← Limbach Holdings, Inc.

Annual Trend FY 2015 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 — — — — — — $6.8m $20.8m $30.9m $39.1m
Net Income (Loss) Attributable to Parent ($340k) $712k ($1.8m) ($1.8m) $5.8m $6.7m $6.8m $20.8m $30.9m $39.1m
Net Income (Loss) Available to Common Stockholders, Basic ($340k) ($944k) ($4.0m) ($1.8m) $5.8m $6.7m $6.8m $20.8m $30.9m $39.1m
Depreciation, Depletion and Amortization $2.6m $9.1m $5.7m $6.3m $6.2m $5.9m $8.2m $8.2m $11.9m $18.1m
Amortization of Debt Issuance Costs $0 $181k $373k — — — $138k $79k $43k $54k
Amortization of Debt Issuance Costs and Discounts $0 $181k $373k $1.4m $2.2m $280k $138k $79k $43k $54k
Amortization of Intangible Assets — $3.6m $1.3m $642k $630k $484k $1.6m $1.9m $4.7m $8.4m
Depreciation $2.6m $9.1m $4.4m $5.6m $5.5m $5.5m $6.6m $6.4m $7.2m $9.8m
Amortization Cash Flow — — — — — — $1.6m $1.9m $4.7m $8.4m
Amortization Of Intangibles — — — — — — $1.6m $1.9m $4.7m $8.4m
Depreciation Amortization Depletion — — — — — — $8.2m $8.2m $11.9m $18.1m
Deferred Income Tax Expense (Benefit) $0 $603k ($745k) ($609k) ($1.3m) $1.8m ($499k) ($350k) ($352k) $2.6m
Deferred Income Tax — — — — — — ($499k) ($350k) ($352k) $2.6m
Deferred Tax — — — — — — ($499k) ($350k) ($352k) $2.6m
Deferred income tax provision $0 $603k ($745k) ($609k) ($1.3m) $1.8m ($499k) ($350k) ($352k) $2.6m
Share-based Payment Arrangement, Noncash Expense — $1.7m $2.2m $1.8m $1.1m $2.6m $2.7m $4.9m $5.8m $7.0m
Payment, Tax Withholding, Share-based Payment Arrangement — $104k $211k $131k $216k $459k $417k $847k $5.2m $10.7m
Share-based Payment Arrangement, Expense — — — — — $2.6m — — — —
Goodwill, Impairment Loss — — — $4.4m $0 — — — — —
Impairment of Intangible Assets (Excluding Goodwill) — — — $0 $0 $0 $0 $0 $0 $0
Equity Method Investment, Realized Gain (Loss) on Disposal $2k — — — — — — — — —
Gain (Loss) on Disposition of Property Plant Equipment $73k ($121k) $90k $57k $95k $2k $281k $80k $950k $1.7m
Gain (Loss) on Extinguishment of Debt $0 $0 ($335k) ($513k) $0 ($2.0m) $0 ($311k) $0 $0
Income Tax Expense (Benefit) — $3.2m ($635k) ($282k) $1.2m $2.8m $2.8m $7.3m $9.1m $9.6m
Interest Expense Nonoperating — — — — — — — — $1.9m $3.1m
Other Nonoperating Income (Expense) — — — — — — — — $1.3m ($825k)
Loss on early debt extinguishment $0 $0 $335k $513k $0 $2.0m $0 $311k $0 $0
Operating lease liabilities — — — ($3.7m) ($4.3m) ($4.1m) ($4.1m) ($3.8m) ($2.2m) ($4.0m)
Right of use assets obtained in exchange for new operating lease liabilities — — — $3.4m $1.1m $5.4m $0 $3.1m $4.8m $2.4m
Right of use assets disposed or adjusted modifying operating leases liabilities — — — $1.7m $621k $219k $2.5m $1.1m $1.3m $0
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable — $15.6m $6.4m ($659k) ($19.2m) ($3.4m) $35.4m ($32.6m) $11.3m ($4.5m)
Increase (Decrease) in Accounts Payable — — — $11.9m ($19.5m) ($5.6m) $11.3m ($10.9m) ($10.3m) $5.3m
Gain (Loss) on Sale of Derivatives — — — $388k $0 — — — — —
Gain (Loss) on Termination of Lease — — — — — — ($849k) $0 $0 —
General and Administrative Expense $391k — — — — — — — — —
Goodwill — $10.5m $10.5m $6.1m $6.1m $11.4m $11.4m $16.4m $33.0m $70.6m
Investment Income, Interest — — — — — — — $1.2m $2.2m $815k
Nonoperating Income (Expense) — ($2.2m) ($3.5m) ($10.1m) — — ($2.4m) ($1.2m) $1.3m ($825k)
Operating Expenses $0 $59.6m $58.4m $63.8m $64.2m $71.9m $81.7m $90.0m $105.7m $119.9m
Unrealized Gain (Loss) on Derivatives — — — — — — $310k ($124k) $34k ($191k)
Operating Cash Flow $606k ($4.1m) $25.3m ($926k) $39.8m ($24.2m) $35.4m $57.4m $36.8m $45.7m
