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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ (157,083) $ 14,892
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization 55,809 40,561
Non-cash interest 1,364 4,981
Amortization of deferred financing costs 569 424
Losses from investments in investees 316 110
Equity-based compensation – employees and non-employees 11,925 6,107
Realized loss (gain) on disposal of fixed assets and sales of equity securities (477) (3,146)
Loss on conversion of the 2025 Notes 0 11,111
Change in fair value of equity securities and derivative instruments 73,724 873
Change in fair value of contingent consideration 69 (1,059)
Gain on sale of GeneDx (15,365) 0
Deferred income tax benefit (8,942) 2,479
Changes in assets and liabilities:    
Accounts receivable, net 95,864 20,352
Inventory, net 2,864 (3,817)
Other current assets and prepaid expenses (6,502) (13,904)
Other assets (260) 1,388
Accounts payable (19,508) (11,651)
Foreign currency measurement 4,295 (2,532)
Contract liabilities (17) (7,425)
Accrued expenses and other liabilities (69,978) (49,159)
Net cash (used in) provided by operating activities (31,333) 10,585
Cash flows from investing activities:    
Proceeds from sale of investments 0 8,079
Proceeds from sale of GeneDx 115,423 0
Acquisition of businesses, net of cash (2,071) 0
Proceeds from the sale of property, plant and equipment 870 165
Capital expenditures (10,630) (18,192)
Net cash provided by (used in) investing activities 103,592 (9,948)
Cash flows from financing activities:    
Issuance of common stock 1 0
Proceeds from the exercise of common stock options (225) 465
Borrowings on lines of credit 684,467 982,797
Repayments of lines of credit (679,860) (990,190)
Net cash provided by (used in) financing activities 4,383 (6,928)
Effect of exchange rate changes on cash and cash equivalents (894) (163)
Net increase (decrease) in cash and cash equivalents 75,748 (6,454)
Cash and cash equivalents at beginning of period 134,710 72,211
Cash and cash equivalents at end of period 210,458 65,757
SUPPLEMENTAL INFORMATION:    
Interest paid 3,554 4,883
Income taxes paid, net of refunds 4,647 3,690
Non-cash financing:    
Shares issued upon the conversion of-2025 Convertible Notes 0 68,775
Shares issued upon the conversion of: Common stock options and warrants, surrendered in net exercise 655 0
Shares issued upon the conversion of- Issuance of common stock for acquisition of ModeX 219,374 0
Fair value of shares included in consideration from Sema4 $ 172,000 $ 0

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