Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 12,860 $ 480
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,971 827
Stock-based compensation expense 3,241 5,302
Bad debt expense, net of recoveries 313 195
Deferred taxes 947 0
Changes in operating assets and liabilities:    
Accounts and notes receivable (2,883) 652
Inventory (32,763) (6,154)
Prepaid expenses and other assets (14,487) (2,550)
Accounts payable and accrued liabilities 23,280 6,608
Operating leases 838 157
Payroll and payroll tax liabilities 1,757 272
Income taxes payable 1,846 156
Customer deposits 1,469 (169)
Sales tax payable 885 345
Net cash provided by operating activities 2,274 6,121
Cash flows from investing activities:    
Assets acquired in business combinations (48,045) (3,032)
Purchase of marketable securities (57,357) 0
Purchase of property and equipment (4,428) (1,280)
Purchase of intangibles (1,262) (709)
Net cash used in investing activities (111,092) (5,021)
Cash flows from financing activities:    
Principal payments on long term debt (52) (47)
Common stock redeemed (3,954) 0
Proceeds from the sale of common stock and exercise of warrants, net of expenses 2,067 792
Net cash provided by (used in) financing activities (1,939) 745
Net change (110,757) 1,845
Cash at the beginning of period 177,912 12,979
Cash at the end of period 67,155 14,824
Supplemental disclosures of non-cash activities:    
Cash paid for interest 6 20
Common stock issued for accrued payroll 0 718
Common stock issued for business combination 33,187 1,808
Assets acquired by issuance of common stock 0 168
Right to use assets acquired under new operating leases $ 19,573 $ 1,095