Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 35,488 $ 24,584
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 14,945 11,650
Stock-based compensation expense 5,519 310
Loss on sale of assets 459 790
Amortization of deferred financing costs 419 356
Non-cash lease expense 9,606 8,613
Deferred income tax 5,018 7,099
Changes in assets and liabilities:    
Accounts receivable, net 146 (318)
Other receivables 10,108 (262)
Inventory, net (665) 289
Prepaid expenses and other current assets 901 (242)
Accounts payable 5,679 3,144
Accrued expenses 3,635 2,799
Deferred revenue 648 1,254
Operating lease liability (9,094) (8,245)
Other noncurrent assets and liabilities (1,268) (232)
Net cash provided by operating activities 81,544 51,589
Cash flows from investing activities:    
Purchases of property and equipment (30,015) (32,301)
Proceeds from sale of property and equipment 1 3,591
Net cash used in investing activities (30,014) (28,710)
Cash flows from financing activities:    
Proceeds from exercise of stock options 1,281 121
Payments for repurchases of common stock 0 (199)
Payments on debt borrowings (2,100) (2,100)
Principal payments on finance lease obligations (134) (119)
Payments of issuance costs pursuant to initial public offering 0 (35)
Net cash (used in) provided by financing activities (953) (2,332)
Net change in cash and cash equivalents, and restricted cash during period 50,577 20,547
Cash and cash equivalents, and restricted cash at beginning of period 19,858 117,874
Cash and cash equivalents, and restricted cash at end of period 70,435 138,421
Supplemental disclosure of cash flow information:    
Cash paid for interest 7,821 14,149
Cash paid for income taxes 0 109
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment in accounts payable 18,123 6,363
Stock option exercise proceeds in other receivables 45 0
Repurchase of Common Stock in Other Accrued Expenses 0 15
Deferred offering costs in accounts payable and other accrued expenses $ 0 $ 1,030