Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net (loss) income $ (14,804) $ 11,706
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 7,930 7,219
Amortization of debt issuance costs, discounts and premiums 1,649 1,349
Non-cash change in ROU operating lease assets 3,397 3,128
Stock-based compensation 1,693 966
Change in fair value of stock warrants   1,347
Loss on disposal of assets, net 42 676
Proceeds from insurance related to property damage   1,334
Loss on modification and extinguishment of debt, net 4,530 409
Other operating activities 319  
Increases and decreases in operating assets and liabilities:    
Accounts receivable 611 211
Prepaid expenses, inventories and other (2,277) (1,414)
Operating lease right-of-use assets (386)  
Deferred taxes (31) 435
Common stock warrant liability   (4,000)
Operating lease liabilities (3,509) (3,334)
Contract liabilities 3,970 (234)
Accounts payable and other liabilities 1,243 9,706
Net cash provided by operating activities 4,377 29,504
Cash flows from investing activities:    
Capital expenditures (170,939) (36,991)
Other (1,175) (226)
Net cash used in investing activities (172,114) (37,217)
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  
Proceeds from equity offering, net of issuance costs   42,974
Payment of debt discount and issuance costs (7,945) (9,429)
Repayment of Senior Secured Notes due 2024   (106,825)
Prepayment premiums of Senior Secured Notes due 2024   (1,261)
Repayment of finance lease obligations (514) (492)
Proceeds from exercise of stock options 187 392
Other (108) (51)
Net cash provided by financing activities 93,620 235,308
Net (decrease) increase in cash, cash equivalents and restricted cash (74,117) 227,595
Cash, cash equivalents and restricted cash, beginning of period 265,293 37,698
Cash, cash equivalents and restricted cash, end of period 191,176 265,293
Supplemental Cash Flow Information:    
Cash paid for interest, net of amounts capitalized 19,589 12,373
Non-Cash Investing Activities:    
Accounts payable related capital expenditures 30,995 4,899
Gain on extinguishment of CARES Act unsecured loans   5,696
Operating leases 1,121  
Financing leases 3,498  
Operating lease right-of-use asset and liability remeasurements $ 1,846 $ 1,582