CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Mar. 31, 2024 |
Mar. 31, 2023 |
Mar. 31, 2022 |
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| Operating activities | |||||||||
| Net income (loss) | $ (9,142) | $ (879) | $ (12,473) | $ (8,303) | $ (22,342) | $ (8,190) | $ (41,286) | $ (18,368) | $ 38,355 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||||||||
| Depreciation and amortization | 2,752 | 2,586 | 5,295 | 5,133 | 7,593 | 7,235 | 9,313 | 10,118 | 9,418 |
| Amortization of debt issuance costs | 520 | 336 | 1,234 | 768 | 1,948 | 1,201 | 2,735 | 1,624 | 2,414 |
| Long-term debt related costs | 0 | 0 | 992 | 992 | 0 | 992 | 8,471 | ||
| Provision for manufacturing and service inventories | 516 | 1,631 | 892 | 9,946 | 3,328 | 11,334 | 6,490 | 18,052 | 5,740 |
| Gain on PPP loan extinguishment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (10,000) | |
| Stock-based compensation | 1,901 | 3,069 | 2,831 | 5,357 | 3,741 | 8,340 | 4,721 | 10,750 | 13,829 |
| Change in fair value of warrant liabilities | (726) | (7,582) | (5,128) | (10,675) | (7,341) | (10,678) | (5,137) | (10,250) | (60,030) |
| Change in fair value of warrant liabilities | 469 | (3,933) | (6,146) | (3,943) | |||||
| Other non-cash | 750 | (1,469) | 826 | (2,918) | 3,010 | (3,193) | 3,304 | (2,067) | (832) |
| Changes in assets and liabilities, net of effect of acquisitions: | |||||||||
| Accounts receivable | 6,255 | 4,677 | 21,109 | 8,264 | 12,616 | (3,367) | 4,846 | (2,966) | 3,651 |
| Manufacturing inventories | (692) | (412) | (2,070) | 416 | (3,099) | (9,352) | (1,396) | (1,839) | (12,069) |
| Service parts inventories | (516) | (1,384) | (1,505) | (1,971) | (1,520) | (2,671) | 11,852 | (3,503) | (4,400) |
| Accounts payable | (5,421) | (175) | (9,073) | 293 | (13,226) | 7,015 | (11,193) | 1,158 | (1,939) |
| Prepaid expenses | (2,287) | 0 | 8 | (1,208) | 394 | 654 | 1,971 | 3,695 | (3,959) |
| Deferred revenue | (2,929) | (15,393) | (9,268) | (20,933) | (4,780) | (19,817) | 1,386 | (11,611) | (13,119) |
| Accrued restructuring charges | 110 | 39 | 0 | 115 | 0 | 130 | 0 | 0 | (580) |
| Accrued compensation | (816) | (1,610) | (1,946) | (2,949) | (425) | (614) | 2,504 | (431) | (3,073) |
| Other assets | (1,422) | (3,000) | (2,240) | (835) | (3,230) | (1,455) | (2,197) | (1,270) | (2,602) |
| Other liabilities | 508 | 228 | 162 | 573 | 2,605 | 2,840 | 737 | 1,022 | (3,003) |
| Net cash used in operating activities | (9,444) | (18,346) | (10,151) | (17,935) | (19,533) | (19,596) | (10,156) | (4,894) | (33,728) |
| Investing activities | |||||||||
| Purchases of property and equipment | (2,299) | (3,036) | (3,925) | (7,795) | (5,025) | (10,644) | (5,869) | (12,581) | (6,316) |
| Business acquisitions | (2,000) | (2,000) | (2,000) | 0 | (3,020) | (7,808) | |||
| Net cash used in investing activities | (2,299) | (5,036) | (3,925) | (9,795) | (5,025) | (12,644) | (5,869) | (15,601) | (14,124) |
| Financing activities | |||||||||
| Borrowings of long-term debt, net of debt issuance costs | 12,889 | 0 | 12,889 | 0 | 12,889 | 0 | 12,541 | 0 | 94,961 |
| Repayments of long-term debt | (1,997) | (20,846) | (3,247) | (22,096) | (4,497) | (23,346) | (5,747) | (24,596) | (94,301) |
| Borrowings of credit facility | 108,186 | 109,740 | 217,084 | 229,605 | 318,223 | 363,103 | 421,623 | 497,280 | 309,000 |
| Repayments of credit facility | (107,834) | (110,575) | (213,082) | (226,240) | (303,671) | (353,502) | (412,704) | (498,665) | (291,265) |
| Proceeds from issuance of common stock | (9) | 66,324 | 0 | 66,723 | 0 | 66,718 | 0 | 67,146 | 1,762 |
| Net cash provided by financing activities | 11,235 | 44,643 | 13,644 | 47,992 | 22,944 | 52,973 | 15,713 | 41,165 | 20,157 |
| Effect of exchange rate changes on cash and cash equivalents | (2) | 29 | 11 | 166 | (12) | 21 | (3) | 12 | 51 |
| Net change in cash, cash equivalents, and restricted cash | (510) | 21,290 | (421) | 20,428 | (1,626) | 20,754 | (315) | 20,682 | (27,644) |
| Cash, cash equivalents, and restricted cash at beginning of period | 26,175 | 5,493 | 26,175 | 5,493 | 26,175 | 5,493 | 26,175 | 5,493 | 33,137 |
| Cash, cash equivalents, and restricted cash at end of period | 25,665 | 26,783 | 25,754 | 25,921 | 24,549 | 26,247 | 25,860 | 26,175 | 5,493 |
| Supplemental disclosure of cash flow information | |||||||||
