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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities      
Net income $ 152,611 $ 116,413 $ 48,508
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 16,296 5,411 3,249
Equity-based compensation 10,013 5,741 2,213
(Gain) loss on asset disposals (135) (94) 10
Change in fair value of warrant liability 0 0 (771)
Loss on extinguishment of debt 356 0 6,559
Non-cash interest expense, net 3,250 659 477
Deferred income tax provision 5,741 3,728 509
Change in fair value of contingent consideration 10,380 2,872 5,520
Loss on equity investments 1,228 0 0
(Increase) decrease in assets:      
Accounts receivable (3,711) (9,531) (3,185)
Inventories (167,183) 25,289 127,214
Prepaid expenses and other assets (34,357) (18,924) (7,984)
Other assets (1,940) (173) (5)
Increase (decrease) in liabilities:      
Accounts payable 6,424 (26) 7,235
Other payables and accrued expenses 4,140 4,010 10,528
Tax receivable agreement liability (67) 0 0
Customer deposits 4,401 24,048 12,400
Net cash provided by operating activities 7,447 159,423 212,477
Cash flows from investing activities      
Purchases of property and equipment (11,403) (9,896) (6,309)
Proceeds from disposal of property and equipment 345 233 1,637
Purchases of equity investments (2,000) 0 0
Cash used for additions to intangible assets (4,246) 0 0
Cash used in acquisitions (459,540) (107,467) 0
Net cash used in investing activities (476,844) (117,130) (4,672)
Cash flows from financing activities      
Net borrowings (payments) from floor plan 152,874 (23,497) (101,342)
Proceeds from long-term debt 412,492 30,000 129,306
Payments on long-term debt (88,033) (8,878) (121,800)
Payments of debt issuance costs (9,095) (701) (3,910)
Payments of debt extinguishment costs 0 0 (4,207)
Payments of initial public offering costs 0 0 (5,646)
Payments of September Offering costs 0 (540) 0
Payments of contingent consideration (371) 0 (1,456)
Distributions to redeemable preferred interest members 0 0 (90,503)
Proceeds from issuance of Class A common stock sold in initial public offering, net of underwriting discounts and commissions 0 0 59,234
Proceeds from issuance of Class A common stock sold in September Offering, net of underwriting discounts and commissions 0 0 8,075
Payments of tax withholdings for equity-based awards (1,628) (802) 0
Dividends and distributions 0 (27,070) 0
Distributions to members (9,482) (5,009) (18,895)
Repurchase and retirement of Class A common stock (354) 0 0
Net cash provided by (used in) financing activities 456,403 (36,497) (151,144)
Effect of exchange rate changes on cash and restricted cash (8) 0 0
Net change in cash (13,002) 5,796 56,661
Cash and restricted cash at beginning of period 73,949 68,153 11,492
Cash and restricted cash at end of period 60,947 73,949 68,153
Supplemental cash flow disclosures      
Cash paid for interest 14,598 6,251 17,212
Cash paid for income taxes 35,229 28,537 246
Noncash items      
Acquisition purchase price funded by seller notes payable 1,126 2,056 0
Acquisition purchase price funded by contingent consideration 15,321 9,200 0
Acquisition purchase price funded by issuance of Class A common stock 14,627 1,495 0
Accrued purchase consideration 0 1,889 0
Purchase of property and equipment funded by long-term debt 2,087 1,820 1,190
Dividends payable 0 1,035 0
Distributions payable 0 4,964 0
Offering costs, accrued not yet paid 0 0 430
Initial operating lease right-of-use-assets for adoption of Topic 842 $ 0 $ 71,823 $ 0