Tecnoglass inc. (TGLS)
CashFlow / Quarterly
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'14Dec'13Nov'13Sep'13Aug'13Jun'13May'13Mar'13Feb'13Nov'12Aug'12May'12Feb'12Nov'11
Net (loss) income attributable to parent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,679

14,356

-

-1,938

-21,000

11,862

12,422

13,120

-6,039

-9,992

15,533

-

3,194

-

3,204

-

2,501

-

-

-

-

-

-

CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income

-18,668

10,597

-1,319

7,660

7,331

-4,415

6,152

-3,870

10,619

1,169

7,025

-3,500

1,031

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,451

-

-536

-

190

-

-343

952

175

-12,163

-12

-4

Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Provision for bad debts

368

343

522

371

153

600

182

-244

-169

389

122

1,634

983

5,578

-887

-5

0

-

-

-

-

-1

21

-20

20

-2,093

-

763

-

790

-

805

-

-

-

-

-

-

Provision for obsolete inventory

-

-

-

-

-

-

-1

6

21

0

22

58

0

238

0

0

0

-

-

-

-

-

-

-

-

362

-

363

-

612

-

146

-

-

-

-

-

-

Depreciation and amortization

5,241

5,546

5,631

5,717

5,841

5,674

6,025

5,793

5,665

5,277

5,326

5,461

4,905

4,370

4,084

3,737

3,331

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on change in fair value of earnout share liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,311

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-9,031

2,442

-4,823

-1,264

947

-4,522

-893

-655

2,781

-2,512

3,245

-5,180

-1,690

-15

-274

-345

387

939

-204

-697

-157

-1,267

-466

270

548

3,699

-

-8

-

606

-

216

-

-

-

-

-

-

Change in value of derivative liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9

10

-

-

24

18

114

-113

-43

67

-

-

-117

-

0

-

0

-

-

-

-

-

-

Change in fair value of earnout share liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,630

-3,330

-3,704

-

2,519

9,653

-1,981

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of warrant liability

-

-

-

-

-

-

-

-

-

-

-

-

-

1,063

-12,885

6,687

5,911

-3,440

-10,148

-16,391

5,078

5,058

6,756

-4,645

-8,880

7,626

-

0

-

0

-

0

-

-

-

-

-

-

Director stock compensation

-

-

-

-

-

-

71

71

71

71

71

71

71

71

63

166

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,715

2,501

765

2,805

3,020

1,952

1,261

-

1,982

-

2,360

-

1,635

-

-

-

-

-

-

Change in fair value of investments held for trading

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

21

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) Loss on disposition of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

9

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity method income

260

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred cost of financing

440

-

-

-

393

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash adjustments

40

41

-795

813

23

-42

-779

330

349

-899

308

535

-16

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized currency translation losses (gains)

-37,533

-

-

-

1,792

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Extinguishment of Debt

-

-

-

-

-

-

-

-

-

-11

-16

2

2,583

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in warrant liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,132

-

426

-

-257

-

231

-1,038

-334

12,110

-

-

Accrued interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-42

-

9

-

9

-

5

9

6

5

0

0

Changes in operating assets and liabilities:
Trade accounts receivables

-664

-10,425

13,204

1,883

14,953

13,149

6,599

9,070

-5,118

3,963

-630

9,348

-15,178

52,737

-40,213

1,835

11,620

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due from transfer agent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

Subscription receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

Trade accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,535

7,795

5,099

-5,261

-10,155

16,626

3,792

18,619

-

9,988

-

-8,882

-

1,166

-

-

-

-

-

-

Inventories

2,848

-4,480

-1,861

792

-2,870

11,039

9,696

6,268

1,061

7,524

2,112

7,414

-603

-3,715

396

1,832

5,792

8,056

7,408

8,793

4,928

7,161

3,103

1,912

-1,480

2,936

-

-562

-

1,917

-

1,852

-

-

-

-

-

-

Prepaid expenses

-69

315

1,781

412

820

652

84

343

82

226

-165

-85

2

480

-329

-680

-270

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

-

-

44

4

-

-

Prepaid expenses and other current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-162

