← Latham Group, Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
| Net Income From Continuing Operations | $7.5m | $16.0m | ($62.3m) | ($5.7m) | ($2.4m) | ($17.9m) | $11.1m | — | $5.3m | |
| Adjustments to reconcile profit (loss) | — | $48.4m | $16.9m | $3.0m | $26.6m | $25.9m | $38.2m | $36.8m | — | |
| Depreciation, Depletion and Amortization | $21.7m | $25.4m | $32.2m | $38.2m | $40.8m | $44.4m | $51.4m | $22.1m | $53.0m | |
| Amortization of Debt Issuance Costs and Discounts | — | $2.3m | $6.4m | $1.6m | $1.7m | $1.7m | $1.7m | — | — | |
| Amortization of Intangible Assets | — | $17.3m | $22.6m | $28.2m | $26.5m | $27.1m | $28.9m | — | — | |
| Depreciation, Depletion and Amortization, Nonproduction | — | $8.0m | $9.7m | $10.0m | $13.8m | $16.5m | $21.6m | — | $53.0m | |
| Amortization of deferred financing costs and debt discount | $3.2m | $2.3m | $6.4m | $1.6m | $1.7m | $1.7m | $1.7m | — | — | |
| Depreciation Amortization Depletion | — | — | — | $38.2m | $40.8m | $44.4m | $51.4m | — | $53.0m | |
| Deferred Income Tax Expense (Benefit) | ($10.2m) | ($4.7m) | ($12.0m) | ($3.8m) | ($9.7m) | ($1.7m) | $2.4m | — | $2.4m | |
| Deferred taxes | — | ($3.2m) | ($3.8m) | ($3.0m) | ($6.8m) | ($256k) | $1.5m | ($1.5m) | — | |
| Deferred Income Tax | — | — | — | ($2.4m) | ($17.2m) | ($1.7m) | $2.4m | — | $2.4m | |
| Deferred Tax | — | — | — | ($2.4m) | ($17.2m) | ($1.7m) | $2.4m | — | $2.4m | |
| Share-based Payment Arrangement, Noncash Expense | — | $1.8m | $128.8m | $50.6m | $18.8m | $7.4m | $9.2m | — | $8.6m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | — | — | $2.9m | — | — | |
| Share-based Payment Arrangement, Expense | — | $1.8m | $128.8m | $50.6m | $18.8m | $7.4m | $9.2m | — | $8.6m | |
| Share-based compensation | — | $2.9m | $5.6m | $3.3m | $6.7m | $4.9m | $4.0m | $5.5m | $8.6m | |
| Share-based compensation granted on business acquisition | — | $0 | ($1.3m) | $0 | — | — | — | — | $8.6m | |
| Stock-based compensation expense | $808k | $1.8m | $128.8m | $50.6m | $18.8m | $7.4m | $9.2m | — | $8.6m | |
| Impairment of goodwill and intangibles | — | — | — | — | — | $0 | $5.1m | $41.1m | — | |
| Asset Impairment Charge | — | — | — | $2.0m | $5.4m | $2.1m | $1.7m | — | $1.5m | |
| Income (Loss) from Equity Method Investments | — | — | $2.2m | $4.2m | $3.7m | $4.1m | $5.2m | — | — | |
| Other Nonoperating Income (Expense) | — | $1.1m | $4.9m | ($1.3m) | $1.0m | ($6.2m) | $3.5m | — | — | |
| Earnings from equity method investment | — | — | ($2.2m) | ($4.2m) | ($3.7m) | ($4.1m) | ($5.2m) | — | — | |
| Distributions received from equity method investment | — | — | $1.8m | $2.5m | $2.9m | $5.1m | $3.6m | — | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | ($4.2m) | ($3.7m) | ($4.1m) | ($5.2m) | — | ($5.7m) | |
| Nonoperating Income (Expense) | — | ($17.1m) | ($19.6m) | ($20.5m) | ($29.9m) | ($31.1m) | ($22.3m) | — | — | |
