CompoSecure Inc
For the period ended Sep 30, 2024. Filed Nov 8, 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.
Sep 30, 2024 · Filed Nov 8, 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)
| Nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net (loss) income | $(34,804) | $81,496 |
| Adjustments to reconcile net (loss) income to net cash provided | ||
| by operating activities | ||
| Depreciation and amortization | 6,932 | 6,249 |
| Stock-based compensation expense | 15,269 | 13,052 |
| Amortization of deferred finance costs | 958 | 1,262 |
| Loss on extinguishment of debt | 148 | — |
| Change in fair value of earnout consideration liability | 34,060 | (10,540) |
| Revaluation of warrant liability | 76,211 | (1,771) |
| Change in fair value of derivative liability | (425) | 364 |
| Deferred tax (benefit) | (4,813) | (1,485) |
| Changes in assets and liabilities | ||
| Accounts receivable | (3,311) | (11,261) |
| Inventories | (2,550) | (9,614) |
| Prepaid expenses and other assets | (115) | (87) |
| Accounts payable | 4,499 | 6,938 |
| Accrued expenses | 1,487 | 4,065 |
| Other liabilities | 590 | (789) |
| Net cash provided by operating activities | 94,136 | 77,879 |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (4,782) | (6,669) |
| Capitalized software expenditures | (729) | — |
| Net cash used in investing activities | (5,511) | (6,669) |
| Cash flows from financing activities: | ||
| Proceeds from employee stock purchase plan, warrants and exercises of equity awards | 2,895 | 1,024 |
| Payments for taxes related to net share settlement of equity awards | (8,482) | (3,126) |
| Payment of tax receivable agreement liability | — | (2,193) |
| Payment of term loan | (10,333) | (18,122) |
| Deferred finance costs related to debt modification | (1,889) | (256) |
| Tax distributions to non-controlling members | (34,863) | (38,362) |
| Special distribution to non-controlling members | (15,573) | — |
| Dividend to Class A shareholders | (8,922) | — |
| Net cash used in financing activities | (77,167) | (61,035) |
| Net increase in cash and cash equivalents | 11,458 | 10,175 |
| Cash and cash equivalents, beginning of period | 41,216 | 13,642 |
| Cash and cash equivalents, end of period | $52,674 | $23,817 |
| Supplementary disclosure of cash flow information: | ||
| Cash paid for interest expense | $16,987 | $18,296 |
| Supplemental disclosure of non-cash financing activities: | ||
| Derivative asset - interest rate swap | $(2,422) | $(637) |
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