Common Stock
---------------------
Accumulated
Additional Other Total
Paid-In Accumulated Comprehensive Equity
Shares Amount Capital Deficit Income (Loss) (Deficit)
----------- -------- ------------ ------------- --------------- ---------
Balance, March 31,
2024 34,544,935 $ 3 $ 2,613 $ (35,212) $ 50 $ (32,546)
Net loss -- -- -- (4,272) -- (4,272)
Out of period
adjustment
related to
reverse
recapitalization
(Note 2) -- -- 710 -- -- 710
Other
comprehensive
loss, net of tax -- -- -- -- (2,224) (2,224)
Stock Compensation 316,902 -- 450 -- -- 450
---------- ---- -------- --------- --- ---------- --------
Balance, December
31, 2024 34,861,837 $ 3 $ 3,773 $ (39,484) $ (2,174) $ (37,882)
========== ==== ======== ========= === ========== ========
Accumulated
Additional Other Total
Paid-In Accumulated Comprehensive Equity
Shares(1) Amount Capital Deficit Income (Loss) (Deficit)
----------- -------- ------------ ------------- --------------- ---------
Balance, March 31,
2023 25,000,000 $ 2 $ (1,898) $ (26,769) $ (289) $ (28,954)
Net loss -- -- -- (2,428) -- (2,428)
Other
comprehensive
loss, net of tax -- -- -- -- (188) (188)
Balance, December
31, 2023 25,000,000 $ 2 $ (1,898) $ (29,197) $ (477) $ (31,570)
========== ==== ======== ========= === ========== ========
(1) All outstanding share and per-share amounts have been restated to reflect the reverse recapitalization as established in the Business Combination Agreement as described in Note 1 to the condensed consolidated financial statements.
DIH HOLDING US, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands, unaudited)
For the Nine Months Ended December 31,
----------------------------------------------
2024 2023
--------------------- -------------------
Cash flows from
operating activities:
Net loss $ (4,272) $ (2,428)
Adjustments to
reconcile net loss to
net cash provided by
operating activities:
Depreciation and
amortization 611 230
Provision for credit
losses (427) (815)
Allowance for
inventory
obsolescence (67) 705
Stock compensation 450 --
Pension
contributions (475) (456)
Pension expense 238 201
Change in fair
value of
convertible debt
and warrant
liability 1,193 --
Foreign exchange
(gain) loss (241) 181
Noncash lease
expense 1,263 1,165
Noncash interest
expense -- 19
Deferred and other
noncash income tax
(income) expense 257 (237)
Changes in operating
assets and
liabilities:
Accounts receivable 1,762 1,298
Inventories (106) (2,186)
Due from related
parties (1,079) (294)
Due to related
parties 100 1,910
Other assets 114 (2,540)
Operating lease
liabilities (1,275) (1,352)
Accounts payable (336) 1,484
Employee
compensation 1,276 (603)
Other liabilities 157 205
Deferred revenue 1,819 807
Manufacturing
warranty
obligation 75 189
Advance payments
from customers (1,036) 4,992
Accrued expense and
other current
liabilities (849) 702
--- ---------------- ---------------
Net cash provided by
(used in) operating
activities (848) 3,177
--- ---------------- ---------------
Cash flows from
investing activities:
Purchases of
property and
equipment (444) (135)
--- ---------------- ---------------
Net cash used in
investing activities (444) (135)
--- ---------------- ---------------
Cash flows from
financing activities:
Proceeds from
issuance of
convertible debt,
net of issuance
costs 2,809 --
Payment on
convertible debt (471) --
Payments on related
party notes
payable (3,156) (4,543)
--- ---------------- ---------------
Net cash used in
financing activities (818) (4,543)
--- ---------------- ---------------
Effect of currency
translation on cash
and cash equivalents 5 5
--- ---------------- ---------------
Net decrease in cash,
and cash equivalents,
and restricted cash (2,105) (1,496)
Cash, cash equivalents
and restricted cash -
beginning of period 3,225 3,175
--- ---------------- ---------------
Cash, cash equivalents
and restricted cash-
end of period $ 1,120 $ 1,679
=== ================ ===============
Supplemental
disclosure of cash
flow information:
Interest paid $ 218 $ 442
Income tax paid $ 15 $ --
Supplemental
disclosure of non-cash
investing and
financing activity:
Accounts payable
settled upon
reverse
recapitalization $ 710 $
(MORE TO FOLLOW) Dow Jones Newswires
February 14, 2025 17:07 ET (22:07 GMT)
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