Agrofresh solutions, inc. (AGFS)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Sep'15Dec'14Sep'14Jun'14Mar'14
Cash flows from operating activities:
Net loss

-3,814

-29,575

3,011

-22,361

-12,585

-1,916

2,954

-18,402

-12,876

23,438

9,546

2,607

-12,029

-

-

-

-

-

-

-

-

-

Net income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,312

-25,164

-25,137

-

-

-

-

-

Net loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-303

-137

-193

-38

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

11,577

46,764

12,356

12,275

12,061

12,107

12,533

11,680

11,273

11,254

11,056

11,068

10,978

11,073

10,438

10,502

10,837

-

-

-

-

-

Provision for bad debts

0

-152

-94

701

-392

609

417

130

52

48

-529

609

180

1,052

0

0

0

-

-

-

-

-

Stock-based compensation

643

678

816

852

588

839

65

1,291

609

568

512

590

216

349

1,214

616

1,071

-

-

-

-

-

Pension expense (income)

-

-

-

-

-

-54

7

-283

347

-380

74

104

49

188

0

0

0

-

-

-

-

-

Unrealized gain on derivative instrument

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

Amortization of inventory fair value adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

11,872

18,505

-

-

-

-

-

Amortization of deferred financing costs

577

568

623

779

630

634

628

613

601

604

598

587

579

579

575

564

557

-

-

-

-

-

Interest income on interest rate swap

357

-

1,783

-1,069

356

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash received on interest rate swap termination, net of non-cash interest income recognized

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of contingent consideration

0

790

897

888

884

887

851

2,043

0

1,136

1,782

1,811

3,704

7,266

7,093

8,003

7,835

-

-

-

-

-

Change in fair value of contingent consideration

0

-458

-229

167

190

-3,561

307

98

138

-24,528

-1,424

-1,211

215

-48,639

-1,569

-300

-3,100

-

-

-

-

-

Deferred income taxes

-5,231

-7,132

-6,296

-6,422

-1,781

1,251

409

-4,136

3,630

3,930

3,281

-19,958

232

38,702

8,888

-19,953

-13,845

-

-

-

-

-

Loss on sales of property

-15

-2

29

18

-49

52

0

0

0

0

-1

1

-81

-1

-20

5

-6

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-5

-50

0

-43

818

-551

682

-981

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-5,773

-1,178

22,892

-19,234

-2,159

-24,762

57,464

-21,522

-5,818

-14,680

45,931

-28,084

-9,148

-4,419

38,137

-20,913

-8,704

-

-

-

-

-

Inventories

3,503

-4,036

3,286

1,961

-823

1,841

-5,343

8,580

-3,497

1,133

-1,395

2,121

637

-1,427

-1,573

5,609

-1,845

-

-

-

-

-

Prepaid expenses and other current assets

2,414

-3,516

597

1,818

-986

-3,485

-4,015

7,722

430

4,855

519

209

-407

-11,839

11,643

5,181

2,803

-

-

-

-

-

Accounts payable

421

2,644

-936

4,137

654

-3,747

92

553

-7,853

-4,403

10,378

-14,851

-5,013

6,016

-840

-4,543

5,724

-

-

-

-

-

Accrued expenses and other liabilities

-1,995

-

781

-10,030

6,291

-

15,549

992

-9,426

-

9,678

-1,271

-716

-

1,790

5,606

-2,124

-

-

-

-

-

Income taxes payable

125

1,710

362

-1,107

650

-2,586

-251

-2,974

1,758

-206

469

2,590

-9

-1,582

198

114

894

-

-

-

-

-

Other assets and liabilities

763

-

-1,059

-1,198

1,873

-

1,853

4,181

-6,279

-

1,559

1,203

-1,408

-

533

-1,244

0

-

-

-

-

-

Net cash provided in operating activities

1,054

28,743

-14,811

-2,851

8,978

19,227

-12,390

-7,242

3,417

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-32

-15

-23

152

Due to related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-26

38

42

15

Net cash (used in) provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

7,314

8,836

-

-13,070

-2,003

9,950

-

-178

-40

-30

-175

Cash flows from investing activities:
Cash flows from investing activities:
Cash paid for property and equipment

438

905

2

683

2,586

985

852

422

1,905

2,444

2,446

1,821

1,014

555

2,255

2,344

850

-

-

-

-

-

Proceeds from sale of property

-

-

-

-

-

-

-

-

-

-

-

-

-

68

0

0

8

-

-

-

-

-

Other investments

0

0

0

0

250

1,587

0

0

0

10,082

0

700

350

600

0

0

0

-

-

-

-

-

Net cash used in investing activities

-438

-905

-2

-683

-2,836

-985

-852

-2,009

-1,905

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-2,512

-1,364

-

-2,255

-2,344

-842

-

-

-

-

-

Cash and investments held in Trust Account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

0

0

220,500

Cash flows from financing activities:
Proceeds from long-term debt

1,070

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of Dow liabilities settlement

-

-

-

-

-

0

0

0

10,000

0

0

10,000

0

-

-

-

-

-

-

-

-

-

Repayment of long-term debt

1,305

1,229

2,251

2,083

722

2,579

187

1,923

1,407

1,890

0

1,062

1,063

1,062

1,063

1,063

1,062

-

-

-

-

-

Repurchase of stock for treasury

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,488

-

-

-

-

-

Net cash used in financing activities

-235

-16,991

-2,251

-2,083

-722

-8,711

-187

-1,923

-11,407

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash and cash equivalents and restricted cash

-1,369

-303

-55

2,014

-277

-701

-2,325

-4,012

2,324

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents and restricted cash

-988

10,544

-17,119

-3,603

5,143

8,830

-15,754

-15,186

-7,571

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosures of cash flow information:
Issuance of common stock as consideration for acquisition of business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

210,000

-

-

-

-

Acquisition-related contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

181,366

-

-

-

-

Net (decrease)/increase in cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-180

-40

-34

963

Cash paid for:
Cash paid for:
Cash paid for interest

6,600

12,137

7,752

10,228

27

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

7,242

-

0

6,224

6,085

6,100

6,233

6,023

6,204

-

-

-

-

-

Cash paid for income taxes

1,441

173

239

1,631

599

1,645

1,059

4,089

156

1,446

520

612

679

608

274

522

1,691

-

-

-

-

-

Supplemental schedule of non-cash investing and financing activities:
Accrued purchases of property and equipment

32

9

10

-50

102

291

316

0

0

0

1,168

-324

578

780

-761

796

0

-

-

-

-

-

Right of use assets obtained in exchange for new lease liabilities

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Reconciliation of cash and cash equivalents and restricted cash:
Payment of offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3

5,020

Proceeds from the sale of warrants to Sponsor

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,160

Proceeds from Public Offering

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

210,000

Proceeds from the underwriter's partial exercise of their over-allotment option

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

10,500

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-11,062

-1,063

-

-1,063

-1,063

-2,550

-

0

0

-3

221,639

Effect of exchange rate changes on cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-6

1,137

-

752

768

632

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-3,174

-6,266

7,546

32,635

-15,636

-4,642

7,190

-

-

-

-

-

Deferred underwriting fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,717