Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
9 Months Ended |
May 29, 2021 |
May 30, 2020 |
| Operating activities |
|
|
| Net income |
$ 22,634
|
$ 104,928
|
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization |
13,508
|
11,607
|
| Amortization of deferred financing costs and debt discount |
3,449
|
2,312
|
| Stock compensation expense |
5,766
|
5,945
|
| Loss (gain) in fair value change of warrant liability |
60,714
|
(82,655)
|
| Unrealized (gain) loss on foreign currency transactions |
(712)
|
596
|
| Deferred income taxes |
13,670
|
8,055
|
| Amortization of operating lease right-of-use asset |
3,385
|
2,702
|
| Loss on operating lease right-of-use asset impairment |
686
|
0
|
| Gain on termination of lease |
(156)
|
0
|
| Other operating activities |
769
|
229
|
| Changes in operating assets and liabilities, net of acquisition: |
|
|
| Accounts receivable, net |
(28,737)
|
6,407
|
| Inventories |
(20,318)
|
(2,636)
|
| Prepaid expenses |
(1,189)
|
(351)
|
| Other current assets |
(5,376)
|
(7,865)
|
| Accounts payable |
13,380
|
(11,561)
|
| Accrued interest |
(626)
|
(406)
|
| Accrued expenses and other current liabilities |
12,745
|
(10,496)
|
| Other assets and liabilities |
(2,104)
|
(2,711)
|
| Net cash provided by operating activities |
91,488
|
24,100
|
| Investing activities |
|
|
| Purchases of property and equipment |
(3,232)
|
(766)
|
| Issuance of notes receivable |
0
|
(1,250)
|
| Acquisition of business, net of cash acquired |
0
|
(982,084)
|
| Proceeds from sale of business |
5,800
|
0
|
| Investments in intangible assets |
(114)
|
(206)
|
| Net cash provided by (used in) investing activities |
2,454
|
(984,306)
|
| Financing activities |
|
|
| Proceeds from option exercises |
700
|
931
|
| Tax payments related to issuance of restricted stock units |
(320)
|
(84)
|
| Payments on finance lease obligations |
(269)
|
(272)
|
| Principal payments of long-term debt |
(100,000)
|
(21,000)
|
| Proceeds from issuance of common stock |
0
|
352,542
|
| Equity issuance costs |
0
|
(3,323)
|
| Proceeds from issuance of long-term debt |
0
|
460,000
|
| Proceeds from Revolving Credit Facility |
0
|
25,000
|
| Deferred financing costs |
0
|
(8,208)
|
| Net cash (used in) provided by financing activities |
(99,889)
|
805,586
|
| Net decrease in cash |
(5,947)
|
(154,620)
|
| Cash and cash equivalents |
|
|
| Effect of exchange rate on cash |
273
|
(587)
|
| Cash at beginning of period |
95,847
|
266,341
|
| Cash and cash equivalents at end of period |
90,173
|
111,134
|
| Supplemental disclosures of cash flow information |
|
|
| Cash paid for interest |
21,529
|
21,976
|
| Cash paid for taxes |
15,282
|
4,647
|
| Non-cash proceeds from sale of business |
3,000
|
0
|
| Operating lease right-of-use assets recognized at ASU 2016-02 transition |
0
|
5,102
|
| Finance lease right-of-use assets recognized at ASU 2016-02 transition |
0
|
1,185
|
| Operating lease right-of-use assets recognized after ASU 2016-02 transition |
316
|
3,745
|
| Non-cash additions to property and equipment |
$ 84
|
$ 374
|