v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES    
Net loss $ (17,772) $ (13,834)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 10,218 9,807
Stock-based compensation 9,111 5,738
Accretion of acquisition installment payable 98 537
Deferred income taxes 245 (2,955)
Non-cash other (100) 0
Changes in certain operating assets and liabilities:    
Accounts receivable - trade (11,381) (4,583)
Inventories (8,899) (10,420)
Prepaid expenses and other current assets (501) (403)
Accounts payable - trade 3,720 4,150
Accrued expenses and other liabilities 2,509 959
Other (1,866) (1,778)
Net cash used in operating activities (14,618) (12,782)
INVESTING ACTIVITIES    
Acquisition of Boston O&P, net of cash acquired 0 (20,693)
Clinic acquisition, net of cash acquired (320) 0
Sale of short-term marketable securities 0 49,855
Investment in private companies (1,540) 0
Purchases of property and equipment (7,672) (13,144)
Net cash (used in) provided by investing activities (9,532) 16,018
FINANCING ACTIVITIES    
Proceeds from issuance of debt 25,000 0
Payments on mortgage notes (78) (71)
Payment of debt issuance costs 0 (343)
Net cash provided by (used in) financing activities 24,674 (4,842)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 304 (531)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 828 (2,137)
Cash, cash equivalents and restricted cash, beginning of year 45,777 33,027
Cash, cash equivalents and restricted cash, end of period 46,605 30,890
SUPPLEMENTAL DISCLOSURES    
Cash paid for interest 2,552 760
Transfer of instruments between property and equipment and inventory 651 281
Right-of-use assets obtained in exchange for lease liabilities 3,311 0
Capital contribution associated with reclassification of MedTech liability to equity 2,062 0
Debt issuance costs not yet paid 0 67
Mighty Oak    
SUPPLEMENTAL DISCLOSURES    
Issuance of common shares in acquisition 1,261 0
ApiFix Ltd    
FINANCING ACTIVITIES    
Installment payments 0 (2,250)
SUPPLEMENTAL DISCLOSURES    
Issuance of common shares in acquisition 0 6,929
Medtech    
FINANCING ACTIVITIES    
Installment payments 0 (1,250)
SUPPLEMENTAL DISCLOSURES    
Issuance of common shares in acquisition 226 133
Clinic Acquisitions    
FINANCING ACTIVITIES    
Installment payments (248) (928)
Boston Brace International, Inc    
SUPPLEMENTAL DISCLOSURES    
Issuance of common shares in acquisition $ 233 $ 0