Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| Cash from operating activities |
|
|
| Net income |
$ 4,320
|
$ 660
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
3,500
|
2,996
|
| Purchased investment premium, net of amortization |
62
|
(14)
|
| Amortization of deferred financing costs |
16
|
16
|
| Loss on disposal of property and equipment |
1
|
28
|
| Stock-based compensation |
1,318
|
1,097
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(1,148)
|
(1,303)
|
| Prepaid expenses and other current assets |
441
|
402
|
| Other assets |
(766)
|
5
|
| Accounts payable |
415
|
(19)
|
| Accrued employee expenses |
(3,842)
|
(1,662)
|
| Accrued expenses |
611
|
473
|
| Deferred revenue |
(1,334)
|
1,059
|
| Other liabilities |
(252)
|
69
|
| Net cash provided by operating activities |
3,342
|
3,807
|
| Cash from investing activities |
|
|
| Purchases of property and equipment |
(263)
|
(392)
|
| Additions to capitalized software |
(2,936)
|
(2,991)
|
| Purchases of investment securities |
(15,573)
|
(6,537)
|
| Sales of investment securities |
5
|
0
|
| Maturities of investment securities |
8,296
|
4,445
|
| Net cash used in investing activities |
(10,471)
|
(5,475)
|
| Cash from financing activities |
|
|
| Proceeds from stock option exercises |
470
|
145
|
| Tax withholding for net share settlement |
(901)
|
(1,207)
|
| Proceeds from issuance of debt |
32
|
29
|
| Principal payments on debt |
(32)
|
(29)
|
| Net cash used in financing activities |
(431)
|
(1,062)
|
| Net decrease in cash, cash equivalents and restricted cash |
(7,560)
|
(2,730)
|
| Cash, cash equivalents and restricted cash |
|
|
| Beginning of period |
16,537
|
11,126
|
| End of period |
8,977
|
8,396
|
| Noncash investing and financing activities |
|
|
| Purchases of property and equipment included in accounts payable and accrued expenses |
114
|
58
|
| Additions of capitalized software included in accrued employee expenses |
243
|
196
|
| Stock-based compensation capitalized for software development |
235
|
138
|
| Tax withholding for net share settlement included in accrued employee expenses |
749
|
0
|
| Total cash, cash equivalents and restricted cash |
$ 16,537
|
$ 11,126
|