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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income $ 42,367 $ 1,912
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,341 1,551
Equity-based awards 2,205 818
(Gain) loss on asset disposals (136) 90
Change in fair value of long-term warrant liability 0 (771)
Non-cash interest expense 393 3,307
Deferred income tax provision 1,787 0
Payment of acquisition contingent consideration (5,520) 0
(Increase) decrease in assets:    
Accounts receivable (22,417) (4,547)
Inventories (30,551) (56,039)
Prepaid expenses and other current assets 997 (4,495)
Deposits (128) (19)
Increase (decrease) in liabilities:    
Accounts payable 12,971 2,273
Other payables and accrued expenses 5,480 251
Customer deposits 20,792 8,589
Net cash provided by (used in) operating activities 30,581 (47,080)
Cash flows from investing activities    
Purchases of property and equipment and construction in progress (5,126) (3,392)
Proceeds from disposal of property and equipment 118 1,574
Cash used in acquisitions (85,499) 0
Net cash used in investing activities (90,507) (1,818)
Cash flows from financing activities    
Net borrowings from floor plan 55,751 68,886
Proceeds from long-term debt 30,000 35,155
Payments on long-term debt (3,334) (4,155)
Payments of debt issuance costs (653) (791)
Payments of initial public offering costs 0 (3,789)
Payments of september offering costs (540) 0
Payment of acquisition contingent consideration 0 (1,457)
Distributions to redeemable preferred interest members 0 (90,503)
Proceeds from issuance of Class A common stock sold in initial public offering, net of underwriting discounts and commissions 0 59,234
Payments of tax withholdings for equity-based awards (449) 0
Distributions to members (1,520) (4,206)
Net cash provided by financing activities 79,255 58,374
Net change in cash 19,329 9,476
Cash and restricted cash at beginning of period 68,153 11,492
Cash and restricted cash at end of period 87,482 20,968
Supplemental cash flow disclosures    
Cash paid for interest 2,996 6,187
Cash paid for income taxes 7,480 0
Noncash items    
Acquisition purchase price funded by seller notes payable 2,056 0
Acquisition purchase price funded by contingent consideration 5,482 0
Purchase of property and equipment funded by long-term debt 1,280 625
Offering costs, accrued not yet paid $ 0 $ 600