-45

-153

-

-

-

297

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,126

-

897

-

-

-

-

-

-

Other assets

4,940

2,663

3,802

-3,334

4,613

811

3,743

-1,960

2,051

-3,810

7,798

-7,167

5,183

-8,753

1,380

-415

6,445

3,686

1,552

972

3,325

-13,841

5,519

347

6,123

-

-

-

-

2

-

-182

-

-

-

-

-

-

Trade accounts payable and accrued expenses

-6,274

-18,897

7,880

434

8,187

29,911

6,951

17,938

-20,212

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

119

-

75

-

-11

-21,410

17

31

-36

-8

12

4

Trade accounts payable

-

-

-

-

-

-

-

-

-

20,129

-15,298

19,865

-11,641

-8,657

-9,123

14,562

2,233

-5,805

7,881

8,287

4,398

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued interest expense

-4,546

4,445

-4,556

4,531

-4,337

4,834

-4,409

4,439

-4,398

-4,206

800

4,305

2,870

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes payable

3,113

1,430

5,432

-6,511

4,724

2,046

4,256

-9,823

-794

4,535

2,027

-17,824

2,720

2,897

227

-8,739

3,316

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Labor liabilities

-1,270

-645

953

276

-603

-594

1,048

357

-471

-552

816

294

-424

-366

809

224

-228

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contract assets and liabilities

-2,352

-3,465

-4,654

1,888

7,905

3,086

1,745

-2,993

6,728

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Related parties

-1,435

-1,591

929

2,870

-1,075

-463

-839

149

1,130

-1,282

1,313

1,711

73

2,651

4,447

-1,219

-3,620

11,061

-8,026

1,657

-4,397

-10,799

-4,240

2,127

-6,220

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,000

-

-

0

-

0

-

0

-

-

-

-

-

-

CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES

548

19,191

-1,500

14,677

-5,629

4,443

-3,025

3,763

-10,212

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-157

-

-44

-

-86

-

-100

-14

-246

-72

-0

-0

CASH FLOWS FROM INVESTING ACTIVITIES
Other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,848

-45

5,463

-

8,751

-5,075

2,375

-

-

5,023

-

-5,623

-

1,398

-

-

-

-

-

-

CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES

-

-

-

-

-

-

-

-

-

-

-

-

11,407

-

-9,241

6,578

-9,197

-7,731

2,995

1,908

5,339

9,342

8,735

-11,506

-11,381

2,241

-

9,146

-

-665

-

12

-

-

-

-

-

-

Proceeds from sale of investments

193

725

220

343

295

482

726

190

177

115

98

185

173

260

23,809

183

234

1,537

-59

180

255

1,975

31

278

59

2,266

-

-275

-

177

-

1,054

-

-

-

-

-

-

Acquisition of businesses

-

-

-

-

-

-

-

-

-

0

0

6,710

1,163

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash acquired from GM&P and Componenti

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of investments

137

512

496

369

307

356

166

444

218

-116

-11

277

450

1,898

2,312

-857

23,622

-567

296

745

403

90

159

460

409

-1,767

-

963

-

391

-

520

-

-

-

-

-

-

Acquisition of property and equipment

6,469

5,065

6,109

10,077

3,701

5,922

2,306

3,819

1,070

326

2,406

2,348

1,947

7,044

10,749

5,113

0

-3,327

3,040

10,419

4,769

-70

17,636

6,097

1,185

-897

-

10,260

-

6,953

-

3,685

-

-

-

-

-

-

Investment in cash and cash equivalents held in trust

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

42,740

0

0

CASH USED IN INVESTING ACTIVITIES

-6,413

-4,852

-6,385

-44,203

-3,713

-5,796

-1,746

-10,073

-1,111

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

-42,740

0

0

Trade accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,416

3,260

-7,365

-

-

-

-

-

-

-

-

-

-

-

-

-

Customer advances on uncompleted contracts

-

-

-

-

-

-

-

-

-

-

214

2,937

-654

-

-2,331

-3,888

4,261

999

-2,930

2,300

5,954

-6,073

-13,022

-1,275

1,909

24,238

-

-3,887

-

-20,664

-

18,454

-

-

-

-

-

-

Subsidiary distributions prior to acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

