AKA BRANDS HOLDING CORP
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
AKA$9.01-7.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(98,886) | $(176,697) | $(6,091) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation expense | 7,605 | 6,156 | 2,694 |
| Amortization expense | 11,536 | 14,192 | 14,016 |
| Amortization of inventory fair value adjustment | — | 707 | 15,908 |
| Amortization of debt issuance costs | 624 | 647 | 607 |
| Loss on extinguishment of debt | — | — | 10,924 |
| Lease incentives | 1,596 | 1,722 | 361 |
| Loss on disposal of businesses | 1,533 | — | — |
| Non-cash operating lease expense | 7,766 | 9,779 | 6,246 |
| Equity-based compensation | 7,640 | 6,730 | 8,043 |
| Deferred income taxes, net | (745) | (4,064) | (11,951) |
| Goodwill impairment | 68,524 | 173,786 | — |
| Changes in operating assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | (1,283) | (602) | (858) |
| Inventory | 32,149 | (16,257) | (32,131) |
| Prepaid expenses and other current assets | (2,789) | 6,134 | (11,543) |
| Accounts payable | 7,512 | (1,888) | 6,038 |
| Income taxes payable | 6,214 | (2,442) | (9,329) |
| Accrued liabilities | (13,982) | (7,419) | 26,678 |
| Returns reserve | 5,566 | (2,678) | 3,091 |
| Deferred revenue | 522 | 267 | 7,197 |
| Lease liabilities | (7,676) | (8,392) | (5,932) |
| Net cash provided by (used in) operating activities | 33,426 | (319) | 23,968 |
| Cash flows from investing activities: | |||
| Acquisition of businesses, net of cash acquired | — | (5,321) | (249,302) |
| Purchase of noncontrolling interest | — | — | (20,198) |
| Purchases of intangible assets | (61) | (247) | (841) |
| Purchases of property and equipment | (5,970) | (19,746) | (7,734) |
| Net cash used in investing activities | (6,031) | (25,314) | (278,075) |
| Cash flows from financing activities: | |||
| Proceeds from initial public offering, net of issuance costs | — | — | 96,863 |
| Payments of costs related to initial public offering | — | (1,142) | — |
| Proceeds from line of credit, net of issuance costs | 11,500 | 40,000 | 34,150 |
| Repayment of line of credit | (51,500) | — | (42,204) |
| Proceeds from issuance of debt, net of issuance costs | — | (121) | 254,134 |
| Repayment of debt | (10,700) | (5,600) | (155,762) |
| Taxes paid related to net share settlement of equity awards | (191) | (104) | — |
| Proceeds from issuances under equity-based compensation plans | 162 | 227 | — |
| Proceeds from issuance of units | — | — | 82,669 |
| Repurchase of shares | (2,100) | — | — |
| Net cash (used in) provided by financing activities | (52,829) | 33,260 | 269,850 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 1,090 | (272) | (1,824) |
| Net change in cash, cash equivalents and restricted cash | (24,344) | 7,355 | 13,919 |
| Cash, cash equivalents and restricted cash at beginning of year | 48,373 | 41,018 | 27,099 |
| Cash, cash equivalents and restricted cash at end of year | $24,029 | $48,373 | $41,018 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Reconciliation of cash, cash equivalents and restricted cash: | |||
| Cash and cash equivalents | $21,859 | $46,319 | $38,832 |
| Restricted cash | 2,170 | 2,054 | 2,186 |
| Total cash, cash equivalents and restricted cash | $24,029 | $48,373 | $41,018 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid | $10,515 | $6,296 | $7,901 |
| Income tax (refund received) paid, net | (4,039) | 2,329 | 20,626 |
| Supplemental disclosure of non-cash investing activities: | |||
| Consideration payable in connection with a business acquisition | $— | $— | $4,901 |
| Fair value of common stock issued in connection with the purchase of mnml | — | — | 17,305 |
| Right-of-use asset additions under operating leases | 8,447 | 22,237 | 4,073 |
| Offering costs not yet paid | — | — | 1,142 |
| Debt issuance costs not yet paid | — | — | 121 |
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