Spark energy, inc. (SPKEP)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Cash flows from operating activities:
Net income

21,536

14,213

-378

-19,227

30,184

-14,392

47,222

41,337

22,081

75,044

52,882

46,741

61,064

65,673

44,668

43,742

28,787

25,975

11,449

5,994

2,156

-4,265

0

0

0

Adjustments to reconcile net loss to net cash flows provided by operating activities:
Depreciation and amortization expense

37,639

41,002

44,863

49,277

51,963

51,436

50,620

48,894

46,094

42,666

46,367

49,463

49,941

48,526

40,248

32,536

27,889

25,378

29,770

26,326

23,540

22,221

0

0

0

Deferred income taxes

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Stock based compensation

5,639

5,487

6,225

5,625

5,920

5,879

4,742

4,839

4,822

5,058

5,238

5,705

5,991

5,242

5,216

4,464

3,249

3,181

2,488

2,017

1,408

858

0

0

0

Amortization of deferred financing costs

1,257

1,275

1,050

1,184

1,264

1,291

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

-

-

-

-

-

-

-

-

-

-7,898

-10,406

-3,708

-429

-140

843

1,000

1,000

0

0

0

0

-

-

-

-

Amortization of deferred financing costs

1,257

1,275

1,050

1,184

1,264

1,291

1,528

1,116

1,082

1,035

953

964

799

668

582

546

479

412

346

507

568

631

0

0

0

Accretion on fair value of Earnout liabilities

-

-

-

-

-

-

-

-

-

4,108

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Bad debt expense

12,006

13,500

10,840

10,425

11,561

10,135

11,644

11,406

8,667

6,600

3,894

1,757

749

1,300

2,668

4,191

5,868

7,908

12,273

12,316

12,546

10,164

0

0

0

Loss on derivatives, net

-72,795

-67,749

-59,489

-53,679

-1,169

-18,170

37,862

16,993

-9,738

5,008

-14,705

-12,562

10,360

22,407

-9,492

-8,822

-26,941

-18,497

-20,915

-22,154

-21,300

-14,535

0

0

0

Current period cash settlements on derivatives, net

51,106

41,919

27,744

16,023

12,510

-11,038

-7,407

600

-3,022

19,598

26,550

20,426

20,148

24,427

27,521

30,701

30,214

23,948

18,893

15,853

10,909

-3,479

0

0

0

Accretion of discount to convertible subordinated notes to affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-5

289

218

254

-715

0

0

0

-

-

-

-

-

-

-

-

Payments of Earnouts

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid in kind - subordinated convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Other

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

0

0

-

-

-

-

Changes in assets and liabilities:
Decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-707

0

0

0

707

0

0

0

Decrease in accounts receivable

-38,417

-23,699

-21,671

-17,906

-9,084

-2,692

29,388

24,476

26,362

32,361

15,179

15,017

13,410

12,088

-10,457

-9,269

-11,012

-7,876

2,458

3,941

-15,898

11,283

0

0

0

Increase in accounts receivable—affiliates

306

-526

-2,388

455

-432

-859

-659

-456

1,050

1,459

1,629

2,874

-100

118

1,389

475

1,088

608

963

493

-6,305

-5,563

0

0

0

Decrease in inventory

29

-924

-497

161

-247

-674

-1,693

-1,665

-30

718

1,962

852

-380

-542

-2,134

-1,161

-507

-4,544

-4,605

-1,065

512

3,711

0

0

0

Increase in customer acquisition costs

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in customer acquisition costs

-

-

-

-

-

13,673

16,181

20,054

22,458

25,874

30,315

28,625

27,292

21,907

0

0

0

-

0

0

0

-

0

0

0

Increase in prepaid and other current assets

-2,975

-9,250

-6,177

2,429

-2,994

14,033

10,620

3,538

19,502

-1,915

-2,530

-3,159

51

-71

1,188

-7,541

-7,044

-10,845

-8,863

-3,955

2,968

6,905

0

0

0

Decrease (increase) in other assets

-446

-55

821

1,218

379

335

-291

-420

523

465

76

3

-1,056

-1,321

112

1,022

836

1,101

200

-309

59

90

0

0

0

Decrease in accounts payable and accrued liabilities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in accounts payable and accrued liabilities

-

-

-

-

-

-

0

0

14,719

-

12,020

5,657

13,192

14,831

-5,187

-10,468

-14,421

-13,307

-7,271

-6,743

-23,112

1,449

0

0

0

Decrease in accounts payable—affiliates

-1,512

-1,455

-2,486

102

-1,604

-2,158

-2,900

-2,511

1,163

51

987

1,062

-3,175

458

731

881

2,478

944

1,015

528

1,432

1,017

0

0

0

Increase in other current liabilities

-1,700

-1,459

1,716

-2,297

3,993

-3,050

-6,372

107

-5,450

-1,210

4,169

-84

-205

2,364

-894

136

-1,162

-645

0

0

0

-

-

-

-

Increase in other non-current liabilities

-348

6

475

551

545

41

-776

-1,620

-1,334

-1,487

488

1,330

-389

46

-1,320

-1,267

2,009

1,898

0

0

0

-

-

-

-

Decrease in intangible assets—customer acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,776

