Advantage Solutions Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
ADV$32.29-2.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(3,115) | $(47,678) |
| Net income (loss) from discontinued operations, net of tax | 45,992 | (13,308) |
| Net loss from continuing operations | (49,107) | (34,370) |
| Adjustments to reconcile net loss to net cash provided by operating activities | ||
| Noncash interest income | (4,165) | 1,885 |
| Amortization of deferred financing fees | 1,800 | 2,109 |
| Depreciation and amortization | 51,540 | 54,494 |
| Change in fair value of warrant liability | 287 | (73) |
| Fair value adjustments related to contingent consideration | 689 | 4,292 |
| Deferred income taxes | (423) | (16,448) |
| Equity-based compensation of Karman Topco L.P. | 390 | (2,269) |
| Stock-based compensation | 7,220 | 11,210 |
| Equity in earnings of unconsolidated affiliates | 689 | — |
| Distribution received from unconsolidated affiliates | 1,282 | 588 |
| Gain on repurchases of Senior Secured Notes | (2,669) | — |
| Gain on disposal of property and equipment | 469 | — |
| Changes in operating assets and liabilities, net of effects from divestitures and purchases of businesses: | ||
| Accounts receivable, net | 34,472 | 63,590 |
| Prepaid expenses and other assets | 19,743 | 22,290 |
| Accounts payable | 8,877 | (45,410) |
| Accrued compensation and benefits | (72,751) | (53,086) |
| Deferred revenues | (3,935) | 11,084 |
| Other accrued expenses and other liabilities | (3,302) | 21,510 |
| Net cash (used in) provided by operating activities from continuing operations | (8,894) | 41,396 |
| Net cash provided by operating activities from discontinued operations | 1,060 | 1,690 |
| Net cash (used in) provided by operating activities | (7,834) | 43,086 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of investment in unconsolidated affiliates | (2,500) | — |
| Purchase of property and equipment | (16,155) | (5,988) |
| Proceeds from divestitures | 87,370 | — |
| Net cash provided by (used in) investing activities from continuing operations | 68,715 | (5,988) |
| Net cash used in investing activities from discontinued operations | (1,010) | (1,290) |
| Net cash provided by (used in) investing activities | 67,705 | (7,278) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Borrowings under lines of credit | — | 56,843 |
| Payments on lines of credit | — | (56,033) |
| Principal payments on long-term debt | (3,318) | (3,317) |
| Repurchases of Senior Secured Notes and Term Loan Facility debt | (47,899) | (1,725) |
| Proceeds from issuance of common stock | 1,167 | 1,193 |
| Payments for taxes related to net share settlement under 2020 Incentive Award Plan | (3,292) | (1,277) |
| Contingent consideration payments | (1,851) | (1,101) |
| Holdback payments | — | (1,380) |
| Purchase of treasury stock | (11,689) | — |
| Net cash used in financing activities from continuing operations | (66,882) | (6,797) |
| Net cash used in financing activities from discontinued operations | (73) | (81) |
| Net cash used in financing activities | (66,955) | (6,878) |
| Net effect of foreign currency changes on cash from continuing operations | (2,136) | 1,311 |
| Net effect of foreign currency changes on cash from discontinued operations | (310) | (10) |
| Net effect of foreign currency changes on cash | (2,446) | 1,301 |
| Net change in cash, cash equivalents and restricted cash | (9,530) | 30,231 |
| Cash, cash equivalents and restricted cash, beginning of period | 142,842 | 138,532 |
| Cash, cash equivalents and restricted cash, end of period | 133,312 | 168,763 |
| Less: Cash, cash equivalents and restricted cash of discontinued operations | 5,307 | 3,010 |
| Cash, cash equivalents and restricted cash, end of period | $128,005 | $165,753 |
| SUPPLEMENTAL CASH FLOW INFORMATION | ||
| (Gain) loss on divestitures from discontinued operations | $(57,016) | $16,497 |
| Purchase of property and equipment recorded in accounts payable and accrued expenses | $5,238 | $2,105 |
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