| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income (loss) | ||||||
95,973 | 127,980 | 138,668 | 124,464 | |||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
7,304 | 4,478 | 3,983 | 3,708 | |||
Share-based compensation expense | ||||||
13,754 | 6,038 | 3,951 | 1,897 | |||
Equity-based payments to non-employees | ||||||
15 | 16 | 301 | 391 | |||
Fair value change in servicing assets and liabilities | ||||||
-29,679 | 945 | 2,071 | 0 | |||
Operating lease liability payments | ||||||
394 | 392 | 308 | 278 | |||
Losses on abandonment | ||||||
- | - | - | 44 | |||
Financial guarantee losses | ||||||
-16,072 | 94 | -47 | - | |||
Amortization of debt related costs | ||||||
1,675 | 1,684 | 687 | 0 | |||
Original issuance discount on term loan payment | ||||||
42 | 31 | 9 | 0 | |||
Loss on extinguishment of debt | ||||||
0 | 0 | -254 | 0 | |||
Impairment losses | ||||||
0 | 19 | 78 | 107 | |||
Deferred tax expense (benefit) | ||||||
-7,125 | 5,525 | 0 | 0 | |||
Loss on remeasurement of tax receivable agreement liability | ||||||
9,790 | 0 | 0 | - | |||
Other losses | ||||||
- | - | - | 36 | |||
Changes in assets and liabilities: | ||||||
(Increase) decrease in loan receivables held for sale | ||||||
49,050 | -70,730 | 32,338 | 39,425 | |||
(Increase) decrease in accounts receivable | ||||||
4,049 | -2,958 | 1,595 | 3,778 | |||
(Increase) decrease in related party receivables | ||||||
14 | -76 | -1,217 | 1,360 | |||
(Increase)/decrease in deposits | ||||||
- | - | - | 5,837 | |||
(Increase) decrease in other assets | ||||||
434 | -1,574 | 823 | -1,266 | |||
Increase (decrease) in accounts payable | ||||||
6,860 | -1,488 | 3,222 | 440 | |||
Increase (decrease) in finance charge reversal liability | ||||||
67,446 | 44,441 | 26,084 | 18,605 | |||
Increase (decrease) in related party liabilities | ||||||
0 | -722 | 494 | 1,035 | |||
Increase (decrease) in other liabilities | ||||||
25,225 | -7,311 | 14,410 | 8,954 | |||
Net cash provided by operating activities | ||||||
153,327 | 256,426 | 160,394 | 121,943 | |||
Cash flows from investing activities | ||||||
Purchases of property, equipment and software | ||||||
15,381 | 6,581 | 4,135 | 4,666 | |||
Net cash used in investing activities | ||||||
-15,381 | -6,581 | -4,135 | -4,666 | |||
Cash flows from financing activities | ||||||
Proceeds from term loan | ||||||
0 | 399,000 | 346,500 | 0 | |||
Repayments of term loan | ||||||
3,958 | 352,094 | 866 | 0 | |||
Payment of debt issuance costs | ||||||
0 | 0 | 8,302 | 0 | |||
Class A common stock repurchases | ||||||
104,272 | 41,847 | 0 | 0 | |||
Member distributions | ||||||
23,468 | 141,518 | 561,935 | 46,905 | |||
Proceeds from option exercises | ||||||
307 | 59 | 0 | 0 | |||
Payment of option exercise taxes | ||||||
12,400 | 4,869 | 0 | 0 | |||
Payment of taxes on Class B common stock exchanges | ||||||
2,198 | 0 | 0 | - | |||
Payments under tax receivable agreement | ||||||
4,700 | 0 | 0 | - | |||
Proceeds from IPO, net of underwriters discount and commissions | ||||||
0 | 954,845 | 0 | 0 | |||
Purchases of GreenSky Holdings, LLC units | ||||||
0 | 901,833 | 0 | 0 | |||
Issuances of Class B common stock | ||||||
0 | 129 | 0 | 0 | |||
Redemptions of GreenSky Holdings, LLC units prior to Reorganization Transactions | ||||||
0 | 496 | 447 | 539 | |||
Payment of IPO related expenses | ||||||
0 | 3,855 | 0 | 0 | |||
Member contributions | ||||||
0 | 0 | 200,000 | 50,000 | |||
Equity option and warrant exercises prior to Reorganization Transactions | ||||||
0 | 339 | 15 | 0 | |||
Payment of equity transaction expenses prior to Reorganization Transactions | ||||||
0 | 32 | 5,500 | 1,831 | |||
Net cash used in financing activities | ||||||
-150,604 | -145,184 | -30,535 | 725 | |||
Net increase (decrease) in cash and cash equivalents and restricted cash | ||||||
-12,658 | 104,661 | 125,724 | 118,002 | |||
Supplemental cash flow information | ||||||
Interest paid | ||||||
22,429 | 21,892 | 6,475 | 0 | |||
Income taxes paid | ||||||
11 | 0 | 254 | 306 | |||
Supplemental non-cash investing and financing activities | ||||||
Equity transaction costs accrued but not paid | ||||||
0 | 82 | 114 | 15 | |||
Capitalized software costs accrued but not paid | ||||||
0 | 300 | 756 | 0 | |||
Treasury stock traded but not settled | ||||||
0 | 2,031 | 0 | 0 | |||
Class A common stock | ||||||
Purchases of stock | ||||||
0 | 53,012 | 0 | 0 | |||