Kodiak Gas Services Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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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, 2024 · Filed May 9, 2024
KGS$42.26-5.4%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
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $30,232 | $(12,343) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 46,944 | 44,897 |
| Stock-based compensation expense | 2,848 | 879 |
| Amortization of debt issuance costs | 2,643 | 5,445 |
| Non-cash lease expense | 1,200 | 774 |
| Provision for credit losses | 85 | 2 |
| Inventory reserve | 126 | 125 |
| Loss on sale of property, plant and equipment | — | 17 |
| Change in fair value of derivatives | (14,241) | 17,934 |
| Deferred tax provision (benefit) | 6,261 | (2,521) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (30,130) | (20,935) |
| Inventories | (6,794) | (2,993) |
| Contract assets | (906) | 2,504 |
| Prepaid expenses and other current assets | 5,103 | (7,522) |
| Accounts payable | (2,324) | (839) |
| Accrued and other liabilities | 5,872 | (9,741) |
| Contract liabilities | 4,623 | 7,607 |
| Net cash provided by operating activities | 51,542 | 23,290 |
| Cash flows from investing activities: | ||
| Purchase of property, plant and equipment | (60,153) | (48,581) |
| Proceeds from sale of property, plant and equipment | — | 32 |
| Other | 3 | (25) |
| Net cash used in investing activities | (60,150) | (48,574) |
| Cash flows from financing activities: | ||
| Borrowings on debt instruments | 1,008,476 | 248,300 |
| Payments on debt instruments | (957,975) | (197,569) |
| Payment of debt issuance cost | (7,594) | (31,878) |
| Offering costs | (446) | — |
| Cash paid for shares withheld to cover taxes | (294) | — |
| Dividends paid to stockholders | (29,815) | — |
| Net cash provided by financing activities | 12,352 | 18,853 |
| Net increase (decrease) in cash and cash equivalents | 3,744 | (6,431) |
| Cash and cash equivalents - beginning of period | 5,562 | 20,431 |
| Cash and cash equivalents - end of period | $9,306 | $14,000 |
| Supplemental cash disclosures: | ||
| Cash paid for interest | $32,023 | $67,419 |
| Cash paid for taxes | $— | $— |
| Supplemental disclosure of non-cash investing activities: | ||
| (Increase) decrease in accrued capital expenditures | $(9,890) | $7,962 |
| Supplemental disclosure of non-cash financing activities: | ||
| Dividends equivalent | $(237) | $— |
| Accrued debt issuance cost | $(8,752) | $— |
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