LiveWire Group Inc
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 23, 2024
LVWR$0.47-3.5%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Years Ended | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(109,550) | $(78,938) | $(68,292) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation and amortization | 5,832 | 4,401 | 4,718 |
| Change in valuation of contingent consideration liability | — | — | 49 |
| Payment of contingent consideration in excess of acquisition date fair value | — | (413) | (344) |
| Change in fair value of warrant liabilities | 4,020 | (5,033) | — |
| Stock compensation expense | 8,926 | 394 | 786 |
| Provision for doubtful accounts | 53 | 145 | 55 |
| Deferred income taxes | 74 | (125) | (22) |
| Inventory write-down | 2,719 | 1,074 | 2,456 |
| Loss on disposal of property, plant, and equipment | — | — | 850 |
| Cloud computing arrangements development costs | (1,312) | (4,894) | — |
| Other, net | (117) | (144) | 193 |
| Changes in current assets and liabilities: | |||
| Accounts receivable, net | (2,023) | 4,156 | (2,116) |
| Accounts receivable from related party | (2,877) | (593) | (89) |
| Inventories | (5,626) | (21,068) | 1,563 |
| Other current assets | 1,621 | (1,283) | (3,282) |
| Accounts payable and accrued liabilities | 160 | 6,371 | (11,064) |
| Accounts payable to related party | 14,638 | 6,269 | — |
| Net cash used by operating activities | (83,462) | (89,681) | (74,539) |
| Cash flows from investing activities: | |||
| Capital expenditures | (13,462) | (14,081) | (9,951) |
| Net cash used by investing activities | (13,462) | (14,081) | (9,951) |
| Cash flows from financing activities: | |||
| Repurchase of common stock | (1,969) | — | — |
| Proceeds received from sale of warrants | 1,557 | — | — |
| Borrowings on notes payable to related party (Note 16) | — | 15,333 | 2,100 |
| Repayment on notes payable to related party (Note 16) | — | — | (1,000) |
| Net proceeds from the Business Combination and PIPE Investments (Note 4) | — | 293,717 | — |
| Payment of contingent consideration up to acquisition date fair value (Note 11) | — | (1,767) | (1,836) |
| Transfers from Parent (Note 16) | — | 59,051 | 85,493 |
| Net cash provided (used) by financing activities | (412) | 366,334 | 84,757 |
| Net increase (decrease) in cash and cash equivalents | $(97,336) | $262,572 | $267 |
| Cash and cash equivalents: | |||
| Cash and cash equivalents—beginning of period | $265,240 | $2,668 | $2,401 |
| Net increase (decrease) in cash and cash equivalents | (97,336) | 262,572 | 267 |
| Cash and cash equivalents—end of period | $167,904 | $265,240 | $2,668 |
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