Honest Company Inc
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
HNST$5.20+0.6%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)
| For the year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net loss | $(39,238) | $(49,019) | $(38,679) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 2,740 | 2,753 | 4,146 |
| Stock-based compensation | 15,804 | 15,078 | 16,847 |
| Other | 6,257 | 6,345 | 311 |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | (750) | (10,550) | (8,989) |
| Inventories | 42,174 | (39,996) | 1,001 |
| Prepaid expenses and other assets | 8,005 | (4,358) | (6,114) |
| Accounts payable, accrued expenses and other long-term liabilities | (9,347) | 10,396 | (6,691) |
| Deferred revenue | 1,396 | 83 | 14 |
| Operating lease liabilities | (7,688) | (7,007) | — |
| Net cash provided by (used in) operating activities | 19,353 | (76,275) | (38,154) |
| Cash flows from investing activities | |||
| Purchases of short-term investments | — | (12,782) | (65,267) |
| Proceeds from sales of short-term investments | — | — | 27,394 |
| Proceeds from maturities of short-term investments | 5,683 | 49,362 | 29,470 |
| Purchases of property and equipment | (1,838) | (1,617) | (220) |
| Purchases of intangible assets | (10) | — | — |
| Net cash provided by (used in) investing activities | 3,835 | 34,963 | (8,623) |
| Cash flows from financing activities | |||
| Proceeds from initial public offering, net of underwriting commissions and discounts | — | — | 96,517 |
| Dividends paid | — | — | (35,000) |
| Proceeds from exercise of stock options | 4 | 122 | 5,730 |
| Payment of initial public offering costs | — | — | (5,477) |
| Taxes paid related to net share settlement of equity awards | — | (37) | (567) |
| Proceeds from ESPP | 176 | 256 | 291 |
| Payments on finance lease liabilities | (58) | (303) | (1,126) |
| Net cash provided by financing activities | 122 | 38 | 60,368 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 23,310 | (41,274) | 13,591 |
| Cash, cash equivalents and restricted cash | |||
| Beginning of the period | 9,517 | 50,791 | 37,200 |
| End of the period | $32,827 | $9,517 | $50,791 |
| Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets | |||
| Cash and cash equivalents | $32,827 | $9,517 | $50,791 |
| Restricted cash, current | — | — | — |
| Restricted cash, non-current | — | — | — |
| Total cash, cash equivalents and restricted cash | $32,827 | $9,517 | $50,791 |
| Supplemental disclosures of cash flow information | |||
| Cash paid during the period for: | |||
| Interest | $1 | $8 | $1,797 |
| Income Taxes | 116 | $101 | $76 |
| Supplemental disclosures of noncash activities | |||
| Equipment acquired under capital lease obligations | $— | $— | $123 |
| Capital expenditures included in accounts payable and accrued expenses | $25 | $54 | $33 |
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