| Changes in operating assets and liabilities: | ||||||||||
| Change In Working Capital | — | — | — | ($73.6m) | $59.3m | $10.5m | ($17.3m) | — | $1.3m | |
| Increase (Decrease) in Accounts Receivable | — | ($9.5m) | $26.0m | ($9.0m) | ($13.0m) | $2.4m | $9.2m | — | ($8.3m) | |
| Trade receivables | ($7.1m) | $9.5m | ($26.0m) | $9.0m | $13.0m | ($2.4m) | ($9.2m) | — | — | |
| Change In Receivables | — | — | — | $10.7m | $14.4m | ($5.4m) | ($17.4m) | — | ($8.3m) | |
| Changes In Account Receivables | — | — | — | $9.0m | $13.0m | ($2.4m) | ($9.2m) | — | ($8.3m) | |
| Increase (Decrease) in Inventories | — | $17.0m | $39.7m | $57.0m | ($68.2m) | ($22.7m) | ($2.8m) | — | $2.5m | |
| Inventories | $13.0m | ($17.0m) | ($39.7m) | ($57.0m) | $68.2m | $22.7m | $2.8m | — | $2.5m | |
| Change In Inventory | — | — | — | ($57.0m) | $68.2m | $22.7m | $2.8m | — | $2.5m | |
| Increase (Decrease) in Accounts Payable | ($2.3m) | $9.8m | $10.7m | ($12.4m) | ($8.5m) | ($4.0m) | $5.8m | — | $10.6m | |
| Purchases of property and equipment included in accounts payable and accrued expenses | $312k | $1.2m | $664k | $6.0m | $955k | $510k | $1.1m | — | ($43.1m) | |
| Change In Payables And Accrued Expense | — | — | — | ($31.8m) | ($20.4m) | ($5.4m) | ($269k) | — | $10.6m | |
| Accrued expenses and other current liabilities | $699k | $20.6m | $4.7m | ($19.4m) | ($11.9m) | ($1.3m) | ($6.1m) | — | — | |
| Change In Accrued Expense | — | — | — | ($19.4m) | ($11.9m) | ($1.3m) | ($6.1m) | — | ($716k) | |
| Prepaid expenses and other current assets | $1.5m | $1.7m | ($4.5m) | $4.7m | ($1.3m) | ($2.0m) | ($1.6m) | — | — | |
| Other assets | — | — | $800k | ($466k) | ($4.3m) | $1.3m | ($244k) | — | — | |
| Other | — | $0 | ($138k) | ($533k) | $0 | ($290k) | $0 | — | — | |
| Change In Other Current Assets | — | — | — | ($466k) | ($4.3m) | $1.3m | ($244k) | — | ($577k) | |
| Change In Other Current Liabilities | — | — | — | $249k | $2.8m | ($711k) | ($573k) | — | ($387k) | |
| Net Cash Provided by (Used in) Operating Activities | $35.7m |
$63.2m
+77.14%
|
$33.7m
-46.66%
|
$32.3m
-4.10%
|
$116.4m
+260.18%
|
$61.3m
-47.32%
|
$63.4m
+3.46%
|
$25.8m
-59.28%
|
$80.1m
+210.21%
|
|
| Cash flows from investing activities: | ||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | — | $300k | $300k | $200k | $300k | ($100k) | ($100k) | $515k | ($4.5m) | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | $0 | $4.8m | $0 | $3.7m | $1.5m | $150k | $515k | ($4.5m) | |
| Payments to Acquire Property, Plant, and Equipment | ($8.2m) | $16.3m | $25.0m | $39.7m | $33.2m | $20.1m | $25.4m | ($1.4m) | ($43.1m) | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $74.7m | $90.5m | $5.4m | — | $64.5m | $4.9m | — | ($14.2m) | |
