Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
9 Months Ended |
12 Months Ended |
Sep. 30, 2021 |
Sep. 30, 2020 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
| Cash flow from operating activities |
|
|
|
|
|
| Net income and comprehensive income |
$ 89,574
|
$ 59,958
|
$ 62,999
|
$ 53,094
|
$ 10,893
|
| Adjustments to reconcile net income and comprehensive income to net cash provided by operating activities: |
|
|
|
|
|
| Depreciation and amortization |
19,829
|
8,612
|
12,600
|
5,079
|
1,138
|
| Depreciation and amortization included in cost of goods sold |
14,396
|
7,424
|
11,542
|
7,992
|
1,968
|
| Non-cash interest expense |
2,313
|
2,142
|
2,889
|
849
|
|
| Loss from Sale of Property and Equipment |
(5)
|
63
|
63
|
67
|
46
|
| Amortization of operating lease right of use assets |
3,216
|
2,383
|
6,045
|
2,733
|
|
| Share-based compensation |
2,217
|
2,208
|
2,765
|
|
15,020
|
| Accretion of construction finance liability |
1,097
|
617
|
|
|
|
| Loss on fair value of warrants |
|
12,782
|
42,679
|
806
|
|
| Deferred income tax expense |
(2,111)
|
(2,324)
|
(4,887)
|
(908)
|
(546)
|
| Changes in operating assets and liabilities: |
|
|
|
|
|
| Inventories |
(33,796)
|
(11,687)
|
(22,534)
|
(54,481)
|
(18,751)
|
| Accounts receivable |
(8,179)
|
|
1,109
|
|
|
| Prepaid expenses and other current assets |
(9,412)
|
(6,915)
|
(11,670)
|
(5,224)
|
(2,271)
|
| Other assets |
(4,509)
|
(5,790)
|
(2,517)
|
147
|
(1,096)
|
| Income tax payable / receivable |
(12,745)
|
1,911
|
(2,452)
|
(6,735)
|
13,926
|
| Accounts payable and accrued liabilities |
17,853
|
1,303
|
1,002
|
13,587
|
1,056
|
| Operating lease liabilities |
(1,906)
|
(2,054)
|
(4,764)
|
(2,825)
|
|
| Deferred revenue |
(3,096)
|
2,207
|
4,774
|
977
|
1,412
|
| Other long-term liabilities |
344
|
|
|
3,915
|
723
|
| Net cash provided by operating activities |
75,080
|
72,840
|
99,643
|
19,073
|
23,517
|
| Cash flow from investing activities |
|
|
|
|
|
| Purchases of property and equipment |
(190,907)
|
(61,359)
|
(99,941)
|
(71,834)
|
(42,561)
|
| Purchases of property and equipment related to construction finance liability |
(8,877)
|
(27,381)
|
|
|
|
| Purchases of Property and Equipment from Construction |
|
|
(41,116)
|
(2,571)
|
|
| Cash paid for internal use software |
(3,587)
|
|
(887)
|
|
|
| Acquisitions, net of cash acquired |
(29,924)
|
|
(27,923)
|
(19,825)
|
(7,644)
|
| Capitalized interest |
(4,355)
|
(2,090)
|
(4,803)
|
(471)
|
(980)
|
| Proceeds from Sale of Property and Equipment |
8
|
16
|
16
|
29
|
129
|
| Net cash used in investing activities |
(237,642)
|
(90,814)
|
(174,654)
|
(94,673)
|
(51,055)
|
| Cash flow from financing activities |
|
|
|
|
|
| Proceeds from Issuance of Notes Payable |
|
|
|
|
6,040
|
| Proceeds from Issuance of Notes Payable—Related Party |
|
|
|
|
11,357
|
| Proceeds from Debt Financings, Net of Discounts and Accrued Interest |
|
|
|
122,215
|
|
| Proceeds from share warrant exercise |
7,672
|
11,459
|
11,459
|
964
|
1,289
|
| Proceeds from construction finance liability |
8,877
|
28,582
|
41,116
|
23,071
|
|
| Payments on Construction Finance Liability |
|
|
(4,951)
|
(115)
|
|
| Payments on Issuance of Shares for Reverse Transaction |
|
|
|
|
(460)
|
| Payments on Notes Payable |
|
|
|
|
(6,000)
|
| Proceeds from shares issued pursuant to private placement |
217,896
|
83,228
|
83,228
|
|
47,467
|
| Payments on finance lease obligations |
(4,024)
|
(2,824)
|
|
(1,633)
|
(454)
|
| Payments on notes payable - related party |
(11)
|
(907)
|
(941)
|
(1,520)
|
(8,677)
|
| Payments for taxes related to net share settlement of equity awards |
(987)
|
|
|
|
|
| Net cash provided by financing activities |
229,423
|
119,538
|
129,911
|
142,982
|
50,561
|
| Net increase in cash and cash equivalents |
66,861
|
101,564
|
54,900
|
67,383
|
23,023
|
| Cash and cash equivalents, beginning of period |
146,713
|
91,813
|
91,813
|
24,430
|
1,407
|
| Cash and cash equivalents, end of period |
213,574
|
193,377
|
146,713
|
91,813
|
24,430
|
| Supplemental disclosure of cash flow information |
|
|
|
|
|
| Interest |
22,653
|
12,798
|
22,135
|
7,417
|
2,948
|
| Income taxes |
120,365
|
70,996
|
105,248
|
43,658
|
8,195
|
| Other noncash investing and financing activities |
|
|
|
|
|
| Shares Issued for PurePenn and Solevo Acquisition |
57,452
|
|
37,000
|
|
|
| Shares Reserved for PurePenn and Solevo Acquisition |
|
|
65,000
|
|
|
| Purchase of Property and Equipment Financed with Notes Payable - Related Party |
|
|
|
257
|
3,095
|
| Adjustment to PurePenn, LLC and Keystone Relief Centers, LLC contingent consideration |
2,800
|
|
|
|
|
| ASC 842 lease additions - operating and finance leases |
43,748
|
23,096
|
|
|
|
| Shares issued for acquisitions |
57,452
|
|
37,000
|
|
|
| Purchase of property and equipment financed with accounts payable |
$ 16,148
|
$ 7,167
|
13,613
|
6,516
|
4,697
|
| Property and Equipment Acquired via Finance Leases |
|
|
$ 24,165
|
19,883
|
1,406
|
| Transfer of Shares Treated as a Debt Discount |
|
|
|
|
200
|
| Debt Discount related to Below Market Interest Debt |
|
|
|
$ 10
|
$ 46
|