Company: HFFG
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001680873-25-000036
Chunk: 39

Company: HF Foods Group Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 39
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ENSIVE LOSS(1,530)(559)Less: net income attributable to noncontrolling interests115 135 NET LOSS AND COMPREHENSIVE LOSS ATTRIBUTABLE TO HF FOODS GROUP INC.$(1,645)$(694)LOSS PER COMMON SHARE - BASIC$(0.03)$(0.01)LOSS PER COMMON SHARE - DILUTED$(0.03)$(0.01)WEIGHTED AVERAGE SHARES - BASIC52,737,650 52,155,968 WEIGHTED AVERAGE SHARES - DILUTED52,737,650 52,155,968 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.2

HF Foods Group Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(In thousands)(Unaudited) 

Three Months Ended March 31,20252024Cash flows from operating activities:Net loss$(1,530)$(559)Adjustments to reconcile net loss to net cash provided by operating activities:Depreciation and amortization expense6,758 6,676 Provision (credit) for expected credit losses619 (40)Deferred tax benefit(1,084)(471)Change in fair value of interest rate swap contracts1,184 (1,970)Stock-based compensation374 738 Non-cash lease expense1,220 935 Lease guarantee income— (115)Other non-cash (income) expense(129)39 Changes in operating assets and liabilities:Accounts receivable(4,314)(2,141)Accounts receivable - related parties(96)13 Inventories(8,265)(2,290)Prepaid expenses and other current assets3,665 782 Other long-term assets283 368 Checks issued not presented for payment (696)4,169 Accounts payable11,653 6,074 Accounts payable - related parties337 (254)Operating lease liabilities(913)(897)Accrued expenses and other liabilities(2,118)167 Net cash provided by operating activities6,948 11,224 Cash flows from investing activities:Purchase of property and equipment(3,574)(2,585)Proceeds from sale of property and equipment10 — Net cash used in investing activities(3,564)(2,585)Cash flows from financing activities:Proceeds from line of credit315,008 345,697