BuzzFeed, Inc.
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
BZFD$0.46-15.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statement of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities: | |||
| Net loss | $(9,928) | $(89,322) | $(201,326) |
| Less: net (income) loss from discontinued operations, net of tax | (24,028) | 33,610 | 83,767 |
| Net loss from continuing operations | (33,956) | (55,712) | (117,559) |
| Adjustments to reconcile net loss from continuing operations to net cash used in operating activities: | |||
| Depreciation and amortization | 19,146 | 20,333 | 22,655 |
| Unrealized (gain) loss on foreign currency | (872) | (1,088) | 5,389 |
| Stock-based compensation | 5,531 | 5,282 | 18,580 |
| Change in fair value of warrants | 1,372 | 11 | (4,543) |
| Change in fair value of derivative liability | — | (180) | (4,695) |
| Amortization of debt discount and deferred issuance costs | 6,086 | 1,766 | 1,535 |
| Deferred income tax | (304) | 3,236 | (1,594) |
| Gain on disposition of assets | (1,250) | (175) | (500) |
| Loss (gain) on investment | — | 3,500 | (1,260) |
| Provision for doubtful accounts | (385) | (581) | 785 |
| Impairment expense | — | — | 50,546 |
| Noncash lease expense | 18,123 | 20,017 | 19,870 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 25,816 | 40,568 | 27,462 |
| Prepaid expenses and other current assets and prepaid expenses and other assets | 6,124 | 4,577 | 3,508 |
| Accounts payable | (30,464) | 19,149 | 11,179 |
| Accrued compensation | (474) | (18,257) | (5,440) |
| Accrued expenses, other current liabilities and other liabilities | 3,288 | (12,619) | (2,841) |
| Lease liabilities | (22,222) | (23,421) | (23,249) |
| Deferred revenue | (1,245) | (7,098) | 7,154 |
| Cash (used in) provided by operating activities from continuing operations | (5,686) | (692) | 6,982 |
| Net cash used in operating activities from discontinued operations | (14,993) | (5,411) | (14,839) |
| Net cash flow used in operating activities | (20,679) | (6,103) | (7,857) |
| Investing activities: | |||
| Capital expenditures | (691) | (964) | (5,424) |
| Capitalization of internal-use software | (12,078) | (13,934) | (12,361) |
| Proceeds from sale of asset | 350 | 175 | 500 |
| Cash used in investing activities from continuing operations | (12,419) | (14,723) | (17,285) |
| Cash provided by investing activities from discontinued operations | 191,075 | — | — |
| Cash provided by (used in) investing activities | 178,656 | (14,723) | (17,285) |
| Financing activities: | |||
| Payment for shares withheld for employee taxes | (394) | (451) | (1,698) |
| Deferred reverse recapitalization costs | — | — | (585) |
| Proceeds from exercise of stock options | 1 | 29 | 459 |
| Proceeds from the issuance of common stock in connection with the at-the-market offering, net of issuance costs | 1,030 | 902 | — |
| Borrowings on Revolving Credit Facility | — | 2,128 | 5,000 |
| Payments on Revolving Credit Facility | (33,837) | (1,796) | — |
| Payment on Convertible Notes | (120,000) | — | — |
| Payment of early termination fee for Revolving Credit Facility | (500) | — | — |
| Payment of consent solicitation fee for Convertible Notes | (900) | — | — |
| Cash (used in) provided by financing activities | (154,600) | 812 | 3,176 |
| Effect of currency translation on cash and cash equivalents | (366) | (123) | (1,993) |
| Net increase (decrease) in cash and cash equivalents | 3,011 | (20,137) | (23,959) |
| Cash and cash equivalents at beginning of year | 35,637 | 55,774 | 79,733 |
| Cash and cash equivalents at end of year | $38,648 | $35,637 | $55,774 |
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