v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (3,901) $ (15,978)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,764 4,282
Asset impairments 484 22,750
(Gain) loss on sale of fixed assets, net (79) 60
Gain on extinguishment of debt   (9,061)
Gain on insurance recoveries (1,200)  
Stock-based compensation expense 1,464 1,180
Changes in operating assets and liabilities:    
Contract receivables and retainage, net (17,026) 7,164
Contract assets (3,048) (4,436)
Prepaid expenses, inventory and other current assets 1,203 (471)
Accounts payable 2,811 (13,261)
Contract liabilities (2,355) (6,342)
Accrued expenses and other current liabilities (288) 904
Noncurrent assets and liabilities, net (654) (600)
Net cash used in operating activities (18,825) (11,228)
Cash flows from investing activities:    
Capital expenditures (1,032) (1,080)
Proceeds from Shipyard Transaction, net of transaction costs 886 31,677
Proceeds from sale of property and equipment 2,035 4,439
Recoveries from insurance claims 1,200  
Purchases of short-term investments (9,809)  
Maturities of short-term investments   8,000
Net cash provided by (used in) investing activities (6,720) 43,036
Cash flows from financing activities:    
Repayment of borrowings   (1,050)
Payments on Insurance Finance Arrangement (963)  
Tax payments for vested stock withholdings (121) (108)
Net cash used in financing activities (1,084) (1,158)
Net increase (decrease) in cash, cash equivalents and restricted cash (26,629) 30,650
Cash, cash equivalents and restricted cash, beginning of period 54,589 43,159
Cash, cash equivalents and restricted cash, end of period $ 27,960 73,809
Supplemental cash flow information:    
Forgiveness of principal and interest of PPP Loan   9,061
Shipyard Transactions    
Adjustments to reconcile net loss to net cash used in operating activities:    
Asset impairments   22,800
(Gain) loss on sale of fixed assets, net   $ 2,581

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