Alliance Entertainment Holding Corporation (Nasdaq: AENT)
(“Alliance Entertainment”, “Company”), a distributor and wholesaler
of the world’s largest in stock selection of music, movies, video
games, electronics, arcades, and collectibles, has reported its
financial and operational results for the fiscal fourth quarter and
year ended June 30, 2023.
Fourth Quarter and Subsequent 2023
Operational Highlights
-
Concurrent with a $4.0 million public offering, the Company’s Class
A common stock and warrants were approved for listing on the Nasdaq
Capital Market.
-
Distribution Solutions, a division of Alliance Entertainment
partnered with Future Today, a leading distribution company in the
digital space to expand their reach and offer viewers even more
options for its licensed and owned video content.
-
Partnered with Atari® and retro home arcade company, Arcade1Up, for
the launch of the Arcade1Up Atari 50th Anniversary Deluxe Arcade
Machine for the home through its COKeM International video game
division.
-
Shipped over 2.0 million units representing $32.0 million in K-POP
sales during the twelve months ending July 31, 2023, a 55% increase
over the previous year, with exponential sales growth expected to
continue with several other major K-POP acts scheduled to be
released throughout the balance of 2023.
-
Company’s Mill Creek Entertainment announced exclusive digital and
physical release of Believe Entertainment’s supernatural thriller
Nefarious, on Blu-ray™ and DVD following successful Premium
Video-on-Demand (“VOD”) rollout.
-
Company’s AMPED Distribution received a remarkable 20 nominations
at the 2023 International Bluegrass Music Awards, further
solidifying AMPED Distribution's commitment to supporting and
promoting the very best in bluegrass music.
-
2023 Record Store Day on Saturday, April 22, 2023 broke a sales
record for most vinyl sold in a single day with more than 800,000
units of vinyl created and shipped to participating independent
record stores and retail sales expected to surpass $32
million.
Bruce Ogilvie, Chairman of Alliance
Entertainment, commented, “The fourth quarter was highlighted by
our Nasdaq uplisting in conjunction with a $4.0 public offering.
Uplisting to the Nasdaq was the most effective method for us to
elevate the Company's public profile, expand our shareholder base,
improve liquidity and enhance shareholder value. As a public
company, we are now well positioned to pursue future strategic
combinations that further diversify our products offerings, and to
invest in our operations and proprietary technology. Throughout the
year we have continued to build on our foundation as one of the
largest physical media and entertainment product distributors in
the world, securing new partnerships and shifting toward larger
scale automation in our operations.
“During the fourth quarter we signed several
partnerships of note. We expanded our existing relationship with
Future Today, developer and operator of a portfolio of hundreds of
owned & operated channels on advertising video on-demand
platforms, which currently publishes and syndicates Distribution
Solutions’ content, allowing us to increase our reach on the
ad-supported streaming digital platforms. Future Today will create,
launch, and manage two ad-supported Apps for Alliance: MOVIESPREE™
and NCircle TV.
“Our COKeM International video game division,
the leader in U.S. distribution of video games and related
products, partnered with Atari® and retro home arcade company,
Arcade1Up, for the launch of the Arcade1Up Atari 50th Anniversary
Deluxe Arcade Machine for the home. COKeM launched the over
5-foot-tall cabinet for pre-sale online beginning September 5th at
major retailers including Best Buy, Walmart, Target, and GameStop.
This is another opportunity for Alliance Entertainment to support
our retailers by offering this one-of-a-kind arcade experience to
engage with consumers in the marketplace,” concluded Ogilvie.
Jeff Walker, Chief Executive Officer of Alliance
Entertainment, added, “Although economic conditions have
stabilized, we continued to see retailers reacting relatively
conservatively with their inventory positions. However, as economic
conditions stabilized, our B2B revenues improved to -8% year over
year in Q4. As well, the decline in demand for physical gaming
products presents an opportunity as we typically benefit from
industry consolidation, and while we captured an increase in the
average selling price in Gaming, it was not enough to offset the
negative impact of decreased volume. Consumer Products, including
revenue from our acquisition of Think3Fold, increased $22 million,
or 37%, from $58 million to $80 million versus the prior year,
benefiting from an increase in both the average selling price and
volume.
