Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 16,298 $ (12,751)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 7,071 4,462
Amortization of debt issuance cost 64 5,350
Amortization of discount on long-term debt 303 271
Change in contingent consideration from acquisitions (22,081) 340
Bad debt expense (recovery) (773) 10
Equity based compensation 19,677 671
Non Cash Interest (448) 512
Gain on debt extinguishment 0 (3,707)
(Gain) loss on disposal of assets (68) 179
Impairment of long-lived assets 0 781
Changes in assets and liabilities:    
Accounts receivable (6,964) (2,619)
Inventories (7,359) 876
Prepaid expenses and other current assets (635) (3,217)
Operating lease right-of-use assets and operating lease liabilities (24) 0
Deferred costs (1,116) (1,809)
Notes receivable, net 13 177
Accounts payable 10,819 (3,241)
Accrued expenses (2,216) 2,059
Related party payable 0 (315)
Other current liabilities 380 129
Deferred revenue 12,652 12,302
Other assets (85) 26
Other liabilities 686 24
Net cash provided by operating activities 26,194 510
Cash flows from investing activities:    
Purchases of property and equipment (4,394) (2,023)
Purchase of studios 0 (390)
Proceeds from sale of assets 65 0
Purchase of intangible assets (912) (568)
Notes receivable issued (1,365) 0
Notes receivable payments received 971 550
Net cash used in investing activities (5,635) (2,113)
Cash flows from financing activities:    
Borrowings from long-term debt 0 218,360
Payments on long-term debt (1,480) (194,330)
Debt issuance costs (46) (904)
Payment of preferred stock dividend and deemed dividend (9,750) 0
Payment of contingent consideration (1,336) (1,935)
Payments on loans from related party (Note 10) 0 (86)
Distributions to Member 0 (10,600)
Receipts from Member, net (Note 9) 0 2
Net cash provided by (used in) financing activities (12,612) 10,507
Increase in cash, cash equivalents and restricted cash 7,947 8,904
Cash, cash equivalents and restricted cash, beginning of period 21,320 11,299
Cash, cash equivalents and restricted cash, end of period 29,267 20,203
Supplemental cash flow information:    
Interest paid 5,019 10,672
Income taxes paid 2,003 258
Operating cash flows, net used in operating leases 1,745 0
Noncash investing and financing activity:    
Capital expenditures accrued 383 201
Parent contribution of Rumble assets 0 20,483
Adjustment of preferred stock to redemption value (76,890) 0
Intangible asset acquired in exchange for deferred revenue 4,800 0
Acquisition of intangible assets accrued $ 5,500 $ 0