Westrock Coffee Co

For the period ended Sep 30, 2024. Filed Nov 7, 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.

Sep 30, 2024 · Filed Nov 7, 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)


· · Nine Months Ended September 30,
(Thousands)	2024		2023
Cash flows from operating activities:
Net loss		$(55,691)		$(14,516)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		23,196		18,419
Impairment charges		1,996		—
Equity-based compensation		8,508		6,297
Provision for credit losses		1,368		278
Amortization of deferred financing fees included in interest expense		2,432		1,560
Loss on disposal of property, plant and equipment		965		1,145
Mark-to-market adjustments		(2,692)		(1,045)
Change in fair value of warrant liabilities		(7,134)		(18,833)
Foreign currency transactions		461		1,481
Deferred income tax expense (benefit)		1,133		(3,331)
Other		1,003		1,443
Change in operating assets and liabilities:
Accounts receivable		(4,930)		1,993
Inventories		(7,191)		(14,153)
Derivative assets and liabilities		12,685		4,090
Prepaid expense and other assets		1,447		(8,469)
Accounts payable		(2,650)		(50,254)
Accrued liabilities and other		9,071		(1,236)
Net cash used in operating activities		(16,023)		(75,131)
Cash flows from investing activities:
Additions to property, plant and equipment		(141,451)		(121,545)
Additions to intangible assets		(144)		(147)
Acquisition of business, net of cash acquired		—		(2,392)
Acquisition of equity method investments and non-marketable securities		—		(1,385)
Proceeds from sale of property, plant and equipment		1,225		198
Net cash used in investing activities		(140,370)		(125,271)
Cash flows from financing activities:
Payments on debt		(151,968)		(170,522)
Proceeds from debt		250,882		221,509
Payments on supply chain financing program		(121,203)		(2,321)
Proceeds from supply chain financing program		114,008		69,787
Proceeds from convertible notes payable		22,000		—
Proceeds from convertible notes payable - related party		50,000		—
Payment of debt issuance costs		(3,329)		(3,023)
Payment of convertible notes payable issuance costs		(511)		—
Net proceeds from (repayments of) repurchase agreements		(7,111)		(8,553)
Proceeds from exercise of stock options		12		848
Proceeds from exercise of Public Warrants		—		2,632
Proceeds from issuance of common stock		635		118,767
Payment of equity issuance costs		(10)		(1,000)
Payment for purchase of non-controlling interest		—		(2,000)
Payment for taxes for net share settlement of equity awards		(2,041)		(2,977)
Net cash provided by financing activities		151,364		223,147
Effect of exchange rate changes on cash		(131)		(335)
Net (decrease) increase in cash and cash equivalents and restricted cash		(5,160)		22,410
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		$32,680		$48,815

Supplemental non-cash investing and financing activities:
Property, plant and equipment acquired but not yet paid		$8,275		$4,441

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


(Thousands) · September 30, 2024 · September 30, 2023
Cash and cash equivalents	$22,359	$44,407
Restricted cash	10,321	4,408
Total	$32,680	$48,815

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.