Anika therapeutics, inc. (ANIK)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income

5,793

4,051

9,200

9,435

4,507

7,718

7,599

10,091

-6,686

8,067

6,887

11,369

5,493

8,085

8,952

8,615

6,895

11,043

8,380

7,819

3,516

7,815

6,170

9,302

15,030

6,654

4,957

5,894

3,068

4,463

1,645

3,736

1,912

2,883

2,976

2,282

324

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

2,761

1,532

1,516

1,466

1,477

1,477

1,513

1,447

1,473

1,066

1,202

1,008

1,014

957

876

959

942

975

973

913

914

1,129

1,210

1,167

1,198

1,192

1,308

1,068

1,202

1,160

1,182

1,195

986

1,059

1,002

1,020

920

Non-cash operating lease cost

340

-

-

-

297

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill impairment

18,144

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of contingent consideration

-24,522

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of fixed assets

-

0

-206

0

-721

20

0

-30

-142

-150

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on impairment of intangible asset

318

86

22

0

281

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

-207

1,947

1,311

1,443

1,386

982

1,177

1,322

7,565

1,867

1,475

1,283

1,182

1,116

798

661

817

663

498

509

555

410

390

377

427

111

368

365

422

237

280

312

320

289

319

282

300

Deferred income taxes

550

-147

821

244

-124

-612

-1,268

138

-75

-2,141

354

204

385

506

-319

-807

555

-731

412

-251

-177

815

357

-33

-323

-

-

-129

-139

1,002

-1,026

96

-82

873

287

939

-111

Provision (recovery) for doubtful accounts

-15

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for inventory

831

550

461

220

381

346

80

747

3,246

86

322

23

264

395

78

99

82

61

81

38

30

157

72

115

31

5

-64

-28

258

520

626

114

49

785

104

-173

711

Amortization of acquisition related inventory step-up

2,081

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of premium and accretion of discount on investments and cash equivalents

-

-

-

-

363

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-57

0

934

389

-71

4,871

4,436

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

394

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-2,004

-912

458

4,782

-2,489

222

-1,210

3,804

-5,730

1,714

-6,837

9,050

-6,601

6,097

-2,828

9,966

-7,034

-1,554

4,161

3,150

-761

-2,738

1,649

2,331

-2,140

2,256

-2,871

4,577

-6,373

4,988

-1,609

1,250

-358

276

1,102

4,372

-2,753

Inventories

3,632

-1,015

3,567

1,416

1,617

1,686

-99

2,066

3,924

1,853

2,927

1,310

431

-1,491

791

1,651

787

3,021

414

-780

284

-949

-106

1,013

2,016

-607

1,106

355

1,969

-63

-1,280

1,944

1,769

291

-1,053

162

374

Prepaid expenses, other current and long-term assets

445

2,081

-84

-538

182

405

-514

-281

-509

532

767

899

-744

1,253

-169

-453

267

314

56

18

-477

-401

-194

-334

345

224

171

1

-705

195

160

-914

324

-492

-821

-214

580

Prepaid income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,199

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

421

1,102

571

-1,402

496

778

-2,255

-14

-180

1,860

-332

342

2,020

331

-1,138

-623

-3,629

4,655

411

-73

632

242

-49

-994

51

498

-753

-476

1,354

-479

-2,229

306

-476

-341

-3,610

-1,621

-1,021

Operating lease liabilities

-310

-269

-262

-265

-269

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses, other current and long-term liabilities