| Business acquisitions, net of cash acquired | — | ($15.2m) | $0 | ($15.7m) | ($14.4m) | $0 | ($6.4m) | ($10.9m) | — | |
| Business divestiture, cash disposed | — | — | — | — | — | — | $0 | ($951k) | — | |
| Net Cash Provided by (Used in) Investing Activities | ($27.1m) | ($115.8m) | ($108.2m) | ($45.0m) | ($31.7m) | ($84.6m) | ($42.3m) | ($13.6m) | ($57.3m) | |
| Cash flows from financing activities: | ||||||||||
| Gain (Loss) on Extinguishment of Debt | — | — | — | ($3.5m) | — | $0 | — | — | — | |
| Bad debt expense | — | — | $986k | $2.0m | $5.4m | $2.1m | $1.7m | — | — | |
| Proceeds from borrowings on revolving credit facility | — | — | $16.0m | $25.0m | $48.0m | $0 | $25.0m | — | — | |
| Proceeds from Issuance of Long-term Debt | — | $20.0m | $222.8m | $320.1m | — | $0 | — | — | $25.0m | |
| Issuance Of Debt | — | — | — | $345.1m | $48.0m | $0 | $25.0m | — | $25.0m | |
| Long Term Debt Issuance | — | — | $222.8m | $320.1m | $0 | $0 | — | — | $25.0m | |
| Net Issuance Payments Of Debt | — | — | — | $33.7m | ($13.9m) | ($22.0m) | ($4.1m) | — | ($4.1m) | |
| Net Long Term Debt Issuance | — | — | — | $8.7m | ($61.9m) | ($22.0m) | ($29.1m) | — | ($39.1m) | |
| Net Short Term Debt Issuance | — | — | — | $25.0m | $48.0m | $0 | $25.0m | — | $35.0m | |
| Payments on long-term debt borrowings | ($5.8m) | ($24.0m) | ($169.1m) | ($286.4m) | ($13.2m) | ($21.2m) | ($3.2m) | — | — | |
| Realized foreign exchange (gain) loss on repayment of long-term debt | — | $81k | ($879k) | ($250k) | $861k | ($26k) | $580k | ($604k) | — | |
| Repayment of other long-term debt | — | — | — | — | — | — | ($450k) | ($350k) | — | |
| Long Term Debt Payments | — | — | — | ($311.4m) | ($61.9m) | ($22.0m) | ($29.1m) | — | ($39.1m) | |
| Repayment Of Debt | — | — | — | ($311.4m) | ($61.9m) | ($22.0m) | ($29.1m) | — | ($39.1m) | |
| Short Term Debt Payments | — | — | ($16.0m) | ($25.0m) | ($48.0m) | — | — | — | ($48.0m) | |
| Common stock withheld for taxes on restricted stock units | — | — | — | — | $0 | $0 | ($2.9m) | — | — | |
| Issuance Of Capital Stock | — | — | $399.3m | $257.7m | $0 | $0 | — | — | $0 | |
| Repurchase Of Capital Stock | — | — | ($281.6m) | ($280.7m) | $0 | $0 | — | — | ($2.4m) | |
| Proceeds from Issuance of Common Stock | — | $65.6m | — | $257.7m | — | $0 | — | — | $0 | |
| Common Stock Issuance | — | — | $399.3m | $257.7m | $0 | $0 | — | — | $0 | |
| Net Common Stock Issuance | — | — | $117.6m | ($23.0m) | $0 | $0 | — | — | ($2.4m) | |
| Payments for Repurchase of Common Stock | — | $582k | $281.6m | $280.7m | — | $0 | — | — | — | |
| Common Stock Payments | — | — | ($281.6m) | ($280.7m) | $0 | $0 | — | — | ($2.4m) | |
| Common Stock Dividend Paid | — | — | ($110.0m) | $0 | $0 | — | — | — | — | |
| Cash Dividends Paid | — | — | ($110.0m) | $0 | $0 | — | — | — | — | |
| Dividend Received CFO | — | — | — | $2.5m | $2.9m | $5.1m | $3.6m | — | $2.2m | |