| Cash paid for interest | 2,665 | 1,863 | 6,079 | 4,114 | 9,154 | 6,270 | 12,314 | 8,701 | 9,140 |
| Cash paid for income taxes, net of refunds | 307 | 115 | 831 | 465 | 1,136 | 837 | 1,776 | 1,418 | 944 |
| Non-cash transactions | |||||||||
| Purchases of property and equipment included in accounts payable | 977 | 133 | 689 | 548 | 164 | 1,198 | 661 | 1,049 | 147 |
| Paid-in-kind interest | 191 | 319 | 777 | 319 | 1,401 | 319 | 2,314 | 319 | 0 |
| Transfer of manufacturing inventory to services inventory | |||||||||
| Non-cash transactions | |||||||||
| Transfer of manufacturing inventory | (226) | 890 | (218) | 1,905 | 75 | 2,308 | 341 | 4,045 | 211 |
| Transfer of manufacturing inventory to property and equipment | |||||||||
| Non-cash transactions | |||||||||
| Transfer of manufacturing inventory | $ 143 | $ 193 | $ 172 | $ 279 | $ 205 | $ 264 | $ 264 | $ 343 | $ 818 |
| X | ||||||||||
- Definition Fair Value Adjustment of Warrants, Including Adjustment No definition available.
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- Definition Gain (Loss) On Loan Forgiveness No definition available.
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- Definition The net change during the reporting period in the book value of finished goods inventory, work in process inventory, materials and purchase parts inventory. No definition available.
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- Definition The net change during the reporting period in the book value of service parts inventories. No definition available.
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- Definition Long-Term Debt Restatement Costs No definition available.
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- Definition Charge to cost of goods sold that represents the reduction of the carrying amount of service parts inventories, generally attributable to excess quantities held, obsolescence and market conditions. No definition available.
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- Definition Transfer of Inventory No definition available.
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- References No definition available.
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- Definition Amount of amortization expense attributable to debt issuance costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Future cash outflow to pay for purchases of fixed assets that have occurred. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) from effect of exchange rate changes on cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; held in foreign currencies. Excludes amounts for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after refund, of cash paid to foreign, federal, state, and local jurisdictions as income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in obligation to transfer good or service to customer for which consideration has been received or is receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of increase (decrease) in operating assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in operating liabilities classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The increase (decrease) during the period in the carrying amount (including both current and noncurrent portions of the accrual) of the liability pertaining to the exit from or disposal of business activities or restructuring pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination and to asset retirement obligations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Other cash or noncash adjustments to reconcile net income to cash provided by (used in) operating activities that are not separately disclosed in the statement of cash flows (for example, cash received or cash paid during the current period for miscellaneous operating activities, net change during the reporting period in other assets or other liabilities). No definition available.
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- Definition Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow from amounts received from issuance of long-term debt that is wholly or partially secured by collateral. Excludes proceeds from tax exempt secured debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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