4,321

4,265

2,221

1,545

0

0

0

Increase (decrease) in other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash provided by operating activities

101,075

91,735

94,995

74,382

99,352

59,763

41,941

52,916

29,297

62,131

67,350

63,376

64,742

66,950

67,899

59,437

52,187

45,931

33,584

15,909

18,911

5,874

0

0

0

Cash flows from investing activities:
Purchases of property and equipment

1,402

1,120

909

726

929

1,429

1,363

2,496

2,346

1,704

1,933

1,180

1,705

2,258

2,274

2,323

1,990

1,766

2,081

2,528

2,694

3,040

0

0

0

Cash paid for acquisitions

-

-

-

-

-

17,552

78,680

90,895

90,895

75,854

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payment of the Major Energy Companies Earnout

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

Acquisition of the Verde Companies

-

-

-

-

-

-

-

-

-

-

0

0

2,097

-

0

0

0

-

-

-

-

-

-

-

-

Acquisition of Customers from Affiliate

44

5,913

5,913

5,913

5,869

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contribution to equity method investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

562

743

498

330

0

0

0

-

-

-

-

Net cash used in investing activities

6,985

1,398

-1,778

-1,354

-9,309

-18,981

-22,564

-26,049

-93,241

-77,558

-78,001

-107,136

-32,768

-33,489

-33,299

-42,913

-42,335

-41,943

-43,645

-2,528

-2,694

-3,040

0

0

0

Cash flows from financing activities:
Buyback of Series A Preferred Stock

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Issuance of Preferred Stock and Preference Stock

-

-

-

-

-

48,490

48,419

50,794

50,124

40,241

40,312

37,937

38,607

0

0

0

0

-

-

-

-

-

-

-

-

Payment of the Major Energy Companies Earnout

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings on notes payable

366,500

356,000

364,000

389,000

398,000

417,300

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Borrowings on notes payable

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

Payments on notes payable

372,000

362,500

367,000

407,000

394,000

403,050

314,325

219,200

208,496

152,939

141,715

135,289

94,820

66,652

0

0

0

-

0

0

0

-

-

-

-

Earnout Payments

-

-

-

-

-

1,607

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on the Verde promissory note

1,000

2,036

8,885

8,885

11,197

13,422

4,424

6,573

3,261

0

0

0

0

-

-

-

-

-

-

-

-

-

-

0

0

Member contribution (distributions), net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

36,406

0

0

0

Proceeds From Disgorgement Of Short-Swing Profits

9

55

55

99

46

244

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from disgorgement of stockholders short-swing profits

9

55

55

99

46

244

501

663

707

1,129

872

1,027

1,607

941

0

0

0

-

-

-

-

-

-

-

-

Restricted stock vesting

1,387

1,348

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of dividends to Class A common stockholders

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of dividends to Class A common stockholders

-

-

-

-

-

-

0

0

9,545

-

9,492

9,464

9,229

8,367

7,135

5,903

4,861

4,456

4,054

2,931

1,809

721

0

0

0

Payment of distributions to non-controlling unitholders

38,196

34,794

39,885

23,517

34,426

35,478

33,231

33,479

34,275

33,800

32,917

44,785

33,401

34,930

30,179

17,760

17,566

15,587

14,275

10,378

6,481

2,584

0

0

0

Payment of Preferred Stock dividends

8,090

8,106

8,109

8,109

8,109

7,014

5,919

5,065

3,038

2,106

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payment to affiliates for acquisition of customer book

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment to affiliates for acquisition of customer book

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-87,792

-85,103

-92,431

-80,150

-75,905

-20,563

12,170

-5,210

60,060

25,886

4,993

44,958

-9,974

-18,975

-25,048

-8,692

-12,082

-3,873

14,933

-9,853

-15,793

-5,664

0

0

0

Decrease in Cash, cash equivalents and Restricted cash

20,268

8,030

786

-7,122

14,138

20,219

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in Cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

0

0

22,000

-

9,552

7,832

-2,230

115

4,872

3,528

424

-2,830

0

0

0

Supplemental Disclosure of Cash Flow Information:
Non-cash items:
Property and equipment purchase accrual

-

92

89

4

-301

-123

-73

-82

195

91

9

60

51

32

0

0

0

-

-

-

38

19

0

0

0

Tax benefit from tax receivable agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

Cash paid during the period for:
Interest

5,862

6,634

7,173

7,722

8,128

7,883

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

-

-

0

2,629

-

2,050

2,007

1,834

1,661

1,437

1,063

959

860

0

0

0

Taxes

-

-

-

-

-

-

-

-

-

11,205

11,312

12,666

6,602

7,326

3,842

1,958

1,058

216

0

0

0

-

-

-

-