Advantage Solutions Inc
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
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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.
FY2024 · Filed Mar 7, 2025
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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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss from continuing operations | $(378,404) | $(81,211) | $(1,418,652) |
| Adjustments to reconcile net loss to net cash provided by operating activities | |||
| Non-cash interest expense (income) | 5,227 | (7,728) | (43,810) |
| Deferred financing fees related to repricing of long-term debt | 1,079 | — | — |
| Amortization of deferred financing fees | 6,766 | 8,292 | 8,860 |
| Impairment of goodwill and indefinite-lived asset | 275,170 | 43,500 | 1,572,523 |
| Depreciation and amortization | 204,553 | 208,856 | 216,046 |
| Change in fair value of warrant liability | (584) | (286) | (21,236) |
| Fair value adjustments related to contingent consideration | 1,678 | 11,152 | 6,572 |
| Deferred income taxes | (57,307) | (80,416) | (190,754) |
| Equity-based compensation of Karman Topco L.P. | 723 | (2,524) | (6,934) |
| Stock-based compensation | 31,019 | 38,933 | 35,101 |
| Income from equity method investments | (2,064) | (5,511) | (10,609) |
| Distribution received from equity method investments | 3,289 | 2,100 | 1,826 |
| Gain on deconsolidation of subsidiaries | — | (58,891) | — |
| Gain on repurchases of Senior Secured Notes and Term Loan Facility debt | (9,141) | (8,665) | — |
| Loss on disposal of property and equipment | 1,274 | 3,318 | 644 |
| Loss on divestiture | — | — | 2,863 |
| Changes in operating assets and liabilities, net of effects from divestitures: | |||
| Accounts receivable, net | 51,154 | 38,899 | (85,737) |
| Prepaid expenses and other assets | 28,396 | 100,841 | 15,051 |
| Accounts payable | (12,918) | (23,066) | (14,164) |
| Accrued compensation and benefits | (30,380) | 27,458 | 17,854 |
| Deferred revenues | (2,129) | 8,551 | (10,930) |
| Other accrued expenses and other liabilities | (24,306) | 4,890 | 30,191 |
| Net cash provided by operating activities | 93,095 | 228,492 | 104,705 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Purchase of businesses, net of cash acquired | — | — | (74,206) |
| Purchase of investments in unconsolidated affiliates | (13,932) | (3,023) | (775) |
| Purchase of property and equipment | (7,838) | (20,691) | (12,351) |
| Purchase of capitalized software | (47,501) | (20,872) | (20,664) |
| Proceeds from divestitures, net of cash | 275,717 | 21,108 | 1,896 |
| Deconsolidation of subsidiaries cash and cash equivalents and restricted cash, net of proceeds | — | (31,465) | — |
| Proceeds from sale of investments in unconsolidated affiliates | — | 4,428 | — |
| Net cash provided by (used in) investing activities | 206,446 | (50,515) | (106,100) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Borrowings under lines of credit | — | 99,538 | 326,090 |
| Payments on lines of credit | — | (99,102) | (326,968) |
| Principal payments on long-term debt | (13,131) | (13,294) | (13,293) |
| Repurchases of Senior Secured Notes and Term Loan Facility debt | (147,122) | (156,559) | — |
| Debt issuance costs | (971) | — | — |
| Proceeds from issuance of common stock | 2,294 | 2,248 | 3,320 |
| Payments for taxes related to net share settlement under 2020 Incentive Award Plan | (12,765) | (1,880) | — |
| Contingent consideration payments | (5,655) | (1,867) | (13,002) |
| Holdback payments | — | (944) | (11,057) |
| Financing fees paid | — | — | (1,464) |
| Contribution from noncontrolling interest | — | — | 5,217 |
| Redemption of noncontrolling interest | — | (154) | (224) |
| Purchase of treasury stock | (34,067) | (6,382) | — |
| Net cash used in financing activities | (211,417) | (178,396) | (31,381) |
| Net effect of foreign currency changes on cash, cash equivalents and restricted cash | (4,575) | 1,800 | (7,872) |
| Net change in cash, cash equivalents and restricted cash | 83,549 | 1,381 | (40,648) |
| Cash, cash equivalents and restricted cash, beginning of period | 137,202 | 135,821 | 176,469 |
| Cash, cash equivalents and restricted cash, end of period | $220,751 | $137,202 | $135,821 |
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