Elevate credit, inc. (ELVT)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income

-4,911

8,289

4,764

5,772

13,358

4,132

-4,234

3,128

9,483

-12,194

590

3,020

1,668

-4,422

-16,247

-7,496

5,792

Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization

4,797

4,440

4,350

4,324

4,266

3,821

3,490

2,962

2,715

2,615

2,656

2,393

2,608

2,623

2,777

2,873

2,633

Provision for loan losses

82,753

-

-

-

87,431

-

-

-

-

-

-

-

-

-

-

-

-

Provision for loan losses

-

-

-

-

-

-

-

88,598

92,142

106,281

96,203

72,297

82,793

100,316

91,282

67,134

59,089

Share-based compensation

2,775

2,668

2,361

2,476

2,435

2,228

2,358

2,010

1,637

1,882

1,649

2,085

702

678

616

247

166

Amortization of debt issuance costs

174

140

177

103

180

91

89

94

97

90

126

214

70

63

91

75

71

Amortization of loan premium

1,523

1,544

1,473

1,428

1,553

1,617

1,577

1,502

1,504

1,427

1,399

1,306

1,228

1,008

701

552

439

Amortization of Debt Discount (Premium)

-

-

-

-

-

0

0

0

138

396

370

2,136

735

448

0

0

0

Amortization of derivative assets

0

0

0

0

108

328

325

323

283

0

0

0

0

-

-

-

-

Amortization of operating leases

-116

-109

-32

17

128

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax expense, net

416

2,165

1,301

2,380

5,737

-128

-3,326

426

4,176

14,577

-3,994

-1,613

759

-441

-2,666

-5,891

5,612

Unrealized loss from foreign currency transactions

-812

1,301

-870

-710

613

-609

-325

-1,231

756

80

536

1,716

568

-2,535

-1,543

-3,472

-1,259

Goodwill, Impairment Loss

9,251

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Non-operating loss

-4,263

14

-695

0

0

-312

0

0

-38

-112

-106

2,646

-133

-

-

-

-

Non-operating expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Changes in operating assets and liabilities:
Prepaid expenses and other assets

-836

-412

-157

2,251

-1,657

-1,099

339

1,548

586

2,862

50

1,629

262

-3,434

-975

3,620

1,069

Income taxes payable

1,639

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Reserve deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-10,000

713

Receivables from payment processors

-1,239

-10,631

-6,014

3,226

2,285

-6,953

1,824

2,625

3,239

-1,876

2,785

1,174

-375

-539

9,069

-36

-2,363

Receivables from CSO lenders

-1,875

-998

-552

-1,455

-4,482

-1,720

-255

298

-5,219

-6,868

5,664

1,277

-3,060

6,459

4,317

6,121

-464

Interest receivable

17,230

26,021

24,479

18,968

15,801

33,301

29,721

23,271

19,826

32,662

24,675

18,470

17,725

27,495

21,902

17,538

16,924

State and other taxes payable

0

-

-

-

394

-

-

-

-

-

-

-

-

-

-

-

-

State and other taxes payable

-

-

-

-

-

2

-233

-285

356

108

-79

-160

189

97

356

-270

-107

Deferred revenue

-2,811

-764

-1,087

-4,149

-5,434

487

4,161

3,385

-2,214

-

-

-

-

-

-

-

-

Deferred tax assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-272

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-5,330

-

12,604

10,803

3,880

Accounts payable and accrued liabilities

-10,586

539

2,002

3,414

166

-2,166

7,866

3,081

-7,395

3,855

2,472

1,173

1,766

906

-287

7,093

-5,942

Net cash provided by operating activities

76,699

101,239

99,678

71,665

97,762

105,126

94,665

78,713

83,772

99,060

74,525

62,902

72,201

73,714

56,557

61,077

57,285

CASH FLOWS FROM INVESTING ACTIVITIES:
Loans receivable originated or participations purchased