| Net Other Financing Charges | — | — | ($1.2m) | ($6.9m) | — | — | ($2.9m) | — | ($2.9m) | |
| Net cash (used in) from financing activities | — | $4.9m |
$3.4m
-30.72%
|
$27.9m
+715.33%
|
($11.3m)
-140.57%
|
— | — | — | — | |
| Net Cash Provided by (Used in) Financing Activities | $16.6m |
$54.3m
+228.09%
|
$60.0m
+10.52%
|
$3.8m
-93.71%
|
($13.9m)
-467.55%
|
($22.0m)
-58.71%
|
($7.0m)
+68.33%
|
($14.7m)
-111.39%
|
($7.1m)
+51.68%
|
|
| Net increase (decrease) in cash | $24.2m | $2.7m | ($15.4m) | ($11.3m) | $70.1m | ($46.4m) | $14.6m | — | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $2.7m | ($15.4m) | ($11.3m) | $70.1m | ($46.4m) | $14.6m | — | $42.6m | |
| Cash at beginning of period | $56.7m | $59.3m | $44.0m | $32.6m | $102.8m | $56.4m | $71.0m | — | — | |
| Cash, beginning of year | — | ($4.0m) | ($1.9m) | $10.8m | $4.9m | ($13.7m) | $7.1m | ($3.1m) | — | |
| Beginning Cash Position | — | — | — | $44.0m | $32.6m | $102.8m | $56.4m | — | $26.9m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $59.3m | $44.0m | $32.6m | $102.8m | $56.4m | $71.0m | — | $42.6m | |
| Restricted cash | — | $47k | ($1.0m) | ($21k) | $3.3m | $0 | — | — | — | |
| Effect of exchange rate changes on cash | ($956k) | $997k | ($861k) | ($2.4m) | ($631k) | ($1.0m) | $507k | ($596k) | $886k | |
| Effect of exchange rate changes | — | $579k | ($308k) | ($2.4m) | ($631k) | ($1.0m) | $507k | — | $886k | |
| Additional Supplementary Disclosures | ||||||||||
| Additional Supplementary Disclosures | ||||||||||
| Income Tax Expense (Benefit) | — | $6.8m | $8.8m | $19.4m | ($7.7m) | $9.1m | $2.4m | — | — | |
| Interest Expense Nonoperating | — | — | — | — | — | $24.8m | $25.8m | — | — | |
| Changes in non-cash working capital items | — | $5.7m | ($86k) | ($1.1m) | $2.3m | ($10.2m) | $10.2m | ($11.0m) | — | |
| Additional Financial Items | ||||||||||
| Foreign Currency Transaction Gain (Loss), before Tax | — | — | — | — | — | ($6.2m) | $4.1m | — | — | |
| Goodwill | — | $115.8m | $128.9m | $131.4m | $131.4m | $152.6m | $155.2m | — | $1.5m | |
| Payments of Financing Costs | — | — | $1.2m | $6.9m | — | $0 | — | — | — | |
| Unrealized Gain (Loss) on Derivatives | — | — | — | — | ($4.7m) | $808k | ($717k) | — | — | |
| Gain on insurance proceeds received for capital | — | — | — | $0 | ($1.5m) | $0 | $0 | — | — | |
| Unrealized foreign currency (gains) loss | — | — | — | $2.5m | ($110k) | $6.2m | ($4.1m) | — | — | |
| Non-cash lease expense | — | — | — | $7.4m | $7.7m | $7.1m | $7.5m | — | — | |
| Change in fair value of interest rate swap | — | — | ($858k) | ($3.0m) | $4.7m | ($808k) | $717k | — | — | |
| Other non-cash, net | $933k | $1.0m | $493k | $3.0m | ($94k) | $1.1m | $651k | — | — | |
| Provision on liability for uncertain tax positions | $5.1m | $465k | $149k | $1.4m | ($7.5m) | $0 | $0 | — | — | |
