Freshpet, inc. (FRPT)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss

-3,590

4,633

3,067

-5,661

-3,422

1,757

-97

-3,500

-3,520

1,514

-245

-2,652

-2,879

1,233

620

-3,243

-1,771

2,780

-1,675

-2,228

-2,587

-16,446

-9,483

-6,266

-5,142

Adjustments to reconcile net loss to net cash flows provided by operating activities:
Provision for loss/(gains) on accounts receivable

90

-89

107

-31

28

0

2

-22

5

-13

-16

-29

77

1

-17

2

7

14

-26

24

-0

-212

9

41

169

Loss on disposal of equipment

-1

-648

-137

7

-8

-37

-28

-48

-27

-6

-6

-84

-6

-19

-11

-15

-143

-10

-2

-71

-8

-161

-76

-35

-34

Fees on debt guarantee

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,475

6,816

1,807

1,837

Share-based compensation

2,178

2,127

3,076

1,429

1,200

2,637

1,776

1,301

1,092

1,145

1,132

1,229

930

734

787

1,665

1,006

-1,566

1,825

1,804

1,860

835

242

242

242

Fair value adjustment for outstanding warrants

-

-

-

-

-

-

-

-

-

-

-44

486

-108

68

-47

86

-58

-97

-475

-43

114

-

-

-

-

Change in reserve for inventory obsolescence

117

8

-0

94

10

29

0

16

52

-23

210

22

81

-231

-14

-5

133

-137

37

-11

6

-17

-15

-170

91

Depreciation and amortization

4,453

4,214

4,063

3,923

3,720

3,649

3,622

3,461

3,334

3,281

3,215

3,146

3,049

2,929

2,720

2,166

2,071

2,030

1,918

1,869

1,754

1,679

1,620

1,536

1,588

Amortization of deferred financing costs and loan discount

625

85

53

43

28

28

28

28

28

27

317

40

40

40

37

36

35

35

37

35

35

727

63

63

63

Changes in operating assets and liabilities:
Accounts receivable

1,805

740

251

2,016

5,010

-803

2,012

-1,001

-617

317

858

2,766

-90

219

425

1,095

110

16

705

-211

1,172

917

-1,132

344

1,741

Inventories

3,581

-756

80

2,211

1,802

637

-1,580

431

-190

1,404

1,215

101

2,286

-1,149

-1,558

-323

1,463

-86

-971

373

118

430

1,096

880

-719

Prepaid expenses and other current assets

-9

1,318

10,472

-752

929

-655

218

547

-284

449

11

612

-275

265

-12

-412

974

-65

-394

-29

-572

1,060

-1,074

1,176

-61

Operating lease right of use

-308

-306

-302

419

-241

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

-11

-725

563

8

36

142

104

296

-281

-72

15

-118

265

73

164

-24

184

34

119

-85

130

-1,610

1,588

-15

109

Accounts payable

655

-964

3,900

-2,714

2,555

-995

-474

2,494

-829

374

937

-2,431

3,801

282

-963

-239

1,774

-1,505

958

-738

1,477

-4,677

1,333

54

1,681

Accrued expenses

-1,692

2,685

10,428

801

-832

2,229

1,266

-179

-1,784

859

1,586

1,279

-736

-189

-240

1,279

1,406

102

-234

214

-711

-

-

-

-

Other lease liabilities

-283

-248

-246

446

-217

-8

-8

-7

-7

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and accrued interest on long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

777

814

286

Net cash flows used in operating activities

-2,500

12,829

13,322

-5,378

-4,457

10,043

5,391

3,365

-226

5,140

5,237

-2,184

2,077

5,480

3,875

1,429

2,015

1,769

2,910

951

1,108

-4,542

960

-4,227

-217

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of short-term investments

20,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,499

-

-

-

-

Proceeds from maturities of short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,250

-

-

-

-

-

-

-

-

Acquisitions of property, plant and equipment, software and deposits on equipment

34,237

29,894

17,849

12,434

10,453

3,592

3,748

3,960

4,972

2,168

3,666

3,898

3,270

3,868

4,835

8,203

13,045

9,449

7,530

5,070

4,964

3,715

3,054

5,604

4,756

Proceeds from sale of equipment

-

-

-

-

-

-

-

-

-

-

-

-

5

-

-

5

5

-

-

-

-

91

-72

1

232

Net cash flows used in investing activities

-54,237

-29,894

-17,849

-12,434

-10,453

-3,592

-3,748

-3,960

-4,972

-2,168

-3,666

-3,904

-3,264

-3,855

-4,845

-8,198

-9,789

-8,990

-3,755

-10,050

-12,463

-3,624

-3,126

-5,602

-4,524

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from common shares issued in primary offering, net of issuance cost

252,062

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from preferred stock - Series C issued

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-0

4,050

2,499

Borrowings on long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,000

2,000

5,500

2,000

Proceeds from exercise of options to purchase common stock

402

618

66

1,983

1,791

253

2,072

945

53

2,667

2,068

2,990

553

786

1,747

222

10

-0

49

227

14

-

-

-

-

Tax withholdings related to net shares settlements of restricted stock units

644

-5

0

600

700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings under Credit Facilities

20,933

21,670

15,313

25,307

10,000

0

0

0

6,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of borrowings under Credit Facilities

76,000

-

-

-

-

-

-

-

-

5,500

7,500

250

1,250

-

-

-

-

-

-

-

-

-

-

-

-

Net cash flows provided by financing activities

196,753

19,330

6,980

18,804

11,117

-1,746

72

-1,310

6,053

-2,857

-176

4,740

-696

-1,213

2,747

8,222

10

-0

49

227

14

42,667

1,999

9,550

4,499

NET CHANGE IN CASH AND CASH EQUIVALENTS

140,014

2,265

2,452

991

-3,793

4,704

1,715

-1,905

855

114

1,394

-1,348

-1,884

411

1,777

1,452

-7,763

-7,221

-796

-8,871

-11,340

34,501

-165

-279

-241

SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid

766

0

355

136

29

20

59

67

37

29

193

141

154

81

232

126

5

156

75

75

24

1,776

1,041

978

905

NON-CASH FINANCING AND INVESTING ACTIVITIES:
Preferred stock dividend accretion of Series C and Series B Preferred Stock and additional loss upon conversion of Series C Preferred Stock into common stock upon consummation of IPO

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

84,196

2,897

4,504

2,343

Property, plant and equipment purchases in accounts payable

8,671

1,792

-1,880

7,198

463

278

-123

-350

1,046

508

-272

-677

1,447

932

-760

393

839

1,458

-1,397

654

1,320

-567

-641

1,434

758

Non-cash acquisitions of property, plant and equipment

-

-

-

-

1,749

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-