Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Current assets:      
Cash $ 22,260 $ 27,137  
Accounts receivable, net 46,667 52,413  
Inventories, net 7,842 8,215  
Prepaid expenses and other current assets 11,443 14,222  
Total current assets 88,212 101,987  
Noncurrent assets:      
Restricted cash 299 300  
Property and equipment, net 10,383 10,956  
Intangible assets, net 148,059 167,587  
Goodwill 249,324 294,974  
Operating lease right-of-use assets 9,131 9,367  
Other non-current assets 4,386 1,813  
Total assets 509,794 586,984  
Current liabilities:      
Accounts payable 21,381 23,983  
Accrued liabilities 26,713 23,421  
Current portion of operating lease liabilities 1,522 1,446  
Deferred revenue 8,531 9,044  
Current portion of long-term debt and other borrowings, net 1,850 2,411  
Warrant liabilities to affiliates 4,978 11,664  
Total current liabilities 64,975 71,969  
Noncurrent liabilities:      
Operating lease liabilities 9,021 9,446  
Long-term debt and other borrowings, net 295,863   $ 296,109
Deferred income tax liabilities, net 7,854 13,795  
Accrued interest due to affiliate 12,766 2,530  
Mandatorily redeemable preferred stock due to affiliate, net 142,206 141,594  
Other liabilities 14,936 14,568  
Total liabilities 547,621 550,011  
Commitments and Contingencies  
Stockholders’ (deficit) equity:      
Common stock, voting, par value $0.0001 per share; 315,000,000 shares authorized; 17,982,993 shares issued and 16,982,993 outstanding as of June 30, 2024, and 17,476,530 shares issued and 16,476,530 outstanding as of December 31, 2023 8 8  
Additional paid-in capital 467,439 461,069  
Accumulated other comprehensive loss (5,353) (6,070)  
Accumulated deficit (497,167) (415,280)  
Treasury stock, at cost, 1,000,000 shares (2,754) (2,754)  
Total stockholders’ (deficit) equity (37,827) 36,973 $ 163,031
Total liabilities and stockholders’ (deficit) equity $ 509,794 $ 586,984