Public Policy Holding Company, Inc.
For the period ended Mar 31, 2026. Filed May 14, 2026.
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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.
Mar 31, 2026 · Filed May 14, 2026
PPHC$10.96-1.0%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
(Amounts in thousands)
| Three months ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash Flows from Operating Activities: | ||
| Net loss | $(11,497) | $(10,614) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 42 | 40 |
| Amortization expense - intangibles | 1,603 | 1,292 |
| Amortization of right of use assets | 1,196 | 1,060 |
| Amortization of prepaid post-combination compensation | 1,239 | 1,641 |
| Accretion of other liability | 565 | 1,194 |
| Amortization of debt discount | 51 | 51 |
| Provision for deferred income taxes | (4,172) | (1,420) |
| Share-based accounting charge | 7,282 | 7,444 |
| Stock-based compensation | 962 | 1,123 |
| Post-combination compensation charge-shares | 1,042 | 605 |
| Change in fair value of contingent consideration | 6,303 | 983 |
| Gain on bargain purchase | (52) | — |
| Credit losses on accounts receivable | 683 | 279 |
| (Increase) decrease in: | ||
| Accounts receivable | (13,112) | (5,936) |
| Prepaid post-combination expense | (1,910) | (10,090) |
| Prepaid expenses and other assets | (484) | (1,088) |
| Increase (decrease) in: | ||
| Accounts payable and accrued expenses | (9,982) | (4,577) |
| Income taxes payable and receivable | 6,915 | 5,529 |
| Deferred revenue | 2,770 | 4,208 |
| Operating lease liability | (1,227) | (1,188) |
| Other liabilities | — | (1,720) |
| Transactions with members and related parties | 123 | 2,560 |
| Net Cash Used in Operating Activities | (11,660) | (8,624) |
| Cash Flows from Investing Activities: | ||
| Purchases of property and equipment | (521) | — |
| Prepayment on business acquisition | (1,910) | (18,522) |
| Net Cash Used in Investing Activities | (2,431) | (18,522) |
| Cash Flows from Financing Activities: | ||
| Proceeds from initial public offering, net of underwriting fees of $3.0 million | 42,866 | — |
| Proceeds from notes payable | — | 24,000 |
| Payment of debt issuance costs | — | (96) |
| Payment of deferred equity offering costs | (3,876) | — |
| Principal payment of note payable | (2,418) | (1,820) |
| Net Cash Provided by Financing Activities | 36,572 | 22,084 |
| Effect of foreign exchange rate changes on cash and cash equivalents | (65) | 65 |
| Net Change in Cash and Cash Equivalents | 22,416 | (4,997) |
| Cash and Cash Equivalents as of Beginning of Period | 20,436 | 14,536 |
| Cash and Cash Equivalents at the End of Period | $42,852 | $9,539 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
| Three months ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $750 | $584 |
| Cash paid for income taxes | 2 | — |
| Common stock received for repayment of note receivable with Alpine Group | — | 532 |
| Right of use assets obtained with lease liabilities | 8,714 | — |
| Accrued deferred equity offering costs | (2,479) | — |
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