V2X Inc
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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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.
FY2024 · Filed Feb 24, 2025
VVX$82.71+1.1%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
| Year Ended December 31, | |||
|---|---|---|---|
| (In thousands) | 2024 | 2023 | 2022 |
| Operating activities | |||
| Net income (loss) | $34,684 | $(22,573) | $(14,330) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation expense | 20,747 | 22,408 | 13,472 |
| Amortization of intangible assets | 90,821 | 90,423 | 48,643 |
| Amortization of cloud computing arrangements | 3,314 | 480 | 514 |
| Gain from acquisitions, net | (2,193) | — | — |
| Impairment of non-operating long-lived asset | 2,192 | — | — |
| Loss on disposal of property, plant, and equipment | 1,450 | 683 | 59 |
| Stock-based compensation | 15,969 | 32,843 | 32,736 |
| Deferred taxes | 7,730 | (7,509) | (15,554) |
| Amortization of debt issuance costs | 7,380 | 9,067 | 7,805 |
| Loss on extinguishment of debt | 1,998 | 22,298 | — |
| Gain on disposition of business | — | (450) | (2,082) |
| Changes in assets and liabilities: | |||
| Receivables | 25,181 | 19,064 | (52,311) |
| Inventory, net | (3,976) | (311) | (3,600) |
| Other assets | (38,358) | 11,596 | 14,448 |
| Accounts payable | 75,335 | 43,153 | 71,837 |
| Compensation and other employee benefits | 9,128 | (9,901) | 42,878 |
| Other liabilities | 2,835 | (23,303) | (51,020) |
| Net cash provided by operating activities | 254,237 | 187,968 | 93,495 |
| Investing activities | |||
| Purchases of capital assets and intangibles | (11,787) | (25,021) | (12,425) |
| Proceeds from the disposition of assets | 76 | 16 | 9 |
| Acquisition of businesses, net of cash acquired | (16,939) | — | 193,677 |
| Disposition of business | — | 1,349 | (5,303) |
| Distributions from (contributions to) joint venture | — | 1,007 | — |
| Net cash (used in) provided by investing activities | (28,650) | (22,649) | 175,958 |
| Financing activities | |||
| Proceeds from issuance of long-term debt | — | 250,000 | — |
| Repayments of long-term debt | (15,327) | (432,603) | (108,400) |
| Proceeds from revolver | 1,266,250 | 922,750 | 392,000 |
| Repayments of revolver | (1,266,250) | (922,750) | (472,925) |
| Proceeds from exercise of stock options | 154 | 34 | 408 |
| Payment of debt issuance costs | (1,188) | (8,818) | (2,325) |
| Prepayment premium on early redemption of debt | — | (1,600) | — |
| Payments of employee withholding taxes on share-based compensation | (8,138) | (18,036) | (1,994) |
| Net cash used in financing activities | (24,499) | (211,023) | (193,236) |
| Exchange rate effect on cash | (5,418) | 2,288 | 1,337 |
| Net change in cash, cash equivalents and restricted cash | 195,670 | (43,416) | 77,554 |
| Cash, cash equivalents and restricted cash – beginning of year | 72,651 | 116,067 | 38,513 |
| Cash, cash equivalents and restricted cash – end of year | $268,321 | $72,651 | $116,067 |
| Supplemental Disclosure of Cash Flow Information: | |||
| Interest paid | $107,607 | $117,482 | $54,267 |
| Income taxes paid | $8,819 | $8,356 | $13,416 |
| Non-cash investing activities: | |||
| Purchase of capital assets on account | $22 | $3,043 | $2,716 |
| Common stock issued for business acquisition | $— | $— | $630,636 |
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