Thryv Holdings Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 22, 2024
THRY$1.07-16.8%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 |
| Cash Flows from Operating Activities | |||
| Net (loss) income | $(259,295) | $54,348 | $101,577 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Depreciation and amortization | 63,251 | 88,392 | 105,473 |
| Amortization of deferred commissions | 14,954 | 12,110 | 11,847 |
| Amortization of debt issuance costs | 5,422 | 5,749 | 4,919 |
| Deferred income taxes | (12,904) | (15,119) | (20,438) |
| Provision for credit losses and service credits | 24,516 | 25,971 | 19,394 |
| Stock-based compensation expense | 22,201 | 14,628 | 8,094 |
| Other components of net periodic pension benefit | (2,719) | (44,612) | (14,829) |
| Impairment charges | 268,846 | 102,222 | 3,611 |
| Non-cash loss (gain) from the remeasurement of the indemnification asset | 10,734 | (2,148) | (1) |
| Bargain purchase gain | — | (10,883) | — |
| Other, net | 603 | (2,309) | (1,823) |
| Changes in working capital items, excluding acquisitions: | |||
| Accounts receivable | 54,325 | (5,242) | 74,368 |
| Contract assets | (326) | 2,764 | 5,628 |
| Prepaid expenses and other assets | 7,117 | (9,592) | (5,763) |
| Accounts payable and accrued liabilities | (37,749) | (41,105) | (125,883) |
| Other liabilities | (10,750) | (26,601) | 4,397 |
| Net cash provided by operating activities | 148,226 | 148,573 | 170,571 |
| Cash Flows from Investing Activities | |||
| Additions to fixed assets and capitalized software | (33,394) | (29,233) | (26,849) |
| Proceeds from the sale of assets | — | — | 6,836 |
| Acquisition of a business, net of cash acquired | (8,897) | (22,793) | (175,370) |
| Other | (225) | — | (1,192) |
| Net cash used in investing activities | (42,516) | (52,026) | (196,575) |
| Cash Flows from Financing Activities | |||
| Proceeds from Term Loan | — | — | 418,070 |
| Proceeds from Term Loan, related party | — | — | 260,930 |
| Payments of Term Loan | (120,000) | (104,165) | (110,215) |
| Payments of Term Loan, related party | — | (8,347) | (47,785) |
| Payments of Senior Term Loan | — | — | (335,821) |
| Payments of Senior Term Loan, related party | — | — | (113,789) |
| Proceeds from ABL Facility | 919,975 | 976,296 | 1,046,249 |
| Payments of ABL Facility | (925,684) | (961,670) | (1,085,558) |
| Proceeds from exercises of stock warrants | 15,898 | 64 | 13,920 |
| Other | 6,318 | 6,725 | (6,913) |
| Net cash (used in) provided by financing activities | (103,493) | (91,097) | 39,088 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 133 | (827) | (1,933) |
| Increase in cash, cash equivalents and restricted cash | 2,350 | 4,623 | 11,151 |
| Cash, cash equivalents and restricted cash, beginning of period | 18,180 | 13,557 | 2,406 |
| Cash, cash equivalents and restricted cash, end of period | $20,530 | $18,180 | $13,557 |
| Supplemental Information | |||
| Cash paid for interest | $57,027 | $57,084 | $66,737 |
| Cash paid for income taxes, net | $9,313 | $58,259 | $63,893 |
| Non-cash investing and financing activities | |||
| Repurchase of Treasury stock as a result of the settlement of the indemnification asset | $15,760 | $— | $— |
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