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Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (1,185) $ (2,297)
Adjustments required to reconcile net loss to net cash provided by operating activities:    
Depreciation 809 702
Amortization of intangible assets 653 289
Equity-based compensation 3,107 2,416
Realized loss, net on sale of available-for-sale marketable securities 2 24
Amortization of premiums on available-for-sale marketable securities 105 156
Unrealized foreign exchange (gain) loss (74) 107
Changes in operating assets and liabilities:    
Trade receivables 3,375 6,802
Prepaid expenses and other assets (1,595) (3,119)
Operating lease right-of-use assets 458 284
Accrued interest on bank deposits 439 (342)
Deferred tax, net (1,016) (371)
Trade payables 140 124
Deferred revenues 392 (782)
Accrued expenses and other payables (526) (551)
Accrued payroll and related benefits 1,640 1,429
Operating lease liability (436) (298)
Accrued severance pay, net 129 95
Net cash provided by operating activities 6,417 4,668
Cash flows from investing activities:    
Acquisition of business (204)
Purchase of property and equipment (790) (623)
Investment in bank deposits (8,893) (3,846)
Proceeds from bank deposits 10,893
Investment in available-for-sale marketable securities (13,108) (5,028)
Proceeds from maturity of available-for-sale marketable securities 5,426 2,917
Proceeds from sale of available-for-sale marketable securities 3,757 2,476
Net cash used in investing activities (2,919) (4,104)
Cash flows from financing activities:    
Purchase of treasury stock (4,780) (2,536)
Proceeds from exercise of stock-based awards 1,416 1,163
Net cash used in financing activities (3,364) (1,373)
Effect of exchange rate changes on cash and cash equivalents (34) 18
Increase (decrease) in cash and cash equivalents 100 (791)
Cash and cash equivalents at the beginning of the period 22,803 22,260
Cash and cash equivalents at the end of the period 22,903 21,469
Supplemental information of cash-flow activities:    
Income and withholding taxes 1,084 1,868
Non-cash transactions:    
Property and equipment purchases incurred but unpaid at period end $ 84