CompoSecure Inc
For the period ended Mar 31, 2024. Filed May 6, 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 6, 2024
GPGI$14.95-2.6%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows (Unaudited)
COMPOSECURE, INC.
Consolidated Statements of Cash Flows (Unaudited)
($ in thousands)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $17,073 | $10,737 |
| Adjustments to reconcile net income to net cash provided | ||
| by operating activities | ||
| Depreciation and amortization | 2,221 | 2,040 |
| Stock-based compensation expense | 4,397 | 4,022 |
| Amortization of deferred finance costs | 345 | 559 |
| Change in fair value of earnout consideration liability | 1,459 | 1,973 |
| Revaluation of warrant liability | 7,397 | 10,759 |
| Change in fair value of derivative liability | 297 | 708 |
| Deferred tax (benefit) expense | (1,867) | (2,034) |
| Changes in assets and liabilities | ||
| Accounts receivable | 5,378 | (1,915) |
| Inventories | (2,657) | (8,901) |
| Prepaid expenses and other assets | (119) | (373) |
| Accounts payable | (446) | 8,367 |
| Accrued expenses | 1,486 | 2,069 |
| Other liabilities | (1,213) | (3,114) |
| Net cash provided by operating activities | 33,751 | 24,897 |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (1,613) | (3,666) |
| Net cash used in investing activities | (1,613) | (3,666) |
| Cash flows from financing activities: | ||
| Proceeds from employee stock purchase plan and exercises of equity awards | 107 | 146 |
| Payments for taxes related to net share settlement of equity awards | (3,476) | (2,409) |
| Payment of term loan | (4,688) | (330) |
| Distributions to non-controlling interest | (10,151) | (9,714) |
| Net cash used in financing activities | (18,208) | (12,307) |
| Net increase in cash and cash equivalents | 13,930 | 8,924 |
| Cash and cash equivalents, beginning of period | 41,216 | 13,642 |
| Cash and cash equivalents, end of period | $55,146 | $22,566 |
| Supplementary disclosure of cash flow information: | ||
| Cash paid for interest expense | $4,175 | $4,567 |
| Supplemental disclosure of non-cash financing activities: | ||
| Derivative asset - interest rate swap | $452 | $(1,649) |
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