XML 18 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (30,490) $ 23,174
Loss from discontinued operations (951) (57)
Income (loss) from continuing operations, net (29,539) 23,231
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 9,996 10,285
Amortization of debt discount 4,764 3,523
Stock based compensation expense 7,821 4,632
Gain from change in value of derivatives 0 (39)
Deferred taxes (6,488) 4,023
Originations of loan receivables, net of principal payments received 2,623 (12,973)
Write-down of loan receivable assets 6,156 0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (9,362) 3,052
Inventory 3,103 (26,820)
Prepaid expenses and other current assets 97 (511)
Other assets 213 (19,112)
Other liabilities 4,001 (3,807)
Accounts payable and accrued liabilities 1,377 15,329
Floor plan trade note borrowings (1,056) 28,140
Net cash provided by (used in) operating activities of continuing operations (6,294) 28,953
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisitions, net of cash received (3,300) (64,188)
Purchase of property and equipment (6,004) (1,464)
Technology development (1,066) (3,462)
Net cash used in investing activities of continuing operations (10,370) (69,114)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from new secured debt 0 84,500
Proceeds from ROF credit facility for the purchase of consumer finance loans 0 13,650
Repayment of debt and line of credit (8,371) (32,791)
Repayment of note payables 0 (2,091)
Increase in borrowings from non-trade floor plans 25,192 1,548
Net cash provided by financing activities of continuing operations 16,821 64,816
CASH FLOWS FROM DISCONTINUED OPERATIONS    
Net cash provided by operating activities 3,667 7,371
Net cash used in financing activities (5,254) (6,318)
Net cash provided by (used in) discontinued operations (1,587) 1,053
NET INCREASE (DECREASE) IN CASH (1,430) 25,708
Cash and restricted cash at beginning of period 58,579 51,974
Cash and restricted cash at end of period $ 57,149 $ 77,682