| Dec'19 | Dec'18 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net (loss) income (including amounts attributable to non-controlling interests) | ||||||
-39,824 | -5,888 | |||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
2,705 | 1,489 | |||||
Debt issuance costs on convertible notes | ||||||
0 | 2,637 | |||||
TRA liability adjustment | ||||||
-5,721 | 0 | |||||
Change in deferred tax asset, net | ||||||
10,894 | 0 | |||||
Unrealized gain on equity investment | ||||||
1,537 | 0 | |||||
Equity-based compensation expense | ||||||
8,020 | 4,060 | |||||
Change in fair value of convertible notes | ||||||
-12,063 | 0 | |||||
Provision for doubtful accounts | ||||||
352 | 658 | |||||
Provision for slow moving or obsolete inventory | ||||||
1,215 | -36 | |||||
Loss from equity method investments in associated entities | ||||||
0 | -234 | |||||
Other | ||||||
-32 | 87 | |||||
Changes in operating assets and liabilities, net of the effects of acquisitions: | ||||||
Accounts receivable, net | ||||||
-635 | 4,993 | |||||
Vendor deposits | ||||||
1,503 | 5,579 | |||||
Inventories | ||||||
12,954 | 11,941 | |||||
Deferred offering costs | ||||||
1,238 | 2,284 | |||||
Other current assets | ||||||
1,993 | 709 | |||||
Accounts payable | ||||||
-11,261 | 2,664 | |||||
Accrued expenses | ||||||
3,132 | 3,692 | |||||
Customer deposits | ||||||
80 | 2,505 | |||||
Net cash used in operating activities | ||||||
-36,903 | -13,578 | |||||
Cash flows from investing activities: | ||||||
Acquisitions, net of cash acquired | ||||||
1,159 | -785 | |||||
Purchases of property and equipment, net | ||||||
2,020 | 10,897 | |||||
Purchase of intangible assets, net | ||||||
53 | 29 | |||||
Investment in equity securities | ||||||
500 | 75 | |||||
Net cash used in investing activities | ||||||
-3,732 | -10,216 | |||||
Cash flows from financing activities: | ||||||
Proceeds from issuance of Class A common stock sold in initial public offering, net of underwriting costs | ||||||
83,003 | 0 | |||||
Deferred offering costs paid | ||||||
3,523 | 0 | |||||
Proceeds from issuance of convertible notes | ||||||
8,050 | 38,875 | |||||
Payment of debt issuance costs | ||||||
1,734 | 187 | |||||
Payments on long-term debt | ||||||
0 | 565 | |||||
Proceeds from notes payable | ||||||
0 | 8,500 | |||||
Payments on notes payable | ||||||
169 | 53 | |||||
Proceeds from line of credit, net | ||||||
0 | -611 | |||||
Payments of finance lease obligations | ||||||
107 | 122 | |||||
Deferred acquisition costs paid | ||||||
110 | 0 | |||||
Acquisition of treasury stock | ||||||
515 | - | |||||
Redemption of Class A and Class B units of Greenlane Holdings, LLC | ||||||
3,018 | 15,075 | |||||
Member distributions | ||||||
898 | 1,630 | |||||
Net cash provided by financing activities | ||||||
80,979 | 29,132 | |||||
Effects of exchange rate changes on cash | ||||||
88 | -77 | |||||
Net increase in cash | ||||||
40,432 | 5,261 | |||||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||||||
Cash paid during the period for interest | ||||||
975 | 3,182 | |||||
Cash paid during the period for income taxes | ||||||
498 | 125 | |||||
Cash paid for amounts included in the measurement of operating lease liabilities | ||||||
1,119 | 0 | |||||
Non-cash investing activities and financing activities: | ||||||
Conversion of convertible notes to Class A common stock | ||||||
60,313 | 0 | |||||
Redeemable Class B Units issued for acquisition of a subsidiary, net of issuance costs | ||||||
6,514 | 8,890 | |||||
Deferred offering costs included in "Accounts payable" and "Accrued expenses and other current liabilities" | ||||||
0 | 1,500 | |||||
Contingent consideration for the acquisition of Conscious Wholesale included in "Accrued expenses and other current liabilities" | ||||||
1,609 | 0 | |||||
Purchase consideration for the acquisition of Conscious Wholesale included in "Accrued expenses and other current liabilities" | ||||||
3,029 | 0 | |||||
Purchases of property, plant, and equipment with unpaid costs accrued in "Other liabilities" | ||||||
414 | 53 | |||||
Leased assets obtained in exchange for new finance lease liabilities | ||||||
86 | 0 | |||||
Leased assets obtained in exchange for new operating lease liabilities | ||||||
5,573 | 0 | |||||
Spinoff of equity investment in a subsidiary | ||||||
0 | 682 | |||||