Holley Inc.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Net income (loss) $561k ($221k) ($27.1m) $73.8m $19.2m ($23.2m) $19.2m
Depreciation $8.8m $7.9m $11.5m $10.1m $10.3m $10.6m $9.7m
Amortization of intangible assets $10.5m $11.1m $14.0m $14.7m $14.6m $13.9m $13.8m
Amortization of deferred loan costs $3.1m $3.1m $3.2m $1.7m $1.8m $1.8m $1.7m
Amortization of right of use assets $0 $0 $5.7m $5.5m $5.2m $5.4m
Change in deferred taxes ($11.5m) $6.8m ($66k) ($11.7m) ($4.8m) ($16.2m) $9.1m
Impairment of indefinite-lived intangible assets $0 $0 $2.4m $0 $7.7m $0
Impairment of goodwill $0 $0 $40.9m $0
Loss (gain) on early extinguishment of long-term debt $0 $13.7m $0 ($701k) $141k $93k
Loss (gain) on disposal of property, plant and equipment $833k $943k ($82k) $253k ($192k) ($568k) $722k
Fair value adjustments to warrant liability $0 $32.6m ($57.0m) $4.1m ($7.6m) $1.2m
Fair value adjustments to earn-out liability $0 $8.9m ($10.7m) $2.3m ($2.3m) $897k
Fair value adjustments to interest rate collar $0 $0 $1.2m ($1.1m) $3.4m
Equity compensation $437k $487k $5.0m $24.4m $7.3m $5.2m $8.2m
Loss on sale of assets $0 $0 $1.0m $0 $9.2m $0
Provision for inventory reserves $3.0m $4.2m $13.4m $1.8m $11.1m $4.2m
Provision for credit losses $1.6m $147k $878k $1.0m $1.3m $362k
Accounts receivable $2.1m ($11.3m) $464k $3.8m ($2.3m) $10.8m ($21.4m)
Inventories ($7.1m) $22.0m ($45.1m) ($58.4m) $38.2m ($16.6m) ($17.1m)
Prepaids and other current assets ($378k) $1.9m ($13.4m) $1.1m $2.6m $3.0m ($6.2m)
Accounts payable $181k $8.4m $8.7m ($740k) ($1.6m) $1.2m $12.9m
Accrued interest ($2.5m) $737k ($3.2m) $2.6m ($5.5m) ($455k) $115k
Accrued and other liabilities $1.4m $179k $8.2m ($4.7m) ($6.5m) ($7.1m) $105k
Acquisition of license agreement ($50k) $0 $0 $0 ($20.2m)
Proceeds from the disposal of fixed assets $698k $364k $888k $1.5m $1.7m $322k
Proceeds from sale of business $0 $0 $2.0m $0 $7.1m $0
Deferred financing fees ($4.7m) ($13.4m) $0 ($1.4m) ($679k) $343k
Payments from stock-based award activities $0 $0 ($1.1m) ($1.5m) ($1.5m) ($847k)
Borrowings under revolving credit facility $0 $10.0m
Repayment of borrowings under revolving credit facility $0 ($10.0m)
Effect of foreign currency rate fluctuations on cash $0 $0 ($300k) $300k $691k ($235k)
Beginning of period $11.0m $8.3m $71.7m $26.1m $41.1m $56.1m $37.2m
Property and equipment additions included in accounts payable ($7.4m) ($9.4m) ($15.2m) $0 $0 $1.1m $5.9m
Net cash provided by operating activities $9.4m ($474k) $21.6m $12.3m $88.1m $46.9m $46.2m
Capital expenditures ($7.4m) ($9.4m) ($15.2m) ($13.6m) ($5.9m) ($6.8m) ($12.3m)
Net cash (used in) provided by investing activities ($14.5m) ($250.0m) ($134.1m) ($25.0m) ($4.5m) $2.0m ($32.2m)
Principal payments on long-term debt ($3.8m) ($4.1m) ($687.5m) ($33.5m) ($66.0m) ($32.4m) ($32.1m)
Net cash used in financing activities $2.4m $251.6m $77.2m $2.9m ($69.0m) ($34.6m) ($32.6m)
Net change in cash and cash equivalents ($2.6m) $63.3m ($35.3m) ($10.2m) $14.9m $15.0m ($18.9m)
Cash paid for interest $49.8m $39.9m $38.1m $36.9m $64.7m $52.2m $46.6m
Income Taxes Paid, Net $4.4m $3.2m $10.6m $6.8m $16.0m $11.1m $10.4m