“Looking ahead, we continue to expand and
diversify by adding brands, product categories, and retail
partnerships in combination with various cost-cutting and
automation initiatives. To support this growth, we are investing in
automating facilities and upgrading proprietary software, which
began to show significant improvements in fiscal Q4. As a public
company with strong cash flow and with access to capital markets,
we are well positioned to grow through acquisitions, enhance Direct
to consumer (“DTC”) relationships, and expand product offerings. We
believe that in combination with our cost-cutting initiatives we
have put in place a long-term strategy with the competitive
advantages that will position us for ongoing success. We look
forward to providing updates on our progress at the upcoming Think
Equity Conference today and in the months ahead as we commence
regular quarterly conference calls for fiscal Q1-2024,” concluded
Walker.
Fourth Quarter FY2023 Financial
Results
- Net revenues for
the fiscal fourth quarter ended June 30, 2023 were $247.1 million,
compared to $265.2 million in the same period of 2022, a decrease
of 7%, due mainly to our focus on profitable sales.
- Gross profit for
the fiscal fourth quarter ended June 30, 2023 was $30.2 million,
compared to $28.5 million in the same period of 2022, an increase
of 6%, due to the strategy of profitable sales.
- Gross profit
margin for the fiscal fourth quarter ended June 30, 2023 was 12%,
up from 11% in the same period of 2022.
- Net loss for the
fiscal third fourth ended June 30, 2023 was $1.7 million, compared
to net loss of $4.6 million for the same period of 2022.
- Adjusted EBITDA
for the fiscal fourth quarter ended June 30, 2023 was $3.4 million,
compared to Adjusted EBITDA loss of ($0.6) million for the same
period of 2022.
Fiscal Year 2023 Financial
Results
- For the year
ended June 30, 2023, net revenues were $1.2 billion, compared to
$1.4 billion for the year ended June 30, 2022, a decrease of 18%,
due mainly to macroeconomic headwinds caused by increased inflation
and interest rates causing the business to business (“B2B”)
customer base, which are primarily retailers, to react relatively
conservatively with their inventory positions due to economic
uncertainty and those retailers having their own inventory supply
chain challenges. DTC channels are facing constant competition and
it’s important for merchants to keep investing while keeping a
tight rein on inventories.
- For the year
ended June 30, 2023, gross profit was $103.9 million, compared to
$182.4 million for the year ended June 30, 2022, primarily due to
the direct relation of product costs to sales volume.
- For the year
ended June 30, 2023, gross profit margin was 9%, down from 13% for
the year ended June 30, 2022, primarily due to an inventory
adjustment to address the exorbitant landed cost experienced during
supply chain disruptions related to Covid and reduced supplier
marketing development funds (MDF).
- For the year
ended June 30, 2023, net loss was $32.5 million, compared to net
income of $28.6 million for the year ended June 30, 2022.
- For the year
ended June 30, 2023, Adjusted EBITDA loss was ($17.6) million,
compared to Adjusted EBITDA of $60.0 million for the year ended
June 30, 2022, primarily due to excessive transportation costs of
$15.3 million, arcade markdowns of $12.2 million, incremental
arcade storage fees of $4.6 million and additional reserves for
consumer products inventory of $3.7 million.
- Cash and cash
equivalents was $0.9 million at June 30, 2023, as compared to $1.5
million at June 30, 2022. The Company announced July 5, 2023, the
closing of a $4.0 million public offering.
John Kutch, Chief Financial Officer of Alliance
Entertainment, added, “For the fourth quarter of fiscal year 2023,
we were encouraged by a 9% sequential improvement in revenue from
the third quarter as the macro issues impacting us subside. Gross
profit also improved in the fourth quarter, up 6% year over year,
and 11% over the third quarter of fiscal 2023 as our cost-saving
initiatives begin to yield positive results. For the fiscal year
ended June 30, 2023, adjusted EBITDA included excessive
transportation costs, markdowns and other arcade related costs of
$35.8 million, without which our Adjusted EBITDA would be $18.2
million for the full fiscal year. We believe that as transportation
costs normalize, we utilize our investment in additional warehouse
automation combined with staffing reductions implemented in Q4, we
will continue to show ongoing improvement in the year to come.”
