Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Net income $ (6,475) $ (1,183)
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash operating lease expense 1,113 893
Foreign currency adjustments (816) 0
Depreciation 9,654 8,341
Deferred income taxes 129 (175)
Amortization of deferred financing costs 479 458
Amortization of intangible assets 4,795 5,739
Stock-based compensation expense 1,140 1,480
Change in fair value of warrant liabilities (4,556) (0)
Net gain on the sale of property, plant and equipment (578) (444)
Net changes in operating assets and liabilities:    
Trade receivables, net 10,415 676
Inventory (957) (265)
Prepaid expenses and other assets (7,256) (6,265)
Accounts payable (3,997) (3,460)
Accrued payroll, accrued expenses and other liabilities 1,876 5,027
Net cash provided by operating activities 17,916 13,188
Cash flows from investing activities:    
Purchases of property, plant and equipment (17,120) (35,431)
Proceeds from sale of property, plant and equipment 2,333 1,950
Purchases of intangible assets 0 (1,050)
Net cash used in investing activities (14,787) (34,531)
Cash flows from financing activities:    
Proceeds on revolving loan 83,812 92,164
Payments on revolving loan (84,980) (76,928)
Payments on finance lease obligations (26) (25)
Purchase of treasury stock (5,495) (534)
Net cash provided by (used in) financing activities (6,689) 14,677
Effect of foreign currency exchange rate on cash 127 155
Net decrease in cash and cash equivalents (3,433) (6,511)
Cash and cash equivalents:    
Beginning of period 7,482 9,298
End of period 4,049 2,787
Supplemental cash flow information:    
Cash paid for interest 779 118
Cash paid (refunded) for income taxes (306) 50
Non-cash investing and financing activities:    
Equipment purchases included in accrued expenses and accounts payable 3,762 2,326
Operating lease right-of-use assets recorded upon adoption of ASC 842 0 18,625
Operating lease liabilities recorded upon adoption of ASC 842 0 18,593
Operating lease assets obtained in exchange for new operating lease liabilities $ 1,070 $ 216