v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (4,701) $ (8,959)
Adjustments to reconcile net loss to net cash used in operating activities:    
Provision for credit losses 422 1,509
Depreciation and amortization 3,459 3,648
Write-off and amortization of debt issuance costs 450 158
Share-based compensation expense 5,740 5,094
Loss on disposal of property and equipment 31 118
Changes in operating assets and liabilities:    
Accounts receivable 6,718 (17,718)
Inventory (19,031) 1,320
Prepaid expenses and other assets (6,826) (18,449)
Accounts payable 18,958 12,520
Accounts payable - Meisheng (related party) (12,706) 6,254
Accrued expenses (2,878) (565)
Reserve for sales returns and allowances (6,701) (9,075)
Income taxes payable (2,610) (3,589)
Other liabilities 3,744 68
Total adjustments (11,230) (18,707)
Net cash used in operating activities (15,931) (27,666)
Cash flows from investing activities    
Purchases of property and equipment (4,470) (4,627)
Investments in employee deferred compensation trusts (1,545) (1,549)
Proceeds from sale of property and equipment 0 2
Net cash used in investing activities (6,015) (6,174)
Cash flows from financing activities    
Repurchase of common stock for employee tax withholding (3,828) (5,131)
Proceeds from credit facility borrowings 0 5,000
Redemption of preferred stock 0 (20,000)
Cash dividend paid (5,572) 0
Net cash used in financing activities (9,400) (20,131)
Net decrease in cash, cash equivalents and restricted cash (31,346) (53,971)
Effect of foreign currency translation 4,265 (681)
Cash, cash equivalents and restricted cash, beginning of period 70,137 72,554
Cash, cash equivalents and restricted cash, end of period 43,056 17,902
Supplemental disclosure of non-cash activities:    
Right-of-use assets exchanged for lease liabilities 5,068 3,690
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net 2,199 13,093
Cash paid for interest $ 0 $ 104