CBSTF · As filed with the SEC
Cannabist Co Holdings cash flow statement, by fiscal year
The statement as Cannabist Co Holdings presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
CONSOLIDATED STATEMENTS OF CASH FLOWS · USD thousands
| USD thousands | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | Year ended Dec 31, 2021 Year ended Dec 31, 2021 | FY2021 Year ended Dec 31, 2020 |
|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||
| Net loss | (105,126) | (174,287) | (421,481) | (146,853) | (119,649) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||||
| Depreciation and amortization | 48,978 | 62,729 | 84,788 | 53,002 | 19,651 |
| Equity-based compensation | (1,009) | 5,465 | 27,930 | 25,018 | 29,805 |
| Debt amortization expense | 9,397 | 9,352 | 8,588 | 6,068 | 2,189 |
| Loss on conversion of convertible notes | — | — | 0 | 1,580,000 | 0 |
| Provision for obsolete inventory and other assets | — | — | 11,267,000 | 2,356,000 | 0 |
| Loss on conversion of convertible notes | — | 0 | — | 1,580,000 | — |
| Provision for obsolete inventory and other assets | 5,682 | 8,143 | — | 2,356 | — |
| Goodwill impairment charges | 0 | 19,274 | 170,642 | 72,328 | 0 |
| Intangible impairment charges | 2,100 | 46,248 | 169,479 | 0 | 0 |
| Impairment on disposal group | — | 0 | 0 | 2,000,000 | 1,969,000 |
| Earnout adjustment | — | — | 349,000 | 0 | 0 |
| Impairment on fixed assets | 121 | 20,095 | — | 0 | — |
| (Gain) loss on disposal group | (30,164) | 6,122 | — | 0 | — |
| Earnout adjustment | 0 | 0 | — | 0 | — |
| (Gain) loss on remeasurement of contingent consideration | — | 0 | (37,362,000) | (59,362,000) | 21,757,000 |
| (Gain) on remeasurement of contingent consideration | 0 | — | — | — | — |
| Deferred taxes | (9,105) | (25,978) | (69,243) | (26,112) | (20,998) |
| Change in fair value of the derivative liability | — | — | (6,560,000) | (13,286,000) | 11,745,000 |
| Change in fair value of derivative liability | 502 | (116) | — | (13,286) | — |
| Change in investment fair value | 25,406 | — | — | — | — |
| Legal Settlement | (1,108) | — | — | — | — |
| Other | (959) | 5,433 | 747 | 1,314 | 3,858 |
| Changes in operating assets and liabilities, net of acquisitions | |||||
| Accounts receivable | (13,444) | (2,769) | 8,086 | (6,333) | (4,574) |
| Inventory | (14,408) | 6,700 | (44,301) | (18,033) | (17,258) |
| Prepaid expenses and other current assets | 1,968 | (853) | 889 | 28,445 | (2,747) |
| Notes receivable | 7,848 | — | — | — | — |
| Other assets | 205 | 10,590 | 15,030 | 15,331 | 13,490 |
| Accounts payable | 13,431 | 8,955 | (10,082) | 7,954 | 5,381 |
| Accrued expenses and other current liabilities | — | — | (11,514,000) | 64,765,000 | 15,945,000 |
| Accrued expenses and other current liabilities | (14,655) | (1,632) | — | 64,765 | — |
| Income taxes payable | 40,021 | 13,924 | 7,425 | 3,645 | 2,387 |
| Other long-term liabilities | 10,940 | (9,924) | (16,078) | (14,350) | (12,601) |
| Net cash (used) / provided by in operating activities | (23,379) | 7,471 | (111,401) | (523) | (49,650) |
| Cash flows from investing activities: | |||||
| Cash paid for acquisitions, net of cash acquired / Cash acquired due to acquisition | — | 0 | 29,000 | (50,762,000) | 3,821,000 |
| Cash paid for acquisitions, net of cash acquired / Cash acquired due to acquisition | 0 | — | — | — | — |
| Purchases of property and equipment | (5,831) | (9,966) | (72,741) | (117,506) | (42,885) |
| Cash paid for other assets | 0 | 0 | (2,973) | (15,792) | 0 |
| Proceeds from sale of property, net | — | 6,229,000 | 358,000 | 386,000 | 11,927,000 |
| Cash received (paid) on deposits, net | — | — | 0 | (7,019,000) | 988,000 |
| Proceeds from sale of property, net | 0 | — | — | — | — |
| Proceeds from sale of license | 329 | — | — | — | — |
| Cash received (paid) on deposits, net | (378) | 238 | — | (7,019) | — |
| Cash for loan under CannAscend and Corsa Verde agreements | — | 0 | 0 | (657,000) | (1,173,000) |
| Net proceeds from sale of business | 36,855 | — | — | — | — |
| Net cash provided by / (used) in investing activities | 30,975 | (3,499) | (75,327) | (191,350) | (27,322) |
| Cash flows from financing activities: | |||||
| Proceeds from issuance of debt and warrants | — | 0 | 153,250,000 | 71,520,000 | 89,379,000 |
| Proceeds from issuance of convertible debt | 15,600 | — | — | — | — |
| Proceeds from issuance of debt and warrants | 0 | — | — | — | — |
| Proceeds from mortgage note | 0 | 8,050 | 16,500 | 20,000 | 0 |
| Payment of debt issuance costs | (802) | (220) | (7,699) | (865) | (3,548) |
