v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 1 Months Ended 2 Months Ended 3 Months Ended
Mar. 31, 2026
Mar. 05, 2026
Mar. 31, 2025
Cash flows from operating activities      
Net income (loss) $ (1,253) $ 107,879 $ (7,061)
Adjustments to reconcile net income (loss) to net cash used in operating activities      
Depreciation 2,205 3,963 5,837
Amortization of intangibles 68 1,984 2,796
Amortization of operating leases 1,048 2,930 3,418
Amortization of deferred financing costs and non-cash interest 134 2,421 2,087
Provision for (recovery of) doubtful accounts 0 82 34
Provision for inventory obsolescence 0 2,462 611
Stock-based compensation expense 0 1,890 750
Loss (gain) on sale of property and equipment (37) (147) 446
Loss on revaluation of contingent liability 0 0 25
Non-cash reorganization items, net 0 (139,231) 0
Changes in operating assets and liabilities      
Accounts receivable, net (9,163) (3,211) (13,967)
Inventories, net (183) 2,059 (928)
Prepaid expenses and other current assets 17 1,658 (448)
Accounts payable and accrued expenses 5,176 8,883 4,699
Income taxes receivable/payable (91) 109 98
Operating lease obligations (296) (3,674) (3,372)
Other assets and liabilities (41) (8) (302)
Net cash used in operating activities (2,416) (9,951) (5,277)
Cash flows from investing activities      
Proceeds from sales of property and equipment 15 286 0
Proceeds from property and equipment casualty losses 25 628 0
Purchases of property and equipment (3,482) (2,950) (3,981)
Net cash used in investing activities (3,442) (2,036) (3,981)
Cash flows from financing activities      
Proceeds from revolving credit facilities 0 0 4,000
Payments on revolving credit facilities 0 0 (4,000)
Proceeds from Prepetition ABL Facility 0 3,000 0
Payments of Prepetition ABL Facility 0 (67,349) 0
Proceeds from DIP ABL Facility 0 79,495 0
Payments of DIP ABL Facility 0 (82,568) 0
Proceeds from Exit ABL Facility 0 89,479 0
Payments of short-term debt (782) (1,550) (1,320)
Principal payments on finance leases (5) (11) (13)
Payments of contingent liability 0 0 (223)
Net cash provided by (used in) financing activities (787) 20,496 (1,556)
Impact of foreign currency exchange on cash 70 89 209
Net increase (decrease) in cash, cash equivalents, and restricted cash (6,575) 8,598 (10,605)
Cash, cash equivalents, and restricted cash      
Cash, cash equivalents, and restricted cash at beginning of period 28,440 19,842 27,880
Cash, cash equivalents, and restricted cash at end of period 21,865 28,440 17,275
Supplemental disclosures of cash flow information:      
Cash paid for interest 29 72 20,641
Cash paid for income taxes 0 0 3
Right of use assets obtained in exchange for operating lease obligations 2,111 589 2,611
Supplemental schedule of non-cash investing and financing activities:      
Right of use assets obtained in exchange for finance lease obligations 0 60 26
Capital expenditures in accounts payable and accrued expenses $ 1,788 $ 1,547 $ 1,218