Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 48

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 plan obligations and lease expenses) as well as periodic expenditures for acquisitions, stockholder returns (such as dividend payments), property, plant and equipment and any significant non-operating items;

•Cash requirements related to other notes payable and finance leases (Refer to Note 8. Term Debt, Revolving Credit Facility, and Other Notes Payable);

•Long-term cash requirements primarily related to funding long-term debt repayments and related interest payments on long-term debt (Refer to Note 8. Term Debt, Revolving Credit Facility, and Other Notes Payable);

•Long-term cash requirements related to our deferred taxes and Tax Receivable Agreement; and

•Operating lease liabilities.

Off-Balance Sheet Arrangements

Purchase Commitments

The Company has outstanding purchase commitments for specific quantities at fixed prices for certain key ingredients to economically hedge commodity input prices. Refer to Note 9. Derivative Financial Instruments, Purchase Commitments, Warrants and Fair Value.

IO Guarantees Off Balance Sheet

The Company partially guarantees loans made to IOs by Bank of America and two other banks for the purchase of routes, some of which were recorded as off-balance sheet arrangements. These loans are collateralized by the routes for which the loans are made. Accordingly, the Company has the ability to recover substantially all of the outstanding loan value upon default. Refer to Note 10. Contingencies.

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Cash Flow

The following table presents net cash provided by or used in operating activities, investing activities and financing activities for the twenty-six weeks ended June 29, 2025 and June 30, 2024.

(in millions)Twenty-six weeks ended June 29, 2025Twenty-six weeks ended June 30, 2024Net cash used in operating activities$(3.9)$(0.2)Net cash (used in) provided by investing activities$(71.3)$141.0 Net cash provided by (used in) financing activities$73.7 $(126.2)

Net cash used in operating activities for the twenty-six weeks ended June 29, 2025 was $3.9 million compared to $0.2 million for the twenty-six weeks ended June 30, 2024, with the difference largely driven by timing related to increases in accounts receivable, net of $31.8 million, increases in inventories of $20.2 million; partially offset by increases in accounts payable and accrued expenses and other of $46.6 million.

Cash used in investing activities for the twenty