| Repayment of debt | (13,228) | (30,692) | (637) | (9,950) | 0 |
| Payment of lease liabilities | — | — | (5,815,000) | (9,664,000) | (734,000) |
| Repayment of acquisition related real estate notes and note payable | — | (5,109,000) | — | 0 | — |
| Repayment of acquisition related real estate notes and note payable | 0 | — | — | — | — |
| Repayment of sellers note | (1,500) | (1,500) | (1,875) | 0 | 0 |
| Repayment of mortgage notes | (578) | (580) | — | 0 | — |
| Payment of lease liabilities | (6,904) | (6,515) | — | (9,664) | — |
| Issuance of common shares | 0 | 25,000 | 0 | 133,559 | 0 |
| Costs of issuance of common shares | 0 | (1,128) | 0 | (364) | 0 |
| Exercise of warrants | 0 | 0 | 425 | 1,901 | 388 |
| Sale of membership interests of subsidiary | — | — | 0 | 0 | 5,509,000 |
| Purchase of non-controlling interest | — | — | 0 | 0 | (1,000,000) |
| Taxes paid on equity based compensation | — | — | (465,000) | (3,700,000) | 0 |
| Distributions to non-controlling interests | (333) | (960) | — | 0 | — |
| Taxes paid on equity based compensation | (1,258) | (470) | — | (3,700) | — |
| Net cash (used in) / provided by financing activities | (9,003) | (14,124) | 153,684 | 202,437 | 89,994 |
| Net (decrease)/increase in cash | (1,407) | (10,152) | (33,044) | 10,564 | 13,022 |
| Cash and restricted cash at beginning of the year | 39,337,000 | 49,489,000 | 82,533,000 | 71,969,000 | 58,947,000 |
| Cash and restricted cash at end of year | — | 39,337,000 | 49,489,000 | 82,533,000 | 71,969,000 |
| Cash and restricted cash at beginning of the year | 39,337 | 49,489 | — | — | — |
| Cash and restricted cash at end of year | 37,930 | — | — | — | — |
| Supplemental disclosure of cash flow information: | |||||
| Cash paid for interest on other obligations | 41,377 | 30,239 | 28,706 | 19,340 | 5,356 |
| Cash paid for income taxes | 5,530 | 10,203 | 51,435 | 22,556 | 7,694 |
| Supplemental disclosure of non-cash investing and financing activities: | |||||
| Non-cash fixed asset additions within accounts payable and accrued expenses | — | — | 12,512,000 | 14,826,000 | 13,084,000 |
| Issuance of warrants | — | — | 0 | 0 | 6,298,000 |
| Non-cash fixed asset additions within accounts payable and accrued expenses | — | (4,026,000) | — | 14,826,000 | — |
| Shares issued in connection with conversion of Convertible Notes into equity, net | — | 0 | 0 | 23,919,000 | 0 |
| Extinguishment of derivative liability upon conversion of Convertible Notes | — | — | 0 | 23,853,000 | 0 |
| Extinguishment of derivative liability upon conversion of Convertible Notes | — | 0 | — | 23,853,000 | — |
| Non-cash fixed asset additions within accounts payable and accrued expenses | (1,199) | — | — | — | — |
| Discount on issuance of convertible debt | 5,150 | — | — | — | — |
| Reduction in debt from debt to equity conversion | (10,300) | — | — | — | — |
| Increase in equity from debt to equity conversion | 10,300 | — | — | — | — |
| Equity issued for legal settlement | 2,620 | — | — | — | — |
| Debt incurred issued in connection with acquisition of property, plant and equipment | 0 | 8,050 | 0 | 7,000 | 0 |
| Derivative liability recognized upon issuance of convertible debt | — | — | 0 | 15,099,000 | 5,364,000 |
| Shares issued in connection with finalization of working capital on acquisition | — | — | 0 | 228,000 | 0 |
| Derivative liability recognized upon issuance of convertible debt | 2,362 | 0 | — | 15,099 | — |
| Shares issued in connection with finalization of working capital on acquisition | — | 0 | — | 228,000 | — |
| Shares issued in connection with satisfaction of contingent consideration | — | 0 | 0 | 48,202 | 0 |
| Intercompany note receivable with TGS assumed in connection with acquisition | — | — | 0 | 0 | 16,855,000 |
| Buyout of non-controlling interest by issuance of shares | — | — | 0 | 1,959,000 | 0 |
| Deconsolidation of subsidiary | — | — | 0 | 0 | 220,000 |
| Reclass of deferred compensation to equity | — | — | 0 | 0 | 0 |
| Conversion of convertible debt and accrued interest to equity | — | — | 0 | 0 | 0 |
| Assets held for sale | — | — | 29,089,000 | 2,120,000 | 3,483,000 |
| Liabilities held for sale | — | — | (20,179,000) | (1,122,000) | (1,483,000) |
| Buyout of non-controlling interest by issuance of shares | — | 0 | — | 1,959,000 | — |
| Deconsolidation of subsidiary | — | 2,473,000 | — | 0 | — |
| Deconsolidation of subsidiary | (605) | — | — | — | — |
| Assets held for sale | 16,026 | (27,337) | — | 2,120 | — |
| Liabilities held for sale | 1,381 | 18,904 | — | (1,122) | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.