| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net loss | ||||||||
-18,072 | -7,994 | -19,842 | -2,497 | -6,457 | -6,738 | 8,809 | -5,762 | -7,672 |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||||
Depreciation and amortization | ||||||||
3,668 | 4,043 | 5,708 | 5,166 | 6,338 | 5,067 | 2,878 | - | - |
Impairment of intangible assets | ||||||||
0 | 0 | 5,777 | - | 0 | - | - | - | - |
Depreciation | ||||||||
- | - | - | - | - | - | - | - | 2,468 |
Write-off of property and of equipment, net | ||||||||
- | - | - | - | - | - | - | - | 385 |
Stock-based compensation | ||||||||
3,366 | 5,141 | 7,170 | 8,095 | 7,731 | 4,817 | 2,256 | 1,990 | 2,298 |
Amortization of intangible assets | ||||||||
- | - | - | - | - | - | - | - | 116 |
Capital loss | ||||||||
-27 | -24 | -328 | 0 | -18 | -20 | -7 | -70 | 108 |
Realized loss related to sale of available-for-sale marketable securities | ||||||||
- | - | - | - | - | - | - | -7,712 | 0 |
Increase (decrease) in accrued severance pay, net | ||||||||
105 | -29 | 349 | -8 | -13 | 0 | 12 | 75 | -180 |
Decrease in other assets | ||||||||
-1 | -1,576 | -1,205 | -100 | 532 | -6 | -98 | -41 | -43 |
Decrease in accrued interest and amortization of premium on marketable securities | ||||||||
-913 | -1,238 | -967 | -793 | -366 | -212 | -151 | 189 | -2 |
Decrease (increase) in trade receivables | ||||||||
-1,421 | 284 | 847 | 6,851 | -3,328 | 8,139 | 1,187 | 2,897 | 1,679 |
Decrease (increase) in other receivables and prepaid expenses | ||||||||
-1,350 | -699 | 2,623 | 1,321 | 2,749 | -1,159 | 970 | -1,454 | 1,661 |
Decrease (increase) in inventories | ||||||||
662 | -2,934 | 60 | -3,689 | 3,835 | -3,233 | -329 | 5,784 | 787 |
Decrease (increase) in long-term deferred taxes, net | ||||||||
34 | -234 | -1,403 | 224 | 77 | 931 | 227 | -8 | -316 |
Increase (decrease) in trade payables | ||||||||
2,582 | -3,832 | 2,218 | 3,109 | -1,618 | -1,287 | -2,456 | 1,998 | 240 |
Increase (decrease) in employees and payroll accruals | ||||||||
1,140 | -811 | 901 | 1,073 | -2,053 | 2,392 | -748 | 1,868 | 606 |
Increase (decrease) in deferred revenues | ||||||||
518 | -4,248 | 1,961 | 1,911 | -2,823 | -7,089 | 7,423 | 7,188 | 745 |
Increase (decrease) in other payables and accrued expenses | ||||||||
3,449 | -2,155 | -429 | 2,800 | -988 | 84 | -1,178 | -213 | 1,440 |
Other than temporary loss on marketable securities, net | ||||||||
- | - | - | - | - | - | - | - | 3,036 |
Net cash provided by (used in) operating activities | ||||||||
-228 | -3,464 | 4,186 | - | - | - | - | 7,351 | -392 |
Liability related to settlement of OCS grants | ||||||||
- | - | - | - | -15,886 | 15,886 | 0 | 0 | - |
Net cash provided by (used in) operating activities | ||||||||
- | - | - | 15,835 | -19,250 | 8,692 | 15,197 | - | - |
Cash flows from investing activities: | ||||||||
Redemption of (Investment in) restricted deposits | ||||||||
428 | -203 | 203 | 0 | -146 | -913 | 78 | 0 | 2 |
Redemption of (Investment in) short-term deposits | ||||||||
1,222 | -12,879 | -16,300 | 21,000 | - | - | - | - | - |
Investments in short-term bank deposits | ||||||||
- | - | - | - | 0 | 54,042 | 24,000 | 0 | 201 |
Proceeds from short-term bank deposits | ||||||||
