Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2021 |
Dec. 31, 2020 |
| Cash flows from operating activities |
|
|
| Net loss for the period |
$ (344)
|
$ (5,357)
|
| Adjustments for: |
|
|
| Depreciation and amortization |
4,545
|
4,859
|
| Unrealized foreign exchange (gain) loss |
(781)
|
1,122
|
| Share-based compensation expense |
6,653
|
3,129
|
| Finance costs |
353
|
843
|
| Deferred income tax recovery |
(1,069)
|
(130)
|
| Impairment charges |
428
|
1,798
|
| Derivative contracts designated as cash flow hedges |
(990)
|
599
|
| Changes in cash held in trust |
(1,147)
|
2,254
|
| Changes in non-cash balances related to operations |
18,872
|
(13,331)
|
| Interest paid |
(391)
|
(812)
|
| Net cash provided by (used in) operating activities |
26,129
|
(5,026)
|
| Cash flows from investing activities |
|
|
| Acquisition of property and equipment |
(904)
|
(450)
|
| Additions to intangible assets |
(880)
|
(1,837)
|
| Net cash used in investing activities |
(1,784)
|
(2,287)
|
| Cash flows from financing activities |
|
|
| Proceeds from issuance of share capital, net of issuance costs |
23,275
|
0
|
| Proceeds from long term debt |
0
|
40,000
|
| Repayment of long term debt |
(15,000)
|
(25,000)
|
| Payment of principal portion of lease liabilities |
(1,231)
|
(1,293)
|
| Proceeds from exercise of share options |
187
|
67
|
| Shares repurchased and cancelled |
0
|
(1,042)
|
| Purchase of shares held in trust |
(3,257)
|
0
|
| Taxes paid on net settlement of RSUs |
(2,527)
|
(1,209)
|
| Net cash provided by financing activities |
1,447
|
11,523
|
| Effect of exchange rate fluctuations on cash held |
786
|
(1,105)
|
| Net increase in cash and cash equivalents |
26,578
|
3,105
|
| Cash and cash equivalents at beginning of the period |
73,070
|
69,965
|
| Cash and cash equivalents at end of the period |
99,648
|
73,070
|
| Interest Received |
126
|
365
|
| Taxes Received |
1,768
|
(0)
|
| Taxes Paid |
$ (166)
|
$ (1,852)
|