Cash Flow From Continuing Operating Activities $606k ($4.1m) $25.3m ($926k) $39.8m ($24.2m) $35.4m $57.4m $36.8m $45.7m
Beginning Cash Position — — — — — — $14.6m $36.1m $59.9m $45.0m
Cash Flow From Continuing Financing Activities — — — — — — ($13.4m) ($16.5m) ($9.1m) ($11.7m)
Cash Flow From Continuing Investing Activities — — — — — — ($495k) ($17.1m) ($42.6m) ($67.6m)
Change In Account Payable — — — — — — $11.3m ($10.9m) ($10.3m) $5.3m
Change In Accrued Expense — — — — — — ($2.9m) $2.9m $3.1m ($8.9m)
Change In Income Tax Payable — — — — — — $1.4m ($1.4m) $1.0m ($318k)
Change In Other Current Assets — — — — — — $1.1m ($1.5m) ($499k) $3.2m
Change In Other Current Liabilities — — — — — — ($4.2m) ($3.4m) ($4.0m) ($3.6m)
Change In Other Working Capital — — — — — — $17.3m $1.3m $5.6m ($24.8m)
Change In Payable — — — — — — $12.7m ($12.4m) ($9.3m) $5.0m
Change In Payables And Accrued Expense — — — — — — $9.7m ($9.5m) ($6.2m) ($3.9m)
Change In Receivables — — — — — — ($13.0m) $32.7m ($11.3m) $4.5m
Change In Tax Payable — — — — — — $1.4m ($1.4m) $1.0m ($318k)
Change In Working Capital — — — — — — $10.9m $19.6m ($16.4m) ($24.6m)
Changes In Account Receivables — — — — — — ($35.4m) $32.6m ($11.3m) $4.5m
Changes In Cash — — — — — — $21.5m $23.8m ($14.9m) ($33.6m)
End Cash Position — — — — — — $36.1m $59.9m $45.0m $11.4m
Financing Cash Flow — — — — — — ($13.4m) ($16.5m) ($9.1m) ($11.7m)
Free Cash Flow — — — — — — $34.4m $55.1m $29.3m $41.9m
Gain Loss On Investment Securities — — — — — — ($310k) $124k ($34k) $191k
Gain Loss On Sale Of PPE — — — — — — ($281k) ($80k) ($950k) ($1.7m)
Investing Cash Flow — — — — — — ($495k) ($17.1m) ($42.6m) ($67.6m)
Issuance Of Capital Stock — — — — — — $0 $0 $0 $6.3m
Net Business Purchase And Sale — — — — — — $0 ($15.3m) ($36.6m) ($65.7m)
Net PPE Purchase And Sale — — — — — — ($495k) ($1.8m) ($6.0m) ($1.9m)
Operating Gains Losses — — — — — — ($591k) $355k ($984k) ($1.5m)
Other Non Cash Items — — — — — — $7.5m $3.4m $5.8m $4.6m
Proceeds From Stock Option Exercised — — — — — — $309k $368k $440k $653k
Provisionand Write Offof Assets — — — — — — $292k $431k $201k $404k
Purchase Of Business — — — — — — $0 ($15.3m) ($36.6m) ($65.7m)
Purchase Of PPE — — — — — — ($993k) ($2.3m) ($7.5m) ($3.8m)
Repurchase Of Capital Stock — — — — — $0 ($2.0m) $0 $0 —
Sale Of PPE — — — — — — $498k $435k $1.5m $1.9m
Stock Based Compensation — — — — — — $2.7m $4.9m $5.8m $7.0m
Provision for credit losses ($41k) $259k $64k $95k $100k $198k $292k $431k $201k $404k
Non-cash stock-based compensation expense $0 $1.7m $2.2m $1.8m $1.1m $2.6m $2.7m $4.9m $5.8m $7.0m
Loss (gain) on change in fair value of interest rate swap — — — — — $0 ($310k) $124k ($34k) $191k
Acquisition-related retention expense and contingent consideration — — — — — $0 $2.3m $729k $3.8m $2.0m
Accounts receivable ($11.5m) ($15.6m) ($6.4m) $659k $19.2m $3.4m ($35.4m) $32.6m ($11.3m) $4.5m
Contract assets and contract liabilities, net — — — — — — — $1.3m $5.6m ($24.8m)
Other current assets ($50k) $698k ($31.2m) $30.1m ($115k) ($555k) $1.1m ($1.5m) ($499k) $3.2m
Accounts payable, including retainage — — $6.9m $11.9m ($19.5m) ($5.6m) $11.3m ($10.9m) ($10.3m) $5.3m
Income tax receivable — $2.2m ($2.8m) $58k $494k ($114k) $19k $95k $0 $0
Accrued income taxes — — $0 $12k $1.7m ($1.2m) $1.4m ($1.4m) $1.0m ($318k)
Accrued expenses and other current liabilities $6.6m ($2.8m) $29.5m ($34.7m) $4.7m ($706k) ($2.9m) $2.9m $3.1m ($8.9m)
Payment of contingent consideration liability in excess of acquisition-date fair value — — — — — — $0 ($1.2m) ($3.9m) ($1.5m)
Other long-term liabilities ($651k) $44k $653k ($337k) $3.8m ($3.7m) ($108k) $401k ($141k) $409k
