Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2017 |
Sep. 30, 2016 |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net loss |
$ (9,671)
|
$ (7,687)
|
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: |
|
|
| Depreciation and amortization |
7,004
|
6,782
|
| Capitalized software impairment |
256
|
|
| Stock-based compensation expense |
1,928
|
2,104
|
| Gain on sale of long-term investment |
(1,902)
|
|
| Provision for deferred income taxes |
197
|
|
| Increase in estimated value of contingent consideration |
107
|
90
|
| Changes in operating assets and liabilities, net of effect of acquisition: |
|
|
| Accounts receivable, net |
6,933
|
5,313
|
| Prepaid expenses and other assets |
(1,646)
|
(1,282)
|
| Accounts payable |
(1,668)
|
1,842
|
| Accrued expenses and other liabilities |
(2,369)
|
1,245
|
| Deferred revenue |
(2,080)
|
(1,696)
|
| Net cash (used in) provided by operating activities |
(2,911)
|
6,711
|
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Proceeds from the sale of investment |
2,645
|
|
| Purchases of property and equipment |
(5,774)
|
(4,246)
|
| Acquisition |
|
(2,500)
|
| Net cash used in investing activities |
(3,129)
|
(6,746)
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Proceeds from offering of common stock, net of underwriting costs |
20,258
|
|
| Payments of public offering issuance costs |
(212)
|
|
| Repayments of long-term debt |
(5,000)
|
|
| Repayments on capital lease obligations |
(914)
|
(1,242)
|
| Proceeds from exercise of common stock options |
1,942
|
744
|
| Treasury stock shares received to satisfy minimum withholding liabilities |
(117)
|
(128)
|
| Deferred acquisition payments |
(1,300)
|
|
| Net cash provided by (used in) financing activities |
14,657
|
(626)
|
| Effect of exchange rate changes on cash and cash equivalents |
|
(8)
|
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
8,617
|
(669)
|
| Cash and cash equivalents, beginning of period |
14,315
|
15,697
|
| Cash and cash equivalents, end of period |
22,932
|
15,028
|
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: |
|
|
| Cash paid for interest |
328
|
247
|
| Cash paid for income taxes |
572
|
439
|
| SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING TRANSACTIONS: |
|
|
| Non-cash proceeds from sale investment |
257
|
|
| Liability for estimated additional acquisition consideration |
|
567
|
| Property, equipment and service center contracts financed under capital lease |
5,832
|
982
|
| Minimum capital lease payments in accounts payable |
454
|
|
| Accrued property and equipment expenditures |
462
|
463
|
| Stock-based compensation capitalized to property and equipment |
$ 116
|
$ 142
|