Nextracker Inc.(NASDAQ:NXT) 
Nextracker Inc., an energy solutions company, provides solar tracker solutions for PV projects. The company offers solar trackers, such as Bifacial PV modules for large-scale solar; NX Horizon for solar power plants; NX Gemini two-in-portrait solar tracker that optimizes lifetime value and performan...
Website: https://www.nextracker.com
Founded: 2013
IPO Price: $24 (Feb 09, 2023)
Full Time Employees: 566
Sector: Technology
Industry: Solar
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-26 | 2025-06-27 | 2025-03-31 | 2024-12-31 | 2024-09-27 | 2024-06-28 | 2024-03-31 | 2023-12-31 | 2023-09-29 | 2023-06-30 | 2023-03-31 | 2022-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 909,352,000 | 905,268,000 | 864,253,000 | 679,363,000 | 635,571,000 | 719,921,000 | 710,426,000 | 573,357,000 | 479,543,000 | |||||
yoy | 33.85% | 42.43% | 20.05% | -4.37% | 10.85% | 50.13% | ||||||||
qoq | 0.45% | 4.75% | 6.89% | -11.72% | 23.91% | 19.56% | ||||||||
cost of sales | 621,220,000 | 612,408,000 | 582,527,000 | 438,460,000 | 410,776,000 | 482,481,000 | 500,701,000 | 424,247,000 | 365,799,000 | 63,000 | ||||
gross profit | 288,132,000 | 292,860,000 | 281,726,000 | 240,903,000 | 224,795,000 | 237,440,000 | 209,725,000 | 149,110,000 | 113,744,000 | |||||
yoy | 19.60% | 30.28% | 18.65% | 14.87% | 50.76% | 108.75% | ||||||||
qoq | -1.61% | 3.95% | 7.17% | -5.33% | 40.65% | 31.09% | ||||||||
gross margin % | NaN% | 31.69% | 32.35% | 32.60% | NaN% | 35.46% | 35.37% | 32.98% | NaN% | 29.52% | 26.01% | 23.72% | NaN% | NaN% |
selling, general and administrative expenses | 82,733,000 | 84,626,000 | 73,936,000 | 70,573,000 | 72,127,000 | 60,827,000 | 48,356,000 | 47,872,000 | 34,235,000 | |||||
research and development | 29,294,000 | 26,889,000 | 21,560,000 | 20,094,000 | 19,193,000 | 16,519,000 | 12,897,000 | 7,146,000 | 5,629,000 | |||||
operating income | 176,105,000 | 181,345,000 | 186,230,000 | 150,236,000 | 133,475,000 | 160,094,000 | 148,472,000 | 94,092,000 | 73,880,000 | |||||
yoy | 17.22% | 35.86% | 16.33% | 1.19% | 41.86% | 116.69% | ||||||||
qoq | -2.89% | -2.62% | 12.56% | -16.63% | 57.79% | 27.36% | ||||||||
operating margin % | NaN% | 19.37% | 20.03% | 21.55% | NaN% | 22.11% | 21.00% | 22.24% | NaN% | 20.90% | 16.41% | 15.41% | NaN% | NaN% |
interest expense | 339,000 | 730,000 | 1,216,000 | 3,798,000 | 3,665,000 | 3,280,000 | ||||||||
other income | -4,733,000 | -2,110,000 | -13,778,000 | |||||||||||
income before income taxes | 180,499,000 | 182,725,000 | 190,967,000 | 160,216,000 | 137,192,000 | 151,946,000 | 166,779,000 | 85,408,000 | 72,746,000 | |||||
provision for income taxes | 49,263,000 | 35,864,000 | 33,784,000 | 42,842,000 | 19,928,000 | 27,152,000 | 38,818,000 | 3,999,000 | 9,101,000 | |||||
net income | 131,236,000 | |||||||||||||
less: net income attributable to non-controlling interests | ||||||||||||||
net income attributable to nextpower inc. | 131,236,000 | |||||||||||||
earnings per share attributable to nextpower inc. common stockholders | ||||||||||||||
basic | 0.88 | 0.99 | 1.06 | 0.8 | 0.8 | 0.86 | 0.67 | 0.64 | 0.44 | |||||
diluted | 0.85 | 0.97 | 1.04 | 0.79 | 0.79 | 0.84 | 0.87 | 0.55 | 0.43 | |||||
weighted-average shares used for eps calculation | ||||||||||||||
basic | 147,976,256 | 148,414,202 | 148,027,872 | 147,631,000 | 143,539,344 | 143,663,514 | 143,478,959 | 142,102,503 | 77,067,639 | 62,108,835 | 61,721,709 | 46,411,859 | 45,886,065 | |
