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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
May 31, 2021
May 31, 2020
Cash flows from operating activities    
Net income $ 9,477 $ 7,144
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 2,662 2,134
Change in value of contingent consideration 364 81
Amortization of investment premiums 1,752 0
Stock-based compensation 2,041 1,144
Deferred income taxes (84) 44
Currency translation adjustments 36 0
Increase (decrease) in    
Accounts receivable (5,540) (5,269)
Revenues in excess of billings (790) 396
Prepaid income taxes 478 553
Prepaid expenses and other assets (6) 7
Accounts payable (51) 324
Accrued payroll and other expenses 347 27
Accrued income taxes 16 0
Billings in excess of revenues (14) (529)
Deferred revenue 242 48
Net cash provided by operating activities 10,930 6,104
Cash flows provided by (used in) investing activities    
Purchases of property and equipment (966) (106)
Purchases of short-term investments (63,964) 0
Proceeds from sale of short-term investments 68,068 0
Cash used to acquire subsidiaries 0 (9,471)
Cash received in acquisition 0 3,799
Capitalized computer software development costs (2,273) (1,733)
Net cash provided by (used in) investing activities 865 (7,511)
Cash flows used in financing activities    
Payment of dividends (3,603) (3,181)
Proceeds from the exercise of stock options 1,412 507
Net cash used in financing activities (2,191) (2,674)
Net increase (decrease) in cash and cash equivalents 9,604 (4,081)
Cash and cash equivalents, beginning of year 49,207 11,435
Cash and cash equivalents, end of period 58,811 7,354
Supplemental disclosures of cash flow information    
Income taxes paid 893 1,614
Non-cash investing and financing activities    
Stock issued for acquisition of Lixoft 0 3,261
Creation of contract liabilities for acquisition of subsidiaries 0 4,528
Right-of-use assets capitalized $ 905 $ 1,471