CareMax, Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 8 months to Dec 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss
Adjustments to reconcile net loss to cash and cash equivalents:
Interest earned on investments held in Trust Account
Depreciation expense
Amortization expense
Amortization of debt issuance costs
Depreciation and amortization expense
Amortization of debt issuance costs and discounts
Stock-based compensation expense
Income tax benefit
Change in fair value of derivative warrant liabilities
Gain on remeasurement of contingent earnout liabilities
Loss on extinguishment of debt
Payment-in-kind interest expense
Non-cash finance lease expense
Provision for credit losses
Goodwill impairment
Amortization of right-of-use assets
Other non-cash, net
Changes in operating assets and liabilities:
Accounts receivable
Inventory
Prepaid expenses
Risk settlements due from/due to providers
Other current assets
Risk settlement assets and liabilities
Due to (from) related parties
Risk settlement liabilities
Other assets
Operating lease assets and liabilities
Operating lease liabilities
Accounts payable
Accrued expenses
Franchise tax payable
Related party liabilities
Other liabilities
Accrued interest

Net cash used in operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Principal deposited in Trust Account
Purchase of property and equipment
Return of cash held in escrow
Acquisition of businesses, net of cash acquired
Acquisition of intangible assets
Asset purchase agreement holdback payment
Purchase of noncontrolling interest ownership
Net cash used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES
Borrowings under revolving loan commitment
Loan from Paycheck Protection Program
Proceeds from issuance of Class A common stock
Issuance costs of Class A common stock
Reverse recapitalization
Recapitalization transaction
Proceeds from borrowings
Proceeds from related party borrowings
Principal payments on long-term debt
Principal payments of related party debt
Proceeds received from initial public offering, gross
Proceeds received from private placement
Principal payments of third-party debt
Payments of debt issuance costs
Debt extinguishment costs
Distributions to members
Collateral for letters of credit
Net cash provided by financing activities

Net increase in cash
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
Cash and cash equivalents - beginning of period
CASH AND CASH EQUIVALENTS - END OF PERIOD
SUPPLEMENTAL SCHEDULE OF NON-CASH ACTIVITIES:
Equity and warrant consideration issued to The Related Companies, L.P.
Equity consideration issued in acquisitions
Contingent consideration issued in business combination
Purchase of non-controlling interest through accounts payable
Payroll Protection Program loan forgiveness
Additions to construction in progress funded through accounts payable
Additions to property and equipment funded through accounts payable
Cancellation of shares held in escrow
Accrued purchase consideration
Financed equipment purchases
Financed property and equipment purchases
Reclassification of contingent consideration previously liability classified
Decrease in right-of-use assets and lease liabilities due to lease remeasurements
Right-of-use assets obtained in exchange for operating lease obligations
Right-of-use assets obtained in exchange for finance lease obligations
SUPPLEMENTAL CASH FLOW INFORMATION:
Offering costs included in accounts payable
Prepaid expenses included in accounts payable
Deferred underwriting commissions in connection with the initial public offering
Initial classification of Class A common stock subject to possible redemption
Change in initial value of Class A common stock subject to possible redemption
Cash paid for interest
Acquisition of business financed through deferred consideration
Purchase of property and equipment through long-term debt
Debt issuance and interest costs paid through long-term debt
Extinguishment of long-term debt through new debt proceeds
Acquisition of business financed through long-term debt

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