| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net (loss) income | ||||||
-11,521 | -20,846 | -45,106 | -81,374 | -38,545 | -28,376 | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
91,474 | 77,535 | 71,649 | 80,181 | 61,662 | 33,405 | |
Accretion of contract rights under development agreements and placement fees | ||||||
6,378 | 4,552 | 4,680 | 4,700 | 496 | 58 | |
Amortization of deferred loan costs and discount | ||||||
1,917 | 1,826 | 2,976 | 3,542 | 2,446 | 1,242 | |
Payment-in-kind interest capitalized | ||||||
- | - | -15,935 | -15,396 | -8,507 | 481 | |
Payment-in-kind interest payments | ||||||
- | -37,624 | -2,698 | 0 | 0 | - | |
Write-off of deferred loan cost and discount | ||||||
- | 3,876 | 3,294 | 0 | 0 | - | |
Stock-based compensation expense | ||||||
9,001 | 10,933 | - | 0 | - | - | |
(Benefit) provision for bad debts | ||||||
294 | -441 | 651 | 2,290 | 106 | -450 | |
Imputed interest income | ||||||
- | - | - | - | 18 | 36 | |
Loss on disposition of assets | ||||||
-1,068 | -1,963 | -3,901 | -1,149 | -1,439 | -1,936 | |
Impairment of assets | ||||||
5,343 | 6,089 | 584 | 4,749 | 4,989 | 2,475 | |
Fair value adjustment of contingent consideration | ||||||
501 | 701 | - | 0 | - | - | |
Deferred income tax | ||||||
1,927 | 970 | 7,062 | 7,998 | 38,645 | 2,189 | |
Changes in assets and liabilities that relate to operations: | ||||||
Accounts receivable | ||||||
15,033 | 11,488 | 8,348 | 3,191 | 342 | 973 | |
Inventories | ||||||
-490 | -4,907 | 1,636 | -307 | -1,144 | -806 | |
Prepaid expenses | ||||||
-715 | 895 | 599 | -2,021 | 1,466 | 1,349 | |
Deposits and other | ||||||
449 | 748 | 374 | 315 | -11,531 | 241 | |
Other assets, non-current | ||||||
-6,565 | -12,204 | 2,290 | -467 | -869 | 1,476 | |
Accounts payable and accrued liabilities | ||||||
-6,827 | -6,063 | 8,451 | 12,567 | -4,770 | 2,791 | |
Net cash provided by operating activities | ||||||
87,989 | 45,511 | 44,008 | 34,493 | 9,403 | 12,482 | |
Cash flows from investing activities | ||||||
Collection of notes receivable | ||||||
- | - | - | - | 323 | 205 | |
Customer notes receivable | ||||||
2,382 | - | - | - | - | - | |
Business acquisitions, net of cash acquired | ||||||
54,935 | 4,452 | 63,850 | 0 | 374,347 | 10,345 | |
Change in Canadian tax receivable | ||||||
- | - | - | - | - | 154 | |
Purchase of intangible assets | ||||||
6,295 | 1,119 | 1,226 | 1,311 | 6,102 | 9,259 | |
Software development and other expenditures | ||||||
14,350 | 10,460 | 7,664 | 6,526 | 6,476 | 5,127 | |
Proceeds from disposition of assets | ||||||
450 | 519 | 514 | 87 | 29 | 569 | |
Purchases of property and equipment | ||||||
50,420 | 54,602 | 48,585 | 32,879 | 15,277 | 9,811 | |
Net cash used in investing activities | ||||||
-127,932 | -70,114 | -120,811 | -40,629 | -401,850 | -33,922 | |
Cash flows from financing activities | ||||||
Borrowings under the revolving facility | ||||||
- | - | - | - | 11,500 | 10,000 | |
Repayments under the revolving facility | ||||||
- | - | - | - | 21,500 | - | |
Proceeds from incremental term loans | ||||||
- | - | - | 0 | 0 | - | |
Repayment of first lien credit facilities | ||||||
5,387 | 5,211 | 2,413 | 0 | 0 | - | |
Payment of deferred loan costs | ||||||
- | 41 | 3,267 | 0 | 3,837 | 73 | |
Repurchase of shares issued to management | ||||||
- | - | - | 1,125 | 10,000 | - | |
Payment of financed placement fee obligations | ||||||
8,215 | 3,628 | 3,807 | 3,516 | 0 | - | |
Payments of previous acquisition obligation | ||||||
1,748 | - | 128 | - | - | - | |
Repayment of senior secured credit facilities | ||||||
- | 115,000 | 410,655 | - | - | - | |
Repayment of seller notes | ||||||
- | - | 12,401 | 0 | 0 | - | |
Payments on finance leases and other obligations | ||||||
1,396 | 2,883 | 2,372 | 0 | 0 | - | |
Proceeds from issuance of common stock | ||||||
- | 176,341 | - | 0 | 77,425 | 0 | |
Proceeds from employees in advance of common stock issuance | ||||||
- | - | 25 | 75 | 579 | 1,969 | |
Proceeds from employees in advance of common stock issuance | ||||||
- | - | - | 6,987 | 4,743 | 2,036 | |
Initial public offering costs | ||||||
- | 4,160 | 653 | 0 | 0 | - | |
Repurchase of stock | ||||||
1,320 | - | - | 50 | 1,277 | - | |
Proceeds from stock option exercise | ||||||
685 | 774 | - | 0 | - | - | |
Distributions to non-controlling interest owners | ||||||
302 | - | - | - | - | - | |
Net cash provided by (used in) financing activities | ||||||
-17,683 | 76,066 | 78,054 | -11,603 | 417,547 | 9,860 | |
Effect of exchange rates on cash and cash equivalents | ||||||
4 | -1 | 14 | -6 | -58 | 518 | |
Net increase (decrease) in cash and cash equivalents | ||||||
-57,622 | 51,462 | 1,265 | -17,745 | 25,042 | -11,062 | |
Supplemental cash flow information: | ||||||
Cash paid during the period for interest | ||||||
33,567 | 35,392 | 35,890 | 40,060 | 30,203 | 15,315 | |
Cash paid during the period for taxes | ||||||
1,548 | 1,742 | 1,157 | 1,247 | 840 | - | |
Non-cash investing and financing activities: | ||||||
Non-cash consideration given in business acquistion | ||||||
- | 500 | 2,600 | 0 | 17,233 | 11,500 | |
Intangible assets obtained under placement fee arrangements | ||||||
40,338 | 2,000 | 4,866 | - | 12,391 | - | |
Leased assets obtained in exchange for new finance lease liabilities | ||||||
1,326 | 1,454 | 368 | - | - | - | |
Leased assets obtained in exchange for new operating lease liabilities | ||||||
13,048 | - | - | - | - | - | |
Financed purchase property and equipment | ||||||
- | - | - | 2,662 | 5,800 | 2,717 | |
Financed purchase of intangible asset | ||||||
- | - | - | 0 | 0 | - | |
The First Lien Credit Agreement [Member] | ||||||
Proceeds from debt | ||||||
- | - | 448,725 | 0 | 369,400 | - | |
The December Incremental Term Loans [Member] | ||||||
Proceeds from debt | ||||||
- | 29,874 | 65,000 | - | - | - | |