U.s. well services, inc. (USWS)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss

-183,167

-39,433

-21,249

-26,911

-28,489

-52,241

-10,544

-937

-7,092

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

285

122

-25

0

-5

0

-5

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

32,008

36,261

39,723

40,321

37,844

30,893

26,765

24,862

25,920

-

-

-

-

-

-

-

-

Impairment of long-lived assets

147,543

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for losses on accounts receivable

9,031

-

-

-

-

75

-154

279

444

-

-

-

-

-

-

-

-

Provision for losses on inventory obsolescence

37

-

-

-

12

60

8

0

85

-

-

-

-

-

-

-

-

Non-cash interest

-

-

-

-

-

2,357

3,671

0

3,525

-

-

-

-

-

-

-

-

Loss on disposal of assets

-4,244

-4,181

-4,976

-4,004

-6,904

-2,858

126

-5,187

-2,929

-

-

-

-

-

-

-

-

Amortization of discount on debt

221

208

205

419

749

-

-

-

-

-

-

-

-

-

-

-

-

Deferred financing costs amortization

359

361

362

351

336

6,965

527

524

518

-

-

-

-

-

-

-

-

Share-based compensation expense

2,078

2,083

2,306

2,307

1,059

17,831

895

895

1,012

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Accounts receivable

19,342

-28,381

-335

24,551

26,115

-12,971

-26,315

7,444

16,077

-

-

-

-

-

-

-

-

Inventory

603

-2,038

1,165

-1,173

2,044

-2,227

-4,297

4,571

-1,638

-

-

-

-

-

-

-

-

Prepaids and other current assets

-945

-1,431

3,917

-1,010

-4,702

1,946

1,975

2,481

58

-

-

-

-

-

-

-

-

Accounts payable

15,825

-14,559

-614

-6,474

9,331

-23,343

-9,267

-2,887

12,954

-

-

-

-

-

-

-

-

Accrued liabilities

-2,702

3,976

681

-7,235

8,041

410

1,984

1,129

1,364

-

-

-

-

-

-

-

-

Accrued interest

-18,036

7,100

6,654

3,753

683

-

-

-

-

-

-

-

-

-

-

-

-

Accrued interest

-

-

-

-

-

-

-

-

-

-

798

636

74

0

0

0

-

Changes in prepaid expenses

-

-

-

-

-

-

-

-

-

-

52

-14

115

0

5

-5

-5

Changes in prepaid franchise taxes

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Changes in accounts payable and accrued expenses

-

-

-

-

-

-

-

-

-

-

96

-3

94

-5

5

0

0

Changes in due to affiliate

-

-

-

-

-

-

-

-

-

-

-4

75

0

0

0

0

-

Changes in franchise taxes payable

-

-

-

-

-

-

-

-

-

-

-100

100

0

-

-

0

-

Changes in income taxes payable

-

-

-

-

-

-

-

-

-

-

-207

207

0

-

-

0

-

Net cash provided by (used in) operating activities

-11,559

32,514

28,319

998

13,013

-645

42,396

14,556

27,162

48,308

-781

-118

-121

-

-

-

-

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment

35,017

14,987

49,225

92,447

52,442

89,049

34,958

15,829

7,770

-

-

-

-

-

-

-

-

Proceeds from sale of property and equipment

14,907

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Cash deposited in Trust Account

-

-

-

-

-

-

-

-

-

-

0

0

-325,000

0

0

0

0

Interest income released from Trust Account for taxes

-

-

-

-

-

-

-

-

-

-

680

0

0

-

-

-

0

Net cash used in investing activities

-20,110

-14,886

-48,519

-92,447

-52,442

-89,027

-26,947

-15,829

-7,770

252,755

680

0

-325,000

-

-

-

-

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facility

9,476

826

109

40,000

9,025

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of revolving credit facility

2,381

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of long-term debt

-

0

0

250,000

35,000

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term debt

2,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of Class F common stock to the Sponsor

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

25

25

Proceeds from sale of Private Placement Warrants

-

-

-

-

-

-

-

-

-

-

0

0

7,750

0

0

0

0

Proceeds from issuance of note payable

-

-

-

-

-

765

5,119

0

1,394

4,037

0

0

75

0

0

200

100

Repayments of notes payable

2,042

1,861

173

2,208

2,179

2,018

318

1,043

784

2,448

0

0

275

0

0

0

0

Repayments of amounts under equipment financing

1,308

3,747

3,686

56,503

6,683

10,513

4,239

4,179

4,066

-

-

-

-

-

-

-

-

Principal payments under finance lease obligation

1,393

4,205

4,105

4,010

4,379

2,407

2,351

2,520

2,273

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Proceeds from issuance of common stock, net

-

-

-

-

-

-

-

-

-

-

0

0

325,000

0

0

0

0

Deferred financing costs

-

0

0

11,964

1,487

-

-

-

-

-

-

-

-

-

-

-

-

Payment of offering costs

-

-

-

-

-

-

-

-

-

-

0

0

6,420

2

0

151

37

Net cash provided by (used in) financing activities

-148

-9,020

1,262

123,279

29,297

98,403

-3,508

-9,452

-5,729

-299,813

0

0

326,129

-

-

-

-

Net decrease in cash and cash equivalents and restricted cash

-31,817

8,608

-18,938

31,830

-10,132

8,731

11,941

-10,725

13,663

-

-

-

-

-

-

-

-

Supplemental cash flow disclosure:
Interest paid

25,121

985

1,174

3,320

3,359

28,951

4,739

6,004

1,843

-

-

-

-

-

-

-

-

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

73

87

(Decrease) increase in cash

-

-

-

-

-

-

-

-

-

-

-101

-118

1,008

-7

0

73

87

Income tax paid

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Non-cash investing and financing activities:
Deemed and imputed dividends on Series A preferred stock

6,249

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued Series A preferred stock dividends

1,751

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in accrued and unpaid capital expenditures

11,039

-6,171

-9,132

-37,607

59,784

-21,916

38,454

3,585

7,160

-

-

-

-

-

-

-

-

Assets under finance lease obligations

-

62

0

0

10,451

-

-

-

-

-

-

-

-

-

-

-

-

Financed equipment purchases

-

0

0

30,062

36,280

-

-

-

-

-

-

-

-

-

-

-

-

Deferred underwriting commissions

-

-

-

-

-

-

-

-

-

-

0

0

10,250

0

0

0

-

Deferred offering costs included in accrued offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5

Deferred underwriting commissions

-

-

-

-

-

-

-

-

-

-

0

0

10,250

0

0

0

0