XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Jun. 30, 2019
Dec. 31, 2018
Jun. 30, 2020
Jun. 30, 2019
Sep. 30, 2019
Cash flows from operating activities              
Net income $ 40,622 $ (1,067) $ 32,680 $ 2,510 $ 42,534 $ 32,239  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:              
Depreciation and amortization 824       2,375 1,883  
Equity-based awards         1,598 116  
Loss on asset disposals         60 47  
Change in fair value of long-term warrant liability 0       (771) (2,773)  
Non-cash interest expense         6,178 2,404  
Non-cash gain on settlement of contingent consideration         0 (1,674)  
(Increase) decrease in assets:              
Accounts receivable         (42,145) (19,939)  
Inventories         106,038 (43,191)  
Prepaid expenses and other current assets         (3,557) (987)  
Deposits         (11) 15  
Increase (decrease) in liabilities:              
Accounts payable         19,608 4,921  
Other payables and accrued expenses         12,718 4,014  
Customer deposits         7,971 (99)  
Net cash provided by (used in) operating activities         152,596 (23,024)  
Cash flows from investing activities              
Purchases of property and equipment and construction in progress         (3,923) (5,913)  
Proceeds from disposal of property and equipment         1,616 70  
Cash used in acquisitions         0 (2,146)  
Net cash used in investing activities         (2,307) (7,989)  
Cash flows from financing activities              
Net (payments) borrowings from floor plan         (49,316) 49,263  
Proceeds from long-term debt         49,307 12,070  
Payments on long-term debt         (19,380) (7,022)  
Payments of debt issuance costs         (1,762) (203)  
Payments of offering costs         (5,217) 0  
Payment of acquisition contingent consideration         (1,457) 0  
Distributions to redeemable preferred interest members and redemption of redeemable preferred interest         (90,503) (2,531)  
Proceeds from issuance of Class A common stock sold in initial public offering, net of underwriting discounts and commissions         59,234 0  
Distributions to members         (11,618) (9,887)  
Net cash (used in) provided by financing activities         (70,712) 41,690  
Net change in cash         79,577 10,677  
Cash and restricted cash at beginning of period   $ 11,492   $ 15,757 11,492 15,757 $ 15,757
Cash and restricted cash at end of period $ 91,069   $ 26,434   91,069 26,434 $ 11,492
Supplemental cash flow disclosures              
Cash paid for interest         8,696 8,717  
Noncash items              
Acquisition purchase price funded by long-term debt         0 18,800  
Acquisition purchase price funded by seller notes payable         0 8,274  
Purchase of property and equipment funded by long-term debt         $ 1,046 $ 1,040