Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net (loss) income $ (7,822) $ 6,658
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 6,012 5,448
Amortization of debt issuance costs, discounts and premiums 1,227 991
Stock-based compensation 1,362 647
Change in fair value of stock warrants 0 1,347
Loss on disposal of assets, net 3 674
Proceeds from insurance related to property damage 0 1,334
Loss on modification and extinguishment of debt, net 4,530 6,104
Increases and decreases in operating assets and liabilities:    
Accounts receivable 1,887 360
Prepaid expenses, inventories and other (2,784) (3,229)
Deferred taxes (16) 379
Common stock warrant liability 0 (4,000)
Contract liabilities 2,635 (600)
Accounts payable and accrued expenses (6,994) 3,188
Net cash provided by operating activities 40 19,301
Cash flows from investing activities:    
Capital expenditures (116,148) (17,828)
Other (1,086) (164)
Net cash used in investing activities (117,234) (17,992)
Cash flows from financing activities:    
Proceeds from Senior Secured Notes due 2028 borrowings 100,000 310,000
Proceeds from premium on Senior Secured Notes due 2028 borrowings 2,000 0
Proceeds from equity offering, net of issuance costs 0 42,974
Payment of debt discount and issuance costs (7,945) (9,421)
Repayment of Senior Secured Notes due 2024 0 (106,825)
Prepayment premiums of Senior Secured Notes due 2024 0 (1,261)
Repayment of finance lease obligation (383) (367)
Proceeds from exercise of stock options 166 367
Other (108) 24
Net cash provided by financing activities 93,730 235,491
Net (decrease) increase in cash, cash equivalents and restricted cash (23,464) 236,800
Cash, cash equivalents and restricted cash, beginning of period 265,293 37,698
Cash, cash equivalents and restricted cash, end of period 241,829 274,498
Supplemental Cash Flow Information:    
Cash paid for interest, net of amounts capitalized 27,726 13,180
Non-Cash Investing Activities:    
Accounts payable related capital expenditures $ 17,312 $ 7,031