Advantage Solutions Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
ADV$32.29-2.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(146,726) | $(78,106) |
| Net (loss) income from discontinued operations, net of tax | 53,743 | 443 |
| Net loss from continuing operations | (200,469) | (78,549) |
| Adjustments to reconcile net loss to net cash provided by operating activities | ||
| Noncash interest income (expense) | 1,664 | (12,699) |
| Deferred financing fees related to repricing of long-term debt | 1,079 | — |
| Amortization of deferred financing fees | 5,137 | 6,387 |
| Impairment of goodwill and indefinite-lived assets | 99,670 | — |
| Depreciation and amortization | 152,931 | 157,436 |
| Change in fair value of warrant liability | (359) | 587 |
| Fair value adjustments related to contingent consideration | 1,678 | 10,487 |
| Deferred income taxes | (16,241) | (56,986) |
| Equity-based compensation of Karman Topco L.P. | (658) | (3,278) |
| Stock-based compensation | 24,224 | 29,401 |
| Loss from equity method investments | (2,692) | (4,132) |
| Distribution received from equity method investments | 3,289 | 1,611 |
| Gain on repurchases of Senior Secured Notes and Term Loan Facility debt | (9,141) | (5,241) |
| Loss on disposal of property and equipment | 775 | 782 |
| Changes in operating assets and liabilities, net of effects from divestitures: | ||
| Accounts receivable, net | (9,550) | 19,816 |
| Prepaid expenses and other assets | 30,567 | 87,368 |
| Accounts payable | 25,435 | (1,883) |
| Accrued compensation and benefits | (43,849) | (13,511) |
| Deferred revenues | 2,992 | 14,686 |
| Other accrued expenses and other liabilities | 11,527 | 20,294 |
| Net cash provided by operating activities from continuing operations | 78,009 | 172,576 |
| Net cash provided by operating activities from discontinued operations | 6,437 | 8,227 |
| Net cash provided by operating activities | 84,446 | 180,803 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of investments in unconsolidated affiliates | (13,932) | (3,023) |
| Purchase of property and equipment | (50,358) | (24,424) |
| Proceeds from divestitures, net of cash | 275,717 | 12,763 |
| Proceeds from sale of investments in unconsolidated affiliates | — | 4,428 |
| Net cash provided by (used in) investing activities from continuing operations | 211,427 | (10,256) |
| Net cash used in investing activities from discontinued operations | (7,304) | (5,234) |
| Net cash provided by (used in) investing activities | 204,123 | (15,490) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Borrowings under lines of credit | — | 77,884 |
| Payments on lines of credit | — | (77,222) |
| Principal payments on long-term debt | (9,938) | (10,172) |
| Repurchases of Senior Secured Notes and Term Loan Facility debt | (147,122) | (103,954) |
| Debt issuance costs | (971) | — |
| Proceeds from issuance of common stock | 2,294 | 2,248 |
| Payments for taxes related to net share settlement under 2020 Incentive Award Plan | (11,663) | (1,277) |
| Contingent consideration payments | (5,655) | (1,867) |
| Holdback payments | — | (656) |
| Redemption of noncontrolling interest | — | (154) |
| Purchase of treasury stock | (34,067) | — |
| Net cash used in financing activities from continuing operations | (207,122) | (115,170) |
| Net cash (used in) provided by financing activities from discontinued operations | (4,362) | 397 |
| Net cash used in financing activities | (211,484) | (114,773) |
| Net effect of foreign currency changes on cash from continuing operations | (1,405) | 655 |
| Net effect of foreign currency changes on cash from discontinued operations | (412) | (2,017) |
| Net effect of foreign currency changes on cash | (1,817) | (1,362) |
| Net change in cash, cash equivalents and restricted cash | 75,268 | 49,178 |
| Cash, cash equivalents and restricted cash, beginning of period | 137,202 | 138,532 |
| Cash, cash equivalents and restricted cash, end of period | 212,470 | 187,710 |
| Less: Cash, cash equivalents and restricted cash of discontinued operations | — | 4,024 |
| Cash, cash equivalents and restricted cash, end of period | $212,470 | $183,686 |
| SUPPLEMENTAL CASH FLOW INFORMATION | ||
| Gain on divestitures from discontinued operations | $95,260 | $— |
| Noncash consideration for purchases of investments in unconsolidated affiliates | $2,000 | $— |
| Noncash proceeds from divestitures | $45,056 | $— |
| Purchase of property and equipment recorded in accounts payable and accrued expenses | $4,650 | $437 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.