Westrock Coffee Co

For the period ended Jun 30, 2024. Filed Aug 8, 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.

Jun 30, 2024 · Filed Aug 8, 2024

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

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

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Contents

Condensed Consolidated Statements of Cash Flows

(Unaudited)


· · Six Months Ended June 30,
(Thousands)	2024		2023
Cash flows from operating activities:
Net loss		$(41,432)		$(31,137)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		15,516		12,055
Impairment charges		831		—
Equity-based compensation		5,481		3,857
Provision for credit losses		1,026		653
Amortization of deferred financing fees included in interest expense		1,715		988
Loss on disposal of property, plant and equipment		973		896
Mark-to-market adjustments		(3,162)		(2,205)
Change in fair value of warrant liabilities		(1,653)		6,272
Foreign currency transactions		53		907
Deferred income tax expense (benefit)		1,170		1,881
Other		490		992
Change in operating assets and liabilities:
Accounts receivable		(3,954)		649
Inventories		(12,912)		(6,874)
Derivative assets and liabilities		4,709		693
Prepaid expense and other assets		733		(8,529)
Accounts payable		(20,211)		(24,080)
Accrued liabilities and other		34,936		7,314
Net cash used in operating activities		(15,691)		(35,668)
Cash flows from investing activities:
Additions to property, plant and equipment		(105,105)		(55,745)
Additions to intangible assets		(104)		(95)
Acquisition of business, net of cash acquired		—		(2,392)
Proceeds from sale of property, plant and equipment		449		57
Net cash used in investing activities		(104,760)		(58,175)
Cash flows from financing activities:
Payments on debt		(134,634)		(79,795)
Proceeds from debt		184,124		156,118
Payments on supply chain financing program		(49,612)		—
Proceeds from supply chain financing program		47,872		29,026
Proceeds from convertible notes payable		22,000		—
Proceeds from convertible notes payable - related party		50,000		—
Payment of debt issuance costs		(2,965)		(2,582)
Payment of convertible notes payable issuance costs		(511)		—
Net proceeds from (repayments of) repurchase agreements		(7,343)		(5,236)
Proceeds from exercise of stock options		12		63
Proceeds from exercise of Public Warrants		—		2,632
Proceeds from issuance of common stock		635		—
Payment of equity issuance costs		(10)		—
Payment for purchase of non-controlling interest		—		(2,000)
Payment for taxes for net share settlement of equity awards		(1,159)		(1,841)
Net cash provided by financing activities		108,409		96,385
Effect of exchange rate changes on cash		229		(165)
Net (decrease) increase in cash and cash equivalents and restricted cash		(11,813)		2,377
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		$26,027		$28,782

Supplemental non-cash investing and financing activities:
Property, plant and equipment acquired but not yet paid		$16,191		$17,958

The total cash and cash equivalents and restricted cash at June 30, 2024 and 2023 is as follows:


(Thousands) · June 30, 2024 · June 30, 2023
Cash and cash equivalents	$24,316	$25,245
Restricted cash	1,711	3,537
Total	$26,027	$28,782

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.