PLAYAGS, INC. AGS Cash Flow

Playags, inc. (AGS)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14
Cash flows from operating activities
Net (loss) income
-14,419	1,423	-5,519	-7,436	11	-10,345	4,347	-5,310	-9,538	-8,520	-4,090	-20,110	-12,386	-20,234	-21,235	-18,839	-21,066	-8,880	-23,279	2,849	-9,235	-8,973	-8,670	-6,201	-4,532
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization
24,369	22,472	23,810	23,659	21,533	19,751	18,968	19,467	19,349	18,051	16,931	18,216	18,451	19,654	19,419	20,566	20,542	20,562	20,545	12,209	8,346	8,260	9,017	8,120	8,008
Accretion of contract rights under development agreements and placement fees
1,859	1,828	1,750	1,529	1,271	1,140	1,206	1,122	1,084	1,221	1,094	1,216	1,149	1,162	1,190	1,178	1,170	189	170	82	55	43	6	-11,991	12,000
Amortization of deferred loan costs and discount
492	491	485	473	468	438	474	463	451	661	606	770	939	925	906	864	847	827	806	491	322	322	320	305	295
Payment-in-kind interest capitalized
-	-	-	-	-	-	-	-	-	-23,742	0	7,695	112	-22,886	0	7,490	0	-	-	-	-	-	-	-	-
Payment-in-kind interest payments
-	-	-	-	-	0	-75,248	0	37,624	-5,396	0	2,698	0	-	-	-	-	-	-	-	-	-	-	-	-
Write-off of deferred loan cost and discount
-	-	-	-	-	466	0	0	3,410	0	0	3,294	0	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
1,551	3,692	1,959	2,154	1,196	1,766	538	476	8,153	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
(Benefit) provision for bad debts
-299	111	30	101	52	-243	-50	-6	-142	-251	506	-199	595	1,016	770	386	118	41	44	9	12	-174	-60	-217	1
Imputed interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3	7	8	10	12	14	0
Loss on disposition of assets
-49	-53	-570	-179	-266	-580	-363	-680	-340	-1,005	-386	-1,933	-577	-591	59	-509	-108	-603	-55	-468	-313	-680	-82	-1,003	-171
Impairment of assets
6	0	136	4,857	350	4,890	204	425	570	251	48	0	285	143	4,606	0	0	-	-	-	-	-	-	-	-
Fair value adjustment of contingent consideration
-	0	101	0	400	1	100	-100	700	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Benefit for deferred income tax
-101	-	1,480	-309	-298	-	-3,295	6,641	-3,551	-	126	671	1,350	-	-	-2,246	-2,074	-	-7,413	-22,799	760	-	462	731	616
Changes in assets and liabilities that relate to operations:
Accounts receivable
-20,284	2,897	8,675	-694	4,155	-789	725	6,732	4,820	-1,301	9,841	445	-637	2,635	-999	1,380	175	3,487	-3,327	718	-536	1,221	382	802	-1,432
Inventories
5,324	471	-542	103	-522	-8,080	733	-22	2,462	1,183	3,488	-720	-2,315	814	868	-1,844	-145	-258	446	-1,121	-211	-206	-373	-350	123
Prepaid expenses
2,068	-1,813	-600	144	1,554	-1,063	273	-141	1,826	-520	420	-363	1,062	-348	-819	-720	-134	289	622	88	467	397	96	257	599
Deposits and other
-408	-2,632	2,663	736	-318	122	-132	876	-118	98	-190	376	90	480	-290	-132	257	-5,909	-5,930	-288	596	1,304	490	-1,493	-60
Other assets, non-current
-3,681	2,459	-2,419	-1,337	-5,268	1,370	-2,436	480	-11,618	280	-211	1,132	1,089	206	3,625	3	-4,301	-2,019	424	350	376	606	-130	708	292
Accounts payable and accrued liabilities
-11,679	-380	7,784	-238	-13,993	6,072	-53	6,564	-18,646	6,118	6,136	761	-4,564	3,478	8,553	-1,037	1,573	-15,172	7,860	-1,833	4,375	872	1,863	646	-590
Increase in accrued interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	102
(Increase) decrease in customer deposits on gaming machine leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22
Net cash provided by operating activities
18,809	25,508	24,806	26,020	11,655	32,191	23,639	22,497	-32,816	17,715	8,395	10,679	7,219	9,232	9,711	10,184	5,366	3,078	7,308	-5,231	4,248	-721	3,914	4,706	4,583
Cash flows from investing activities
Collection of notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	88	147	88	146	30	29	0
Customer notes receivable
2,301	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business acquisitions, net of cash acquired
-	0	4,156	0	50,779	0	0	4,452	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in Canadian tax receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13	-277	219	199
Purchase of intangible assets
