Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:            
Net loss $ (8,904)   $ (1,883) $ (21,655) $ (8,584)  
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:            
Depreciation and amortization 2,376   1,956 6,838 5,653  
Amortization and write off of debt issuance cost       5,722 2,790  
Amortization and write-off of discount on long-term debt       2,553    
Change in contingent consideration from acquisitions       3,220 (10,940)  
Bad debt expense       165 2,547  
Adjustment for recognition of TRA and deferred tax liability       (24)    
Equity based compensation       4,201 1,327  
Non-cash interest       765 1,019  
Gain on debt extinguishment       (3,707)    
Loss from disposal of assets       362 66  
Impairment of long-lived assets       781    
Changes in assets and liabilities:            
Accounts receivable       (1,913) 3,228  
Inventories       1,074 (316)  
Prepaid expenses and other current assets       (9,429) (4,308)  
Deferred costs       (4,811) (1,114)  
Notes receivable, net       148 56  
Accounts payable       (2,702) (2,124)  
Accrued expenses       (559) 4,532  
Related party payable       (1) (21)  
Other current liabilities       455 (1,041)  
Deferred revenue       22,372 3,282  
Other assets       18 (76)  
Other liabilities       52 101  
Net cash provided by (used in) operating activities       3,925 (3,923)  
Cash flows from investing activities:            
Purchases of property and equipment       (2,604) (1,577)  
Purchase of studios       (390) (876)  
Proceeds from sale of assets       318 58  
Purchase of intangible assets       (868) (729)  
Notes receivable issued       (1,000) (273)  
Notes receivable payment received       563    
Net cash used in investing activities       (3,981) (3,397)  
Cash flows from financing activities:            
Borrowings from line of credit         10,000  
Payments on line of credit         (18,000)  
Borrowings from long-term debt       218,360 188,665  
Payments on long-term debt       (309,860) (148,294)  
Debt issuance costs       (904) (5,158)  
Proceeds from the issuance of Class A common stock, net of underwriting costs       122,016    
Payments of costs related to IPO       (3,221)    
Payments to purchase 750,000 LLC units/Class B Shares       (9,000)    
Proceeds from issuance of redeemable convertible preferred stock, net of offering costs       198,396    
Payment to purchase all of the shares of LCAT from LCAT shareholders       (144,485)    
Payment of H&W Cash Merger Consideration       (11,720)    
Payments to acquire the Preferred Units and LLC Units       (20,493)    
Exchange of LLC units for Class B shares       2    
Payment of preferred stock dividend and deemed dividend       (4,117)    
Payment of contingent consideration       (12,006) (2,563)  
Payments on loans from related party       (85) (111)  
Member contributions       562 27,286  
Distributions to Member       (10,600) (73,203)  
Receipts from Member, net (Note 9)       1,456 30,279  
Net cash provided by financing activities       14,301 8,901  
Increase in cash, cash equivalents and restricted cash       14,245 1,581  
Cash, cash equivalents and restricted cash, beginning of period   $ 11,299   11,299 9,339 $ 9,339
Cash, cash equivalents and restricted cash, end of period $ 25,544   $ 10,920 25,544 10,920 $ 11,299
Supplemental cash flow information:            
Interest paid       13,582 13,157  
Income taxes paid       1,159 221  
Noncash investing and financing activity:            
Capital expenditures accrued       260 104  
Contingent consideration converted to Member contribution         $ 5,598  
Parent contribution of Rumble assets   $ 20,483   20,483    
Original contingent consideration related to Rumble       23,100    
Rumble note receivable from shareholder       10,600    
Adjustment of preferred stock to redemption value       1,604    
Adjustment of redeemable noncontrolling interest       13,148    
Deferred offering costs reclassified into equity       4,429    
Accrued deemed dividend       $ 4,875