Westrock Coffee Co

For the period ended Mar 31, 2024. Filed May 9, 2024.

About this filing

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.

Mar 31, 2024 · Filed May 9, 2024

WEST$8.88+1.0%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Condensed Consolidated Statements of Cash Flows

(Unaudited)


· · Three Months Ended March 31,
(Thousands)	2024		2023
Cash flows from operating activities:
Net loss		$(23,673)		$(4,326)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		7,548		5,874
Equity-based compensation		2,455		1,548
Provision for credit losses		441		497
Amortization of deferred financing fees included in interest expense		1,050		453
Loss on disposal of property, plant and equipment		2		896
Mark-to-market adjustments		(1,640)		(1,236)
Change in fair value of warrant liabilities		(41)		(5,529)
Foreign currency transactions		245		307
Deferred income tax expense (benefit)		5,815		(4,359)
Other		343		259
Change in operating assets and liabilities:
Accounts receivable		8,397		(14,048)
Inventories		8,907		6,626
Derivative assets and liabilities		1,302		(76)
Prepaid expense and other assets		494		(9,510)
Accounts payable		(18,038)		(10,756)
Accrued liabilities and other		14,372		8,249
Net cash provided by (used in) operating activities		7,979		(25,131)
Cash flows from investing activities:
Additions to property, plant and equipment		(68,914)		(19,625)
Additions to intangible assets		(43)		(41)
Acquisition of business, net of cash acquired		—		(2,392)
Proceeds from sale of property, plant and equipment		21		30
Net cash used in investing activities		(68,936)		(22,028)
Cash flows from financing activities:
Payments on debt		(100,462)		(56,358)
Proceeds from debt		73,813		106,706
Payments on supply chain financing program		(38,980)		—
Proceeds from supply chain financing program		39,610		—
Proceeds from convertible notes payable		72,000		—
Payment of debt issuance costs		(2,934)		(405)
Net proceeds from (repayments of) repurchase agreements		(4,933)		(4,418)
Proceeds from exercise of stock options		—		63
Proceeds from exercise of Public Warrants		—		2,632
Payment for taxes for net share settlement of equity awards		(1,141)		(1,841)
Net cash provided by financing activities		36,973		46,379
Effect of exchange rate changes on cash		(80)		(55)
Net decrease in cash and cash equivalents and restricted cash		(24,064)		(835)
Cash and cash equivalents and restricted cash at beginning of period		37,840		26,405
Cash and cash equivalents and restricted cash at end of period		$13,776		$25,570

Supplemental non-cash investing and financing activities:
Property, plant and equipment acquired but not yet paid		$17,508		$4,168

The total cash and cash equivalents and restricted cash is as follows:


(Thousands) · March 31, 2024 · March 31, 2023
Cash and cash equivalents	$12,571	$23,688
Restricted cash	1,205	1,882
Total	$13,776	$25,570

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.