Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2021
Jul. 09, 2021
Sep. 30, 2022
Cash Flows From Operating Activities      
Net income (loss) $ (20,431) $ 6,131 $ (432,400)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 20,541 1,782 40,713
Goodwill impairment 0 0 384,379
Provision for losses 254 1,172 41,927
Change in fair value of warrant liabilities (10,116) 5,504 (15,316)
Change in fair value of contract derivatives, net (489) 662 2,247
Other expense (income) 60 (616) 2,120
Share-based payment arrangements 24,821 18 14,143
Deferred income tax benefit (5,684) 0 (11,350)
Increase (decrease) in operating capital:      
Increase in advances (28,690) (7,314) (25,133)
Decrease (increase) in due from affiliates 1,481 (1,839) 0
Decrease (increase) in other assets (16,444) 2,129 (5,978)
Increase (decrease) in accounts payable and accrued expenses (12,617) 2,327 545
Increase (decrease) in funding commitments (498) 3,100 (1,785)
Increase in due to affiliates 0 761 0
Increase (decrease) in other liabilities (109) 539 (1,249)
Net cash provided by (used in) operating activities (47,921) 14,356 (7,137)
Cash Flows From Investing Activities      
Return of investments in loan pool participation and loan principal repayments 351 832 780
Payments to acquire loans and participations in loan pools (254) (1,170) (2,058)
Payments to acquire property and equipment (871) (1,066) (1,918)
Payments to acquire Sunlight Financial LLC, net of cash acquired (304,570) 0 0
Net cash used in investing activities (305,344) (1,404) (3,196)
Cash Flows From Financing Activities      
Proceeds from borrowings under line of credit 0 20,746 0
Repayments of borrowings under line of credit 0 (14,758) 0
Proceeds from issuance of private placement 250,000 0 0
Payments of stock issuance costs (19,618) 0 0
Payments for share-based payment tax withholding (18,591) 0 (136)
Payments for repurchase of common stock 0 0 (10,452)
Payment of capital distributions 0 (7,522) (1,182)
Payment of debt issuance costs 0 (491) 0
Net cash provided by (used in) financing activities 211,791 (2,025) (11,770)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash (141,474) 10,927 (22,103)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 216,519 52,705 93,900
Cash, Cash Equivalents, and Restricted Cash, End of Period 75,045 216,519 71,797
Supplemental Disclosure of Cash Flow Information      
Cash paid during the period for interest 263 537 941
Cash paid during the period for income taxes, net 0 0 4,951
Noncash Investing and Financing Activities      
Distributions declared, but not paid 0 0 1,521
Preferred dividends, paid in-kind 0 58,709 0
Change in temporary equity redemption value 0 195,665 0
Capital expenditures incurred but not yet paid 0 0 250
Share-based payment tax withholding 0 0 $ 187
Sunlight Financial LLC      
Cash Flows From Financing Activities      
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period $ 63,632    
Cash, Cash Equivalents, and Restricted Cash, End of Period   $ 63,632