Net of cash acquired $0 $0 — — $0 ($19.0m) $0 ($15.3m) ($36.6m) ($65.7m)
Advances from joint ventures — — — — — — $0 $0 $7k $0
Payments on Wintrust Term Loans — — — $0 ($2.0m) ($44.1m) ($13.4m) ($21.5m) $0 $0
Proceeds from Wintrust Revolving Loan — — $0 $32.5m $7.2m $0 $15.2m $10.0m $0 $73.8m
Payments on Wintrust Revolving Loan — — $0 ($32.5m) ($7.2m) $0 ($15.2m) $0 $0 ($73.8m)
Payment of contingent consideration liability up to acquisition-date fair value — — — — $0 ($1.4m) $0 ($1.8m) ($1.3m) ($3.5m)
Payments on finance leases — — ($1.9m) ($2.5m) ($2.7m) ($2.6m) ($2.7m) ($2.7m) ($3.0m) ($4.4m)
Proceeds from contributions to employee stock purchase plan — — — $0 $191k $323k $309k $368k $440k $653k
Proceeds from the sale of shares to cover employee taxes — — — — — — — $0 $0 $6.3m
Measurement period adjustment — — — — — — — $0 $0 ($94k)
Earnout liability transactions — — — — $0 $3.1m $0 $4.7m $5.1m $0
Right of use assets obtained in exchange for new finance lease liabilities — — — $3.6m $2.6m $1.3m $2.6m $5.2m $7.6m $13.5m
Right of use assets disposed or adjusted modifying finance leases liabilities — — — ($78k) ($86k) $0 ($77k) ($93k) $0 $49k
Net Cash Provided by (Used in) Operating Activities $606k ($4.1m) $25.3m ($926k) $39.8m ($24.2m) $35.4m $57.4m $36.8m $45.7m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $1.5m $3.3m $3.9m $2.7m $1.5m $791k $993k $2.3m $7.5m $3.8m
Payments to Acquire Businesses, Net of Cash Acquired — $0 — — — $19.0m $0 — — —
Net Other Investing Changes — — — — — ($2k) — — $7k —
Net Cash Provided by (Used in) Investing Activities ($51k) ($3.2m) ($3.7m) ($2.5m) ($1.3m) ($19.3m) ($495k) ($17.1m) ($42.6m) ($67.6m)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt — — $10.0m — — — — — — —
Issuance Of Debt — — — — — — $20.6m $10.0m $0 $73.8m
Long Term Debt Issuance — — — — — — $20.6m $10.0m $0 $73.8m
Net Issuance Payments Of Debt — — — — — — ($10.8m) ($14.2m) ($3.0m) ($4.4m)
Net Long Term Debt Issuance — — — — — — ($10.8m) ($14.2m) ($3.0m) ($4.4m)
Payments of debt issuance costs $0 $0 ($765k) ($3.8m) $0 ($643k) ($433k) ($50k) $0 ($168k)
Repayments of Long-term Debt — — $2.3m — — — — — — —
Long Term Debt Payments — — — — — — ($31.4m) ($24.2m) ($3.0m) ($78.2m)
Repayment Of Debt — — — — — — ($31.4m) ($24.2m) ($3.0m) ($78.2m)
Proceeds from Issuance of Common Stock $0 $0 — — — $22.8m $0 — — —
Common Stock Issuance — — — — — — $0 $0 $0 $6.3m
Net Common Stock Issuance — — — — — — ($2.0m) $0 $0 $6.3m
Payments for Repurchase of Common Stock — — — — — — $2.0m $0 $0 —
Common Stock Payments — — — — — $0 ($2.0m) $0 $0 —
Net Other Financing Charges — — — — — — ($850k) ($2.7m) ($6.5m) ($14.3m)
Net Cash Provided by (Used in) Financing Activities $0 $519k ($20.6m) $10.1m ($4.7m) $15.9m ($13.4m) ($16.5m) ($9.1m) ($11.7m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — $993k $6.7m $33.8m ($27.7m) $21.5m $23.8m ($14.9m) ($33.6m)
(Decrease) increase in cash, cash equivalents and restricted cash — — $993k $6.7m $33.8m ($27.7m) $21.5m $23.8m ($14.9m) ($33.6m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — $993k $8.5m $42.3m $14.6m $36.1m $59.9m $45.0m $11.4m
Cash, cash equivalents and restricted cash, beginning of year — — $1.7m $8.5m $42.3m $14.6m $36.1m $59.9m $45.0m $11.4m
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — $21.5m $23.8m ($14.9m) ($33.6m)
Interest Paid, Excluding Capitalized Interest, Operating Activities $527k $1.9m $2.7m $4.6m $6.5m $2.5m $2.0m $1.9m $1.9m $3.1m
Income Taxes Paid, Net — ($104k) ($211k) ($131k) $734k $2.3m $2.0m $9.2m $8.5m $7.3m

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