Company: KEQU
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0000055529-25-000040
Chunk: 12

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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Cash flows from operating activities:Net earnings$3,159 $2,238 Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:Depreciation and amortization1,549 815 Provision for credit losses19 11 Stock-based compensation expense521 318 Deferred income taxes(154)(635)Accrued payment in kind ("PIK") interest445 — Amortization of deferred financing costs94 — Change in assets and liabilities:Receivables5,468 1,508 Inventories(2,074)1,393 Accounts payable and other accrued expenses(1,525)(5,113)Deferred revenue(1,090)563 Other, net(621)(1,892)Net cash provided by  (used in) operating activities5,791 (794)Cash flows from investing activities:Capital expenditures(771)(278)Net cash used in investing activities(771)(278)Cash flows from financing activities:Repayments on term loan(750)— Proceeds from short-term borrowings1,377 38,479 Repayments on short-term borrowings(1,869)(37,951)Payments on sale-leaseback financing transaction(207)(174)Payments on long-term lease obligations(14)(11)Net cash (used in) provided by financing activities(1,463)343 Effect of exchange rate changes on cash, cash equivalents and restricted cash(280)(23)Increase (decrease) in cash, cash equivalents and restricted cash3,277 (752)Cash, cash equivalents and restricted cash, beginning of period17,164 25,938 Cash, cash equivalents and restricted cash, end of period$20,441 $25,186 

See accompanying notes to Condensed Consolidated Financial Statements.

5

Kewaunee Scientific Corporation

Condensed Consolidated Statements of Cash Flows (Cont'd)

(Unaudited)

($ in thousands)

 Three Months EndedJuly 31, 20252024Supplemental Disclosure of Cash Flow InformationCash paid for:Interest$524 $472 Noncash investing and financing activities:Employee taxes withheld for stock-based compensation in stock$671 $— 

See accompanying notes to Condensed Consolidated Financial Statements.

6

Kewaunee Scientific Corporation

Notes to Condensed Consolidated Financial Statements

(unaudited)

A. Financial Information

The unaudited interim Cond