RumbleOn Inc
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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FY2023 · Filed Mar 28, 2024
RDNW$5.57-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
($ in millions)
| 2023 | 2022 | |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(215.5) | $(261.5) |
| Income (loss) from discontinued operations | (1.1) | (28.0) |
| Loss from continuing operations | $(214.4) | $(233.5) |
| Adjustments to reconcile loss from continuing operations to net cash used in operating activities: | ||
| Depreciation and amortization | 22.0 | 23.0 |
| Amortization of debt discount and issuance costs | 10.4 | 6.4 |
| Inventory write-down to net realizable value | 12.6 | — |
| Forgiveness of PPP Loan | — | (2.5) |
| Stock based compensation expense | 12.0 | 9.4 |
| Impairment loss on goodwill and franchise rights | 60.1 | 324.3 |
| Deferred taxes | 58.5 | (76.7) |
| Originations of loan receivables, net of principal payments received | 6.3 | (27.9) |
| Valuation allowance and loss on sale of loans receivable portfolio | 7.6 | — |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Accounts receivable | (2.4) | (4.6) |
| Inventory | (31.7) | (120.4) |
| Prepaid expenses and other current assets | 1.4 | (0.4) |
| Other assets | 0.3 | 0.3 |
| Other liabilities | (3.7) | 1.6 |
| Accounts payable and accrued liabilities | (4.4) | (6.0) |
| Floor plan trade note borrowings | 26.5 | 60.3 |
| Net cash used in operating activities of continuing operations | (38.9) | (46.7) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Cash used for acquisitions, net of cash received | (3.3) | (69.6) |
| Technology development | (2.1) | (7.0) |
| Purchase of property and equipment | (13.7) | (5.6) |
| Net cash used in investing activities of continuing operations | (19.1) | (82.2) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Increase in borrowings from non-trade floor plans | 42.5 | 77.9 |
| Proceeds from sale leaseback transaction | 50.0 | — |
| Proceeds from issuance of debt | 2.2 | 84.5 |
| Proceeds from ROF credit facility for the purchase of consumer finance loans | — | 25.0 |
| Repayments of debt, including finance leases | (111.7) | (51.2) |
| Debt issuance costs | (1.8) | — |
| Shares redeemed for employee tax obligations | (1.4) | — |
| Net proceeds from sale of common stock in rights offering | 98.4 | — |
| Net cash provided by financing activities of continuing operations | 78.2 | 136.2 |
| CASH FLOWS FROM DISCONTINUED OPERATIONS | ||
| Net cash provided by operating activities | 3.4 | 27.8 |
| Net cash used in financing activities | (5.2) | (28.5) |
| Net cash used in discontinued operations | (1.8) | (0.7) |
| NET CHANGE IN CASH AND RESTRICTED CASH | 18.4 | 6.6 |
| CASH AND RESTRICTED CASH AT BEGINNING OF PERIOD | 58.6 | 52.0 |
| CASH AND RESTRICTED CASH AT END OF PERIOD | $77.0 | $58.6 |
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