| 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) | ||||||||
2,855 | 6,984 | 1,914 | 209 | -1,039 | -2,475 | 0 | 0 | 0 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
23,552 | 24,157 | 24,439 | 23,499 | 22,052 | 20,487 | 0 | 0 | 0 |
Change in fair value of earn-out liabilities | ||||||||
- | -6,029 | -2,013 | 1,546 | 587 | 2,109 | 0 | 0 | 0 |
Equity-based compensation | ||||||||
4,513 | 5,740 | 2,176 | 2,863 | 2,261 | 2,528 | 0 | 0 | 0 |
Deferred expense from income taxes | ||||||||
0 | - | - | - | - | -4,186 | 0 | 0 | 0 |
Amortized interest on deferred debt issuance costs | ||||||||
596 | 610 | 627 | 643 | 684 | 663 | 0 | 0 | 0 |
Increase in allowance for doubtful accounts | ||||||||
571 | 349 | 122 | 192 | 303 | 283 | 0 | 0 | 0 |
Gain on disposal of property and equipment, net | ||||||||
217 | 223 | 280 | 218 | 167 | 139 | 0 | 0 | 0 |
Other | ||||||||
0 | - | - | - | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | ||||||||
-2,109 | -1,225 | 1,304 | 9,300 | 6,260 | 4,370 | 0 | 0 | 0 |
Inventories | ||||||||
1,410 | -979 | -8,907 | -4,644 | -2,800 | -1,209 | 0 | 0 | 0 |
Prepaid expenses and other current assets | ||||||||
2,057 | 3,012 | 2,473 | 2,267 | 586 | -151 | 0 | 0 | 0 |
Other assets | ||||||||
526 | 12 | -32 | 327 | -401 | 174 | 0 | 0 | 0 |
Accounts payable | ||||||||
6,895 | 5,194 | 559 | 4,383 | 406 | -11,891 | 0 | 0 | 0 |
Accrued expenses and other current liabilities | ||||||||
183 | -2,212 | -2,279 | -512 | 3,222 | 3,847 | 0 | 0 | 0 |
Income taxes receivable | ||||||||
-4,585 | -1,905 | 1,314 | -2,578 | 1,258 | 1,240 | 0 | 0 | 0 |
Customer deposit | ||||||||
-277 | -1,281 | -1,008 | 1,426 | 1,227 | 2,888 | 0 | 0 | 0 |
Other long-term liabilities | ||||||||
- | - | - | - | 0 | - | - | - | 0 |
Net cash provided by operating activities | ||||||||
28,231 | 30,955 | 29,759 | 21,115 | 24,221 | 12,212 | 0 | 0 | 0 |
Cash flows used in investing activities | ||||||||
Purchase of property and equipment | ||||||||
8,660 | 9,169 | 8,689 | 5,571 | 8,327 | 8,507 | 0 | 0 | 0 |
Proceeds from disposal of property and equipment | ||||||||
71 | 65 | -8 | 5 | 13 | 6 | 0 | 0 | 0 |
Net cash used in investing activities | ||||||||
-9,464 | -24,641 | -64,105 | -81,444 | -83,317 | -80,624 | 0 | 0 | 0 |
Cash flows provided by financing activities | ||||||||
Proceeds from ERP financing | ||||||||
0 | - | - | - | - | - | - | - | - |
Proceeds from (payments on) line of credit, net | ||||||||
19,119 | -14,934 | -10,298 | 449 | -2,294 | 17,886 | 0 | 0 | 0 |
Proceeds from term loan | ||||||||
- | 11,500 | 54,500 | 62,500 | 62,500 | 57,250 | 0 | 0 | 0 |
Term loan deferred issuance costs | ||||||||
0 | - | - | - | - | 958 | 0 | 0 | 0 |
Purchase of treasury stock | ||||||||
0 | - | - | - | - | - | - | - | - |
Payments on notes payable and capital leases | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Payments on notes payable | ||||||||
- | - | - | - | - | - | - | - | 0 |
Principal payments on long-term debt | ||||||||
1,852 | 1,851 | 1,851 | 1,851 | 1,050 | 1,050 | 0 | 0 | 0 |
Net cash provided by financing activities | ||||||||
11,052 | -10,674 | 36,100 | 53,123 | 57,234 | 72,227 | 0 | 0 | 0 |
Net increase (decrease) in cash | ||||||||
29,819 | -4,360 | 1,754 | -7,206 | -1,862 | 3,815 | 0 | 0 | 0 |
Supplemental disclosures of cash flow information | ||||||||
Cash paid for interest | ||||||||
16,080 | 16,411 | 15,287 | 14,841 | 12,178 | 10,445 | 0 | 0 | 0 |
Cash paid for income taxes | ||||||||
4,957 | 4,899 | 5,300 | 7,888 | 3,662 | 3,845 | 0 | 0 | 0 |
Supplemental disclosures of non-cash investing activities | ||||||||
Acquisition | ||||||||
7,829 | 8,251 | 6,694 | 3,025 | 2,703 | 1,804 | 0 | 0 | 0 |
Intown Design Inc. | ||||||||
Change in fair value of earn-out liabilities | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Acquisition of business, net of cash acquired | ||||||||
- | 11,537 | 0 | 0 | 0 | - | 0 | 0 | 0 |
Earn-out estimate price | ||||||||
- | - | 0 | 0 | 0 | - | 0 | 0 | 0 |
Accrued purchase price true-up liability | ||||||||
- | - | - | - | 0 | - | - | - | 0 |
Greencraft Holdings, LLC. | ||||||||
Acquisition of business, net of cash acquired | ||||||||
- | 3,000 | 0 | 0 | 0 | - | 0 | 0 | 0 |
Acquisitions measurement period adjustments | ||||||||
- | - | - | - | - | 317 | 0 | 0 | 0 |
NSI, LLC | ||||||||
Acquisition of business, net of cash acquired | ||||||||
- | - | - | - | - | 290 | 0 | 0 | 0 |
Elegant Home Design, LLC | ||||||||
Acquisition of business, net of cash acquired | ||||||||
- | 1,000 | 1,000 | 1,000 | 1,000 | 11,492 | 0 | 0 | 0 |
Acquisition of Elegant Home Design, LLC, indemnity holdback | ||||||||
- | - | - | - | - | - | 0 | 0 | 0 |