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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 93,923 $ 42,534
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 3,816 2,375
Equity-based awards 3,351 1,598
(Gain) loss on asset disposals (196) 60
Change in fair value of long-term warrant liability 0 (771)
Non-cash interest expense 503 6,178
Deferred income tax provision 2,338 0
Payment of acquisition contingent consideration (5,520) 0
(Increase) decrease in assets:    
Accounts receivable (19,031) (42,145)
Inventories 47,146 106,038
Prepaid expenses and other current assets (16,892) (3,557)
Deposits (152) (11)
Increase (decrease) in liabilities:    
Accounts payable 11,124 19,608
Other payables and accrued expenses 11,307 12,718
Customer deposits 21,478 7,971
Net cash provided by operating activities 153,195 152,596
Cash flows from investing activities    
Purchases of property and equipment and construction in progress (7,802) (3,923)
Proceeds from disposal of property and equipment 168 1,616
Cash used in acquisitions (83,486) 0
Net cash used in investing activities (91,120) (2,307)
Cash flows from financing activities    
Net borrowings from floor plan (27,455) (49,316)
Proceeds from long-term debt 30,000 49,307
Payments on long-term debt (7,237) (19,380)
Payments of debt issuance costs (701) (1,762)
Payments of initial public offering costs 0 (5,217)
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 (3,160) (11,618)
Net cash used in financing activities (9,542) (70,712)
Net change in cash 52,533 79,577
Cash and restricted cash at beginning of period 68,153 11,492
Cash and restricted cash at end of period 120,686 91,069
Supplemental cash flow disclosures    
Cash paid for interest 4,925 8,696
Cash paid for income taxes 13,993 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 1,693 1,046
Dividends and distributions payable 27,789 0
Distributions to members payable $ 610 $ 0