v3.24.1.u1
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 (loss) income $ (11,811) $ 8,351
Adjustments to reconcile net (loss) income to cash provided by operating activities:    
Stock based compensation 219 647
Depreciation, depletion, accretion and amortization 7,021 12,956
Amortization of debt origination costs 372 188
Change in provision for expected credit losses 229 (381)
Gains on disposal of assets (1,166) (361)
Deferred income taxes 609 (27)
Other 111 174
Changes in assets and liabilities:    
Accounts receivable, net 56,623 (18,534)
Inventories (168) (1,347)
Prepaid expenses and other assets 3,236 3,203
Accounts payable (5,152) 8,602
Income taxes payable 1,167 3,031
Net cash provided by operating activities 47,349 3,240
Cash flows from investing activities:    
Purchases of property and equipment (4,151) (6,036)
Proceeds from disposal of property and equipment 3,049 330
Net cash used in investing activities (1,102) (5,706)
Cash flows from financing activities:    
Borrowings on long-term debt 0 66,700
Repayments of long-term debt 0 (65,606)
Payments on financing transaction (46,837) 0
Payments on sale leaseback transaction (1,112) (1,214)
Principal payments on financing leases and equipment financing notes (503) (2,044)
Debt issuance costs (37) 0
Other 0 (919)
Net cash used in financing activities (48,489) (3,083)
Effect of foreign exchange rate on cash (35) (6)
Net decrease in cash, cash equivalents and restricted cash (2,277) (5,555)
Cash, cash equivalents and restricted cash at beginning of period 24,298 17,282
Cash, cash equivalents and restricted cash at end of period 22,021 11,727
Supplemental disclosure of cash flow information:    
Cash paid for interest 741 3,108
Cash paid for income taxes, net of refunds received 8 (26)
Supplemental disclosure of non-cash transactions:    
Interest paid in kind 2,741 0
Purchases of property and equipment included in accounts payable and accrued expenses 2,500 5,917
Right-of-use assets obtained for financing lease liabilities 106 0
Nonrelated Party    
Changes in assets and liabilities:    
Accrued expenses and other liabilities (5,441) (13,262)
Related Parties    
Changes in assets and liabilities:    
Accrued expenses and other liabilities $ 1,500 $ 0

Source

PDF HTML 10-Q Filing
ZIP XLS HTML XBRL