Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
Dec. 31, 2019 |
Dec. 31, 2018 |
| Operating activities |
|
|
| Net income (loss) |
$ 9,052
|
$ (12,151)
|
| Loss on discontinued operations |
4,042
|
1,948
|
| Income (loss) from continuing operations |
13,094
|
(10,203)
|
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
| Stock-based compensation expense |
3,230
|
3,923
|
| Depreciation and amortization |
1,856
|
2,016
|
| Operating lease amortization, net of accretion |
1,321
|
0
|
| Accretion of net premium on short-term investments |
75
|
0
|
| Unrealized gain on non-marketable equity investments |
(62)
|
(1,259)
|
| Equity in net income of equity method investee |
(797)
|
0
|
| Other |
(1)
|
(14)
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
25,835
|
3,390
|
| Deferred income taxes |
(409)
|
445
|
| Deferred costs |
(1,961)
|
(7,040)
|
| Prepaid expenses and other current assets |
(3,992)
|
216
|
| Other assets |
21
|
(116)
|
| Trade accounts payable |
(15,054)
|
9,812
|
| Accrued expenses and other liabilities |
3,945
|
(9,575)
|
| Income taxes payable |
130
|
39
|
| Deferred rent |
0
|
91
|
| Operating lease liabilities |
(1,754)
|
0
|
| Deferred revenue |
9,036
|
13,234
|
| Net cash provided by operating activities |
34,513
|
4,959
|
| Investing activities |
|
|
| Purchases of property and equipment |
(1,078)
|
(445)
|
| Purchases of short-term investments |
(54,439)
|
(15,862)
|
| Purchase of long-term investments |
(3,500)
|
0
|
| Proceeds from sales and maturities of short-term investments |
24,067
|
20,342
|
| Net cash provided by (used in) investing activities |
(34,950)
|
4,035
|
| Financing activities |
|
|
| Proceeds from exercise of stock options |
8,306
|
26
|
| Tax withholdings related to net share settlements of restricted stock units |
(1,148)
|
(1,559)
|
| Repurchase of common stock |
(4,019)
|
0
|
| Net cash provided by (used in) financing activities |
3,139
|
(1,533)
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
(85)
|
(360)
|
| Net increase in cash, cash equivalents and restricted cash, continuing operations |
2,617
|
7,101
|
| Net cash used in discontinued operations |
(3,975)
|
(2,319)
|
| Cash, cash equivalents and restricted cash, beginning of period |
29,225
|
20,099
|
| Cash, cash equivalents and restricted cash, end of period |
27,867
|
24,881
|
| Supplemental disclosure of cash flow information |
|
|
| Income taxes paid, net |
1,279
|
586
|
| Non-cash investing: Investment in LLC acquired in exchange for sale of Advertising business |
15,600
|
0
|
| Cash flows from discontinued operations: |
|
|
| Net cash used in operating activities |
(3,569)
|
(2,319)
|
| Net cash used in financing activities |
(406)
|
0
|
| Net cash transferred from continuing operations |
3,975
|
2,319
|
| Net change in cash and cash equivalents from discontinued operations |
0
|
0
|
| Cash and cash equivalents of discontinued operations, beginning of period |
0
|
0
|
| Cash and cash equivalents of discontinued operations, end of period |
0
|
0
|
| Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets |
|
|
| Total cash and cash equivalents |
$ 27,867
|
$ 24,881
|