Entravision Communications Corp

NYSE:EVCUnited States

04:19 PM EST, 11/06/2024 (MT Newswires) -- ...

interest -- -- (1,078) (3,380) Payment of contingent consideration -- (3,403) (14,300) (35,113) Principal payments under finance lease obligation (36) (37) (110) (113) Proceeds from borrowings on debt -- 1 -- 212,420 Payments for debt issuance costs -- -- -- (1,777) ------- ------- ------- -------- Net cash provided by (used in) financing activities (4,535) (9,152) (49,261) (55,244) ------- ------- ------- -------- Effect of exchange rates on cash, cash equivalents and restricted cash -- (3) (2) (2) Net increase (decrease) in cash, cash equivalents and restricted cash 5,126 11,048 (15,468) (55) Cash, cash equivalents and restricted cash: Beginning 85,915 100,341 106,509 111,444 ------- ------- ------- -------- Ending $ 91,041 $111,389 $ 91,041 $ 111,389 ======= ======= ======= ======== Entravision Communications Corporation Reconciliation of Consolidated EBITDA to Net income (loss) attributable to common stockholders (In thousands; unaudited) The most directly comparable GAAP financial measure is net income (loss) attributable to common stockholders. A reconciliation of this non-GAAP measure to net income (loss) attributable to common stockholders for each of the periods presented is as follows: Three-Month Period Nine-Month Period Ended September 30, Ended September 30, ------------------- --------------------- 2024 2023 2024 2023 --------- -------- --------- ---------- Net income (loss) attributable to common stockholders $(11,980) $ 2,719 $(92,550) $ 2,771 Net income (loss) attributable to redeemable noncontrolling interest - discontinued operations -- 13 (2,779) 1 Net income (loss) attributable to noncontrolling interest - discontinued operations -- -- -- (342) Interest expense 4,087 4,346 12,648 12,464 Interest expense - discontinued operations -- 108 219 324 Interest income (646) (1,068) (1,801) (2,396) Interest income - discontinued operations -- (490) (731) (1,059) Dividend income -- -- (10) (32) Realized gain (loss) on marketable securities 1 33 110 94 (Gain) loss on debt extinguishment -- -- 91 1,556 Income tax expense 14,984 (1,012) 173 (3,055) Income tax expense - discontinued operations (125) 482 (770) 2,017 Amortization of syndication contracts 112 118 339 358 Payments on syndication contracts (108) (125) (337) (366) Non-cash stock-based compensation 3,688 7,032 12,422 17,053 Depreciation and amortization 3,882 4,733 13,049 11,948 Depreciation and amortization - discontinued operations -- 2,623 3,958 8,388 Change in fair value of contingent consideration (650) (100) (630) 621 Change in fair value of contingent consideration - discontinued operations -- (5,897) (12,568) (9,560) Impairment charge -- 989 -- 989 Impairment charge - discontinued operations -- -- 49,438 -- Non-recurring cash severance and restructuring charge 1,722 -- 4,849 612 Other operating (gain) loss - discontinued operations 125 -- 45,139 -- EBITDA attributable to redeemable noncontrolling interest - discontinued operations -- (319) (167) (736) EBITDA attributable to noncontrolling interest - discontinued operations -- -- -- (230) ------- ------ ------- ------ Consolidated EBITDA (1) $ 15,092 $14,185 $ 30,092 $41,420 ======= ====== ======= ====== (1) Consolidated EBITDA is defined on page 2. Entravision Communications Corporation Reconciliation of Free Cash Flow to Cash Flows From Operating Activities (In thousands; unaudited) The most directly comparable GAAP financial measure is cash flows from operating activities. A reconciliation of this non-GAAP measure to cash flows from operating activities for each of the periods presented is as follows: Three-Month Period Nine-Month Period Ended September 30, Ended September 30, --------------------- --------------------- 2024 2023 2024 2023 ----------- -------- -------- ----------- Cash flows from operating activities $10,851 $22,026 $61,922 $ 69,117 Cash paid for capital expenditures (2) (1,552) (5,023) (6,289) (19,881) ------ ------ ------ ------- Free cash flow (1) $ 9,299 $17,003 $55,633 $ 49,236 ====== ====== ====== ======= (1) Free cash flow is defined on page 2. (2) Capital expenditures are not part of the consolidated statement of operations.