BRC Inc
For the period ended Sep 30, 2024. Filed Nov 4, 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 4, 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)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities | ||
| Net loss | $(916) | $(42,680) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 7,458 | 5,354 |
| Equity-based compensation | 7,862 | 5,645 |
| Amortization of debt issuance costs | 908 | 260 |
| Loss on disposal of assets | 1,236 | 3,622 |
| Paid-in-kind interest | 2,014 | — |
| Other | 30 | 252 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (3,960) | (2,284) |
| Inventories, net | (8,965) | (14,190) |
| Prepaid expenses and other assets | (2,289) | (7,374) |
| Accounts payable | (1,010) | 12,629 |
| Accrued liabilities | 1,081 | (3,285) |
| Deferred revenue and gift card liability | (6,161) | 655 |
| Operating lease liability | 462 | 915 |
| Other liabilities | 11,395 | 122 |
| Net cash provided by (used in) operating activities | 9,145 | (40,359) |
| Investing activities | ||
| Purchases of property, plant and equipment | (7,007) | (18,872) |
| Proceeds from sale of property and equipment | 911 | 5,576 |
| Net cash used in investing activities | (6,096) | (13,296) |
| Financing activities | ||
| Proceeds from issuance of long-term debt, net of discount | 206,182 | 294,501 |
| Debt issuance costs paid | (164) | (3,876) |
| Repayment of long-term debt | (214,751) | (267,381) |
| Financing lease obligations | (62) | (73) |
| Repayment of promissory note | (1,047) | (1,047) |
| Issuance of stock from the Employee Stock Purchase Plan | 518 | 673 |
| Proceeds from exercise of stock options | 13 | — |
| Net cash (used in) provided by financing activities | (9,311) | 22,797 |
| Net decrease in cash, cash equivalents and restricted cash | (6,262) | (30,858) |
| 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 | $7,336 | $6,667 |
| Restricted cash, end of period | $315 | $1,465 |
| BRC Inc. | ||
|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) | ||
| (in thousands) | ||
| (unaudited) | ||
| Nine Months Ended September 30, | ||
| 2024 | 2023 | |
| Non-cash operating activities | ||
| (Derecognition) Recognition of right-of-use operating lease assets | $(5,363) | $15,913 |
| Recognition of revenue for inventory exchanged for prepaid advertising | $15,220 | $7,480 |
| Non-cash investing and financing activities | ||
| Property and equipment purchased but not yet paid | $530 | $3,349 |
| Supplemental cash flow information | ||
| Cash paid for income taxes | $385 | $665 |
| Cash paid for interest | $5,372 | $2,591 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.