← DLH Holdings Corp.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — $23.3m $1.5m $7.4m $1.4m
Net Income (Loss) Available to Common Stockholders, Basic $3.4m $3.3m $1.8m $5.3m $7.1m $10.1m $23.3m $1.5m $7.4m $1.4m
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $3.4m $3.3m $1.8m $5.3m $7.1m $10.1m $23.3m $1.5m $7.4m $1.4m
Depreciation, Depletion and Amortization $1.2m $1.8m $2.2m $4.0m $7.0m $8.1m $7.7m $15.6m $17.1m $17.2m
Amortization of Debt Issuance Costs $289k $268k $275k $982k $721k $792k $664k $2.2m $1.8m $1.7m
Amortization of Intangible Assets $1.0m $1.8m $1.8m $2.7m $4.8m $6.6m $6.6m $14.8m $16.5m $16.5m
Depreciation $1.2m $1.7m $2.2m $1.2m $2.2m $1.5m $1.1m $800k $600k $700k
Amortization of deferred financing costs charged to interest expense $289k $268k $275k $982k $721k $792k $664k $2.2m $1.8m $1.7m
Depreciation Amortization Depletion — — — — — — $7.7m $15.6m $17.1m $17.2m
Deferred Income Tax Expense (Benefit) ($1.1m) $1.8m $5.5m $1.8m $2.3m $1.2m $424k ($4.5m) ($3.2m) ($1.7m)
Deferred taxes, net ($1.1m) $1.8m $5.5m $1.8m $2.3m $1.2m $358k ($4.6m) ($3.2m) ($1.7m)
Deferred Income Tax — — — — — — $358k ($4.6m) ($3.2m) ($1.7m)
Deferred Tax — — — — — — $358k ($4.6m) ($3.2m) ($1.7m)
Share-based Payment Arrangement, Noncash Expense — — — — — — — $1.9m $1.9m $1.5m
Payment, Tax Withholding, Share-based Payment Arrangement — — — — — — — $650k $1.9m $0
Share-based Payment Arrangement, Expense $466k $662k $1.4m — — — — $1.9m $1.9m $1.5m
Goodwill, Impairment Loss — $0 $0 $0 $0 $0 $0 $0 $0 $0
Operating Lease, Impairment Loss — — — — — — — $7.7m $0 —
Asset Impairment Charge — — — — — — $0 $7.7m $0 —
Gain (Loss) on Disposition of Property Plant Equipment ($3k) ($31k) $0 — — — — — — —
Income Tax Expense (Benefit) ($938k) $2.1m $5.8m $2.2m $2.9m $3.3m $7.8m ($641k) $350k $393k
Interest Expense Nonoperating — — — — — — — — $15.4m $13.4m
Operating Lease, Expense — — — — $4.2m $3.7m $3.5m — — —
Other Nonoperating Income (Expense) ($80k) $25k ($41k) $21k $121k $0 — — — —
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable $3.4m $5.3m ($1.6m) ($617k) $5.4m $906k $7.0m ($6.8m) ($9.3m) ($11.5m)
Gain (Loss) on Termination of Lease — — — — $121k $0 — — — —
General and Administrative Expense $12.5m $17.5m $19.2m $20.5m $24.2m $25.1m $30.7m $37.8m $37.0m $31.2m
Goodwill $34.7m $26.0m $26.0m $52.8m $67.1m $65.6m $65.6m $138.2m $138.2m $138.2m
Investment Income, Interest — — — — — — — $64k $38k $71k
Nonoperating Income (Expense) ($1.6m) ($1.2m) ($1.1m) ($2.5m) ($3.4m) ($3.8m) ($2.2m) ($16.3m) ($17.2m) ($15.0m)
Operating Costs and Expenses — — — — $195.7m $228.9m $361.9m $358.8m $371.0m $327.7m
Operating Expenses — — — $150.4m — — — — — —
Payments of Financing Costs — $0 $65k $3.5m $898k $43k $0 $7.7m $0 $202k
