Montauk Renewables, Inc.
For the period ended Jun 30, 2025. Filed Aug 6, 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.
Jun 30, 2025 · Filed Aug 6, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited consolidated statements of cash flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands):
| Six Months Ended June 30, | |||
|---|---|---|---|
| 2025 · 2024 | |||
| Cash flows from operating activities: | |||
| Net (loss) income | $(5,951) | $1,138 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, depletion and amortization | 13,293 | 11,257 | |
| Provision for deferred income taxes | 1,596 | 168 | |
| Stock-based compensation | 3,639 | 4,339 | |
| Derivative mark-to-market adjustments and settlements | 341 | (26) | |
| Net loss on sale of assets | 36 | 71 | |
| Increase (decrease) in earn-out liability | 360 | (465) | |
| Accretion of asset retirement obligations | 239 | 220 | |
| Liabilities associated with properties sold | — | (225) | |
| Amortization of debt issuance costs | 195 | 180 | |
| Impairment loss | 2,424 | 699 | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 629 | (9,232) | |
| Royalty offset long term receivable | (2,645) | (2,141) | |
| Critical spare inventory | (1,030) | 735 | |
| Prepaid Insurance and expenses | (2,003) | (2,779) | |
| Income tax payables | (606) | (819) | |
| Accounts payable and Accrued liabilities | 7,247 | 11,268 | |
| Other | (418) | 97 | |
| Net cash provided by operating activities | $17,346 | $14,485 | |
| Cash flows from investing activities: | |||
| Capital expenditures | $(45,298) | $(40,764) | |
| Asset acquisition | — | (820) | |
| Capital contributions to equity method investments | (2,150) | — | |
| Cash collateral deposits | 2 | 29 | |
| Net cash used in investing activities | $(47,446) | $(41,555) | |
| Cash flows from financing activities: | |||
| Borrowings on long term debt | $20,000 | $ | - |
| Repayments of long-term debt | (6,000) | (4,000) | |
| Common stock issuance | 4 | 2 | |
| Treasury stock purchase | (354) | (397) | |
| Finance lease payments | (36) | (32) | |
| Net cash provided (used) in financing activities | $13,614 | $(4,427) | |
| Net decrease in cash and cash equivalents and restricted cash | $(16,486) | $(31,497) | |
| Cash and cash equivalents and restricted cash at beginning of period | $46,004 | $74,242 | |
| Cash and cash equivalents and restricted cash at end of period | $29,518 | $42,745 | |
| Reconciliation of cash, cash equivalents, and restricted cash at end of period: | |||
| Cash and cash equivalents | $29,133 | $42,285 | |
| Restricted cash and cash equivalents - current | 8 | 8 | |
| Restricted cash and cash equivalents - non-current | 377 | 452 | |
| $29,518 | $42,745 | ||
| Six Months Ended June 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental cash flow information: | ||
| Cash paid for interest, net of $64 and $0 capitalized, respectively | $2,501 | $2,366 |
| Cash paid for income taxes | 569 | 1,407 |
| Accrual for purchase of property, plant and equipment included in accounts payable and accrued liabilities | 19,367 | 7,697 |
Cash and cash equivalents include highly liquid investments with maturity dates of three months or less from the date of purchase and are recorded at cost. The Company may hold cash in excess of federally insured limits. Restricted cash is classified as current or non-current based on the terms of the underlying agreements and represents cash held as deposits, cash held in escrow and cash collateral for financial letters of credit.
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