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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities      
Net income $ 48,508 $ 37,263 $ 1,946
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 3,249 2,682 1,685
Equity-based awards 2,213 154 154
Loss (gain) on asset disposals 10 1,371 (49)
Change in fair value of long-term warrant liability (771) (1,336) 33,187
Loss (gain) on extinguishment of debt 6,559 0 (209)
Non-cash interest expense 477 3,478 2,441
Deferred income tax provision 509 0 0
Loss (gain) on contingent consideration 5,520 (1,674) 0
(Increase) decrease in assets:      
Accounts receivable (3,185) (2,344) (4,743)
Inventories 127,214 (38,954) (39,858)
Prepaid expenses and other current assets (7,984) (5,565) 111
Deposits (5) 2 (49)
Increase (decrease) in liabilities:      
Accounts payable 7,235 (966) 11
Other payables and accrued expenses 10,528 614 1,605
Customer deposits 12,400 (450) (482)
Net cash provided by (used in) operating activities 212,477 (5,725) (4,250)
Cash flows from investing activities      
Purchases of property and equipment and construction in progress (6,309) (7,291) (10,135)
Proceeds from disposal of property and equipment 1,637 73 0
Proceeds from sale and leaseback 0 15,623 0
Cash used in acquisitions 0 (19,403) (13,785)
Net cash used in investing activities (4,672) (10,998) (23,920)
Cash flows from financing activities      
Net (payments) borrowings from floor plan (101,342) 24,401 35,421
Net payment to related party 0 0 (300)
Proceeds from long-term debt 129,306 13,801 7,046
Payments on long-term debt (121,800) (9,942) (3,899)
Payments of debt issuance costs (3,910) (203) (662)
Payments of debt extinguishment costs (4,207) 0 0
Payments of offering costs (5,646) (1,148) 0
Payments of preferred issuance costs 0 0 (93)
Payment of acquisition contingent consideration (1,456) 0 0
Distributions to redeemable preferred interest members and redemption of redeemable preferred interest (90,503) (3,364) 0
Proceeds from issuance of Class A common stock sold in initial public offering, net of underwriting discounts and commissions 59,234 0 0
Proceeds from issuance of Class A common stock sold in September offering, net of underwriting discounts and commissions 8,075 0 0
Distributions to members (18,895) (11,087) (3,256)
Net cash (used in) provided by financing activities (151,144) 12,458 34,257
Net change in cash 56,661 (4,265) 6,087
Cash and restricted cash at beginning of period 11,492 15,757 9,670
Cash and restricted cash at end of period 68,153 11,492 15,757
Supplemental cash flow disclosures      
Cash paid for interest 17,212 12,485 6,929
Cash paid for income taxes 246 0 0
Noncash items      
Acquisition purchase price funded by long-term debt 0 18,800 9,000
Acquisition purchase price funded by seller notes payable 0 10,438 3,042
Acquisition purchase price funded by contingent consideration 0 0 2,644
Purchase of property and equipment funded by long-term debt 1,190 1,067 0
Offering costs, accrued not yet paid $ 430 $ 1,500 $ 0