Proceeds from Stock Options Exercised — $129k $46k $39k $55k $366k $837k $1.1m $261k $0
Revenue from Contract with Customer, Including Assessed Tax — — $133.2m $160.4m $209.2m $246.1m $395.2m $375.9m $395.9m $344.5m
Stock or Unit Option Plan Expense $465k $662k $1.4m $790k $910k $1.7m $2.6m — — —
Stock-based compensation expense — — — — — $1.7m $2.6m $1.9m $1.9m $1.5m
Accounts receivable ($3.4m) ($5.3m) $1.6m $617k ($5.4m) ($906k) ($7.0m) $6.8m $9.3m $11.5m
Other assets $0 ($56k) ($162k) ($57k) ($1.6m) ($766k) $1.4m $1.8m $3.3m ($3.2m)
Accounts payable and accrued liabilities $5.1m $3.9m $1.3m $5.3m $7.2m $4.1m ($5.9m) ($75k) ($4.4m) ($6.0m)
Accrued payroll — — $1.3m $178k $489k ($1.5m) $319k ($3.5m) ($946k) ($697k)
Other liabilities $94k $58k $64k ($805k) $839k $486k $131k $1.8m ($4.8m) $1.6m
Purchase of equipment and improvements $0 ($1.1m) ($654k) ($405k) ($152k) ($103k) ($872k) ($625k) ($836k) ($241k)
Proceeds from revolving line of credit — — — — — — $0 $205.3m $361.7m $253.2m
Repayment of revolving line of credit — — — — — — $0 ($195.7m) ($359.2m) ($257.2m)
Payments of deferred financing costs — $0 ($65k) ($3.5m) ($898k) ($43k) $0 ($7.7m) $0 ($202k)
Payment of tax obligations resulting from net exercise of stock options — — — — — $0 ($281k) ($650k) ($1.9m) $0
Net change in cash — — — ($4.6m) ($433k) $22.7m ($23.8m) ($13k) $127k ($217k)
Cash - beginning of year — — — $1.8m $1.4m $24.1m $228k $215k $342k $125k
Common stock surrendered for the exercise of stock options — — — — — $0 $256k $238k $2.8m $0
Lease liability recognized to acquire a right-of-use asset — — — — — — — — $839k $4.2m
Beginning Cash Position — — — — — — $24.1m $228k $215k $342k
Cash Flow From Continuing Financing Activities — — — — — — ($24.2m) $150.2m ($26.4m) ($23.2m)
Cash Flow From Continuing Investing Activities — — — — — — ($872k) ($181.2m) ($836k) ($241k)
Change In Account Payable — — — — — — ($5.9m) ($75k) ($4.4m) ($6.0m)
Change In Accrued Expense — — — — — — $319k ($3.5m) ($946k) ($697k)
Change In Other Current Assets — — — — — — $1.4m $1.8m $3.3m ($3.2m)
Change In Other Current Liabilities — — — — — — — $1.8m ($4.8m) $1.6m
Change In Other Working Capital — — — — — $22.8m ($22.1m) $1.8m — —
Change In Payable — — — — — — ($5.9m) ($75k) ($4.4m) ($6.0m)
Change In Payables And Accrued Expense — — — — — — ($5.5m) ($3.6m) ($5.4m) ($6.7m)
Change In Receivables — — — — — — ($7.0m) $6.8m $9.3m $11.5m
Change In Working Capital — — — — — — ($33.3m) $6.8m $2.4m $3.2m
Changes In Account Receivables — — — — — — ($7.0m) $6.8m $9.3m $11.5m
Changes In Cash — — — — — — ($23.8m) ($13k) $127k ($217k)
End Cash Position — — — — — — $228k $215k $342k $125k
Financing Cash Flow — — — — — — ($24.2m) $150.2m ($26.4m) ($23.2m)
Free Cash Flow — — — — — — $371k $30.4m $26.5m $23.0m
Investing Cash Flow — — — — — — ($872k) ($181.2m) ($836k) ($241k)
