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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net income $ 23,486 $ 11,775
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 1,749 963
Equity-based awards 2,100 1,078
Gain on asset disposals (37) (102)
Non-cash interest expense, net 200 191
Deferred income tax provision 1,659 (94)
Loss on change in fair value of contingent consideration 5,746 0
(Increase) decrease in assets:    
Accounts receivable 240 4,089
Inventories (71,660) (40,576)
Prepaid expenses and other current assets 2,137 2,051
Deposits (14) (42)
Increase (decrease) in liabilities:    
Accounts payable 13,911 (2,799)
Other payables and accrued expenses (6,414) (9,920)
Tax receivable agreement liability 313 0
Customer deposits 3,759 4,771
Net cash used in operating activities (22,825) (28,615)
Cash flows from investing activities    
Purchases of property and equipment and construction in progress (3,428) (2,423)
Proceeds from disposal of property and equipment 6 91
Cash used in acquisitions (278,798) (77,631)
Net cash used in investing activities (282,220) (79,963)
Cash flows from financing activities    
Net borrowings from floor plan 81,403 42,269
Proceeds from long-term debt 240,000 30,000
Payments on long-term debt (5,507) (211)
Payments of debt issuance costs (3,979) (252)
Payments of September 2020 offering costs 0 (540)
Payments of tax withholdings for equity-based awards (468) 0
Distributions to members (5,584) (905)
Net cash provided by financing activities 305,865 70,361
Net change in cash 820 (38,217)
Cash and restricted cash at beginning of period 73,949 68,153
Cash and restricted cash at end of period 74,769 29,936
Supplemental cash flow disclosures    
Cash paid for interest 2,206 1,653
Cash paid for income taxes 702 6,613
Noncash items    
Acquisition purchase price funded by seller notes payable 1,126 2,056
Acquisition purchase price funded by contingent consideration 9,967 4,766
Accrued purchase consideration 5,353 3,719
Acquisition purchase price funded by issuance of Class A common stock 6,834 0
Purchase of property and equipment funded by long-term debt 231 833
Initial operating lease right-of-use assets for adoption of Topic 842 0 71,835
Right-of-use assets obtained in exchange for new operating lease liabilities 31,529 3,091
Distributions, declared not yet paid $ 0 $ 414