-3,233

4,486

619

628

-1,928

804

609

-3,370

3,270

-1,207

707

994

-1,807

491

645

1,752

-1,306

-79

144

111

-375

-199

-239

355

-1,104

265

628

1,080

-2,351

2,293

47

421

-1,341

991

561

455

-966

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

-117

112

64

62

-27

-2,113

-645

-719

-705

-725

-708

-716

-716

-716

1,670

-541

-674

-668

Income taxes

166

-1,462

6

-539

910

1,080

1,645

-325

-1,478

-278

-1,658

2,308

-5

-56

-327

-964

-2,205

-273

2,563

3,194

0

664

756

1,915

5,099

-614

1,206

1,394

-1,834

-129

-281

1,894

-215

-918

956

409

2

Long-term deposits and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-8

-8

-8

-

-8

-8

-8

-16

-145

-8

-8

Other long-term liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-455

438

-87

-33

22

-54

-44

-45

-67

-56

-43

-45

-102

-31

-239

-10

-5

5

-5

16

1

-5

-13

Net cash provided by operating activities

1,045

13,022

10,051

5,470

8,462

10,013

10,842

4,471

9,592

6,981

12,100

6,271

15,460

6,070

11,316

-982

8,044

16,121

8,906

10,900

3,984

14,755

7,385

4,240

13,596

8,005

7,526

3,564

6,068

4,812

2,201

5,224

-1,689

7,307

2,976

-1,396

1,285

Acquisition of Parcus Medical and Arthrosurface, net of cash acquired

92,983

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of investments

14,990

58,772

15,000

14,500

58,094

11,500

9,750

9,500

15,250

10,250

11,250

7,500

12,500

8,750

10,000

13,500

14,250

9,500

4,500

8,750

1,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of investments

13,787

17,480

12,472

14,915

58,981

13,918

63,683

1,500

12,500

8,500

12,000

13,250

11,250

6,999

9,751

13,000

9,499

15,242

7,991

14,768

7,250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

284

111

135

-

-

-

-

-

-

-

-

Purchases of property and equipment

723

268

428

1,101

1,030

163

1,210

740

2,543

2,474

2,589

2,242

1,675

1,406

2,739

3,451

6,418

7,197

894

878

256

632

242

400

276

205

125

74

35

212

146

921

224

446

298

579

76

Net cash used in investing activities

-92,503

41,024

2,100

-1,516

-1,917

-2,581

-55,143

7,260

207

-724

-3,339

-7,992

-425

345

-2,490

-2,951

-1,667

-12,939

-4,385

-6,896

-6,006

12,616

-20,241

-400

-276

-548

158

37

99

-212

-146

-921

-224

-446

-298

-579

-76

Cash flows from financing activities:
Repurchases of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

25,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-57

0

934

389

-71

4,871

4,436

92

756

72

-64

909

-857

6

394

-

-

-

-

Cash paid for tax withheld on vested restricted stock awards

141

48

120

1

124

55

0

0

1,735

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,400

400

400

400

400

400

400

400

400

400

400

400

Proceeds from exercises of equity awards

-

326

21,819

1

5

0

0

2,374

512

4

101

168

41

19

66

254

668

-1

106

5

964

675

17

294

1,067

121

1,804

30

1,097

57

184

32

114

8

0

122

28

Tax benefit from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

64

-

-

-

-

-

-

-

-

Net cash used in financing activities

-141

278

21,699

-30,000

-119

-55

0

-27,626

-1,223

4

101

168

41

19

66

254

-24,332

-878

49

5

1,898

1,064

-53

-1,182

5,504

-8,185

2,161

-426

761

-347

-158

-361

108

-117

-399

-277

-371

Exchange rate impact on cash

-31

-242

124

-61

46

-160

79

145

-35

35

224

59

31

-220

30

-33

85

-66

-21

109

-230

-52

-197

62

2

6

69

-0

-32

-41

50

-35

30

-15

-58

3

38

Increase (decrease) in cash and cash equivalents

-91,630

54,082

33,974

-26,107

6,472

7,217

-44,222

-15,750

8,541

6,296

9,086

-1,494

15,107

6,214

8,922

-3,712

-17,870

2,238

4,549

4,118

-354

28,383

-13,107

2,719

18,827

-721

9,914

3,174

6,898

4,211

1,946

3,906

-1,774

6,728

2,219

-2,249

876

Supplemental disclosure of cash flow information:
Right-of-use assets obtained in exchange for operating lease liabilities as of January 1, 2019

544

0

0

23,613

497

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash Investing Activities:
Purchases of property and equipment included in accounts payable and accrued expenses

55

5

-79

-35

246

154

-265

255

207

683

15

-888

2,081

783

-1,654

1,304

824

-248

2,081

92

24

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Consideration for acquisitions included in accounts payable and accrued expenses

2,085

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition related contingent consideration

69,076

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Build-to-suit lease agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-102

1,343

347

135

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounting Standards Update 2016-02 [Member]
Right-of-use assets obtained in exchange for operating lease liabilities as of January 1, 2019

-

-

-

-

24,110

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-