Freshpet Inc
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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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 4, 2024
FRPT$64.61-4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(Unaudited, in thousands)
| For the Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $28,803 | $(48,904) |
| Adjustments to reconcile net income (loss) to net cash flows provided by operating activities: | ||
| Provision for loss on accounts receivable | 15 | 9 |
| Loss on disposal of property, plant and equipment | 1,054 | 688 |
| Share-based compensation | 37,862 | 24,952 |
| Inventory obsolescence | 732 | — |
| Depreciation and amortization | 52,249 | 45,436 |
| Write-off and amortization of deferred financing costs and loan discount | 1,559 | 3,548 |
| Change in operating lease right of use asset | 1,045 | 1,175 |
| Loss on equity method investment | — | 1,890 |
| Gain on equity investment | (9,918) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (8,294) | 3,148 |
| Inventories | (8,852) | (773) |
| Prepaid expenses and other current assets | (803) | (696) |
| Other assets | (1,540) | (3,495) |
| Accounts payable | 8,839 | 2,300 |
| Accrued expenses | 2,355 | 11,109 |
| Operating lease liability | (1,187) | (1,419) |
| Net cash flows provided by operating activities | 103,919 | 38,968 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of short-term investments | — | (113,441) |
| Proceeds from maturities of short-term investments | — | 113,441 |
| Acquisitions of property, plant and equipment, software and deposits on equipment | (128,828) | (161,642) |
| Net cash flows used in investing activities | (128,828) | (161,642) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from exercise of options to purchase common stock | 5,516 | 4,172 |
| Tax withholdings related to net shares settlements of restricted stock units | (1,440) | (859) |
| Purchase of capped call options | — | (66,211) |
| Proceeds from issuance of convertible senior notes | — | 393,518 |
| Debt issuance costs | — | (2,026) |
| Principal payments under finance lease obligations | (1,444) | (548) |
| Net cash flows provided by financing activities | 2,632 | 328,046 |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (22,277) | 205,372 |
| CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 296,871 | 132,735 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | $274,594 | $338,107 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||
| Interest paid | $13,766 | $8,691 |
| Operating right-of-use assets obtained in exchange for lease obligations | $1,785 | $— |
| NON-CASH FINANCING AND INVESTING ACTIVITIES: | ||
| Property, plant and equipment purchases in accounts payable and accrued expenses | $7,338 | $23,030 |
| Non-cash addition of finance lease to property, plant and equipment | $— | $29,187 |
| Tax withholdings related to net shares settlements of restricted stock units in accrued expenses | $803 | $— |
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