Grocery Outlet Holding Corp.

For the period ended Jan 3, 2026. Filed Mar 4, 2026.

About this filing

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.

FY2026 · Filed Mar 4, 2026

GO$14.02+1.1%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

	Fiscal Year Ended
	January 3,2026	December 28,2024	December 30,2023
Cash flows from operating activities:
Net income (loss)	$(224,912)	$39,465	$79,437
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation of property and equipment	107,610	90,747	76,600
Amortization of intangible and other assets	22,778	17,459	11,382
Amortization of debt issuance costs and debt discounts	928	910	1,084
Non-cash rent	7,230	4,780	5,226
Loss on debt extinguishment and modification	—	—	5,340
Impairment of long-lived assets	121,492	15,888	—
Goodwill impairment	149,000	—	—
Share-based compensation	10,491	10,516	31,091
Provision for independent operator and other accounts receivable reserves	12,791	4,853	3,674
Deferred income taxes	(22,995)	12,123	18,819
Other	2,739	1,015	487
Changes in operating assets and liabilities:
Independent operator and other accounts receivable	(11,157)	(7,515)	(11,031)
Merchandise inventories	12,191	(29,951)	(15,674)
Prepaid expenses and other assets	1,863	7,645	(10,716)
Income and other taxes payable	1,176	(3,766)	5,918
Trade accounts payable	2,096	(36,936)	73,771
Accrued and other liabilities	5,478	(25,240)	19,723
Accrued compensation	(1,947)	(7,755)	(2,445)
Operating lease liabilities	25,281	17,725	10,761
Net cash provided by operating activities	222,133	111,963	303,447
Cash flows from investing activities:
Advances to independent operators	(13,622)	(11,364)	(8,565)
Repayments of advances from independent operators	4,230	4,778	5,734
Business acquisition, net of cash and cash equivalents acquired	—	(60,526)	—
Purchases of property and equipment	(198,333)	(186,611)	(168,990)
Proceeds from sales of assets	39	—	24
Investments in intangible assets and licenses	(21,989)	(20,305)	(23,000)
Proceeds from insurance recoveries - property and equipment	—	—	632
Net cash used in investing activities	(229,675)	(274,028)	(194,165)
Cash flows from financing activities:
Proceeds from exercise of stock options	700	8,845	5,958
Tax withholding related to net settlement of employee share-based awards	—	—	(537)
Proceeds from senior term loan due 2028	—	—	300,000
Proceeds from revolving credit facility	70,000	190,000	25,000
Principal payments on revolving credit facility	(40,000)	—	(25,000)
Principal payments on senior term loan due 2025	—	—	(385,000)
Principal payments on senior term loan due 2028	(15,000)	(5,625)	(5,625)
Principal payments on finance leases	(1,384)	(1,959)	(1,398)
Repurchase of common stock	—	(81,355)	(5,893)
Dividends paid	—	—	(15)
Debt issuance costs paid	—	—	(4,513)
Net cash provided by (used in) financing activities	14,316	109,906	(97,023)
Net increase (decrease) in cash and cash equivalents	6,774	(52,159)	12,259
Cash and cash equivalents at beginning of period	62,828	114,987	102,728
Cash and cash equivalents at end of period	$69,602	$62,828	$114,987
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized	$32,771	$26,196	$22,722
Income taxes paid in cash	$2,283	$3,376	$7,557
Purchases of property and equipment accrued at end of period	$16,288	$12,791	$7,310
Investments in intangible assets accrued at end of period	$1,306	$1,286	$5,507

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