diluted | 152,710,033 | 153,921,077 | 152,018,105 | 150,900,696 | 149,275,950 | 149,027,858 | 149,079,198 | 149,233,237 | 147,284,330 | 147,344,370 | 147,141,142 | 146,868,852 | 145,851,637 | |
net income and comprehensive income | 146,861,000 | 157,183,000 | 117,374,000 | 117,264,000 | 124,794,000 | 127,961,000 | 81,409,000 | 63,645,000 | ||||||
yoy | 25.24% | 25.95% | -8.27% | 44.04% | 96.08% | |||||||||
qoq | -6.57% | 0.09% | -6.03% | 57.18% | 27.91% | |||||||||
net income margin % | NaN% | 0% | 16.22% | 18.19% | NaN% | 17.28% | 18.45% | 17.33% | NaN% | 18.01% | 14.20% | 13.27% | NaN% | NaN% |
net income attributable to nextracker inc. | 146,861,000 | 157,183,000 | 115,283,000 | 115,391,000 | 121,700,000 | 41,396,000 | 39,253,000 | 20,429,000 | ||||||
earnings per share attributable to nextracker inc. common stockholders | ||||||||||||||
basic | 0.88 | 0.99 | 1.06 | 0.8 | 0.8 | 0.86 | 0.67 | 0.64 | 0.44 | |||||
diluted | 0.85 | 0.97 | 1.04 | 0.79 | 0.79 | 0.84 | 0.87 | 0.55 | 0.43 | |||||
other expense | -5,953,000 | -7,382,000 | 4,868,000 | |||||||||||
less: net income attributable to non-controlling interests and redeemable non-controlling interests | 2,091,000 | 1,873,000 | 3,094,000 | |||||||||||
interest and other income | -18,307,000 | |||||||||||||
less: net income attributable to nextracker llc prior to the reorganization transactions | ||||||||||||||
less: net income attributable to redeemable non-controlling interests | 86,565,000 | 42,156,000 | 43,216,000 | |||||||||||
earnings per share attributable to the stockholders of nextracker inc. | ||||||||||||||
basic | 0.88 | 0.99 | 1.06 | 0.8 | 0.8 | 0.86 | 0.67 | 0.64 | 0.44 | |||||
diluted | 0.85 | 0.97 | 1.04 | 0.79 | 0.79 | 0.84 | 0.87 | 0.55 | 0.43 | |||||
interest and other expense | 8,684,000 | 1,134,000 | ||||||||||||
intangible assets: | ||||||||||||||
trade name and other intangibles | 15,900,000 | |||||||||||||
total | 15,900,000 | |||||||||||||
selling general and administrative expense | ||||||||||||||
total amortization expense | 63,000 | |||||||||||||
fiscal year ending march 31, | ||||||||||||||
2023 | 62,000 | |||||||||||||
2024 | 250,000 | |||||||||||||
2025 | 250,000 | |||||||||||||
2026 | 250,000 | |||||||||||||
2027 | 250,000 | |||||||||||||
thereafter | 321,000 | |||||||||||||
5. | ||||||||||||||
total stock-based compensation expense | ||||||||||||||
6. |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-26 | 2025-06-27 | 2025-03-31 | 2024-12-31 | 2024-09-27 | 2024-06-28 | 2024-03-31 | 2023-12-31 | 2023-09-29 | 2023-06-30 | 2023-03-31 | 2022-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||
current assets: | ||||||||||||||
cash and cash equivalents | 1,094,976,000 | 952,624,000 | 845,342,000 | 743,402,000 | 766,103,000 | 693,543,000 | 561,884,000 | 471,879,000 | 474,054,000 | 367,818,000 | 372,918,000 | 355,081,000 | 130,008,000 | |
accounts receivable | 417,043,000 | 452,235,000 | 549,216,000 | 553,578,000 | 472,462,000 | 457,918,000 | 357,586,000 | 401,937,000 | 382,687,000 | 365,271,000 | 346,662,000 | 222,750,000 | 271,159,000 | |
contract assets | 533,257,000 | 443,358,000 | 425,338,000 | 384,683,000 | 405,890,000 | 279,027,000 | 360,013,000 | 361,939,000 | 397,123,000 | 351,545,000 | 304,804,000 | 320,124,000 | 297,960,000 | |
inventories | 262,276,000 | 275,292,000 | 221,155,000 | 227,133,000 | 209,432,000 | 217,301,000 | 179,251,000 | 166,023,000 | 201,736,000 | 202,662,000 | 196,235,000 | 136,656,000 | 138,057,000 | |
section 45x credit receivable | 352,598,000 | 301,149,000 | 244,483,000 | 221,245,000 | 215,616,000 | |||||||||