Non-GAAP Financial Measures: We
define Adjusted EBITDA as net gain or loss adjusted to exclude: (i)
income tax expense; (ii) other income (loss); (iii) interest
expense; and (iv) depreciation and amortization expense and (v)
other infrequent, non- recurring expenses. Our method of
calculating Adjusted EBITDA may differ from other issuers and
accordingly, this measure may not be comparable to measures used by
other issuers. We use Adjusted EBITDA to evaluate our own operating
performance and as an integral part of our planning process. We
present Adjusted EBITDA as a supplemental measure because we
believe such a measure is useful to investors as a reasonable
indicator of operating performance. We believe this measure is a
financial metric used by many investors to compare companies. This
measure is not a recognized measure of financial performance under
GAAP in the United States and should not be considered as a
substitute for operating earnings (losses), net earnings (loss)
from continuing operations or cash flows from operating activities,
as determined in accordance with GAAP. See the table below for a
reconciliation, for the periods presented, of our GAAP net income
(loss) to Adjusted EBITDA.
US-GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA
RECONCILIATION |
|
|
|
|
|
|
|
|
|
Year Ended |
|
Year Ended |
($ in
thousands) |
|
June 30, 2023 |
|
June 30, 2022 |
Net (Loss)
Income |
|
$ |
(35,404 |
) |
|
$ |
28,619 |
|
Add back: |
|
|
|
|
|
|
Interest Expense |
|
|
11,715 |
|
|
|
4,056 |
|
Income Tax (Benefit)
Expense |
|
|
(9,058 |
) |
|
|
9,423 |
|
Depreciation and
Amortization |
|
|
6,629 |
|
|
|
8,259 |
|
EBITDA |
|
|
(26,118 |
) |
|
|
50,357 |
|
Adjustments |
|
|
|
|
|
|
IC-DISC |
|
|
2,833 |
|
|
|
9,907 |
|
SPAC Merger Transaction
Cost |
|
|
5,014 |
|
|
|
(251 |
) |
Restructuring Cost |
|
|
306 |
|
|
|
— |
|
Stock-based Compensation
Expense |
|
|
216 |
|
|
|
— |
|
Change in Fair Value of
Warrants |
|
|
1 |
|
|
|
— |
|
Contingent Loss |
|
|
150 |
|
|
|
— |
|
Gain on Disposal of PPE |
|
|
(3 |
) |
|
|
— |
|
Adjusted
EBITDA |
|
$ |
(17,601 |
) |
|
$ |
60,013 |
|
|
|
|
|
|
|
|
Adjusted EBITDA for the year
ended June 30, 2023, includes the following expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Excessive International
Transportation Costs (Units Sold) |
|
$ |
8,241 |
|
|
|
— |
|
Excessive International
Transportation Costs (On Hand) |
|
|
7,100 |
|
|
|
— |
|
Markdown for Arcades Sold |
|
|
12,156 |
|
|
|
— |
|
Incremental Storage Fees
Arcades |
|
|
4,643 |
|
|
|
— |
|
Consumer Products Inventory
Reserve |
|
|
3,700 |
|
|
|
— |
|
Total |
|
$ |
35,840 |
|
|
|
— |
|
About Alliance
Entertainment
Alliance Entertainment (NASDAQ: AENT) is a
premier distributor of music, movies, and consumer electronics. We
offer over 375,000 unique in stock SKU’s, including over 57,300
exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and
video games. Complementing our vast media catalog, we also stock a
full array of related accessories, toys and collectibles. With more
than thirty-five years of distribution experience, Alliance
Entertainment serves customers of every size, providing a robust
suite of services to resellers and retailers worldwide. Our
efficient processing and essential seller tools noticeably reduce
the costs associated with administrating multiple vendor
relationships, while helping omni-channel retailers expand their
product selection and fulfillment goals. For more information,
visit www.aent.com.
