MOTORCAR PARTS OF AMERICA INC

For the period ended Dec 31, 2024. Filed Feb 10, 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.

Dec 31, 2024 · Filed Feb 10, 2025

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

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Contents

Condensed Consolidated Statements of Cash Flows

	Nine Months Ended
	December 31,
	2024	2023
Cash flows from operating activities:
Net loss	$(18,748,000)	$(50,582,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	7,862,000	8,844,000
Amortization of debt issuance costs	1,647,000	1,809,000
Amortization of interest on contract liabilities	578,000	719,000
Accrued interest on convertible notes, related party	2,640,000	2,400,000
Amortization of core premiums paid to customers	7,310,000	7,627,000
Amortization of finished goods premiums paid to customers	703,000	575,000
Noncash lease expense	7,265,000	7,614,000
Foreign exchange impact of lease liabilities and forward contracts	18,966,000	(2,659,000)
Change in fair value of compound net derivative liability	(2,460,000)	1,690,000
Gain on short-term investments	(126,000)	(237,000)
Net provision for inventory reserves	11,317,000	9,637,000
Net provision for customer payment discrepancies and credit losses	324,000	1,112,000
Deferred income taxes	(3,479,000)	29,721,000
Share-based compensation expense	3,009,000	4,268,000
(Gain) loss on disposal of plant and equipment	(6,000)	9,000
Changes in operating assets and liabilities:
Accounts receivable	12,475,000	26,272,000
Inventory	17,546,000	(46,558,000)
Prepaid expenses and other current assets	(1,000,000)	5,316,000
Other assets	(1,392,000)	(392,000)
Accounts payable and accrued liabilities	(22,854,000)	38,734,000
Customer finished goods returns accrual	2,637,000	(190,000)
Contract assets	(18,031,000)	(7,639,000)
Contract liabilities	18,300,000	15,561,000
Operating lease liabilities	(6,754,000)	(6,368,000)
Other liabilities	(1,361,000)	1,162,000
Net cash provided by operating activities	36,368,000	48,445,000
Cash flows from investing activities:
Purchase of plant and equipment	(1,716,000)	(462,000)
Proceeds for the sale of plant and equipment	49,000	-
Redemption of short-term investments	53,000	42,000
Net cash used in investing activities	(1,614,000)	(420,000)
Cash flows from financing activities:
Borrowings under revolving loan	375,461,000	64,005,000
Repayments of revolving loan	(408,659,000)	(94,205,000)
Repayments of term loan	-	(13,125,000)
Payments for debt issuance costs	(15,000)	(2,617,000)
Payments on finance lease obligations	(1,306,000)	(1,425,000)
Cash used to net share settle equity awards	(181,000)	(279,000)
Repurchase of common stock	(2,096,000)	-
Net cash used in financing activities	(36,796,000)	(47,646,000)
Effect of exchange rate changes on cash and cash equivalents	(1,122,000)	180,000
Net (decrease) increase in cash and cash equivalents	(3,164,000)	559,000
Cash and cash equivalents — Beginning of period	13,974,000	11,596,000
Cash and cash equivalents — End of period	$10,810,000	$12,155,000
Supplemental disclosures of cash flow information:
Cash paid for interest, net	$37,845,000	$40,826,000
Cash paid for income taxes, net of refunds	4,338,000	8,143,000
Cash paid for operating leases	10,183,000	10,025,000
Cash paid for finance leases	1,446,000	1,595,000
Plant and equipment acquired under finance leases	684,000	33,000
Assets acquired under operating leases	2,512,000	879,000
Non-cash capital expenditures	144,000	71,000
Debt issuance costs included in accounts payable and accrued liabilities	-	1,340,000

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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.