v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 2 Months Ended 4 Months Ended 6 Months Ended
Mar. 05, 2026
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities      
Net income (loss) $ 107,879 $ (6,143) $ (17,452)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Depreciation 3,963 9,243 11,633
Amortization of intangibles 1,984 273 5,592
Amortization of operating leases 2,930 4,666 7,135
Amortization of deferred financing costs and non-cash interest 2,421 2,039 6,322
Provision for doubtful accounts 82 4 51
Provision for inventory obsolescence 2,462 203 1,135
Stock-based compensation expense 1,890 573 1,289
Loss (gain) on sale of property and equipment (147) (60) 366
Loss on revaluation of contingent liability 0 0 73
Non-cash reorganization items, net (139,231) 0 0
Changes in operating assets and liabilities      
Accounts receivable, net (3,211) (12,506) (12,834)
Inventories, net 2,059 1,371 (4,340)
Prepaid expenses and other current assets 1,658 1,505 592
Accounts payable and accrued expenses 8,883 (2,250) 12,633
Income taxes receivable/payable 109 (78) 417
Operating lease obligations (3,674) (3,902) (7,068)
Other assets and liabilities (8) 350 (733)
Net cash provided by (used in) operating activities (9,951) (4,712) 4,811
Cash flows from investing activities      
Proceeds from sales of property and equipment 286 197 107
Proceeds from property and equipment casualty losses 628 25 0
Purchases of property and equipment (2,950) (7,539) (9,853)
Net cash used in investing activities (2,036) (7,317) (9,746)
Cash flows from financing activities      
Proceeds from revolving credit facilities 0 0 52,946
Payments on revolving credit facilities 0 0 (51,000)
Proceeds from Prepetition ABL Facility 3,000 0 0
Payments of Prepetition ABL Facility (67,349) 0 0
Proceeds from DIP ABL Facility 79,495 0 0
Payments of DIP ABL Facility (82,568) 0 0
Proceeds from Exit ABL Facility 89,479 5,000 0
Cost of debt issuance 0 0 (4,507)
Payments of short-term debt (1,550) (3,154) (2,667)
Principal payments on finance leases (11) (18) (20)
Payments of contingent liability 0 0 (223)
Net cash provided by (used in) financing activities 20,496 1,828 (5,471)
Impact of foreign currency exchange on cash 89 10 281
Net increase (decrease) in cash, cash equivalents, and restricted cash 8,598 (10,191) (10,125)
Cash, cash equivalents, and restricted cash      
Cash, cash equivalents, and restricted cash at beginning of period 19,842 28,440 27,880
Cash, cash equivalents, and restricted cash at end of period 28,440 18,249 17,755
Supplemental disclosures of cash flow information:      
Cash paid for interest 72 88 21,589
Cash paid (refunded) for income taxes 0 370 (777)
Right-of-use assets obtained in exchange for operating lease obligations 589 3,154 6,540
Supplemental schedule of non-cash investing and financing activities:      
Right-of-use assets obtained in exchange for finance lease obligations 60 0 26
Capital expenditures in accounts payable and accrued expenses $ 1,547 $ 2,473 $ 1,373