other current assets | 186,406,000 | 134,941,000 | 153,141,000 | 102,903,000 | 88,483,000 | 346,732,000 | 326,000,000 | 295,633,000 | 312,635,000 | 131,664,000 | 118,161,000 | 82,195,000 | 35,081,000 | |
total current assets | 2,846,556,000 | 2,559,599,000 | 2,438,675,000 | 2,232,944,000 | 2,157,986,000 | 1,994,521,000 | 1,784,734,000 | 1,697,411,000 | 1,768,235,000 | 1,418,960,000 | 1,338,780,000 | 1,116,806,000 | 872,265,000 | |
property and equipment | 78,356,000 | 84,752,000 | 84,928,000 | 72,422,000 | 60,395,000 | 47,985,000 | 47,158,000 | 35,261,000 | 9,236,000 | 8,369,000 | 7,464,000 | 6,914,000 | 7,255,000 | |
goodwill | 488,950,000 | 485,300,000 | 473,667,000 | 444,923,000 | 371,018,000 | 370,613,000 | 370,613,000 | 328,381,000 | 265,153,000 | 265,153,000 | 265,153,000 | 265,153,000 | 265,153,000 | |
other intangible assets | 78,046,000 | 80,577,000 | 81,716,000 | 68,949,000 | 53,241,000 | 47,503,000 | 49,283,000 | 46,458,000 | 1,546,000 | 1,633,000 | 1,196,000 | 1,258,000 | 1,321,000 | |
deferred tax assets | 511,815,000 | 517,646,000 | 513,745,000 | 511,255,000 | 498,778,000 | 472,189,000 | 472,400,000 | 463,003,000 | ||||||
other assets | 69,489,000 | 72,192,000 | 76,158,000 | 59,446,000 | 51,098,000 | 50,748,000 | 44,471,000 | 56,415,000 | ||||||
total assets | 4,073,212,000 | 3,800,066,000 | 3,668,889,000 | 3,389,939,000 | 3,192,516,000 | 2,983,559,000 | 2,768,659,000 | 2,626,929,000 | 2,518,782,000 | 2,095,125,000 | 2,033,558,000 | 1,656,872,000 | 1,419,680,000 | |
liabilities and stockholders’ equity | ||||||||||||||
current liabilities: | ||||||||||||||
accounts payable | 533,490,000 | 560,075,000 | 553,608,000 | 581,454,000 | 585,299,000 | 377,466,000 | 406,546,000 | 387,401,000 | 456,639,000 | 374,919,000 | 403,478,000 | 293,451,000 | 211,355,000 | |
accrued expenses | 130,133,000 | 106,573,000 | 103,573,000 | 85,990,000 | 97,000,000 | 72,863,000 | 77,139,000 | 69,028,000 | 82,410,000 | 70,178,000 | 67,306,000 | 57,280,000 | 59,770,000 | |
deferred revenue | 307,492,000 | 321,882,000 | 372,348,000 | 261,688,000 | 247,127,000 | 297,007,000 | 236,882,000 | 218,565,000 | 225,539,000 | 180,021,000 | 235,907,000 | 251,040,000 | 176,473,000 | |
other current liabilities | 192,747,000 | 96,242,000 | 90,277,000 | 102,859,000 | 104,086,000 | 150,746,000 | 80,086,000 | 123,275,000 | 126,898,000 | 76,027,000 | 65,519,000 | 52,318,000 | 47,589,000 | |
total current liabilities | 1,163,862,000 | 1,084,772,000 | 1,119,806,000 | 1,031,991,000 | 1,033,512,000 | 904,645,000 | 806,278,000 | 802,957,000 | 891,486,000 | 759,437,000 | 772,210,000 | 676,138,000 | 507,426,000 | |
tax receivable agreement (tra) liability | 372,659,000 | 371,179,000 | 372,460,000 | 391,939,000 | 394,879,000 | 375,002,000 | 399,054,000 | 399,054,000 | ||||||
long-term deferred revenue | 102,493,000 | 97,580,000 | 98,882,000 | 101,452,000 | 96,635,000 | |||||||||
other liabilities | 99,801,000 | 95,665,000 | 92,043,000 | 57,413,000 | 39,360,000 | 140,182,000 | 140,506,000 | 146,052,000 | ||||||
total liabilities | 1,738,815,000 | 1,649,196,000 | 1,683,191,000 | 1,582,795,000 | 1,564,386,000 | 1,558,599,000 | 1,486,341,000 | 1,490,298,000 | 1,526,754,000 | 1,343,595,000 | 1,358,449,000 | 1,099,725,000 | 934,819,000 | |
commitments and contingencies | ||||||||||||||
stockholders’ equity: | ||||||||||||||
class a common stock, 0.0001 par value... | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 14,000 | 14,000 | 14,000 | 14,000 | 6,000 | 6,000 | 5,000 | 5,000 | |
