XML 17 R7.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (8,675) $ (5,567)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,318 5,235
Operating lease right-of-use asset expense 2,248  
Amortization of deferred loan costs 117 32
Noncash interest expense   616
Stock-based compensation expense 3,046 2,818
Foreign currency transaction (gains) losses on short-term intercompany balances 129 660
Deferred income taxes   169
Changes in operating assets and liabilities    
Billed receivables 6,593 1,211
Unbilled receivables (851) (1,329)
Prepaid expenses and other current assets (1,296) 427
Other assets (1,567) (69)
Accounts payable and accrued expenses (2,930) (1,728)
Accrued payroll and related expenses (4,970) (3,881)
Refund liabilities (314) 26
Deferred revenue (292) 388
Long-term incentive compensation payout   (5,380)
Net cash used in operating activities (2,444) (6,372)
Cash flows from investing activities:    
Business acquisition, net of cash acquired   19
Purchases of property, equipment and software, net of disposal proceeds (7,640) (5,327)
Net cash used in investing activities (7,640) (5,308)
Cash flows from financing activities:    
Repayments of credit facility (3,000) (9,500)
Proceeds from credit facility 14,400 13,500
Payment of deferred loan costs (394) (28)
Payment of earnout liability related to business acquisitions (479) (4,000)
Restricted stock repurchased from employees for withholding taxes (750) (1,279)
Repurchases of common stock (2,228)  
Proceeds from option exercises 221 3,264
Net cash provided by financing activities 7,770 1,957
Effect of exchange rates on cash and cash equivalents (55) 739
Net decrease in cash, cash equivalents and restricted cash (2,369) (8,984)
Cash, cash equivalents and restricted cash at beginning of period 14,019 18,874
Cash, cash equivalents and restricted cash at end of period 11,650 9,890
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 385 177
Cash paid during the period for income taxes, net of refunds received $ 1,638 $ 927