NATURAL GAS SERVICES GROUP INC
For the period ended Mar 31, 2024. Filed May 15, 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.
Mar 31, 2024 · Filed May 15, 2024
NGS$28.74-1.1%Stored close · as of Nov 10, 2026
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Unaudited Condensed Consolidated Statements of Cash Flows
| NATURAL GAS SERVICES GROUP, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(unaudited) | ||
|---|---|---|
| Three months ended | ||
| March 31, | ||
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $5,098 | $370 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 7,087 | 6,165 |
| Amortization of debt issuance costs | 150 | 52 |
| Deferred income tax expense | 1,456 | 148 |
| Stock-based compensation | 274 | 487 |
| Bad debt allowance | 110 | 48 |
| Gain on sale of assets | — | (25) |
| Retirement of rental equipment | 5 | — |
| Loss (gain) on company owned life insurance | (184) | (18) |
| Changes in operating assets and liabilities: | ||
| Trade accounts receivables | (3,265) | (351) |
| Inventory | 2,650 | (986) |
| Prepaid expenses and prepaid income taxes | 250 | 497 |
| Accounts payable and accrued liabilities | (7,962) | 11,574 |
| Deferred income | (418) | 77 |
| Other | 358 | 184 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 5,609 | 18,222 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of rental equipment, property and other equipment | (10,932) | (47,792) |
| Purchase of company owned life insurance | (9) | (50) |
| NET CASH USED IN INVESTING ACTIVITIES | (10,941) | (47,842) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from loan | 8,000 | 36,011 |
| Payments of other long-term liabilities, net | (175) | (36) |
| Payments of debt issuance costs | — | (2,131) |
| Taxes paid related to net share settlement of equity awards | — | (184) |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 7,825 | 33,660 |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | 2,493 | 4,040 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 2,746 | 3,372 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $5,239 | $7,412 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Interest paid | $6,220 | $855 |
| NON-CASH TRANSACTIONS | ||
| Transfer of rental equipment to inventory | $— | $708 |
| Right of use asset acquired through a finance lease | $532 | $— |
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