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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
May 31, 2022
May 31, 2021
Cash flows from operating activities    
Net income $ 11,522 $ 9,477
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 2,724 2,662
Change in value of contingent consideration 283 364
Amortization of investment premiums 1,493 1,752
Stock-based compensation 2,279 2,041
Deferred income taxes (46) (84)
Currency translation adjustments (251) 36
(Increase) decrease in    
Accounts receivable (8,736) (5,540)
Prepaid income taxes 690 478
Prepaid expenses and other assets 1,208 (796)
Accounts payable 32 (51)
Accrued payroll and other expenses (2,657) 363
Deferred revenue 1,432 228
Net cash provided by operating activities 9,973 10,930
Cash flows from investing activities    
Purchases of property and equipment (740) (966)
Purchases of short-term investments (70,924) (63,964)
Proceeds from sale of short-term investments 75,932 68,068
Capitalized computer software development costs (2,266) (2,273)
Net cash provided by investing activities 2,002 865
Cash flows from financing activities    
Payment of dividends (3,632) (3,603)
Payments on contracts payable (3,667) 0
Proceeds from the exercise of stock options 693 1,412
Net cash used in financing activities (6,606) (2,191)
Net increase in cash and cash equivalents 5,369 9,604
Cash and cash equivalents, beginning of year 36,984 49,207
Cash and cash equivalents, end of period 42,353 58,811
Supplemental disclosures of cash flow information    
Income taxes paid 2,001 893
Non-cash investing and financing activities    
Right of use assets capitalized $ 624 $ 905