MOTORCAR PARTS OF AMERICA INC

For the period ended Sep 30, 2024. Filed Nov 12, 2024.

About this filing

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.

Sep 30, 2024 · Filed Nov 12, 2024

MPAA$7.42-3.9%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows

Cash Flows

	Six Months Ended
	September 30,
	2024	2023
Cash flows from operating activities:
Net loss	$(21,039,000)	$(3,368,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	5,330,000	5,966,000
Amortization of debt issuance costs	1,085,000	1,286,000
Amortization of interest on contract liabilities	396,000	486,000
Accrued interest on convertible notes, related party	1,760,000	1,600,000
Amortization of core premiums paid to customers	4,872,000	4,994,000
Amortization of finished goods premiums paid to customers	477,000	370,000
Noncash lease expense	4,988,000	5,063,000
Foreign exchange impact of lease liabilities and forward contracts	16,506,000	490,000
Change in fair value of compound net derivative liability	(2,200,000)	530,000
Gain on short-term investments	(132,000)	(86,000)
Net provision for inventory reserves	7,455,000	6,770,000
Net provision for customer payment discrepancies and credit losses	355,000	1,419,000
Deferred income taxes	(3,325,000)	(145,000)
Share-based compensation expense	2,016,000	2,843,000
Loss on disposal of plant and equipment	67,000	8,000
Changes in operating assets and liabilities:
Accounts receivable	(17,216,000)	(42,576,000)
Inventory	11,109,000	(16,871,000)
Prepaid expenses and other current assets	456,000	1,962,000
Other assets	(1,341,000)	(704,000)
Accounts payable and accrued liabilities	(12,671,000)	24,509,000
Customer finished goods returns accrual	(613,000)	(8,065,000)
Contract assets	(4,865,000)	(4,971,000)
Contract liabilities	15,359,000	16,953,000
Operating lease liabilities	(4,470,000)	(4,090,000)
Other liabilities	(2,348,000)	457,000
Net cash provided by (used in) operating activities	2,011,000	(5,170,000)
Cash flows from investing activities:
Purchase of plant and equipment	(1,047,000)	(169,000)
Redemption of short-term investments	68,000	61,000
Net cash used in investing activities	(979,000)	(108,000)
Cash flows from financing activities:
Borrowings under revolving loan	202,628,000	32,005,000
Repayments of revolving loan	(205,937,000)	(12,205,000)
Repayments of term loan	-	(13,125,000)
Payments for debt issuance costs	(15,000)	(1,426,000)
Payments on finance lease obligations	(860,000)	(962,000)
Cash used to net share settle equity awards	(181,000)	(279,000)
Net cash (used in) provided by financing activities	(4,365,000)	4,008,000
Effect of exchange rate changes on cash and cash equivalents	(228,000)	(33,000)
Net decrease in cash and cash equivalents	(3,561,000)	(1,303,000)
Cash and cash equivalents — Beginning of period	13,974,000	11,596,000
Cash and cash equivalents — End of period	$10,413,000	$10,293,000
Supplemental disclosures of cash flow information:
Cash paid for interest, net	$24,843,000	$23,831,000
Cash paid for income taxes, net of refunds	3,276,000	4,890,000
Cash paid for operating leases	6,804,000	6,558,000
Cash paid for finance leases	956,000	1,081,000
Plant and equipment acquired under finance leases	164,000	33,000
Assets acquired under operating leases	2,512,000	867,000
Non-cash capital expenditures	24,000	120,000
Debt issuance costs included in accounts payable and accrued liabilities	-	97,000

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.