Net Business Purchase And Sale — — — — — $59k $0 ($180.6m) $0 —
Net PPE Purchase And Sale — — — — — — ($872k) ($625k) ($836k) ($241k)
Other Non Cash Items — — — — — — $664k $2.2m $1.8m $1.7m
Proceeds From Stock Option Exercised — — — — — — $837k $1.1m $261k $0
Purchase Of Business — — — — — — $0 ($180.6m) $0 —
Purchase Of PPE $498k $1.1m $654k $405k $152k $103k ($872k) ($625k) ($836k) ($241k)
Sale Of Business — — — — — $59k $0 — — —
Stock Based Compensation — — — — — — $2.6m $1.9m $1.9m $1.5m
Net Cash Provided by (Used in) Operating Activities $6.0m $6.5m $14.1m $18.0m $19.5m $45.7m $1.2m $31.0m $27.4m $23.2m
Cash flows from investing activities:
Payments to Acquire Businesses, Net of Cash Acquired $32.2m $250k $0 $67.1m $32.7m ($59k) $0 $180.6m $0 —
Net Cash Provided by (Used in) Investing Activities ($32.7m) ($1.3m) ($654k) ($67.5m) ($32.8m) ($44k) ($872k) ($181.2m) ($836k) ($241k)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt — — — $70.0m $33.0m $0 $17.0m $168.0m $0 —
Issuance Of Debt — — — — — — $17.0m $373.3m $361.7m $253.2m
Long Term Debt Issuance — — — — — — $17.0m $373.3m $361.7m $253.2m
Net Issuance Payments Of Debt — — — — — — ($24.8m) $157.4m ($24.8m) ($23.0m)
Net Long Term Debt Issuance — — — — — — ($24.8m) $157.4m ($24.8m) ($23.0m)
Net Short Term Debt Issuance — — — — — — $0 $9.5m — —
Short Term Debt Issuance — — — — — — $0 $205.3m — —
Repayments of Long-term Debt — — — $21.7m $19.0m $23.2m $41.8m $20.2m $27.3m $19.0m
Repayments of debt obligations — — ($12.0m) ($21.7m) ($19.0m) ($23.2m) ($41.8m) ($20.2m) ($27.3m) ($19.0m)
Long Term Debt Payments — — — — — — ($41.8m) ($215.9m) ($386.5m) ($276.2m)
Repayment Of Debt — — — — — — ($41.8m) ($215.9m) ($386.5m) ($276.2m)
Short Term Debt Payments — — — — — — $0 ($195.7m) — —
Proceeds from Issuance of Common Stock — $0 — — — $366k $837k $1.1m $261k $0
Proceeds from issuance of common stock upon exercise of options and warrants — — — — — $366k $837k $1.1m $261k $0
Payments for Repurchase of Common Stock — — — — $211k $0 — — — —
Net Other Financing Charges — — — — — — ($281k) ($8.3m) ($1.9m) ($202k)
Net Cash Provided by (Used in) Financing Activities $24.6m ($3.7m) ($12.0m) $44.9m $12.9m ($22.9m) ($24.2m) $150.2m ($26.4m) ($23.2m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — — — ($433k) $22.7m ($23.8m) ($13k) $127k ($217k)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — — $1.4m $24.1m $228k $215k $342k $125k
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — ($23.8m) ($13k) $127k ($217k)
Interest Paid, Excluding Capitalized Interest, Operating Activities $454k $883k $800k $1.5m $2.8m $2.9m $1.5m $14.2m $16.0m $13.5m
Cash paid during the year for income taxes $124k $337k $876k $543k $917k $936k $9.3m $5.6m $3.3m $2.1m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.