Forward Looking Statements
Certain statements included in this Press
Release that are not historical facts are forward-looking
statements for purposes of the safe harbor provisions under the
United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements generally are accompanied by words such
as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” “should,” “would,” “plan,” “predict,”
“potential,” “seem,” “seek,” “future,” “outlook,” and similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding estimates and forecasts of other financial and
performance metrics and projections of market opportunity. These
statements are based on various assumptions, whether identified in
this Press Release, and on the current expectations of Alliance’s
management and are not predictions of actual performance. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as and must not be relied on by
an investor as, a guarantee, an assurance, a prediction, or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of Alliance. These forward-looking statements
are subject to a number of risks and uncertainties, including risks
relating to the anticipated growth rates and market opportunities;
changes in applicable laws or regulations; the ability of Alliance
to execute its business model, including market acceptance of its
systems and related services; Alliance’s reliance on a
concentration of suppliers for its products and services; increases
in Alliance’s costs, disruption of supply, or shortage of products
and materials; Alliance’s dependence on a concentration of
customers, and failure to add new customers or expand sales to
Alliance’s existing customers; increased Alliance inventory and
risk of obsolescence; Alliance’s significant amount of
indebtedness; Our ability to continue as a going concern absent
access to sources of liquidity; risks and failure by Alliance to
meet the covenant requirements of its revolving credit facility,
including a fixed charge coverage ratio; risks that a breach of the
revolving credit facility, including Alliance’s recent breach of
the covenant requirements, could result in the lender declaring a
default and that the full outstanding amount under the revolving
credit facility could be immediately due in full, which would have
severe adverse consequences for the Company; known or future
litigation and regulatory enforcement risks, including the
diversion of time and attention and the additional costs and
demands on Alliance’s resources; Alliance’s business being
adversely affected by increased inflation, higher interest rates
and other adverse economic, business, and/or competitive factors;
geopolitical risk and changes in applicable laws or regulations;
risk that the COVID-19 pandemic, and local, state, and federal
responses to addressing the pandemic may have an adverse effect on
our business operations, as well as our financial condition and
results of operations; substantial regulations, which are evolving,
and unfavorable changes or failure by Alliance to comply with these
regulations; product liability claims, which could harm Alliance’s
financial condition and liquidity if Alliance is not able to
successfully defend or insure against such claims; availability of
additional capital to support business growth; and the inability of
Alliance to develop and maintain effective internal controls.
For investor inquiries, please
contact:MZ GroupChris Tyson/Larry
Holub(949) 491-8235AENT@mzgroup.us
ALLIANCE ENTERTAINMENT HOLDING
CORP.CONSOLIDATED BALANCE SHEETS |
|
|
|
|
|
|
|
($ in thousands) except share
information |
|
June 30, 2023 |
|
June 30, 2022 |
Assets |
|
|
|
|
|
|
Current Assets |
|
|
|
|
|
|
