Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net Income (Loss) $ 16,637 $ 21,136
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 19,595 17,307
Stock-based compensation expense 6,246 5,361
Gain on sale of assets, net (1,533) (63)
Loss on extinguishment of debt 1,882 0
Amortization of debt issuance costs 410 419
Non-cash lease expense 11,917 10,739
Deferred income tax 7,849 5,428
Changes in assets and liabilities:    
Accounts receivable, net (172) 3,009
Other receivables (4,096) 1,128
Inventory, net 1,305 946
Prepaid expenses and other current assets 1,703 1,850
Accounts payable 2,344 2,553
Accrued expenses 3,615 5,155
Deferred revenue 1,214 1,114
Operating lease liability (10,499) (9,696)
Other noncurrent assets and liabilities (427) 631
Net cash provided by operating activities 57,990 67,017
Cash flows from investing activities:    
Purchases of property and equipment (81,844) (72,059)
Proceeds from sale of property and equipment 4,900 8,899
Net cash used in investing activities (76,944) (63,160)
Cash flows from financing activities:    
Proceeds from issuance of common stock under employee plans 729 1,055
Payments for repurchases of common stock (9,924) 0
Proceeds from debt borrowings 925,000 0
Proceeds from revolving line of credit 23,000 0
Payments on debt borrowings (901,201) 0
Payments on revolving line of credit (23,000) 0
Payments of deferred financing costs (3,772) 0
Principal payments on finance lease obligations (180) (161)
Net cash provided (used) by financing activities 10,652 894
Net change in cash and cash equivalents, and restricted cash during period (8,302) 4,751
Cash and cash equivalents and restricted cash at beginning of period 19,119 65,222
Cash and cash equivalents and restricted cash at end of period 10,817 69,973
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets    
Cash and cash equivalents 10,701 69,903
Restricted Cash 116 70
Total cash, cash equivalents, and restricted cash 10,817 69,973
Supplemental disclosure of cash flow information:    
Cash paid for interest 19,233 11,697
Cash paid for income taxes 264 151
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment in accounts payable 15,596 11,993
Property and equipment in other accrued expenses 4,234 5,969
Payment of debt financing costs in other accrued expenses 1,503 0
Stock option exercise proceeds in other receivables $ 0 $ 61