Limbach holdings, inc. (LMB)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'15Mar'15Dec'14Dec'13
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent

-1,775

-1,845

712

4,372

-325

1,986

5,303

Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation

-

-

-

2,598

-

2,442

2,384

Amortization

-

-

-

32

-

152

206

Depreciation, Depletion and Amortization

6,286

5,683

9,118

2,630

-

2,594

2,590

Noncash operating lease expense

3,799

-

-

-

-

-

-

Goodwill, Impairment Loss

4,359

0

-

-

-

-

-

Provision for doubtful accounts

95

64

259

-41

-

-56

78

Paid-in-kind interest on subordinated debt

-

-

-

2,702

-

2,391

2,423

Stock-based compensation expense

1,766

2,159

1,656

-

-

-

-

Gains (Losses) on Restructuring of Debt

0

-335

-

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-513

0

0

-

-

-

-

Amortization of debt discount and issuance costs

1,392

373

-

-

-

-

-

Amortization of debt discount and issuance costs

-

-

181

-

-

-

-

Deferred tax benefit

-609

-745

603

-

-

-

-

Fair Value Adjustment of Warrants

-588

0

-

-

-

-

-

Gain on embedded derivative

388

0

-

-

-

-

-

Accretion of preferred stock discount to redemption value

-

-

21

-

-

-

-

Gain (Loss) on Disposition of Property Plant Equipment

57

90

-121

-73

-

37

5

Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities

-

-

-

9,736

-

6,878

10,379

Changes in operating assets and liabilities:
Decrease in restricted cash

-

-

-

0

-

-21

-1,490

Accounts receivable

-659

6,408

15,630

11,458

-

2,699

-213

Contract assets

13,378

-

-

-

-

-

-

Costs and estimated earnings in excess of billings on uncompleted contracts

-

-308

1,046

7,849

-

495

-4,492

Other current assets

-30,139

31,162

-698

50

-

6

-72

Other assets

0

0

-1

-1

-

52

0

Prepaid assets

-

-

-

-

50

-

-

Accounts payable, including retainage

11,914

6,914

-

-

-

-

-

Increase (decrease) in accounts payable

-

-

10,404

2,658

102

449

715

Contract liabilities

-6,446

0

-

-

-

-

-

Billings in excess of costs and estimated earnings on uncompleted contracts

-

22,301

-10,647

1,603

-

-193

700

(Decrease) increase in taxes

-

-

2,220

-

-

-

-

Prepaid income taxes

58

-2,753

-

-

-

-

-

Accrued taxes payable

12

0

-

-

-

-

-

Accrued expenses and other current liabilities

-34,686

29,535

-2,780

6,616

-

381

-3,328

Operating lease liabilities

-3,654

-

-

-

-

-

-

Other long-term liabilities

-337

653

44

-651

-

-153

-529

Net cash provided by (used in) operating activities

-926

25,322

-4,065

-

-

-

-

Cash flows from investing activities:
Net cash provided by operating activities

-

-

-

606

-274

4,131

14,204

Proceeds from sale of property and equipment

168

198

70

58

-

71

44

Advances to joint ventures

-4

1

1

1

-

-1

2

Acquisition of intangibles

-

-

-

0

-

0

40

Purchase of property and equipment

2,663

3,877

3,303

2,380

-

889

2,007

Net cash used in investing activities

-2,491

-3,680

-3,234

-

-

-

-

Cash flows from financing activities:
Bank overdrafts

-1,333

-6,446

7,780

-

-

-

-

Proceeds from investment in restricted cash and investments

-

-

-

-

46,014

-

-

Net cash used in investing activities

-

-

-

-2,323

-46,014

-817

-2,005

Proceeds from revolving credit facility

-

-

-

63,553

-

66,690

61,023

Payments on Credit Agreement term loan

14,335

3,300

4,865

61,053

-

68,190

62,523

Proceeds from Credit Agreement revolver

17,500

109,650

111,562

-

-

-

-

Payments on Credit Agreement revolver

17,500

115,308

105,904

-

-

-

-

Proceeds from 2019 Revolving Credit Facility

32,500

0

-

-

-

-

-

Payments on 2019 Revolving Credit Facility

32,500

0

-

-

-

-

-

Proceeds from 2019 Refinancing Term Loan, net of debt discount

38,644

-

-

-

-

-

-

Proceeds from 2019 Refinancing Term Loan, net of debt discount

38,644

-

-

-

-

-

-

Warrants issued in conjunction with the 2019 Refinancing Term Loan

969

-

-

-

-

-

-

Embedded derivative associated with the 2019 Refinancing Term Loan

388

-

-

-

-

-

-

Proceeds from Bridge Term Loan

0

10,000

-

-

-

-

-

Payments on Bridge Term Loan

7,736

2,264

-

-

-

-

-

Payments on finance leases

2,547

-

-

-

-

-

-

Payments on term loan

-

-

33

2,074

-

2,073

2,070

Proceeds from Bridge Term Loan

-

-

0

-

-

-

-

Payments on Bridge Term Loan

-

-

0

-

-

-

-

Payments on subordinated debt facility

-

-

-

0

-

766

2,324

Payments on financed insurance premium

-

-

2,135

-

-

-

-

Payments of distributions

-

-

-

124

-

275

78

Payments on finance leases

-

1,939

1,690

1,090

-

957

768

Convertible preferred stock redeemed

0

9,191

3,847

-

-

-

-

Convertible preferred stock dividends paid

0

875

245

-

-

-

-

Taxes paid related to net-share settlement of equity awards

131

211

104

-

-

-

-

Proceeds from sale of common stock

-

-

-

-

25

-

-

Payments of debt issuance costs

3,777

765

0

-

-

-

-

Proceeds from note payable - stockholder

-

-

-

-

125

-

-

Proceeds from sale of units in IPO, including over-allotment, net of offering costs

-

-

-

-

44,168

-

-

Proceeds from private placement of units, including over-allotment

-

-

-

-

1,980

-

-

Proceeds from private placement of $15 exercise price warrants

-

-

-

-

300

-

-

Proceeds from sale of underwritter purchase option

-

-

-

-

0

-

-

Net cash used in financing activities

-

-

-

-788

46,598

-5,571

-6,740

Net cash provided by (used in) financing activities

10,142

-20,649

519

-

-

-

-

Increase in cash, cash equivalents and restricted cash

6,725

993

-

-

-

-

-

Increase (decrease) in cash, cash equivalents and restricted cash

-

-

-6,780

-2,505

309

-2,257

5,459

Supplemental disclosures of cash flow information
Noncash investing and financing transactions:
Debt issuance costs related to 2019 Refinancing Agreement paid-in-kind

1,000

0

-

-

-

-

-

Property and equipment acquired financed with capital leases

0

3,260

1,801

1,547

-

1,003

1,560

Right of use assets obtained in exchange for new operating lease liabilities

3,355

-

-

-

-

-

-

Right of use assets obtained in exchange for new finance lease liabilities

3,578

-

-

-

-

-

-

Right of use assets disposed or adjusted modifying operating leases liabilities

1,651

-

-

-

-

-

-

Right of use assets disposed or adjusted modifying finance leases liabilities

-78

-

-

-

-

-

-

Financed insurance premium

-

-

2,135

-

-

-

-

Interest paid

4,607

2,714

1,882

527

-

1,489

2,937