| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 |
|---|---|---|---|---|---|---|---|---|
Cash flows provided by operating activities | ||||||||
Net income (loss) | ||||||||
-4,002 | 3,237 | 2,458 | 1,162 | 127 | -1,833 | 753 | -86 | -1,309 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
5,644 | 5,428 | 6,048 | 6,432 | 6,249 | 5,710 | 5,108 | 4,985 | 4,684 |
Change in fair value of earn-out liabilities | ||||||||
- | -3,480 | -1,986 | 959 | -1,522 | 536 | 1,573 | 0 | 0 |
Equity-based compensation | ||||||||
-669 | 1,244 | 2,514 | 1,424 | 558 | -2,320 | 3,201 | 822 | 825 |
Deferred expense from income taxes | ||||||||
328 | - | - | - | - | -3,088 | 0 | 0 | -1,098 |
Amortized interest on deferred debt issuance costs | ||||||||
164 | 152 | 153 | 127 | 178 | 169 | 169 | 168 | 157 |
Increase in allowance for doubtful accounts | ||||||||
243 | 514 | -37 | -149 | 21 | 287 | 33 | -38 | 1 |
Gain on disposal of property and equipment, net | ||||||||
5 | 84 | 62 | 66 | 11 | 141 | 0 | 15 | -17 |
Other | ||||||||
65 | - | - | - | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | ||||||||
-3,219 | -1,808 | -4,406 | 7,324 | -2,335 | 721 | 3,590 | 4,284 | -4,225 |
Inventories | ||||||||
2,154 | -5,337 | -629 | 5,222 | -235 | -13,265 | 3,634 | 7,066 | 1,356 |
Prepaid expenses and other current assets | ||||||||
-68 | 380 | 356 | 1,389 | 887 | -159 | 150 | -292 | 150 |
Other assets | ||||||||
441 | -97 | -35 | 217 | -73 | -141 | 324 | -511 | 502 |
Accounts payable | ||||||||
3,983 | -143 | -3,228 | 6,283 | 2,282 | -4,778 | 596 | 2,306 | -10,015 |
Accrued expenses and other current liabilities | ||||||||
3,292 | -1,599 | -1,599 | 89 | 897 | -1,666 | 168 | 3,823 | 1,522 |
Income taxes receivable | ||||||||
-2,252 | 729 | 845 | -3,907 | 428 | 3,948 | -3,047 | -71 | 410 |
Customer deposit | ||||||||
474 | -488 | -432 | 169 | -530 | -215 | 2,002 | -30 | 1,131 |
Other long-term liabilities | ||||||||
- | - | - | - | 118 | - | - | - | 0 |
Net cash provided by operating activities | ||||||||
7,827 | 10,649 | 11,502 | -1,747 | 10,551 | 9,453 | 2,858 | 1,359 | -1,458 |
Cash flows used in investing activities | ||||||||
Purchase of property and equipment | ||||||||
1,371 | 1,896 | 3,798 | 1,595 | 1,880 | 1,416 | 680 | 4,351 | 2,060 |
Proceeds from disposal of property and equipment | ||||||||
15 | 49 | 5 | 2 | 9 | -24 | 18 | 10 | 2 |
Net cash used in investing activities | ||||||||
-1,356 | -1,847 | -3,793 | -2,468 | -16,533 | -41,311 | -21,132 | -4,341 | -13,840 |
Cash flows provided by financing activities | ||||||||
Proceeds from ERP financing | ||||||||
376 | - | - | - | - | - | - | - | - |
Proceeds from (payments on) line of credit, net | ||||||||
26,934 | -12,112 | -1,983 | 6,280 | -7,119 | -7,476 | 8,764 | 3,537 | 13,061 |
Proceeds from term loan | ||||||||
- | 0 | 0 | 0 | 11,500 | 43,000 | 8,000 | 0 | 6,250 |
Term loan deferred issuance costs | ||||||||
230 | - | - | - | - | 441 | 0 | 486 | 31 |
Purchase of treasury stock | ||||||||
655 | - | - | - | - | - | - | - | - |
Payments on notes payable and capital leases | ||||||||
-705 | - | - | - | -388 | - | - | - | - |
Payments on notes payable | ||||||||
- | - | - | - | - | - | - | - | 294 |
Principal payments on long-term debt | ||||||||
264 | 262 | 263 | 1,063 | 263 | 262 | 263 | 262 | 263 |
Net cash provided by financing activities | ||||||||
25,456 | -12,445 | -969 | -990 | 3,730 | 34,329 | 16,054 | 3,121 | 18,723 |
Net increase (decrease) in cash | ||||||||
31,927 | -3,643 | 6,740 | -5,205 | -2,252 | 2,471 | -2,220 | 139 | 3,425 |
Supplemental disclosures of cash flow information | ||||||||
Cash paid for interest | ||||||||
3,585 | 3,904 | 4,242 | 4,349 | 3,916 | 2,780 | 3,796 | 1,686 | 2,183 |
Cash paid for income taxes | ||||||||
59 | 80 | 592 | 4,226 | 1 | 481 | 3,180 | 0 | 184 |
Supplemental disclosures of non-cash investing activities | ||||||||
Acquisition | ||||||||
581 | 1,807 | 5,119 | 322 | 1,003 | 250 | 1,450 | 0 | 104 |
Intown Design Inc. | ||||||||
Change in fair value of earn-out liabilities | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Acquisition of business, net of cash acquired | ||||||||
- | 0 | 0 | 875 | 10,662 | - | 0 | 0 | 0 |
Earn-out estimate price | ||||||||
- | - | 0 | -458 | 2,468 | - | 0 | 0 | 0 |
Accrued purchase price true-up liability | ||||||||
- | - | - | - | 844 | - | - | - | 0 |
Greencraft Holdings, LLC. | ||||||||
Acquisition of business, net of cash acquired | ||||||||
- | 0 | 0 | 0 | 3,000 | - | 0 | 0 | 0 |
Acquisitions measurement period adjustments | ||||||||
- | - | - | - | - | 634 | -634 | 0 | 317 |
NSI, LLC | ||||||||
Acquisition of business, net of cash acquired | ||||||||
- | - | - | - | - | 0 | 0 | 0 | 290 |
Elegant Home Design, LLC | ||||||||
Acquisition of business, net of cash acquired | ||||||||
- | 0 | 0 | 0 | 1,000 | 0 | 0 | 0 | 11,492 |
Acquisition of Elegant Home Design, LLC, indemnity holdback | ||||||||
- | - | - | - | - | - | 0 | 0 | 1,000 |