COMSCORE INC
For the period ended Dec 31, 2023. Filed Mar 12, 2024.
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FY2023 · Filed Mar 12, 2024
SCOR$3.12-5.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31, | |||
|---|---|---|---|
| (In thousands) | 2023 | 2022 | 2021 |
| Operating activities: | |||
| Net loss | $(79,361) | $(66,561) | $(50,037) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Impairment of goodwill | 78,200 | 46,300 | — |
| Depreciation | 19,778 | 16,828 | 15,793 |
| Non-cash operating lease expense | 5,456 | 6,060 | 5,345 |
| Amortization of intangible assets | 5,213 | 27,096 | 25,038 |
| Stock-based compensation expense | 4,535 | 8,178 | 13,848 |
| Amortization expense of finance leases | 1,929 | 2,364 | 2,188 |
| Impairment of right-of-use and long-lived assets | 1,502 | 156 | — |
| Change in fair value of contingent consideration liability | 350 | 2,558 | — |
| Deferred tax provision | (35) | (475) | (1,719) |
| Change in fair value of warrant liability | (49) | (9,802) | 7,689 |
| Loss on extinguishment of debt | — | — | 9,629 |
| Non-cash interest expense on senior secured convertible notes (1) | — | — | 4,692 |
| Accretion of debt discount | — | — | 1,620 |
| Change in fair value of financing derivatives | — | — | (1,800) |
| Other | 1,947 | 1,910 | 1,380 |
| Changes in operating assets and liabilities, net of effect of acquisition: | |||
| Accounts receivable | 4,781 | 2,596 | (2,081) |
| Prepaid expenses and other assets | 2,185 | (805) | (1,145) |
| Accounts payable, accrued expenses, and other liabilities | (4,121) | 7,396 | (4,210) |
| Contract liability and customer advances | (5,517) | (1,587) | (10,777) |
| Operating lease liabilities | (7,867) | (7,275) | (5,597) |
| Net cash provided by operating activities | 28,926 | 34,937 | 9,856 |
| Investing activities: | |||
| Capitalized internal-use software costs | (22,206) | (16,685) | (14,747) |
| Purchases of property and equipment | (1,580) | (1,137) | (803) |
| Cash and restricted cash acquired from acquisition | — | — | 902 |
| Net cash used in investing activities | (23,786) | (17,822) | (14,648) |
| Financing activities: | |||
| Principal payments on finance leases | (2,066) | (2,519) | (2,138) |
| Contingent consideration payment at initial value | (1,037) | — | — |
| Payments for dividends on convertible redeemable preferred stock (1) | — | (15,512) | (4,760) |
| Principal payment and extinguishment costs on senior secured convertible notes (1) | — | — | (204,014) |
| Principal payment and extinguishment costs on secured term note | — | — | (14,031) |
| Proceeds from borrowings on revolving line of credit | — | — | 16,000 |
| Proceeds from issuance of convertible redeemable preferred stock, net of issuance costs (1) | — | — | 187,885 |
| Other | (291) | (101) | (1,394) |
| Net cash used in financing activities | (3,394) | (18,132) | (22,452) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 748 | (820) | (1,218) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 2,494 | (1,837) | (28,462) |
| Cash, cash equivalents and restricted cash at beginning of period | 20,442 | 22,279 | 50,741 |
| Cash, cash equivalents and restricted cash at end of period | $22,936 | $20,442 | $22,279 |
| As of December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash and cash equivalents | $22,750 | $20,044 | $21,854 |
| Restricted cash | 186 | 398 | 425 |
| Total cash, cash equivalents and restricted cash | $22,936 | $20,442 | $22,279 |
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental cash flow disclosures: | |||
| Interest paid | $1,542 | $652 | $1,009 |
| Income taxes paid, net of refunds | 2,108 | 1,804 | 1,831 |
| Operating cash flows from operating leases | 10,922 | 10,364 | 9,623 |
| Operating cash flows from finance leases | 244 | 338 | 440 |
| Supplemental non-cash activities: | |||
| Convertible redeemable preferred stock dividends accrued but not yet paid (1) | 16,270 | 7,863 | 7,863 |
| Settlement of restricted stock unit liability | 2,762 | 1,718 | 7,117 |
| Change in accounts payable and accrued expenses related to capital expenditures | 1,130 | 1,162 | 479 |
| Right-of-use assets obtained in exchange for finance lease liabilities | 3,195 | 1,106 | 3,345 |
| Right-of-use assets obtained in exchange for new operating lease liabilities | 1,211 | 908 | 5,211 |
| Fair value of Common Stock issued in connection with acquisition | — | — | 25,774 |
| Interest paid in Common Stock (1) | — | — | 10,812 |
| Conversion shares issued as extinguishment cost on senior secured convertible notes (1) | — | — | 9,608 |
| Fair value of contingent consideration recognized upon closing of acquisition | — | — | 5,600 |
(1) Transactions for these line items were exclusively with related parties (refer to Footnote 5, Convertible Redeemable Preferred Stock and Stockholders' Equity, Footnote 6, Debt, and Footnote 14, Related Party Transactions, of the Notes to Consolidated Financial Statements for additional information). Gross proceeds from related parties for the issuance of convertible redeemable preferred stock were $204.0 million.
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