Cash and Cash Equivalents |
|
$ |
865 |
|
|
$ |
1,469 |
|
Trade Receivables, Net |
|
|
104,939 |
|
|
|
98,699 |
|
Related Party Receivable |
|
|
— |
|
|
|
245 |
|
Inventory, Net |
|
|
146,763 |
|
|
|
249,439 |
|
Other Current Assets |
|
|
8,299 |
|
|
|
9,128 |
|
Total Current Assets |
|
|
260,866 |
|
|
|
358,980 |
|
Property and Equipment, Net |
|
|
13,421 |
|
|
|
3,284 |
|
Operating Lease Right-Of-Use
Assets |
|
|
4,855 |
|
|
|
8,360 |
|
Goodwill |
|
|
89,116 |
|
|
|
79,903 |
|
Intangibles, Net |
|
|
17,356 |
|
|
|
18,764 |
|
Other Long-Term Assets |
|
|
1,017 |
|
|
|
3,748 |
|
Deferred Tax Asset, Net |
|
|
2,899 |
|
|
|
— |
|
Total Assets |
|
$ |
389,530 |
|
|
$ |
473,039 |
|
Liabilities and
Stockholders' Equity |
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
|
Accounts Payable |
|
$ |
151,622 |
|
|
$ |
198,187 |
|
Accrued Expenses |
|
|
9,340 |
|
|
|
11,573 |
|
Current Portion of Operating Lease Obligations |
|
|
3,902 |
|
|
|
4,453 |
|
Current Portion of Finance Lease Obligations |
|
|
2,449 |
|
|
|
— |
|
Promissory Note |
|
|
495 |
|
|
|
— |
|
Contingent Liability |
|
|
150 |
|
|
|
— |
|
Revolving Credit Facility, Net |
|
|
133,281 |
|
|
|
135,968 |
|
Income Taxes Payable |
|
|
— |
|
|
|
418 |
|
Total Current Liabilities |
|
|
301,239 |
|
|
|
350,599 |
|
Finance Lease Obligation, Non-
Current |
|
|
7,029 |
|
|
|
3,377 |
|
Operating Lease Obligations,
Non-Current |
|
|
1,522 |
|
|
|
4,864 |
|
Warrant Liability |
|
|
206 |
|
|
|
— |
|
Deferred Tax Liability |
|
|
— |
|
|
|
5,271 |
|
Total Liabilities |
|
|
309,996 |
|
|
|
364,111 |
|
Commitments and Contingencies
(Note 11) |
|
|
|
|
|
|
Stockholders' Equity |
|
|
|
|
|
|
Preferred Stock Par Value $0.0001
per share, authorized 1,000,000 shares, 0 shares Issued and
Outstanding |
|
|
— |
|
|
|
— |
|
Common Stock: Par Value $0.0001
per share, Authorized 550,000,000 shares at June 30, 2023, and
100,000,000 at June 30, 2022; Issued and Outstanding 49,167,170
Shares as of June 30, 2023, and 47,500,000 at June 30, 2022 |
|
|
5 |
|
|
|
5 |
|
Paid In Capital |
|
|
44,542 |
|
|
|
39,995 |
|
Treasury Stock |
|
|
— |
|
|
|
(2,674 |
) |
Accumulated Other Comprehensive Loss |
|
|
(77 |
) |
|
|
(66 |
) |
Retained Earnings |
|
|
35,064 |
|
|
|
71,668 |
|
Total Stockholders' Equity |
|
|
79,534 |
|
|
|
108,928 |
|
Total Liabilities and Stockholders' Equity |
|
$ |
389,530 |
|
|
$ |
473,039 |
|
ALLIANCE ENTERTAINMENT HOLDING
CORP.CONSOLIDATED STATEMENTS OF
OPERATIONS |
|
|
|
Year Ended |
|
Year Ended |
($ in thousands except share
and per share amounts) |
|
June 30, 2023 |
|
June 30, 2022 |
Net
Revenues |
|
$ |
1,158,722 |
|
|
$ |
1,417,377 |
|
Cost of Revenues (excluding
depreciation and amortization) |
|
|
1,054,788 |
|
|
|
1,234,995 |
|
Operating
Expenses |
|
|
|
|
|
|
Distribution and Fulfillment
Expense |
|
|
62,841 |
|
|
|
64,260 |
|
Selling, General and
Administrative Expense |
|
|
59,057 |
|
|
|
58,110 |
|
Depreciation and
Amortization |
|
|
6,629 |
|
|
|
8,259 |
|
Transaction Costs |
|
|
5,014 |
|
|
|
(251 |
) |
IC DISC Commissions |
|
|
2,833 |
|
|
|
9,907 |
|
Restructuring Cost |
|
|
306 |
|
|
|
— |
|
Total Operating Expenses |
|
|
136,680 |
|
|
|
140,285 |
|
Operating (Loss) Income |
|
|
(32,746 |
) |
|
|
42,098 |
|
Other
Expenses |
|
|
|
|
|
|
Interest Expense, Net |
|
|
11,715 |
|
|
|
4,056 |
|
Change in Fair Value of
Warrants |
|
|
1 |
|
|
|
— |
|
Total Other Expenses |
|
|
11,716 |
|
|
|
4,056 |
|
(Loss) Income Before Income Tax (Benefit)
Expense |
|
|
(44,462 |
) |
|
|
38,042 |
|
Income Tax (Benefit) Expense |
|
|
(9,058 |
) |
|
|
9,423 |
|
Net (Loss) Income |
|
|
(35,404 |
) |
|
|
28,619 |
|
Other Comprehensive
(Loss) Income |
|
|
|
|
|
|
Foreign Currency Translation |
|