| Income tax receivable | ($503k) | ($4.2m) | $338k | $1.7m | $1.3m | ($3.0m) | ($8.2m) | — | — | |
| Other long-term liabilities | $123k | $793k | ($1.2m) | $249k | $2.8m | ($711k) | ($573k) | — | — | |
| Capital reimbursed from insurance proceeds | — | — | — | $0 | $1.5m | $0 | $0 | — | — | |
| Payments on revolving credit facilities | — | — | ($16.0m) | ($25.0m) | ($48.0m) | $0 | ($25.0m) | — | — | |
| Repayments of finance lease obligations | — | — | — | $0 | ($625k) | ($771k) | ($823k) | — | — | |
| Right-of-use operating and finance lease assets obtained in exchange for lease liabilities | — | — | — | $46.2m | $6.2m | $5.4m | $10.4m | — | — | |
| Net (loss) earnings | — | ($39.7m) | ($17.3m) | ($15.5m) | ($30.1m) | ($16.7m) | $1.3m | ($38.8m) | — | |
| Change in fair value of contingent consideration | — | — | — | $0 | $9.2m | ($3.8m) | ($5.6m) | ($2.1m) | — | |
| Net financial expenses | — | $231k | $242k | $4.6m | $9.3m | $11.9m | $8.9m | $9.5m | — | |
| Unrealized foreign exchange loss (gain) | — | $273k | $1.3m | $299k | ($318k) | $153k | ($966k) | $1.0m | — | |
| Cash settlement of RSUs, DSUs and PSUs | — | — | — | — | $0 | ($371k) | ($264k) | $0 | — | |
| Additions to intangibles | — | ($49k) | ($166k) | ($1.4m) | ($849k) | ($41k) | ($239k) | ($316k) | — | |
| Advances on the Credit Facility, net of related transaction costs | — | $64.1m | $53.5m | $156.8m | $98.7m | $148.3m | $102.7m | $61.4m | — | |
| Repayment of the Credit Facility | — | ($54.4m) | ($49.9m) | ($146.5m) | ($97.5m) | ($159.1m) | ($110.3m) | ($50.8m) | — | |
| Repayment of secured loans | — | — | — | — | — | — | ($8.5m) | $0 | — | |
| Repayment of balances of purchase price payable | — | — | — | — | — | — | ($4.3m) | ($7.7m) | — | |
| Repayment of lease liabilities, including lease termination costs | — | ($1.8m) | ($1.4m) | ($2.7m) | ($3.7m) | ($5.8m) | ($4.6m) | ($3.8m) | — | |
| Exercise of stock options | — | $165k | $300k | $299k | $346k | $6k | $0 | $100k | — | |
| Shares purchased for settlement of RSUs | — | — | $0 | $0 | ($29k) | $0 | ($148k) | ($205k) | — | |
| Shares purchased for cancellation | — | — | $0 | ($1.2m) | ($1.0m) | ($953k) | ($402k) | ($5.2m) | — | |
| Financial expenses paid | — | — | — | $3.5m | $8.1m | ($11.0m) | ($8.0m) | ($8.1m) | — | |
| Cash, end of year | — | $12.8m | $8.8m | $17.7m | $17.7m | $8.9m | $16.0m | $12.8m | — | |
| Forgiveness of PPP loans | — | $0 | ($1.9m) | ($5.9m) | $0 | — | — | — | — | |
| Loss on disposal of intangibles | — | $28.0m | $0 | $262k | $0 | — | — | — | — | |
| Right-of-use assets | — | $222k | $0 | ($132k) | $0 | — | — | — | — | |
| Proceeds from issuing shares | — | — | — | $24.7m | $0 | — | — | — | — | |
| Lease incentives | — | $0 | $917k | $0 | — | — | — | — | — | |
| Interest accretion on balances of purchase payable | — | $318k | $835k | $823k | — | — | — | — | — | |
