McGraw Hill, Inc.
For the period ended Jun 30, 2025. Filed Aug 14, 2025.
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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.
Jun 30, 2025 · Filed Aug 14, 2025
MH$10.76+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited; dollars in thousands)
| Three Months Ended June 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net income (loss) | $502 | $(9,447) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities | ||
| Depreciation (including amortization of technology costs) | 17,187 | 14,434 |
| Amortization of intangibles | 57,365 | 61,179 |
| Amortization of product development costs | 13,302 | 13,267 |
| Amortization of deferred royalties | 34,669 | 33,311 |
| Amortization of deferred commission costs | 7,435 | 11,971 |
| Credit losses on accounts receivable | (2,286) | (1,586) |
| Unrealized (gain) loss on interest rate cap | — | 117 |
| Inventory obsolescence | 3,486 | 3,903 |
| Deferred income taxes | 864 | (403) |
| Amortization of debt discount | 3,352 | 3,989 |
| Amortization of deferred financing costs | 1,253 | 1,405 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (105,289) | (193,170) |
| Inventories | 10,544 | 25,825 |
| Prepaid and other current assets | (28,185) | (38,795) |
| Accounts payable and accrued expenses | (91,569) | (12,600) |
| Deferred revenue | (27,553) | 55,224 |
| Other current liabilities | 12,233 | 28,119 |
| Other changes in operating assets and liabilities, net | (3,962) | 362 |
| Cash provided by (used for) operating activities | (96,652) | (2,895) |
| Investing activities | ||
| Product development expenditures | (22,788) | (18,972) |
| Capital expenditures | (16,283) | (15,919) |
| Cash provided by (used for) investing activities | (39,071) | (34,891) |
| Financing activities | ||
| Payment of A&E Term Loan Facility | (3,292) | — |
| Payment of Term Loan Facility | — | (5,312) |
| Payment of finance lease obligations | (1,718) | (2,929) |
| Deferred Initial Public Offering costs | (2,374) | — |
| Cash provided by (used for) financing activities | (7,384) | (8,241) |
| Effect of exchange rate changes on cash | 608 | 428 |
| Net change in cash and cash equivalents | (142,499) | (45,599) |
| Cash and cash equivalents, at the beginning of the period | 389,830 | 203,618 |
| Cash and cash equivalents, at the end of the period | $247,331 | $158,019 |
| Supplemental disclosures | ||
| Cash paid for interest expense | $22,408 | $53,749 |
| Cash paid for income taxes | 56,813 | 8,048 |
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