Mobile Infrastructure Corp
For the period ended Dec 31, 2024. Filed Mar 11, 2025.
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FY2024 · Filed Mar 11, 2025
BEEP$2.370.0%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
(In thousands)
| 2024 | 2023 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net Loss | $(8,381) | $(38,238) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization expense | 8,403 | 8,512 |
| Amortization of loan costs | 1,329 | 1,236 |
| Loss on extinguishment of debt | 87 | 105 |
| Gain on settlement of liability | (823) | (1,155) |
| Loss on interest rate cap | 55 | 151 |
| Gain on sale of real estate | (2,651) | (660) |
| Equity based payment | 5,719 | 7,484 |
| Impairment | 157 | 8,982 |
| Issuance of Preferred Series 2 Stock | — | 16,101 |
| Change in fair value of Earn-Out liability | (844) | (4,065) |
| Changes in operating assets and liabilities | ||
| Due to/from related parties | (3) | 156 |
| Accounts payable and accrued expenses | (1,915) | 2,809 |
| Indemnification liability | (350) | — |
| Deferred offering costs | — | (3,022) |
| Other assets | (320) | (101) |
| Accounts receivable | (1,247) | (420) |
| Net cash (used in) operating activities | (784) | (2,125) |
| Cash flows from investing activities: | ||
| Capital expenditures | (511) | (1,821) |
| Proceeds on sale of investment in real estate | 4,746 | 1,475 |
| Net cash provided by (used in) investing activities | 4,235 | (346) |
| Cash flows from financing activities | ||
| Proceeds from Line of Credit | 27,238 | — |
| Payments on notes payable | (40,046) | (14,085) |
| Payments on Revolving Credit Facility | (58,700) | (15,000) |
| Proceeds from notes payable | 93,400 | — |
| Proceeds from reverse recap, net of payment of equity issuance costs | — | 38,866 |
| Payment of transaction costs for reverse recapitalization | — | (905) |
| Payment on interest rate cap | — | (205) |
| Distributions to non-controlling interest holders | (208) | (463) |
| Purchase of minority interest in subsidiary | (1,500) | — |
| Loan fees | (2,542) | — |
| Share repurchase plan | (1,326) | — |
| Shares repurchased for vesting of employee awards | (133) | — |
| Preferred redemption payments | (10,834) | — |
| Preferred dividend payments | (9,692) | — |
| Net cash (used in) provided by financing activities | (4,343) | 8,208 |
| Net change in cash, cash equivalents and restricted cash | (892) | 5,737 |
| Cash and cash equivalents and restricted cash, beginning of period | 16,711 | 10,974 |
| Cash and cash equivalents and restricted cash, end of period | $15,819 | $16,711 |
| Reconciliation of Cash and Cash Equivalents and Restricted Cash: | ||
| Cash and cash equivalents at beginning of period | 11,134 | 5,758 |
| Restricted cash at beginning of period | 5,577 | 5,216 |
| Cash and cash equivalents and restricted cash at beginning of period | $16,711 | $10,974 |
| Cash and cash equivalents at end of period | 10,655 | 11,134 |
| Restricted cash at end of period | 5,164 | 5,577 |
| Cash and cash equivalents and restricted cash at end of period | $15,819 | $16,711 |
| Supplemental disclosures of cash flow information: | ||
| Interest Paid | $11,095 | $12,740 |
| Non-cash investing and financing activities: | ||
| Distributions declared not yet paid | $95 | $2,752 |
| Preferred distributions paid in common stock | $2,452 | $791 |
| Right of use asset and lease liability | $332 | $— |
| Note receivable related to disposition of property | $3,120 | $— |
| Requested preferred redemptions not yet paid | $503 | $— |
| Common stock issued as loan fees | $1,740 | $— |
| Shares issued or to be issued in exchange for compensation | $1,103 | $— |
| Series 2 Preferred Stock dividend paid-in-kind | $— | $4,600 |
| Accrued capital expenditures | $595 | $647 |
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