| Gain on sale of subsidiary | — | ($681k) | $0 | — | — | — | — | — | — | |
| Short-term deposits | — | $1.3m | $0 | — | — | — | — | — | — | |
| Line of credit and demand loan drawn (repaid) | — | ($3.2m) | $0 | — | — | — | — | — | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | $3.8m | ($13.9m) | ($22.0m) | ($7.0m) | — | ($7.1m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | ($45.0m) | ($31.7m) | ($84.6m) | ($42.3m) | — | ($57.3m) | |
| Change In Account Payable | — | — | — | ($12.4m) | ($8.5m) | ($4.0m) | $5.8m | — | $10.6m | |
| Change In Payable | — | — | — | ($12.4m) | ($8.5m) | ($4.0m) | $5.8m | — | $10.6m | |
| Change In Prepaid Assets | — | — | — | $4.7m | ($1.3m) | ($2.0m) | ($1.6m) | — | ($1.9m) | |
| Changes In Cash | — | — | — | ($8.9m) | $70.8m | ($45.4m) | $14.1m | — | $15.7m | |
| End Cash Position | — | — | — | $32.6m | $102.8m | $56.4m | $71.0m | — | $42.6m | |
| Financing Cash Flow | — | — | — | $3.8m |
($13.9m)
-467.55%
|
($22.0m)
-58.71%
|
($7.0m)
+68.33%
|
— | ($7.1m) | |
| Free Cash Flow | — | — | — | ($7.4m) | $83.2m | $41.2m | $26.0m | — | $37.0m | |
| Gain Loss On Investment Securities | — | — | — | ($3.0m) | $4.7m | ($808k) | $717k | — | ($960k) | |
| Gain Loss On Sale Of Business | — | — | ($4.8m) | $0 | $0 | — | — | — | — | |
| Investing Cash Flow | — | — | — | ($45.0m) | ($31.7m) | ($84.6m) | ($42.3m) | — | ($57.3m) | |
| Net Business Purchase And Sale | — | — | — | ($5.4m) | $0 | ($64.5m) | ($4.9m) | — | ($14.2m) | |
| Net Foreign Currency Exchange Gain Loss | — | — | — | $2.5m | ($110k) | $6.2m | ($4.1m) | — | $2.2m | |
| Net PPE Purchase And Sale | — | — | — | ($39.7m) | ($33.2m) | ($20.1m) | ($37.4m) | — | ($43.1m) | |
| Operating Gains Losses | — | — | — | ($1.2m) | $896k | $1.4m | ($8.6m) | — | ($4.5m) | |
| Other Non Cash Items | — | — | — | $21.9m | $7.9m | $9.9m | $9.9m | — | — | |
| Purchase Of Business | — | — | — | ($5.4m) | $0 | ($64.5m) | ($4.9m) | — | ($14.2m) | |
| Purchase Of PPE | — | — | — | ($39.7m) | ($33.2m) | ($20.1m) | ($37.4m) | — | ($43.1m) | |
| Sale Of Business | — | — | $7.2m | $0 | $0 | — | — | — | — | |
| Sale Of PPE | — | — | $35k | $24k | $0 | $0 | — | — | $0 | |
| Stock Based Compensation | — | — | — | $50.6m | $18.8m | $7.4m | $9.2m | — | $8.6m | |
| Acquisition of business, net of cash acquired | ($20.2m) | ($74.7m) | ($90.5m) | ($5.4m) | $0 | ($64.5m) | ($4.9m) | — | — | |
| Supplemental disclosure of cash flow information: | ||||||||||
| Change In Cash Supplemental As Reported | — | — | — | ($11.3m) | $70.1m | ($46.4m) | $14.6m | — | — | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $19.5m | $15.6m | $17.4m | $12.6m | $25.7m | $24.9m | $27.0m | — | — | |
| Income Taxes Paid, Net | $168k | $14.8m | $20.1m | $20.3m | $7.0m | $15.5m | $8.2m | ($72k) | — |