|
(11 |
) |
|
|
7 |
|
Total Comprehensive (Loss) Income |
|
|
(35,415 |
) |
|
|
28,626 |
|
Net (Loss) Income per Share –
Basic and Diluted |
|
$ |
(0.74 |
) |
|
$ |
0.60 |
|
Weighted Average Common Shares
Outstanding – Basic and Diluted |
|
|
48,138,393 |
|
|
|
47,500,000 |
|
ALLIANCE ENTERTAINMENT HOLDING
CORP.CONSOLIDATED STATEMENTS OF CASH
FLOWS |
|
|
|
|
|
|
|
|
|
Year Ended |
|
Year Ended |
($ in thousands) |
|
June 30, 2023 |
|
June 30, 2022 |
Cash Flows from Operating
Activities: |
|
|
|
|
|
|
Net (Loss) Income |
|
$ |
(35,404 |
) |
|
$ |
28,619 |
|
Adjustments to Reconcile Net (Loss) Income to |
|
|
|
|
|
|
Net Cash Provided by (Used in) Operating Activities: |
|
|
|
|
|
|
Inventory write-down |
|
|
10,800 |
|
|
|
— |
|
Depreciation of Property and Equipment |
|
|
2,221 |
|
|
|
3,096 |
|
Amortization of Intangible Assets |
|
|
4,408 |
|
|
|
5,163 |
|
Amortization of Deferred Financing Costs (Included in
Interest) |
|
|
167 |
|
|
|
165 |
|
Bad Debt Expense |
|
|
598 |
|
|
|
496 |
|
Deferred Income Taxes |
|
|
(8,171 |
) |
|
|
(1,177 |
) |
Stock-based Compensation Expense |
|
|
216 |
|
|
|
— |
|
Gain on Disposal of Fixed Assets |
|
|
(3 |
) |
|
|
— |
|
Changes in Assets and Liabilities, Net of Acquisitions |
|
|
|
|
|
|
Trade Receivables |
|
|
(4,626 |
) |
|
|
12,138 |
|
Related Party Receivable |
|
|
245 |
|
|
|
1,231 |
|
Inventory |
|
|
99,729 |
|
|
|
(107,778 |
) |
Income Taxes PayableReceivable |
|
|
(1,533 |
) |
|
|
(1,867 |
) |
Operating Lease Right-Of-Use Assets |
|
|
3,505 |
|
|
|
4,299 |
|
Operating Lease Obligations |
|
|
(3,893 |
) |
|
|
(4,583 |
) |
Other Assets |
|
|
5,031 |
|
|
|
(5,230 |
) |
Accounts Payable |
|
|
(68,950 |
) |
|
|
(16,146 |
) |
Accrued Expenses |
|
|
(952 |
) |
|
|
(1,980 |
) |
Net Cash Provided by (Used in) Operating
Activities |
|
|
3,388 |
|
|
$ |
(83,554 |
) |
Cash Flows from Investing
Activities: |
|
|
|
|
|
|
Cash Received for Business Acquisitions, Net of Cash Acquired |
|
|
1 |
|
|
|
— |
|
Capital Expenditures |
|
|
(825 |
) |
|
|
(50 |
) |
Net Cash Used in Investing Activities |
|
|
(824 |
) |
|
|
(50 |
) |
Cash Flows from Financing
Activities: |
|
|
|
|
|
|
Payments on Financing Leases |
|
|
(304 |
) |
|
|
(811 |
) |
Payments on Seller Notes |
|
|
— |
|
|
|
(3,750 |
) |
Payments on Revolving Credit Facility |
|
|
(1,092,306 |
) |
|
|
(1,346,442 |
) |
Borrowings on Revolving Credit Facility |
|
|
1,089,453 |
|
|
|
1,428,664 |
|
Payments on related party loans |
|
|
(7,596 |
) |
|
|
— |
|
Borrowings on related party loans |
|
|
7,596 |
|
|
|
— |
|
Proceeds from Financing advancements |
|
|
— |
|
|
|
3,377 |
|
Net Cash (Used in) Provided by Financing
Activities |
|
|
(3,157 |
) |
|
|
81,038 |
|
Net Decrease in Cash and Cash
Equivalents |
|
|
(593 |
) |
|
|
(2,566 |
) |
Net Effect of Currency
Translation on Cash and Cash Equivalents |
|
|
(11 |
) |
|
|
7 |
|
Cash, Beginning of the
Period |
|
|
1,469 |
|
|
|
4,028 |
|
Cash, End of the
Period |
|
$ |
865 |
|
|
$ |
1,469 |
|
Supplemental disclosure
for Cash Flow Information |
|
|
|
|
|
|
Cash Paid for Interest |
|
$ |
11,425 |
|
|
$ |
2,878 |
|
Cash Paid for Income Taxes |
|
$ |
648 |
|
|
$ |
9,345 |
|
Supplemental Disclosure
for Non-Cash Investing and Financing Activities |
|
|
|
|
|
|
Conversion of Treasury stock |
|
$ |
2,674 |
|
|
$ |
— |
|
Fixed Asset Financed with
Debt |
|
$ |
10,080 |
|
|
$ |
— |
|
Capital Contribution |
|
$ |
6,592 |
|
|
$ |
— |
|
Business Combination: Reverse
recapitalization |
|
$ |
(787 |
) |
|
|
— |
|
Alliance Entertainment (NASDAQ:AENT)
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Alliance Entertainment (NASDAQ:AENT)
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Von Nov 2023 bis Nov 2024