- | - | - | - | 40,042 | 0 | 0 | 1,264 | 0 |
Purchase of property and equipment | ||||||||
2,833 | 1,582 | 2,223 | 3,391 | 2,706 | 3,820 | 2,953 | 2,334 | 3,608 |
Investment in available-for sale marketable securities | ||||||||
30,123 | 29,695 | 34,098 | 22,736 | 32,805 | 8,194 | 4,735 | 16,765 | 0 |
Proceeds from redemption or sale of marketable securities | ||||||||
26,488 | 33,208 | 22,221 | 8,266 | 2,597 | 750 | 803 | 0 | - |
Proceeds from sale of property and equipment | ||||||||
0 | 26 | 0 | - | - | - | 30 | 168 | 159 |
Proceeds from sale of property and equipment | ||||||||
- | - | - | 0 | 3,864 | 9,986 | 1,800 | 0 | 0 |
Loan granted to third party | ||||||||
- | - | - | 2,735 | 0 | 0 | - | - | - |
Repayment of loan to third party | ||||||||
- | - | - | 652 | 0 | - | - | - | - |
Acquisition of Optenet, net of cash (see schedule A below) | ||||||||
0 | 0 | 9,859 | 0 | 0 | 24,892 | 0 | 0 | - |
Net cash (used in) provided by investing activities | ||||||||
-8,118 | 15,039 | -7,862 | - | - | - | - | -4,015 | -3,652 |
Net cash (used in) provided by investing activities | ||||||||
- | - | - | -40,944 | 11,138 | -79,299 | -29,133 | - | - |
Cash flows from financing activities: | ||||||||
Issuance of shares related to secondary offering, net | ||||||||
- | - | - | - | - | - | 84,922 | 0 | 0 |
Proceeds from exercise of stock options | ||||||||
362 | 113 | 132 | 1,476 | 899 | 5,903 | 2,838 | 3,052 | 485 |
Purchase of treasury stock, net | ||||||||
0 | 3,832 | 166 | 0 | 0 | - | - | - | - |
Repayment of bank loan | ||||||||
- | - | - | - | - | 1,952 | 0 | 0 | - |
Net cash provided by (used in) financing activities | ||||||||
- | - | - | 1,476 | 899 | 3,951 | 87,760 | - | - |
Net cash provided by (used in) financing activities | ||||||||
362 | -3,719 | -34 | - | - | - | - | 3,052 | 485 |
Increase (decrease) in cash and cash equivalents | ||||||||
-7,984 | 7,856 | -3,710 | -23,633 | -7,213 | -66,656 | 73,824 | 6,388 | -3,559 |
Supplementary cash flow information: | ||||||||
Taxes | ||||||||
342 | 175 | 139 | 82 | -9 | - | - | - | - |
Cash paid (received) during the year for taxes | ||||||||
- | - | - | - | - | -48 | 100 | -168 | -80 |
Estimated net fair value of assets acquired and liabilities assumed at the date of acquisition was as follows: | ||||||||
Working capital, net (excluding cash and cash equivalents) | ||||||||
0 | 0 | -204 | - | - | -4,501 | 0 | 0 | - |
Equipment and other assets | ||||||||
0 | 0 | 152 | 0 | 0 | 597 | 0 | 0 | - |
Intangible assets | ||||||||
0 | 0 | 7,242 | 0 | 0 | 14,025 | 0 | 0 | - |
Goodwill | ||||||||
0 | 0 | 10,748 | 0 | 0 | 17,663 | 0 | 0 | - |
Deferred tax assets, net | ||||||||
- | - | - | - | - | 409 | 0 | 0 | - |
Long-term liabilities | ||||||||
- | - | - | - | - | 1,952 | 0 | 0 | - |
Total consideration | ||||||||
0 | 0 | 17,938 | - | - | 26,241 | 0 | 0 | - |
Non cash consideration | ||||||||
0 | 0 | 8,079 | - | - | 1,349 | 0 | - | - |
Non cash - Contingent Consideration (See also note 1b) | ||||||||
- | - | - | - | - | - | - | 0 | - |
Payment for acquisition, net of cash | ||||||||
0 | 0 | -9,859 | - | - | -24,892 | 0 | 0 | - |
Proceeds from exercise of stock options | ||||||||
- | - | - | - | - | 0 | 0 | - | - |