Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ 11,706 $ 147 $ (5,822)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 7,219 7,666 8,331
Amortization of debt issuance and warrant costs and other 1,349 1,276 1,184
Stock-based compensation 966 405 348
Change in fair value of stock warrants 1,347 598 1,230
Loss on disposal of assets, net 676 684 8
Proceeds from insurance related to property damage 1,334    
Loss on extinguishment of debt, net 409    
Increases and decreases in operating assets and liabilities:      
Accounts receivable 211 (2,698) (171)
Prepaid expenses, inventories and other (1,414) 1,660 (678)
Deferred taxes 435 (92) 80
Common stock warrant liability (4,000)    
Contract liabilities (234) 785 5,985
Accounts payable and accrued expenses 9,500 (1,440) (26)
Net cash provided by operating activities 29,504 8,991 10,469
Cash flows from investing activities:      
Purchase of property and equipment (36,991) (2,638) (8,088)
Other (226) 19 (582)
Net cash used in investing activities (37,217) (2,619) (8,670)
Cash flows from financing activities:      
Proceeds from equity offering, net of issuance costs 42,974    
Proceeds from CARES Act unsecured loans   5,606  
Payment of debt discount and issuance costs (9,429) (2,548) (1,188)
Repayment of Senior Secured Notes due 2024 (106,825) (1,100) (1,075)
Prepayment premiums of Senior Secured Notes due 2024 (1,261)    
Repayment of finance lease obligation (492) (488) (544)
Proceeds from exercise of stock options 392 29 225
Other (51) (24)  
Net cash provided by financing activities 235,308 1,475 7,418
Net increase in cash, cash equivalents and restricted cash 227,595 7,847 9,217
Cash, cash equivalents and restricted cash, beginning of period 37,698 29,851 20,634
Cash, cash equivalents and restricted cash, end of period 265,293 37,698 29,851
Supplemental Cash Flow Information:      
Cash paid for interest, net of amounts capitalized 12,373 8,514 9,550
Non-Cash Investing Activities and Financing Activities:      
Accounts payable related capital expenditures 4,899 $ 298 515
Gain on extinguishment of CARES Act unsecured loans 5,696    
Senior Secured Notes Due 2028      
Cash flows from financing activities:      
Proceeds from Senior Secured Notes $ 310,000    
Senior Secured Notes Due 2024      
Cash flows from financing activities:      
Proceeds from Senior Secured Notes     $ 10,000