Envela Corp
For the period ended Dec 31, 2024. Filed Mar 26, 2025.
View on SEC.govAbout this filing
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.
FY2024 · Filed Mar 26, 2025
ELA$10.54-0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year Ended December 31, | ||||||
| · 2024 · 2023 | ||||||
| Operations · · · · | ||||||
| Net income | | $6,757,059 | | $7,147,452 | ||
| Adjustments to reconcile net income to net cash provided by operations: | | | ||||
| Depreciation and amortization | | 1,551,774 | | 1,362,064 | ||
| Provision for credit losses | | 234,853 | | 300,431 | ||
| Deferred taxes | | (88,194) | | 1,526,926 | ||
| Non-cash lease expense | | 2,083,178 | | 1,895,428 | ||
| Loss on disposal of equipment | | | 7,084 | | | — |
| Changes in operating assets and liabilities: | | | ||||
| Accounts receivable | | 3,192,068 | | (161,815) | ||
| Inventories | | (2,559,347) | | (4,390,392) | ||
| Prepaid expenses | | 208,222 | | 149,392 | ||
| Other assets | | (64,129) | | 15,728 | ||
| Accounts payable | | 50,807 | | (232,139) | ||
| Accrued expenses | | 728,920 | | 199,829 | ||
| Operating leases | | (2,155,389) | | (1,899,365) | ||
| Other liabilities | | 243,734 | | (70,831) | ||
| | | | | | | |
| Net cash provided by operations | | 10,190,640 | | 5,842,708 | ||
| | | | | | | |
| Investing | | | ||||
| Purchase of property and equipment | | (3,459,506) | | (2,047,036) | ||
| Purchase of intangible assets | | (298,898) | | (191,075) | ||
| Investment in notes receivable | | | (2,000) | | | 578,250 |
| Acquisition, Scottsdale Transaction | | — | | (100,000) | ||
| | | | | | | |
| Net cash (used in) investing | | (3,760,404) | | (1,759,861) | ||
| | | | | | | |
| Financing | | | ||||
| Payments on notes payable | | (1,261,312) | | (1,243,914) | ||
| Purchase of treasury stock | | | (2,413,774) | | | (2,155,049) |
| | | | | | | |
| Net cash (used in) financing | | (3,675,086) | | (3,398,963) | ||
| | | | | | | |
| Net change in cash and cash equivalents | | 2,755,150 | | 683,884 | ||
| Cash and cash equivalents, beginning of period | | 17,853,853 | | 17,169,969 | ||
| | | | | | | |
| Cash and cash equivalents, end of period | | $20,609,003 | | $17,853,853 | ||
| | | | | | | |
| Supplemental disclosures | | | ||||
| Cash paid during the period for: | | | ||||
| Interest | | $449,032 | | $463,561 | ||
| Income Taxes | | $2,270,708 | | $197,561 | ||
| | | | | | | |
| Noncash investing and financing activities | | | | | | |
| Scottsdale Transaction measurement period adjustment, addition to intangible assets, reduction to goodwill | | | 27,500 | | | — |
| Scottsdale Transaction measurement period adjustment, addition to property and equipment, reduction to goodwill | | | 122,500 | | | — |
| Scottsdale Transaction measurement period adjustment, reduction to notes payable, reduction to goodwill | | | 150,000 | | | — |
| Scottsdale Transaction, addition to notes payable, addition to goodwill | | | — | | | 200,000 |
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