Company: MCFT
Filing Date: 2025-08-27
Form Type: 10-K
Source: 0000950170-25-111682
Chunk: 18

Company: MasterCraft Boat Holdings, Inc.
Filing Date: 2025-08-27
Form: 10-K
Item: Item 6
Chunk 18
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     2024

     2023

     Net cash provided by operating activities of continuing operations
      
     $
     38,222

     $
     12,200

     $
     136,630

     Less:

     Purchases of property, plant and equipment

     (9,198
     )

     (10,525
     )

     (24,563
     )

     Free cash flow
      
     $
     29,024

     $
     1,675

     $
     112,067

    (a)Represents amounts paid for legal fees and recruiting costs associated with the CEO and CFO transitions, as well as non-recurring severance costs incurred as part of the Company's strategic organizational realignment undertaken in connection with the transitions.(b)Represents non-recurring third-party costs associated with business development activities, primarily relating to consulting costs for evaluation and execution of internal growth and other strategic initiatives. The evaluation and execution of the internal growth and other strategic initiatives is a bespoke initiative, and the costs associated therewith do not constitute normal recurring cash operating expenses necessary to operate the Company’s business.(c)Reflects income tax expense at a tax rate of 20.0% for 2025 and 2024, and 23.0% for 2023.(d)Represents the Weighted average shares used for the computation of Basic and Diluted earnings (loss) per share as presented on the Consolidated Statements of Operations to calculate Adjusted Net Income per diluted share for all periods presented herein.Liquidity and Capital ResourcesOur primary liquidity and capital resource needs are to finance working capital, fund capital expenditures, service debt, fund potential acquisitions, and fund our share repurchase program. Our principal sources of liquidity are our cash balance, short-term investments, cash generated from operating activities, our revolving credit agreement and the refinancing and/or new issuance of long-term debt. We believe our cash balance, investments, cash from operations, and our ability to borrow, will be sufficient to provide for our liquidity and capital resource needs. Cash and cash equivalents totaled $28.9 million as of June 30, 2025, an increase of $21.5 million from $7.4 million as of June 30, 2024. Short-term investments totaled $50.5 million as of June 30, 2025, a decrease of $28.3 million from $78.8 million as of June 30, 2024