Holley Inc.
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
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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.
FY2025 · Filed Mar 16, 2026
HLLY$2.610.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| For the years ended December 31, | |||
|---|---|---|---|
| 2025 · 2024 | |||
| OPERATING ACTIVITIES: | |||
| Net income (loss) | $19,175 | $(23,235) | |
| Adjustments to reconcile net income (loss) to net cash from operating activities: | |||
| Depreciation | 9,704 | 10,551 | |
| Amortization of intangible assets | 13,778 | 13,884 | |
| Impairment of indefinite-lived intangible assets | - | 7,695 | |
| Impairment of goodwill | - | 40,906 | |
| Amortization of deferred loan costs | 1,726 | 1,756 | |
| Amortization of right of use assets | 5,397 | 5,234 | |
| Fair value adjustments to warrant liability | 1,211 | (7,570) | |
| Fair value adjustments to earn-out liability | 897 | (2,333) | |
| Fair value adjustments to interest rate collar | 3,439 | (1,104) | |
| Equity compensation | 8,163 | 5,170 | |
| Change in deferred taxes | 9,149 | (16,151) | |
| Loss on sale assets | - | 9,234 | |
| Loss (gain) on early extinguishment of long-term debt | (93) | 141 | |
| Loss (gain) on disposal of property, plant and equipment | 722 | (568) | |
| Provision for inventory reserves | 4,175 | 11,057 | |
| Provision for credit losses | 362 | 1,343 | |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (21,409) | 10,756 | |
| Inventories | (17,076) | (16,557) | |
| Prepaids and other current assets | (6,181) | 2,979 | |
| Accounts payable | 12,861 | 1,233 | |
| Accrued interest | 115 | (455) | |
| Accrued and other liabilities | 105 | (7,067) | |
| Net cash provided by operating activities | 46,220 | 46,899 | |
| INVESTING ACTIVITIES: | |||
| Capital expenditures | (12,321) | (6,804) | |
| Acquisition of license agreement | (20,230) | - | |
| Proceeds from the disposal of fixed assets | 322 | 1,726 | |
| Proceeds from sale of business | - | 7,099 | |
| Net cash (used in) provided by investing activities | (32,229) | 2,021 | |
| FINANCING ACTIVITIES: | |||
| Principal payments on long-term debt | (32,108) | (32,444) | |
| Deferred financing fees | 343 | (679) | |
| Payments from stock-based award activities | (847) | (1,482) | |
| Borrowings under revolving credit facility | 10,000 | - | |
| Repayment of borrowings under revolving credit facility | (10,000) | - | |
| Net cash used in financing activities | (32,612) | (34,605) | |
| Effect of foreign currency rate fluctuations on cash | (235) | 691 | |
| Net change in cash and cash equivalents | (18,856) | 15,006 | |
| Cash and cash equivalents: | |||
| Beginning of period | 56,087 | 41,081 | |
| End of period | $37,231 | $56,087 | |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest | $46,597 | $52,160 | |
| Cash paid for income taxes | $10,425 | 11,142 | |
| Noncash investing and financing activities: | |||
| Property and equipment additions included in accounts payable | $2,378 | $1,134 | |
| Purchase price of license agreement included in accrued liabilities | $3,570 | $ | - |
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