additional paid-in-capital | 4,305,726,000 | 4,273,641,000 | 4,239,786,000 | 4,208,133,000 | 4,185,823,000 | 4,121,940,000 | 4,096,658,000 | 4,066,773,000 | 4,027,560,000 | 154,926,000 | 672,102,000 | |||
accumulated deficit | -1,971,527,000 | -2,122,130,000 | -2,253,366,000 | -2,400,227,000 | -2,557,410,000 | -2,714,204,000 | -2,829,487,000 | -2,944,878,000 | -3,066,578,000 | -3,271,953,000 | -3,313,137,000 | -3,352,390,000 | -3,075,782,000 | |
accumulated other comprehensive loss | 183,000 | -656,000 | -737,000 | -777,000 | ||||||||||
total stockholders’ equity | 2,334,397,000 | 2,150,870,000 | 1,985,698,000 | 1,807,144,000 | 1,628,130,000 | 1,424,960,000 | 1,282,318,000 | |||||||
total liabilities and stockholders’ equity | 4,073,212,000 | 3,800,066,000 | 3,668,889,000 | 3,389,939,000 | 3,192,516,000 | 2,983,559,000 | 2,768,659,000 | |||||||
current portion of long-term debt | 6,563,000 | 5,625,000 | 4,688,000 | |||||||||||
long-term debt | 138,770,000 | 140,503,000 | 142,235,000 | 143,967,000 | 144,762,000 | 145,557,000 | 147,289,000 | 147,147,000 | ||||||
class b common stock, 0.0001 par value... | 8,000 | 8,000 | 10,000 | 10,000 | ||||||||||
accumulated other comprehensive income | -298,000 | -1,200,000 | -1,186,000 | -522,000 | 17,000 | |||||||||
total nextracker inc. stockholders’ equity | 1,628,130,000 | 1,406,550,000 | 1,265,999,000 | |||||||||||
non-controlling interest | 18,410,000 | 16,319,000 | 15,244,000 | 31,015,000 | ||||||||||
liabilities and stockholders' equity | ||||||||||||||
stockholders' equity: | ||||||||||||||
total nextracker inc. stockholders' equity | 1,121,387,000 | 961,013,000 | ||||||||||||
total stockholders' equity | 1,136,631,000 | 992,028,000 | ||||||||||||
total liabilities and stockholders' equity | 2,626,929,000 | |||||||||||||
deferred tax assets and other assets | 474,612,000 | 401,010,000 | 420,965,000 | 266,741,000 | 273,686,000 | |||||||||
liabilities, redeemable interests and stockholders' equity | ||||||||||||||
due to related parties | 58,292,000 | 22,049,000 | 12,239,000 | |||||||||||
tra liability and other liabilities | 491,301,000 | 439,396,000 | 440,682,000 | 276,298,000 | 280,246,000 | |||||||||
redeemable non-controlling interests | ||||||||||||||
stockholders' deficit: | ||||||||||||||
total liabilities, redeemable interests and stockholders' equity | 2,518,782,000 | |||||||||||||
liabilities, redeemable interests and stockholders' deficit | ||||||||||||||
redeemable non-controlling interest | 3,868,543,000 | 3,316,130,000 | 3,909,522,000 | 3,560,628,000 | ||||||||||
total stockholders' deficit | -3,117,013,000 | -2,641,021,000 | -3,352,375,000 | |||||||||||
total liabilities, redeemable interests, and stockholders' deficit | 2,095,125,000 | 2,033,558,000 | 1,656,872,000 | |||||||||||
liabilities, redeemable interests and stockholders’ deficit / parent company deficit | ||||||||||||||
redeemable preferred units, 0.001 par value... | ||||||||||||||
stockholders’ deficit / parent company deficit: | ||||||||||||||
accumulated net parent investment | ||||||||||||||
total parent company deficit | ||||||||||||||
total stockholders’ deficit | -3,075,767,000 | |||||||||||||
total liabilities, redeemable interests, and stockholders’ deficit / parent company deficit | 1,419,680,000 | |||||||||||||
liabilities and stockholder’s equity | ||||||||||||||
stockholder’s equity: | ||||||||||||||
common stock, 0.01 par value per share... | ||||||||||||||
