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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Operating activities              
Net income (loss) $ (29,351) $ (24,682) $ 8,056 $ (50,806) $ 3,490 $ (19,336)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:              
Depreciation and amortization 25,654   20,583   71,617 59,905  
Stock-based compensation         23,464 16,167  
Gain on lease termination         (154) (2,585)  
Long-lived asset impairment 617   1,944   1,237 12,355  
(Gain) loss on sale or disposal of assets 534   (5)   (104) 9,525  
Provision for losses on accounts receivable         1,796 412  
Noncash lease expense         44,566 42,475  
Accretion of original debt issuance discount         1,934 1,790  
Noncash interest         3,208 2,339  
Deferred income taxes         213,645 (560)  
Tax Receivable Agreement liability adjustment (149,172)   0   (149,172) 0  
Change in assets and liabilities, net of acquisitions:              
Receivables and contracts in transit         (57,016) (38,543)  
Inventories         (136,973) 270,061  
Prepaid expenses and other assets         (1,013) (8,683)  
Accounts payable and other accrued expenses         119,078 113,413  
Payment pursuant to Tax Receivable Agreement         0 (12,943)  
Deferred revenues         4,371 9,394  
Operating lease liabilities         (47,409) (48,428)  
Other, net         (1,329) 1,783  
Net cash provided by operating activities         95,236 408,541  
Investing activities              
Purchases of property and equipment         (84,130) (68,194)  
Proceeds from sale or disposal of property and equipment         3,650 3,820  
Purchases of real property         (122,842) (1,243)  
Proceeds from the sale or disposal of real property         53,769 48,434  
Purchases of businesses, net of cash acquired         (81,203) (62,323)  
Proceeds from divestiture of business         11,027 19,957  
Purchases of other investments         (6,668) 0  
Proceeds from other investments         326 0  
Purchases of intangible assets         0 (142)  
Proceeds from sale of intangible assets         0 2,595  
Net cash used in investing activities         (226,071) (57,096)  
Financing activities              
Proceeds from long-term debt         0 55,624  
Payments on long-term debt         (38,223) (66,763)  
Net proceeds (payments) on notes payable - floor plan, net         226,342 (317,519)  
Borrowings on revolving line of credit         0 43,000  
Payments on revolving line of credit         0 (32,000)  
Payments on finance leases         (5,540) (5,684)  
Payments on sale-leaseback arrangement         (151) (147)  
Payment of debt issuance costs         0 (876)  
Payments of stock offering costs         (572) 0  
Dividends on Class A common stock         (23,504) (16,940)  
Proceeds from exercise of stock options         0 549  
RSU shares withheld for tax         (2,940) (3,110)  
Distributions to holders of LLC common units         (2,486) (18,846)  
Net cash provided by (used in) financing activities         152,926 (362,712)  
Increase (decrease) in cash and cash equivalents         22,091 (11,267)  
Cash and cash equivalents at beginning of the period   $ 208,422   $ 39,647 208,422 39,647 $ 39,647
Cash and cash equivalents at end of the period $ 230,513   $ 28,380   $ 230,513 $ 28,380 $ 208,422