Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net (loss) income $ (85,716) $ 106
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization expense 23,550 22,097
Stock-based compensation expense 203,541 785
(Gain) loss on disposal of property and equipment (6,307) 510
Loss on extinguishment of debt 3,183 1,918
Amortization of deferred financing costs 698 827
Non-cash lease expense 17,182 17,026
Deferred income tax (38,440) 4,085
Changes in assets and liabilities:    
Accounts receivable (3,201) 242
Inventory 41 1,113
Prepaid expenses and other current assets (2,776) 270
Accounts payable 14,926 (2,348)
Accrued expenses 8,614 21,751
Deferred revenue 1,838 (289)
Operating lease liability (16,446) (14,021)
Other noncurrent assets and liabilities (1,012) (219)
Net cash provided by operating activities 119,675 53,853
Cash flows from investing activities:    
Purchases of property and equipment (44,194) (27,405)
Acquisition of car wash operations, net of cash acquired (44,652) (5,991)
Proceeds from sale of property and equipment 22,201 3,893
Net cash used in investing activities (66,645) (29,503)
Cash flows from financing activities:    
Proceeds from issuance of common stock pursuant to initial public offering 468,750  
Proceeds from exercise of stock options 121  
Payments for repurchases of common stock (308) (329)
Proceeds from secondary offering for employee tax withholdings 14,874 0
Tax withholdings paid on behalf of employees for secondary offering (14,874) 0
Proceeds from debt borrowings 0 45,625
Proceeds from revolving line of credit 0 111,681
Payments on debt borrowings (454,872) (4,200)
Payments on revolving line of credit 0 (125,681)
Payments of debt extinguishment costs (28) 0
Payments of deferred financing costs (226) 0
Principal payments on finance lease obligations (240) (61)
Payments of issuance costs pursuant to initial public offering (25,761) 0
Net cash provided by (used in) financing activities (12,564) 27,035
Net change in cash and cash equivalents during period 40,466 51,385
Cash and cash equivalents, and restricted cash at beginning of period 117,874 6,705
Cash and cash equivalents, and restricted cash at end of period 158,340 58,090
Supplemental disclosure of cash flow information:    
Cash paid for interest 27,577 18,901
Cash paid for income taxes 5,594 204
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment in accounts payable 8,782 5,015
Issuance Costs Pursuant To Initial Public Offering In Accounts Payable And Other Accrued Expenses $ 3,433 $ 0