250,227

318,513

343,984

341,818

272,169

357,807

374,108

342,490

283,461

359,676

328,533

275,938

232,576

236,931

285,769

227,174

164,430

Principal collections and recoveries on loans receivable

238,734

230,551

245,773

246,448

256,742

250,786

252,069

248,354

248,722

218,710

204,201

183,126

188,680

125,762

154,212

134,189

135,978

Participation premium paid

1,400

1,331

2,039

1,286

1,205

1,653

1,720

1,544

1,476

1,453

1,669

1,200

1,358

1,348

1,122

630

439

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

-200

0

Purchases of property and equipment

5,565

3,978

6,670

6,937

7,105

6,053

8,987

6,363

6,087

4,252

4,127

5,283

3,093

2,504

1,912

2,170

1,727

Net cash used in investing activities

-18,458

-93,271

-106,920

-103,593

-23,737

-114,727

-132,746

-102,043

-42,302

-146,671

-130,128

-99,295

-48,347

-115,225

-134,587

-95,585

-30,618

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable

6,500

15,000

22,000

17,000

10,000

13,892

23,797

4,135

8,000

36,060

27,000

21,000

19,500

43,000

47,500

47,000

18,000

Repayments of Long-term Debt

46,939

10,000

0

17,000

43,000

0

0

0

0

-

-

-

-

-

-

-

-

Cash paid for interest rate caps

-

-

-

-

-

0

0

0

1,367

0

0

0

0

-

-

-

-

Settlement of derivative liability

-

-

-

-

-

0

0

0

-2,010

0

0

0

0

-

-

-

-

Payment of capital lease obligation

-

-

-

-

-

-

-

-

-

0

0

0

21

62

61

60

59

Debt issuance costs paid

51

9

-1

51

2,547

175

0

25

0

-

-

-

-

-

-

-

-

Equity issuance costs paid

-

-

-

-

-

-

-

-

-

0

0

1,544

187

1,018

238

99

759

Common stock repurchased

4,203

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from stock option exercises

27

1

40

55

26

0

28

700

269

-340

168

0

765

0

24

3

13

Taxes paid related to net share settlement of equity awards

314

42

138

1,207

4

30

216

0

0

756

0

0

422

784

0

0

0

Net cash (used in) provided by financing activities

-44,980

2,691

21,469

-1,555

-35,525

14,123

23,609

5,218

4,892

35,552

27,033

20,475

19,635

41,136

47,187

46,704

17,195

Effect of exchange rates on cash

-849

921

-490

-273

242

-5

-103

-383

358

-317

300

384

69

-

-

-

-

Net increase in cash, cash equivalents and restricted cash

12,412

11,580

13,737

-33,756

38,742

4,517

-14,575

-18,495

46,720

-12,376

-28,270

-15,534

43,558

-

-

-

-

Effect of exchange rates on cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

44

-769

-41

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-30,799

11,427

43,821

Supplemental cash flow information:
Interest paid

14,336

12,625

16,528

17,862

18,988

22,241

19,122

19,173

18,523

-

-

-

-

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

-

-

16,301

18,699

-

16,054

14,033

13,087

Taxes paid

85

-30

227

338

0

17

10

294

38

-121

181

369

13

33

0

502

14

Non-cash activities:
CSO fees charged-off included in Deferred revenues and Loans receivable

423

580

742

1,106

2,326

2,889

2,385

2,315

3,016

3,036

2,514

2,234

3,279

3,204

1,242

610

118

CSO fees on loans paid-off prior to maturity included in Receivable from CSO lenders and Deferred revenue

21

-

32

37

90

-

0

50

87

-

-

-

-

-

-

-

-

Annual membership fee included in Deferred revenues and Loans receivable

1

123

-54

126

0

-

-

-

-

-

-

-

-

-

-

-

-

Reissuances of Treasury stock

830

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Derivative debt discount on convertible term notes

-

-

-

-

-

-

-

-

-

0

0

0

2,517

1,707

0

0

0

Property and equipment accrued but not yet paid

-

-

-

-

-

236

-233

18

424

1,158

0

-884

884

-

-

-

0

Prepaid expenses accrued but not yet paid

-

-

-

-

-

-582

23

-191

750

-105

937

0

0

-

-

-

-

Impact on deferred tax assets of adoption of ASU 2016-09

-

-

-

-

-

-

-

-

-

0

-17

1

3,363

0

0

0

0

Impact on OCI and retained earnings of adoption of ASU 2018-02

-

-

-

-

-

0

0

0

920

0

0

0

0

-

-

-

-

Changes in fair value of interest rate caps

0

0

0

0

304

-499

-452

-79

1,334

0

0

0

0

-

-

-

-

Tax benefit of equity issuance costs included in Additional paid-in capital

0

0

0

0

2

0

0

0

674

-

-

-

-

-

-

-

-

Leasehold improvements allowance included in Property and equipment, net

0

0

0

305

134

-

-

-

-

-

-

-

-

-

-

-

-

Leasehold improvements included in Property and equipment, net

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Operating lease right of use assets recognized

0

0

0

1,110

12,289

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities recognized

0

0

0

1,548

16,008

-

-

-

-

-

-

-

-

-

-

-

-