additional paid-in capital | ||||||||||||||
total liabilities and stockholder’s equity |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-26 | 2025-06-27 | 2024-12-31 | 2024-09-27 | 2024-06-28 | 2023-12-31 | 2023-09-29 | 2023-06-30 | 2022-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||
net income | 435,280,000 | 304,044,000 | 157,183,000 | 359,432,000 | 242,058,000 | 124,794,000 | 273,015,000 | 145,054,000 | 63,645,000 | 93,803,000 |
adjustments to reconcile net income to net cash from operating activities: | ||||||||||
depreciation and amortization of intangible assets | 21,586,000 | 13,150,000 | 5,789,000 | 8,299,000 | ||||||
provision for (recovery of) credit losses | ||||||||||
non-cash other expense | ||||||||||
debt extinguishment costs | ||||||||||
amortization of debt issuance cost | ||||||||||
changes in fair value of contingent consideration | ||||||||||
stock-based compensation | ||||||||||
deferred income taxes | ||||||||||
changes in operating assets and liabilities: | ||||||||||
accounts receivable | ||||||||||
contract assets | ||||||||||
inventories | ||||||||||
section 45x credit receivable | ||||||||||
other current and noncurrent assets | ||||||||||
accounts payable | ||||||||||
other current and noncurrent liabilities | ||||||||||
deferred revenue | ||||||||||
net cash from operating activities | 391,483,000 | 268,203,000 | 81,324,000 | 418,467,000 | 274,627,000 | 120,846,000 | 317,481,000 | 252,677,000 | 225,767,000 | 72,382,000 |
capital expenditures | -30,299,000 | -26,416,000 | -9,843,000 | -23,454,000 | -13,418,000 | -2,278,000 | -2,370,000 | -347,000 | -539,000 | -2,231,000 |
free cash flows | 361,184,000 | 241,787,000 | 71,481,000 | 395,013,000 | 261,209,000 | 118,568,000 | 315,111,000 | 252,330,000 | 225,228,000 | 70,151,000 |
cash flows from investing activities: | ||||||||||
payment for business acquisitions, net of cash acquired | -144,675,000 | -144,675,000 | ||||||||
purchases of property and equipment | -31,463,000 | -26,732,000 | -11,258,000 | -23,841,000 | -14,900,000 | -2,890,000 | -3,850,000 | -1,406,000 | -694,000 | -2,653,000 |
purchase of equity method investment | ||||||||||
other investing activities | -2,747,000 | |||||||||
net cash from investing activities | -158,322,000 | -142,521,000 | -98,071,000 | -168,516,000 | -159,575,000 | -113,055,000 | -3,850,000 | -1,406,000 | -694,000 | -2,629,000 |
cash flows from financing activities: | ||||||||||
repayments of bank borrowings | ||||||||||
payment of revolver issuance cost | -3,715,000 | -3,715,000 | ||||||||
tra payment | -27,427,000 | -27,427,000 | -2,944,000 | -15,520,000 | -15,520,000 | |||||
distribution to former non-controlling interest holders | ||||||||||
payment of acquisition deferred purchase price | -14,210,000 | -14,013,000 | ||||||||
repurchases of common stock | ||||||||||
net proceeds from issuance of class a shares | 552,009,000 | 552,009,000 | ||||||||
purchase of llc common units from yuma, inc. | -552,009,000 | -552,009,000 | ||||||||
net transfers to former parent | ||||||||||
other financing activities | -308,000 | -26,000 | ||||||||
net cash from financing activities | -46,640,000 | -46,443,000 | -5,954,000 | -30,462,000 | -27,222,000 | -9,966,000 | -75,821,000 | -8,361,000 | 1,258,000 | |
net increase in cash and cash equivalents | 186,521,000 | 79,239,000 | 219,489,000 | 87,830,000 | -2,175,000 | 237,810,000 | 242,910,000 | |||
cash and cash equivalents beginning of period | 766,103,000 | 766,103,000 | 766,103,000 | 474,054,000 | 474,054,000 | 474,054,000 | 130,008,000 | 130,008,000 | 130,008,000 | |
