Company: ONEW
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001772921-25-000025
Chunk: 149

Company: OneWater Marine Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 149
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 acquisitions have historically been financed with our Credit Facilities and cash generated from operations. Our ability to utilize the A&R Credit Facility to fund acquisitions depends upon Adjusted EBITDA and compliance with covenants of the A&R Credit Facility. Cash needs for inventory have historically been financed with our Inventory Financing Facility. Our ability to fund inventory purchases and operations depends on the collateral levels and our compliance with the covenants of the Inventory Financing Facility. For the reporting period ended March 31, 2025, we were in compliance with all covenants under the A&R Credit Facility and the Inventory Financing Facility. 

We have no material off balance sheet arrangements.

Cash Flows

Analysis of Cash Flow Changes Between the Six Months Ended March 31, 2025 and 2024 

The following table summarizes our cash flows for the periods indicated:

Six Months Ended March 31,($ in thousands)20252024ChangeNet cash used in operating activities$(8,981)$(86,328)$77,347 Net cash (used in) provided by investing activities(6,620)29,775 (36,395)Net cash provided by financing activities63,818 21,433 42,385 Effect of exchange rate changes on cash and restricted cash(1)(5)4 Net change in cash$48,216 $(35,125)$83,341 

Operating Activities. Net cash used in operating activities was $9.0 million for the six months ended March 31, 2025 compared to net cash used in operating activities of $86.3 million for the six months ended March 31, 2024. The $77.3 million decrease in cash used in operating activities was primarily attributable to a $66.2 million decrease in the change in inventory, a $22.9 million decrease in the change in accounts receivable and a $11.6 million increase in the change in prepaid expenses and other current assets, partially offset by a $13.4 million increase in the change in customer deposits and a $7.9 million decrease in deferred income tax provision for the six months ended March 31, 2025 as compared to the six months ended March 31, 2024.

Investing Activities. Net cash used in investing activities was $6.6 million for the six months ended March 31, 2025 compared to net cash provided by investing activities of $29.8 million for the six months ended March 31, 2024. The