Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (24,904) $ (14,804)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 31,092 7,930
Amortization of debt issuance costs, discounts and premiums 2,793 1,649
Non-cash change in ROU operating lease assets 3,586 3,397
Stock-based compensation 2,882 1,693
Loss on disposal of assets 7 42
Credit loss expense 940 (8)
Gain on settlement (384)  
Loss on modification of debt   4,530
Other operating activities 506 319
Deferred income taxes 660 (31)
Increases and decreases in operating assets and liabilities:    
Accounts receivable (2,190) 619
Prepaid expenses, inventories and other 2,150 (2,277)
Operating lease right-of-use assets   (386)
Income taxes payable 489  
Operating lease liabilities (3,390) (3,509)
Contract liabilities 1,889 3,970
Accounts payable and other liabilities 6,219 1,243
Net cash provided by operating activities 22,345 4,377
Cash flows from investing activities:    
Capital expenditures (148,585) (170,939)
Proceeds from insurance settlement related to property damage 355  
Acquisition of intangible assets (50,528)  
Other   (1,175)
Net cash used in investing activities (198,758) (172,114)
Cash flows from financing activities:    
Proceeds from Senior Secured Notes due 2028 borrowings 40,000 100,000
Proceeds from premium on Senior Secured Notes due 2028 borrowings   2,000
Payment of debt discount and issuance costs (6,493) (7,945)
Borrowings under revolving credit facility 42,950  
Repayment of revolving credit facility borrowings (15,950)  
Repayment of finance lease obligations (1,477) (514)
Proceeds from exercise of stock options 79 187
Other (78) (108)
Net cash provided by financing activities 59,031 93,620
Net decrease in cash, cash equivalents and restricted cash (117,382) (74,117)
Cash, cash equivalents and restricted cash, beginning of period 191,176 265,293
Cash, cash equivalents and restricted cash, end of period 73,794 191,176
Supplemental Cash Flow Disclosure:    
Cash paid for interest, net of amounts capitalized 22,463 19,589
Supplemental Schedule of Non-Cash Investing and Financing Activities:    
Accounts and construction payables related to property and equipment 22,507 30,995
Note payable incurred for asset acquisition 1,500  
Accrued liability related to asset acquisition 14,905  
Right-of-use assets obtained in exchange for operating lease liabilities 30,178 1,121
Financing leases   3,498
Operating lease right-of-use asset and liability remeasurements 2,341 $ 1,846
Financing leases Right-of-use asset and liability remeasurements $ (150)