cash and cash equivalents end of period | 952,624,000 | 845,342,000 | 743,402,000 | 693,543,000 | 561,884,000 | 471,879,000 | 367,818,000 | 372,918,000 | 355,081,000 | |
changes in working capital and other | -65,383,000 | -48,991,000 | -81,648,000 | 50,736,000 | 28,686,000 | -4,889,000 | 41,328,000 | 105,603,000 | 161,076,000 | -25,015,000 |
payment for acquisitions, net of cash acquired | -124,112,000 | -115,789,000 | -86,813,000 | |||||||
repayment of bank borrowings | -2,813,000 | -1,875,000 | -937,000 | |||||||
payment of revolver issuance costs | -1,993,000 | -1,993,000 | -6,017,000 | |||||||
distribution to former non-controlling interest holder | -3,010,000 | -3,010,000 | -3,010,000 | |||||||
non-cash investing and financing activities: | ||||||||||
unpaid purchases of property and equipment | 1,164,000 | 316,000 | 1,415,000 | 387,000 | 1,482,000 | 612,000 | 1,480,000 | 1,059,000 | 155,000 | 422,000 |
reduction of lease liabilities and right-of-use assets from lease termination | -8,667,000 | |||||||||
right-of-use assets obtained in exchange of lease liabilities | 27,349,000 | 24,163,000 | 884,000 | 28,461,000 | 8,498,000 | 11,161,000 | ||||
tra revaluation | 3,761,000 | 3,761,000 | 3,761,000 | 18,337,000 | 18,337,000 | |||||
stock-based compensation tax benefits | 1,698,000 | |||||||||
fair value of contingent considerations for acquisitions | 29,930,000 | 28,930,000 | ||||||||
acquisition deferred purchase price | 2,799,000 | 2,931,000 | ||||||||
unpaid debt issuance cost | 2,300,000 | |||||||||
net decrease in cash and cash equivalents | -22,701,000 | |||||||||
unpaid purchase of intangible assets | 372,000 | |||||||||
due to related parties | ||||||||||
proceeds from the disposition of property and equipment | 24,000 | |||||||||
purchase of intangible assets | ||||||||||
proceeds from bank borrowings and long-term debt | ||||||||||
payment of debt issuance cost | ||||||||||
distribution to non-controlling interest holders | -6,112,000 | -6,112,000 | -5,314,000 | -64,365,000 | ||||||
net proceeds from issuance of class b shares | ||||||||||
net transfers (to) from flex | ||||||||||
net transfers to flex | ||||||||||
reclassification of redeemable non-controlling interest | 622,292,000 | 622,292,000 | ||||||||
depreciation and amortization | 3,883,000 | 941,000 | 3,138,000 | 2,020,000 | 1,046,000 | 3,594,000 | ||||
payment for business acquisition, net of cash acquired | -110,165,000 | |||||||||
non-cash investing activities: | ||||||||||
non-cash financing activity: | ||||||||||
provision for credit losses | ||||||||||
repayments of bank borrowings and long-term debt | -2,813,000 | |||||||||
net transfers (to) from parent | -8,335,000 | -8,335,000 | 1,258,000 | |||||||
effect of exchange rate on cash and cash equivalents | ||||||||||
non-cash investing activity: | ||||||||||
unpaid purchases of intangibles | 500,000 | |||||||||
capitalized offering costs | 2,534,000 | |||||||||
legal settlement paid by parent | ||||||||||
net increase in cash | 225,073,000 | 71,011,000 | ||||||||
provision for doubtful accounts | ||||||||||
proceeds from bank borrowings and long term debt | ||||||||||
pre-ipo distributions to non-controlling interest holders | ||||||||||
dividend distribution to parent | ||||||||||
cash beginning of period | 29,070,000 | |||||||||
cash end of period | 100,081,000 | |||||||||
legal settlement paid by parent, net of insurance recoveries | 20,428,000 |