used in financing activities (6,732) (2,001)
Net decrease in cash, cash equivalents and restricted cash (14,586) (8,353)
Cash, cash equivalents and restricted cash at beginning of period 162,141 156,020
Cash, cash equivalents and restricted cash at end of period 147,555 147,667
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 147,338 147,454
Restricted cash 217 213
Total cash, cash equivalents, and restricted cash 147,555 147,667
Non-cash investing and financing activities    
Right-of-use assets obtained in exchange for new operating lease liabilities 3,700 3,441
Change in deferred tax assets associated with redemption of LLC Units (1) (177)
TRA Obligation associated with redemption of LLC Units 2 (13)
Purchases of property and equipment included in accounts payable and accrued liabilities 428 273
Change in APIC related to redemption of LLC Units $ 0 $ (164)