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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Aug. 31, 2021
Aug. 31, 2020
Aug. 31, 2019
Cash flows from operating activities      
Net income $ 9,782 $ 9,332 $ 8,583
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 3,590 2,962 2,750
Change in value of contingent consideration 486 203 109
Amortization of investment premiums 2,350 0 0
Stock-based compensation 2,750 1,577 1,078
Deferred income taxes (628) (378) (299)
Currency translation adjustments (101) 0 0
Increase (decrease) in      
Accounts receivable (2,429) (2,018) 488
Revenues in excess of billings (57) 140 (1,248)
Prepaid income taxes (42) (12) (453)
Prepaid expenses and other assets (100) (399) (94)
Accounts payable 39 221 (148)
Accrued payroll and other expenses 3,353 23 487
Billings in excess of revenues (24) (658) 414
Deferred revenue 234 (81) (30)
Net cash provided by operating activities 19,203 10,912 11,637
Cash flows from investing activities      
Purchases of property and equipment (1,627) (231) (138)
Purchases of intellectual property 0 0 (50)
Purchase of short-term investments (122,395) (67,249) 0
Proceeds from sale of short-term investments 100,229 0 0
Cash used to acquire subsidiaries 0 (9,471) 0
Cash received in acquisition 0 3,799 0
Capitalized computer software development costs (2,949) (2,353) (1,768)
Net cash used in investing activities (26,742) (75,505) (1,956)
Cash flows from financing activities      
Payment of dividends (4,811) (4,250) (4,197)
Payments on contracts payable (1,334) (1,761) (4,239)
Proceeds from the exercise of stock options 1,461 630 788
Proceeds from follow-on public offering, net 0 107,747 0
Net cash provided by (used in) financing activities (4,684) 102,366 (7,648)
Net increase (decrease) in cash and cash equivalents (12,223) 37,773 2,033
Cash and cash equivalents, beginning of year 49,207 11,434 9,401
Cash and cash equivalents, end of period 36,984 49,207 11,434
Supplemental disclosures of cash flow information      
Income taxes paid 1,857 2,353 2,673
Non-Cash Investing and Financing Activities      
Stock issued for acquisition of Lixoft 666 3,261 0
Creation of contract liabilities for acquisition of subsidiaries 0 4,528 0
Right of use assets capitalized $ 905 $ 1,499 $ 0