KESTRA MEDICAL TECHNOLOGIES, LTD.
For the period ended Apr 30, 2025. Filed Jul 17, 2025.
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FY2025 · Filed Jul 17, 2025
KMTS$29.55-1.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Year Ended April 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net loss | $(113,814) | $(94,120) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 7,968 | 11,560 |
| Loss on disposal of property and equipment | 2,094 | 1,070 |
| Provision for uncollectible accounts receivable | 2,694 | 500 |
| Interest paid-in-kind | 855 | 1,098 |
| Amortization of debt discounts and issuance costs | 1,400 | 610 |
| Share-based compensation expense | 24,270 | 1,488 |
| Non-cash lease expense | 416 | 729 |
| Deferred income tax expense | 64 | 12 |
| Non-cash loss on debt extinguishment | — | 930 |
| Change in fair value of warrant liability | 2,648 | — |
| Changes in operating assets and liabilities: | ||
| Disposable medical equipment supplies | (3,443) | (1,177) |
| Prepaid expenses and other current assets | (1,852) | 331 |
| Accounts receivable | (8,777) | (2,498) |
| Accounts payable | 2,842 | 7,340 |
| Accrued liabilities | 4,617 | 371 |
| Operating lease liabilities | 370 | (469) |
| Other long-term assets | 40 | (10) |
| Net cash used in operating activities | (77,608) | (72,235) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (22,936) | (12,226) |
| Deposits for medical rental equipment | (655) | (288) |
| Refund of deposits for medical rental equipment | 283 | 285 |
| Net cash used in investing activities | (23,308) | (12,229) |
| Cash flows from financing activities | ||
| Proceeds from issuance of redeemable preferred stock | 103,400 | 75,000 |
| Deemed dividend for payments to third party on behalf of shareholder | (1,654) | (799) |
| Proceeds from issuance of stock to non-controlling interest | 17,100 | — |
| Proceeds from issuance of long-term debt | — | 45,000 |
| Proceeds from issuance of Common Shares | 215,789 | — |
| Proceeds from capital contributions | 2,374 | — |
| Payment of debt issuance costs | — | (2,353) |
| Payment of equity issuance costs | (3,224) | — |
| Repayment of long-term debt | — | (39,123) |
| Payments of IPO offering costs | (3,523) | — |
| Net cash provided by financing activities | 330,262 | 77,725 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 229,346 | (6,739) |
| Cash, cash equivalents and restricted cash | ||
| Beginning of period | 8,583 | 15,322 |
| End of period | $237,929 | $8,583 |
| Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets | ||
|---|---|---|
| Cash and cash equivalents | $237,595 | $8,249 |
| Restricted cash | 334 | 334 |
| Cash, cash equivalents and restricted cash | $237,929 | $8,583 |
| Non-cash investing and financing activities: | ||
| Purchases of property and equipment in accrued liabilities and accounts payable | $7,029 | 11,066 |
| Capital contribution from West Affum LP to settle warrant obligation | — | 1,632 |
| IPO offering costs incurred but not yet paid | 1,875 | — |
| Issuance of warrants related to long-term debt | 5,449 | — |
| Conversion of redeemable preferred stock into Common Shares on completion of IPO | 280,510 | — |
| Supplemental disclosure of cash flow information | ||
| Income taxes paid (refunds received) | $83 | (30) |
| Interest paid | 4,851 | 3,630 |
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