Onterris, Inc.
For the period ended Mar 31, 2025. Filed May 8, 2025.
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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.
Mar 31, 2025 · Filed May 8, 2025
ONT$23.66+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Cash Flows
(In thousands)
| For the Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities: | ||
| Net loss | $(19,359) | $(13,357) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Provision (recovery) for credit loss | 407 | (886) |
| Depreciation and amortization | 13,294 | 11,653 |
| Non-cash leases expense | 3,085 | 2,625 |
| Stock-based compensation expense | 13,723 | 11,272 |
| Fair value changes in financial instruments | 308 | (297) |
| Write off of deferred financing costs | 908 | — |
| Deferred income taxes | 4,174 | (414) |
| Other operating activities, net | 1,354 | 15 |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Accounts receivable and contract assets | 10,358 | (9,093) |
| Prepaid expenses and other current assets | (5,473) | (2,538) |
| Accounts payable and other accrued liabilities | (5,637) | (7,824) |
| Accrued payroll and benefits | (8,622) | (10,000) |
| Change in operating leases | (3,016) | (3,177) |
| Net cash provided by (used in) operating activities | $5,504 | $(22,021) |
| Investing activities: | ||
| Purchases of property and equipment and software development costs | (3,154) | (7,279) |
| Purchase price true ups | (562) | 320 |
| Proceeds from other activities | 11 | 40 |
| Cash paid for acquisitions, net of cash acquired | — | (58,119) |
| Net cash used in investing activities | $(3,705) | $(65,038) |
| Financing activities: | ||
| Proceeds from revolving line of credit | 106,945 | 166,995 |
| Repayment of the revolving line of credit | (97,246) | (78,799) |
| Repayment of aircraft loan | (280) | (261) |
| Proceeds from term loan | 200,000 | 50,000 |
| Repayment of term loan | (189,219) | (3,281) |
| Payment of contingent consideration and other purchase price true ups | (297) | (363) |
| Repayment of finance leases | (1,563) | (1,083) |
| Payments of deferred financing costs | (2,189) | (348) |
| Proceeds from issuance of common stock for exercised stock options | 61 | 487 |
| Proceeds from CTEH building financing | 2,500 | — |
| Dividend payment to the Series A-2 stockholders | (2,750) | — |
| Repayment to the Series A-2 stockholders | — | (60,000) |
| Net cash provided by financing activities | $15,962 | $73,347 |
| Change in cash, cash equivalents and restricted cash | 17,761 | (13,712) |
| Foreign exchange impact on cash balance | (420) | (42) |
| Cash, cash equivalents and restricted cash: | ||
| Beginning of year | 12,935 | 23,240 |
| End of period | $30,276 | $9,486 |
| For the Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental disclosures of cash flows information: | ||
| Cash paid for interest | $3,874 | $3,098 |
| Cash paid for income tax | $930 | $292 |
| Supplemental disclosures of non-cash investing and financing activities: | ||
| Accrued purchases of property and equipment | $156 | $163 |
| Property and equipment purchased under finance leases | $2,779 | $2,058 |
| Common stock issued to acquire new businesses | $— | $6,580 |
| Acquisitions unpaid contingent consideration | $26,700 | $40,461 |
| Acquisitions contingent consideration paid in common stock | $6,558 | $1,087 |
| Accrued dividend payment | $— | $2,814 |
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