938

124

429

772

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

CASH FLOWS FROM FINANCING ACTIVITIES
CASH USED IN INVESTING ACTIVITIES

-

-

-

-

-

-

-

-

-

-

-

-

-3,387

-

10,748

-4,073

-23,388

9,758

-3,286

-10,950

-4,917

5,592

-17,731

-2,707

-1,535

1,187

-

-11,498

-

-7,167

-

-3,151

-

-

-

-

-

-

Repayments of debt and capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

48,061

18,388

91,743

29,895

23,368

27,326

21,767

-

24,445

21,038

16,530

7,178

-

-12,047

-

9,487

-

8,247

-

-

-

-

-

-

Proceeds from debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31,242

31,630

124,570

33,666

22,146

35,207

22,255

-1,261

33,290

31,851

23,229

1,859

-

-13,899

-

14,523

-

18,754

-

-

-

-

-

-

Cash dividend

-

1,513

1,544

1,410

760

670

685

819

540

607

645

669

550

741

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from equity offering

-

0

0

3,428

33,050

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

0

0

25

Proceed from bond issuance

-

-

-

-

-

-

-

-

-

32

53

-168

201,884

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from debt

14,353

-25,353

34,224

29,963

6,693

12,328

7,205

6,073

2,994

448

-602

662

20,253

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Public Offering, net of offering costs of $1,449,055

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

38,550

0

0

Payment of additional offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

0

8

64

Proceeds from the exercise of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

2,400

0

0

Repayments of debt

15,073

-17,661

29,507

16,312

1,349

3,572

3,354

-792

2,726

-

1,861

854

202,900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Underwriters Options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

500

0

0

Proceeds from Over Allotment, net of offering costs of $60,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

1,940

0

0

Proceeds from note payable to shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

100

-

0

0

0

0

0

52

Repayment of advances from shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

71

0

0

0

Repayment of note payable to shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

100

0

0

CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES

-720

-9,205

3,173

15,669

37,634

8,086

3,166

6,046

-272

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

150

-

0

-

100

-

0

0

-71

43,291

-8

12

Proceeds from merger

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22,519

-

-

-

-

-

-

-

-

-

-

-

-

-

CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES

-

-

-

-

-

-

-

-

-

-

-

-

18,687

-

-16,539

12,813

32,055

2,362

-1,222

7,881

488

-16,351

8,685

10,973

30,218

-5,319

-

-1,852

-

5,036

-

10,507

-

-

-

-

-

-

Effect of exchange rate changes on cash and cash equivalents

-4,453

989

-1,187

-217

380

-1,644

-369

-416

1,277

-376

891

-1,298

747

-260

1,093

-639

305

-1,985

2,366

47

292

-397

611

416

100

-220

-

6,697

-

2,548

-

-6,771

-

-

-

-

-

-

NET (DECREASE) INCREASE IN CASH

-11,038

6,123

-5,899

-14,074

28,672

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET INCREASE (DECREASE) IN CASH

-

-

-

-

-

-

-

-

-10,318

4,770

-7,529

-10,690

27,454

3,732

-13,939

14,679

-225

2,404

853

-1,114

1,202

-1,814

300

-2,824

17,402

-

-7

-

-44

-

13

597

-100

-14

-318

479

-9

12

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest

9,282

454

9,677

299

9,230

8,707

442

164

8,910

74

8,836

69

6,795

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,860

2,203

-

1,539

1,854

1,385

3,420

538

2,024

1,469

2,064

-

2,568

-

1,532

-

1,139

-

-

-

-

-

-

Income Tax

1,986

1,206

2,721

6,529

1,840

1,415

1,467

1,259

4,258

2,183

483

11,175

3,993

156

11,992

9,237

4,440

6,194

-170

5,765

1,423

-4,684

2,147

5,638

0

4,183

-

0

-

0

-

0

-

-

-

-

-

-

NON-CASH INVESTING AND FINANCING ACTIVITES:
Assets acquired under credit or debt

991

-445

278

-79

1,468

-802

546

389

314

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Assets acquired under capital lease, financial obligations or credit

-

-

-

-

-

-

-

-

-

1,751

0

0

0

392

7,811

4,555

6,883

20,695

24,444

11,080

9,100

24,626

690

2,407

55

7,811

-

8,984

-

891

-

0

-

-

-

-

-

-

Payment of offering costs by shareholder and included in note payable to shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

0

0

48

Payments of offering costs advanced from shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

0

-

0

0

0

71

-

-