v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (20,576) $ (8,805)
Adjustment to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization of assets 18,686 7,780
Equity-based compensation 2,183 795
Amortization of debt issuance costs and discounts 819 655
Equity in loss and impairment of unconsolidated entities 12 853
Provision for deferred income tax 4,222 0
Change in fair value of warrant liability 0 3,530
Loss on debt extinguishment 0 541
Payment-in-kind interest 2,479 2,407
Other non-cash (174) (1)
Change in operating assets and liabilities, net of business combination:    
Accounts receivable (3,913) 7,287
Settlement assets and obligations, net 5,184 2,583
Prepaid expenses and other current assets (194) (361)
Notes receivable (150) 418
Accounts payable and other accrued liabilities (4,909) (69)
Customer deposits and advance payments 343 (1,557)
Other assets and liabilities (292) (1,136)
Net cash provided by operating activities 3,720 14,920
Cash flows from investing activities:    
Payments for business acquisitions (184) (312)
Additions to property, equipment and software (5,352) (5,721)
Acquisitions of merchant portfolios and assets (81,240) (8,225)
Note receivable loan funding (3,000) 0
Net cash used in investing activities (89,776) (14,258)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt, net of issue discount 69,650 67,113
Repayment of long-term debt (1,825) (1,341)
Debt issuance costs 0 (322)
Borrowings under revolving credit facility 14,000 0
Distributions to members prior to July 25, 2018 recapitalization 0 (6,337)
Redemptions of membership interests prior to July 25, 2018 recapitalization 0 (74,093)
Repurchases of common stock (2,388) 0
Net cash provided by (used in) financing activities 79,437 (14,980)
Net decrease in cash and restricted cash (6,619) (14,318)
Cash and restricted cash at June 30 33,831 44,159
Cash and restricted cash at June 30 27,212 29,841
Supplemental cash flow information:    
Cash paid for interest, net of payment-in-kind interest 16,595 11,926
Non-cash investing and financing activities:    
Purchases of property, equipment and software through accounts payable 1,284 701
Intangible assets acquired by issuing non-controlling interest in a subsidiary 5,654 0
Reconciliation of cash and restricted cash:    
Total cash and restricted cash $ 33,831 $ 44,159

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