Advantage Solutions Inc
For the period ended Jun 30, 2024. Filed Aug 9, 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.
Jun 30, 2024 · Filed Aug 9, 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
| Six Months Ended June 30, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(103,950) | $(55,524) |
| Net income (loss) from discontinued operations, net of tax | 59,199 | (6,606) |
| Net loss from continuing operations | (163,149) | (48,918) |
| Adjustments to reconcile net loss to net cash provided by operating activities | ||
| Noncash interest income | (5,427) | (9,500) |
| Deferred financing fees related to repricing of long-term debt | 1,079 | — |
| Amortization of deferred financing fees | 3,470 | 4,238 |
| Impairment of goodwill | 99,670 | — |
| Depreciation and amortization | 101,065 | 105,021 |
| Change in fair value of warrant liability | (399) | — |
| Fair value adjustments related to contingent consideration | 1,678 | 8,969 |
| Deferred income taxes | (29,546) | (33,403) |
| Equity-based compensation of Karman Topco L.P. | (480) | (3,487) |
| Stock-based compensation | 16,082 | 20,417 |
| Loss from unconsolidated investments | (123) | (3,002) |
| Distribution received from unconsolidated affiliates | 3,289 | 1,611 |
| Gain on repurchases of Senior Secured Notes and Term Loan Facility debt | (5,103) | (4,969) |
| Changes in operating assets and liabilities, net of effects from divestitures: | ||
| Accounts receivable, net | 9,268 | 32,854 |
| Prepaid expenses and other assets | 26,233 | 63,109 |
| Accounts payable | 32,834 | (35,944) |
| Accrued compensation and benefits | (21,602) | 2,435 |
| Deferred revenues | 2,449 | 12,501 |
| Other accrued expenses and other liabilities | (27,233) | (11,523) |
| Net cash provided by operating activities from continuing operations | 44,055 | 100,409 |
| Net cash provided by operating activities from discontinued operations | 6,368 | 4,581 |
| Net cash provided by operating activities | 50,423 | 104,990 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of investment in unconsolidated affiliates | (10,932) | — |
| Purchase of property and equipment | (25,029) | (14,046) |
| Proceeds from divestitures, net of cash | 146,828 | 12,763 |
| Net cash provided by (used in) investing activities from continuing operations | 110,867 | (1,283) |
| Net cash used in investing activities from discontinued operations | (7,332) | (4,506) |
| Net cash provided by (used in) investing activities | 103,535 | (5,789) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Borrowings under lines of credit | — | 72,735 |
| Payments on lines of credit | — | (71,278) |
| Principal payments on long-term debt | (6,637) | (6,741) |
| Repurchases of Senior Secured Notes and Term Loan Facility debt | (71,749) | (49,427) |
| Debt issuance costs | (971) | — |
| Proceeds from issuance of common stock | 1,167 | 1,193 |
| Payments for taxes related to net share settlement under 2020 Incentive Award Plan | (11,113) | (1,277) |
| Contingent consideration payments | (4,455) | (1,867) |
| Holdback payments | — | (656) |
| Redemption of noncontrolling interest | — | (154) |
| Purchase of treasury stock | (20,775) | — |
| Net cash used in financing activities from continuing operations | (114,533) | (57,472) |
| Net cash (used in) provided by financing activities from discontinued operations | (4,243) | 397 |
| Net cash used in financing activities | (118,776) | (57,075) |
| Net effect of foreign currency changes on cash from continuing operations | (2,579) | 1,843 |
| Net effect of foreign currency changes on cash from discontinued operations | (435) | (349) |
| Net effect of foreign currency changes on cash | (3,014) | 1,494 |
| Net change in cash, cash equivalents and restricted cash | 32,168 | 43,620 |
| Cash, cash equivalents and restricted cash, beginning of period | 137,202 | 138,532 |
| Cash, cash equivalents and restricted cash, end of period | 169,370 | 182,152 |
| Less: Cash, cash equivalents and restricted cash of discontinued operations | — | 2,824 |
| Cash, cash equivalents and restricted cash, end of period | $169,370 | $179,328 |
| SUPPLEMENTAL CASH FLOW INFORMATION | ||
| (Gain) loss on divestitures from discontinued operations | $(70,195) | $17,655 |
| Purchase of property and equipment recorded in accounts payable and accrued expenses | $10,660 | $1,507 |
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