Charlotte's Web Holdings, Inc.
For the period ended Dec 31, 2024. Filed Mar 19, 2025.
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FY2024 · Filed Mar 19, 2025
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(29,846) | $(23,796) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 9,979 | 15,160 |
| Change in fair value of financial instruments | (615) | (9,339) |
| Gain on initial investment in unconsolidated entity | — | (10,700) |
| Convertible debenture and other accrued interest | 3,724 | 3,857 |
| Gain on foreign currency transaction | (3,631) | 1,142 |
| Share-based compensation | 1,520 | 2,100 |
| Changes in right-of-use assets | 1,771 | 1,918 |
| Allowance for credit losses | 140 | 1,240 |
| Inventory provision | 4,154 | 1,039 |
| Asset impairment | — | 548 |
| Other | 611 | 3,313 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 361 | (809) |
| Inventories, net | (1,520) | 4,376 |
| Prepaid expenses and other current assets | 1,332 | 85 |
| Operating lease obligations | (2,247) | (2,304) |
| Accounts payable, accrued and other liabilities | (1,664) | 151 |
| License and media rights payable | (5,000) | (8,000) |
| Income tax and other receivable | — | 4,261 |
| Other operating assets and liabilities, net | (330) | 372 |
| Net cash used in operating activities | (21,261) | (15,386) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment and intangible assets | (3,851) | (3,691) |
| Proceeds from sale of assets | 55 | 185 |
| Net cash provided by/(used in) investing activities | (3,796) | (3,506) |
| Cash flows from financing activities: | ||
| Other financing activities | (145) | (251) |
| Net cash used in financing activities | (145) | (251) |
| Net decrease in cash and cash equivalents | (25,202) | (19,143) |
| Cash and cash equivalents —beginning of year | 47,820 | 66,963 |
| Cash and cash equivalents —end of year | $22,618 | $47,820 |
| Non-cash activities: | ||
| Non-cash issuance of note receivable | — | (170) |
| Non-cash purchases of property and equipment and intangibles | (3) | (233) |
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