699	1,369	976	2,719	1,231	188	337	26	568	661	145	62	358	0	1,246	9	56	1,001	2,653	2,115	333	1,774	6,869	309	307
Software development and other expenditures
3,756	4,393	3,658	3,630	2,669	1,666	3,626	2,678	2,490	1,330	2,126	1,998	2,210	1,597	972	1,806	2,151	1,981	2,664	813	1,018	822	1,352	1,587	1,366
Proceeds from disposition of assets
27	289	52	0	109	498	0	0	21	343	78	93	0	0	0	0	87	1	17	7	4	160	44	322	43
Purchases of property and equipment
6,150	11,660	14,941	8,714	15,105	20,145	12,143	10,383	11,931	12,624	8,232	15,868	11,861	11,062	9,402	6,955	5,460	3,183	4,251	4,469	3,374	2,415	2,695	2,074	2,627
Net cash used in investing activities
-12,879	-19,515	-23,679	-15,063	-69,675	-21,501	-16,106	-17,539	-14,968	-71,122	-17,425	-17,835	-14,429	-12,659	-11,620	-8,770	-7,580	-4,964	-14,730	-377,523	-4,633	-4,063	-10,565	-14,838	-4,456
Cash flows from financing activities
Borrowings under the revolving facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	10,500	1,000	0	0	10,000	0
Repayment of first lien credit facilities
1,347	1,347	1,346	1,347	1,347	1,347	1,288	1,288	1,288	-408,242	0	408,822	1,833	-	-	-	-	-	-	-	-	-	-	-	-
Payment of deferred loan costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	73
Repayment of PIK notes
-	-	-	-	-	-	0	0	115,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Borrowing on revolver
30,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of shares issued to management
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,125	0	1,000	9,000	0	-	-	-	-
Payment of financed placement fee obligations
3,444	2,157	4,291	796	971	940	916	893	879	836	836	815	1,320	-9	1,000	1,000	1,525	0	0	0	0	-	-	-	-
Payments of previous acquisition obligation
201	521	205	865	157	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on finance leases and other obligations
333	353	348	278	417	775	703	727	678	540	537	1,295	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock
-	-	-	-	-	0	0	0	176,341	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from employees in advance of common stock issuance
-	-	-	-	-	-	-	-	-	0	0	0	25	75	0	0	0	0	75	322	182	-	-	-	-
Proceeds from employees in advance of common stock issuance
-	-	-	-	-	-	-	-	-	-	-	-	-	6,987	-1,279	-362	1,641	1,384	1,449	1,293	617	613	609	426	388
Initial public offering costs
-	-	-	-	-	0	0	0	4,160	-550	1,203	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of stock
348	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from stock option exercise
158	0	100	29	556	43	452	279	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	0
Distributions to non-controlling interest owners
-	0	145	100	57	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
24,485	-4,565	-7,368	-3,357	-2,393	26,814	-2,455	-2,629	54,336	62,618	-3,701	22,265	-3,128	-1,785	-2,772	-2,755	-4,291	-1,384	-2,374	420,740	565	-613	-209	11,143	-461
Effect of exchange rates on cash and cash equivalents
-13	1	0	5	-2	-5	-2	1	5	6	4	1	3	39	-19	-27	1	37	-65	-481	451	249	280	-236	225
Net increase (decrease) in cash and cash equivalents
30,402	1,429	-6,241	7,605	-60,415	37,499	5,076	2,330	6,557	9,217	-12,727	15,110	-10,335	-5,173	-4,700	-1,368	-6,504	-3,233	-9,861	37,505	631	-5,148	-6,580	775	-109
Supplemental cash flow information:
Cash paid during the period for interest
-	-	-	-	-	-	-	-	-	-	-	7,214	9,655	10,720	9,821	9,745	9,774	10,159	8,738	7,043	4,263	3,934	4,030	3,730	3,621
Cash paid during the period for taxes
-	-	-	-	-	-	-	-	-	-	-	301	273	325	294	318	310	400	440	-198	198	-	-	-	-
Non-cash investing and financing activities:
Intangible assets obtained under placement fee arrangements
-	1,140	4,195	1,874	33,129	1,069	931	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leased assets obtained in exchange for new finance lease liabilities
254	444	262	126	494	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leased assets obtained in exchange for new operating lease liabilities
-	0	380	2,566	10,102	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financed purchase property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	1,074	338	385	865	3,137	128	2,535	0	0	0	1,811	906