|
FY2025
12 months to Dec 31, 2025
|
|
|---|---|
| Net income (loss) | |
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: | |
| Depreciation expense | |
| Gains on loans held for investment, net | |
| Noncash portion of fleet servicing fees | |
| Noncash lease expense | |
| Gains from disposal of medallions | |
| Change in fair value of warrant liability | |
| Deferred income taxes | |
| Changes in operating assets and liabilities: | |
| Due from related party | |
| Prepaid expenses and other current assets | |
| Accrued expenses and other liabilities | |
| Service fee payable | |
| Management fee payable | |
| Deposit liability | |
| Net cash (used in) provided by operating activities | |
| Cash flows from investing activities: | |
| Cash acquired in the Business Combination | |
| Cash acquired in Signal Taxi Acquisition | |
| Medallion disposal down payments and settlements received | |
| Purchases of rental vehicles | |
| Asset-based WAV grant receipts | |
| Purchases of property and equipment | |
| Purchases of Non-MRP+ loans | |
| Repayments on loans held for investment | |
| TML asset acquisition, net of cash acquired | |
| Net cash (used in) provided by investing activities | |
| Cash flows from financing activities: | |
| Capital distributions to DePalma Companies equityholders | |
| Payment of MAC promissory notes at closing of the Business Combination | |
| Payment of MAC transaction costs at closing of the Business Combination | |
| Distributions to noncontrolling interests | |
| Proceeds from term loan | |
| Proceeds from credit facility | |
| Payment of issuance costs on term loan and credit facility | |
| Net cash provided by (used in) financing activities | |
| Net decrease in cash and cash equivalents and restricted cash | |
| Cash and cash equivalents and restricted cash, at beginning of year | |
| Cash and cash equivalents and restricted cash, at end of year | |
| Non-Cash investing and financing activities: | |
| Intangible asset taxi medallions acquired in loan foreclosures | |
| WAV grant receivables applied to rental vehicles basis | |
| Originations of Non-MRP+ loans from medallion disposals | |
| Recognition of noncontrolling interests in the Business Combination | |
| Right-of-use assets obtained in exchange for lease liabilities |
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