DMC Global Inc

For the period ended Dec 31, 2023. Filed Feb 23, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 23, 2024

BOOM$7.77-4.3%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2023	2022	2021
Cash flows provided by (used in) operating activities:
Net income (loss)	$34,759	$13,833	$(1,010)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	13,840	14,281	11,303
Amortization of purchased intangible assets	22,667	36,926	1,391
Amortization of deferred debt issuance costs	553	553	248
Amortization of acquisition-related inventory valuation step-up	—	430	—
Stock-based compensation	10,270	10,058	6,574
Deferred income taxes	970	(599)	(1,846)
Unrealized gain on marketable securities	(148)	—	—
Asset impairments	2,471	—	—
Other	(181)	1,526	(77)
Change in:
Accounts receivable, net	(11,134)	(23,108)	(9,769)
Inventories	(9,461)	(33,766)	(12,440)
Prepaid expenses and other	15,619	9,118	(19,413)
Accounts payable	(6,727)	7,086	13,584
Contract liabilities	(10,527)	11,183	1,613
Accrued expenses and other liabilities	2,956	(2,585)	(2,970)
Net cash provided by (used in) operating activities	65,927	44,936	(12,812)
Cash flows used in investing activities:
Acquisition of business, net of cash acquired	—	—	(261,000)
Consideration adjustments related to acquisition of business	—	(2,404)	—
Promissory note to redeemable noncontrolling interest holder	—	—	(24,902)
Investment in marketable securities	(12,471)	—	(123,984)
Proceeds from maturities of marketable securities	—	—	4,799
Proceeds from sales of marketable securities	—	—	144,921
Acquisition of property, plant and equipment	(15,974)	(18,584)	(8,659)
Proceeds on sale of property, plant and equipment	344	62	1,019
Net cash used in investing activities	(28,101)	(20,926)	(267,806)
Cash flows (used in) provided by financing activities:
Borrowings on term loan	—	—	150,000
Repayments on term loan	(17,500)	(15,000)	—
Repayments on capital expenditure facility	—	—	(11,750)
Payments of debt issuance costs	—	(180)	(2,337)
Distributions to redeemable noncontrolling interest holder	(13,515)	(12,300)	—
Net proceeds from issuance of common stock through equity offering	—	—	123,461
Net proceeds from issuance of common stock through at-the-market offering program	—	—	25,262
Net proceeds from issuance of common stock to employees and directors	314	201	434
Treasury stock purchases	(2,481)	(1,231)	(2,485)
Net cash (used in) provided by financing activities	(33,182)	(28,510)	282,585
Effects of exchange rates on cash	1,252	(1,166)	656
Net increase (decrease) in cash and cash equivalents	5,896	(5,666)	2,623
Cash and cash equivalents, beginning of the period	25,144	30,810	28,187
Cash and cash equivalents, end of the period	$31,040	$25,144	$30,810

CONSOLIDATED STATEMENTS OF CASH FLOWS

Supplemental cash flow information:
Non-cash lease liabilities arising from obtaining right-of-use assets	4,335	3,978	41,219
Non-cash consideration for acquisition of business, net of cash acquired	$—	$740	$21,716
Cash paid during the period for -
Interest	9,188	6,236	51
Income taxes, net	4,418	2,860	7,533

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