BRC Inc
For the period ended Mar 31, 2024. Filed May 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.
Mar 31, 2024 · Filed May 8, 2024
BRCC$9.80-2.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities | ||
| Net income (loss) | $1,855 | $(17,321) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 2,413 | 1,719 |
| Equity-based compensation | 1,952 | 2,506 |
| Amortization of debt issuance costs | 301 | 33 |
| Loss on disposal of assets | 511 | — |
| Other | 315 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 58 | 3,055 |
| Inventories, net | (2,405) | (25,724) |
| Prepaid expenses and other assets | (1,892) | (1,118) |
| Accounts payable | 7,264 | 27,830 |
| Accrued liabilities | (2,331) | (6,463) |
| Deferred revenue and gift card liability | (3,468) | (160) |
| Operating lease liability | 371 | 219 |
| Other liabilities | (30) | 30 |
| Net cash provided by (used in) operating activities | 4,914 | (15,394) |
| Investing activities | ||
| Purchases of property, plant and equipment | (2,718) | (4,902) |
| Proceeds from sale of property and equipment | 41 | — |
| Net cash used in investing activities | (2,677) | (4,902) |
| Financing activities | ||
| Proceeds from issuance of long-term debt, net of discount | 21,829 | 87,000 |
| Debt issuance costs paid | (164) | — |
| Repayment of long-term debt | (32,224) | (79,609) |
| Financing lease obligations | 20 | (25) |
| Repayment of promissory note | (400) | (399) |
| Issuance of stock from the Employee Stock Purchase Plan | 251 | 305 |
| Net cash (used in) provided by financing activities | (10,688) | 7,272 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (8,451) | (13,024) |
| Cash and cash equivalents, beginning of period | 12,448 | 38,990 |
| Restricted cash, beginning of period | 1,465 | — |
| Cash and cash equivalents, end of period | $3,997 | $25,966 |
| Restricted cash, end of period | $1,465 | $— |
| BRC Inc. | ||
|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) | ||
| (in thousands) | ||
| (unaudited) | ||
| Three Months Ended March 31, | ||
| 2024 | 2023 | |
| Non-cash operating activities | ||
| (Derecognition) Recognition of right-of-use operating lease assets | $(1,955) | $5,786 |
| Recognition of revenue for inventory exchanged for prepaid advertising | 8,487 | — |
| Non-cash investing and financing activities | ||
| Property and equipment purchased but not yet paid | 622 | 967 |
| Supplemental cash flow information | ||
| Cash paid for income taxes | $58 | $179 |
| Cash paid for interest | $1,816 | $492 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.