v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) from continuing operations $ 82,552 $ (98,162)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities from continuing operations:    
Depreciation and amortization 96,467 97,993
Share-based compensation 20,134 13,101
Non-cash interest expense 21,612 4,046
Amortization of operating lease right-of-use assets 9,893 9,626
Loss on impairment 41 2,486
Loss (gain) on debt extinguishment and third party debt issuance costs 4,494 (1,487)
Deferred taxes (81,770) (12,599)
Other adjustments, net (1,995) 918
Foreign exchange loss (gain) 4,226 (4,924)
Changes in assets and liabilities:    
Accounts receivable, net 728 (2,314)
Inventories (18,481) (2,336)
Prepaid expenses and other current assets 8,057 2,362
Income tax receivable 0 4,305
Net assets held for sale and discontinued operations 375 0
Other assets - net of current 1,964 (723)
Accounts payable (14,188) (14,032)
Accrued expenses and other liabilities (3,272) (7,075)
Income tax payable (70,644) 75,131
Lease liabilities, operating (9,888) (8,751)
Net cash provided by operating activities from continuing operations 50,305 57,565
Net cash used in operating activities from discontinued operations (61) (10,588)
Net cash provided by operating activities 50,244 46,977
Cash flows from investing activities:    
Purchases of property, plant and equipment (32,915) (30,799)
Disposals of property, plant and equipment 0 245
Acquisition-related cash payments, net of cash acquired 0 (542)
Purchases of intangibles (287) (385)
Purchase of investments 0 (287)
Issuance of notes receivable (1,216) (1,782)
Payments received on notes receivables 583 286
Dividend received on investments 20 0
Net cash used in investing activities from continuing operations (33,815) (33,264)
Net cash used in investing activities from discontinued operations 0 (538)
Net cash used in investing activities (33,815) (33,802)
Cash flows from financing activities:    
Proceeds from notes payable [1] 426,511 36,383
Principal payments on notes payable (361,268) (36,917)
Minority interest buyouts (50,875) 0
Payments of debt issuance costs (7,620) (950)
Principal payments on finance lease liabilities (6,031) (4,952)
Principal payments on financial obligations (4,570) (2,763)
Exercise of stock options 1,283 10
Remittances of statutory withholdings on share-based payment awards [2] (6,459)
Payments to repurchase SVS (1,000) 0
Payments of deferred consideration (618) (6,398)
Payments of contingent consideration 0 (3,236)
Net cash used in financing activities from continuing operations (10,647) (18,823)
Net cash used in financing activities from discontinued operations 0 0
Net cash used in financing activities (10,647) (18,823)
Net increase (decrease) in cash and cash equivalents (including restricted cash) 5,782 (5,648)
Cash and cash equivalents (including restricted cash), beginning of period 101,573 107,225
Effect of exchange rate changes on cash and cash equivalents (including restricted cash) (387) 692
Cash and cash equivalents (including restricted cash), end of period 106,968 102,269
Non-cash investing & financing activities:    
Purchases of property, plant and equipment within accounts payable and accrued expenses 2,670 1,583
Exchanged portion of Senior Secured Notes - 2026 for Senior Secured Notes - 2029 [1],[3] 142,202 0
Non-cash proceeds from Note Exchange [3] 0 7,000
Extinguishment of convertible notes by issuance of SVS [3] 0 16,500
Issuance of SVS in connection with acquisitions [3] 0 574
Deferred consideration incurred in connection with acquisitions 0 985
Issuance of SVS for settlement of liability [3] 0 77
Transfer to assets held for sale, net 0 1,331
Issuance of SVS to purchase non-controlling interest [3] 36,676 5,418
Non-cash reduction to deferred sale proceeds 0 120
Non-cash activity related to obtaining finance right-of-use assets 9,996 2,044
Non-cash activity related to obtaining operating right-of-use assets 19,950 7,749
Other non-cash activity related to finance right-of-use assets 7,588 3,605
Other non-cash activity related to operating right-of-use assets (632) 1,203
Excess redemption value attributable to non-controlling interest (18,891) 25,188
Supplemental disclosure of cash flow information:    
Cash paid for taxes 5,413 20,912
Cash paid for interest $ 50,539 $ 51,492
[1]
(1) The remaining outstanding balance of the Senior Secured Notes – 2026* of $142.2 million was exchanged on a non-cash basis for Senior Secured Notes – 2029*.
[2]
(2) In connection with the Company’s net share settlement (withhold-to-cover) of PSUs* and RSUs* that vested during the six months ended. See Note 17, "Shareholders' Equity" for further details.
[3]
*as defined herein