Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (15,179) $ (4,750)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 3,492 2,055
Amortization of debt issuance cost 33 311
Amortization of discount on long-term debt 151  
Change in contingent consideration from acquisitions 9,546 120
Bad debt expense (recovery) (617) (105)
Equity based compensation 15,248 222
Non Cash Interest (208) 226
Gain on disposal of assets (43)  
Changes in assets and liabilities:    
Accounts receivable (3,300) (1,173)
Inventories (2,289) 430
Prepaid expenses and other current assets (2,117) (985)
Operating lease right-of-use assets and operating lease liabilities (20)  
Deferred costs (818) (533)
Notes receivable, net 5 168
Accounts payable (2,758) (1,797)
Accrued expenses (3,650) 491
Notes payable (983)  
Other current liabilities 20 65
Deferred revenue 5,924 5,033
Other assets (10) (1)
Other liabilities 461 23
Net cash provided by (used in) operating activities 2,888 (200)
Cash flows from investing activities:    
Purchases of property and equipment (1,798) (1,125)
Purchase of studios   (245)
Proceeds from sale of assets 65  
Purchase of intangible assets (316) (288)
Notes receivable issued (585)  
Notes receivable payment received 426 9
Net cash used in investing activities (2,208) (1,649)
Cash flows from financing activities:    
Borrowings from long-term debt   10,600
Payments on long-term debt (740) (925)
Debt issuance costs (46) (212)
Payment of preferred stock dividend and deemed dividend (4,875)  
Payment of contingent consideration (589) (964)
Distributions to Member   (10,600)
Receipts from Member, net (Note 9)   1
Net cash used in financing activities (6,250) (2,100)
Decrease in cash, cash equivalents and restricted cash (5,570) (3,949)
Cash, cash equivalents and restricted cash, beginning of period 21,320 11,299
Cash, cash equivalents and restricted cash, end of period 15,750 7,350
Supplemental cash flow information:    
Interest paid 2,499 3,810
Income taxes paid 146 49
Operating cash flows, net used in operating leases 908  
Noncash investing and financing activity:    
Capital expenditures accrued 807 552
Parent contribution of Rumble assets   $ 20,483
Adjustment of preferred stock to redemption value $ 50,931