v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (37,907) $ (157,083)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 52,993 55,809
Non-cash interest 1,364 1,364
Amortization of debt discount and debt issuance costs 598 569
Losses from investments in investees 79 316
Equity-based compensation – employees and non-employees 5,527 11,925
Realized loss on disposal of fixed assets and sales of equity securities 2,075 (477)
Change in fair value of equity securities and derivative instruments 6,146 73,724
Contingent consideration 102 69
Gain on sale of GeneDx 0 (15,365)
Deferred income tax benefit 1,753 (8,942)
Changes in assets and liabilities:    
Accounts receivable, net (81,822) 95,864
Inventory, net 2,749 2,864
Other current assets and prepaid expenses 1,279 (6,502)
Other assets (1,915) (260)
Accounts payable 20,210 (19,508)
Foreign currency measurement (1,318) 4,295
Contract liabilities 2 (17)
Accrued expenses and other liabilities 5,073 (69,978)
Net cash used in operating activities (23,012) (31,333)
Cash flows from investing activities:    
Investments in investees (5,000) 0
Proceeds from sale of GeneDx 0 115,423
Acquisition of businesses, net of cash 0 (2,071)
Proceeds from the sale of property, plant and equipment 842 870
Capital expenditures (9,050) (10,630)
Net cash provided by (used in) investing activities (13,208) 103,592
Cash flows from financing activities:    
Issuance of common stock 0 1
Proceeds from the exercise of common stock options (301) (225)
Borrowings on lines of credit 341,850 684,467
Repayments of lines of credit (348,206) (679,860)
Redemption of 2033 Senior Notes (3,000) 0
Net cash provided by (used in) financing activities (9,657) 4,383
Effect of exchange rate changes on cash and cash equivalents 794 (894)
Net increase (decrease) in cash and cash equivalents (45,083) 75,748
Cash and cash equivalents at beginning of period 153,191 134,710
Cash and cash equivalents at end of period 108,108 210,458
SUPPLEMENTAL INFORMATION:    
Interest paid 4,204 3,554
Income taxes paid, net of refunds 685 4,647
Assets acquired by finance leases 181 0
Non-cash financing:    
Common stock options and warrants, surrendered in net exercise 301 655
Issuance of common stock for acquisition of ModeX 0 219,374
Fair value of shares included in consideration from GeneDx Holdings $ 6,689 $ 172,000

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