CUMBERLAND PHARMACEUTICALS INC
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
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FY2024 · Filed Mar 7, 2025
CPIX$5.30-1.3%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
| 2024 | 2023 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | $(6,443,715) | $(6,330,766) |
| Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities: | ||
| Depreciation and amortization expense | 4,902,560 | 4,935,954 |
| Impairment loss on intangible assets | — | 3,343,842 |
| Amortization of operating lease right-of-use asset | 1,140,738 | 834,500 |
| Disposal of assets | 2,691 | 20,256 |
| Stock-based compensation | 301,895 | 365,040 |
| Decrease in non-cash contingent consideration | (1,460,804) | (1,253,840) |
| Increase in cash surrender value of life insurance policies over premiums paid | (139,953) | (124,736) |
| Noncash interest expense | 28,313 | 15,523 |
| Life insurance proceeds | (237,089) | (346,800) |
| Net changes in assets and liabilities affecting operating activities: | ||
| Accounts receivable | (1,943,290) | 3,404,949 |
| Inventories, net | 2,408,397 | (23,143) |
| Other current assets and other assets | 189,112 | 65,684 |
| Operating lease liabilities | (991,359) | (1,405,363) |
| Accounts payable and other current liabilities | 1,784,089 | 3,724,174 |
| Other long-term liabilities | (153,771) | (1,131,453) |
| Net cash provided by (used in) operating activities | (612,186) | 6,093,821 |
| Cash flows from investing activities: | ||
| Additions to property and equipment | (66,461) | (281,268) |
| Additions to intangible assets | (113,253) | (171,783) |
| Life insurance policy proceeds received | 237,556 | 347,356 |
| Net cash provided by (used in) investing activities | 57,842 | (105,695) |
| Cash flows from financing activities: | ||
| Borrowings on line of credit | 38,488,920 | 31,475,000 |
| Payments on line of credit | (35,996,894) | (34,890,856) |
| Payments made in connection with repurchase of common shares | (579,049) | (740,533) |
| Cash settlement of contingent consideration | (1,716,073) | (3,268,083) |
| Net cash provided by (used in) financing activities | 196,904 | (7,424,472) |
| Net decrease in cash and cash equivalents | (357,440) | (1,436,346) |
| Cash and cash equivalents, beginning of year | 18,321,624 | 19,757,970 |
| Cash and cash equivalents, end of year | $17,964,184 | $18,321,624 |
| 2024 | 2023 | |
|---|---|---|
| Supplemental disclosure of cash flow information: | ||
| Net cash paid during the year for: | ||
| Interest | $569,230 | $647,137 |
| Income taxes | 15,000 | 108,823 |
| Total cash paid included in measurement of lease liability | 863,320 | 804,818 |
| Noncash investing and financing activities: | ||
| Change in unpaid invoices for intangible asset additions | 530 | (51,895) |
| Change in unpaid invoices for offering costs | (69,701) | 69,001 |
| Lease liability obtained from right-of-use assets | 128,039 | 1,158,367 |
See accompanying notes to consolidated financial statements
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