Anika therapeutics, inc. (ANIK)
CashFlow / TTM
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

28,479

27,193

30,860

29,259

29,915

18,722

19,071

18,359

19,637

31,816

31,834

33,899

31,145

32,547

35,505

34,933

34,137

30,758

27,530

25,321

26,804

38,319

37,158

35,944

32,537

20,575

18,383

15,071

12,913

11,757

10,177

11,508

10,054

8,466

0

0

0

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

7,275

5,991

5,936

5,933

5,914

5,910

5,499

5,188

4,749

4,290

4,181

3,855

3,806

3,734

3,752

3,849

3,803

3,775

3,929

4,166

4,421

4,706

4,768

4,867

4,768

4,772

4,740

4,614

4,740

4,525

4,423

4,243

4,068

4,002

0

0

0

Non-cash operating lease cost

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill impairment

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of contingent consideration

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of fixed assets

-

-927

-907

-701

-731

-152

-322

-322

-292

-150

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on impairment of intangible asset

426

389

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

4,494

6,087

5,122

4,988

4,867

11,046

11,931

12,229

12,190

5,807

5,056

4,379

3,757

3,392

2,939

2,639

2,487

2,225

1,972

1,865

1,734

1,607

1,307

1,285

1,272

1,268

1,394

1,306

1,253

1,151

1,203

1,241

1,210

1,190

0

0

0

Deferred income taxes

1,468

794

329

-1,760

-1,866

-1,817

-3,346

-1,724

-1,658

-1,198

1,449

776

-235

-65

-1,302

-571

-15

-747

799

744

961

815

0

0

0

-

-

-293

-67

-10

-139

1,175

2,018

1,989

0

0

0

Provision (recovery) for doubtful accounts

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for inventory

2,062

1,612

1,408

1,027

1,554

4,419

4,159

4,401

3,677

695

1,004

760

836

654

320

323

262

210

306

298

376

378

225

88

-55

171

686

1,376

1,519

1,310

1,576

1,054

765

1,427

0

0

0

Amortization of acquisition related inventory step-up

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,266

1,251

6,123

9,626

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

2,324

1,839

2,973

1,305

327

-2,914

-1,422

-7,049

-1,803

-2,674

1,709

5,718

6,634

6,201

-1,450

5,539

-1,277

4,996

3,811

1,299

481

-898

4,097

-423

1,821

-2,411

320

1,582

-1,744

4,271

-439

2,271

5,393

2,998

0

0

0

Inventories

7,600

5,585

8,286

4,620

5,270

7,577

7,744

10,770

10,014

6,521

3,177

1,041

1,382

1,738

6,250

5,873

3,442

2,939

-1,031

-1,552

241

1,974

2,315

3,528

2,870

2,823

3,367

980

2,569

2,370

2,725

2,952

1,170

-224

0

0

0

Prepaid expenses, other current and long-term assets

1,904

1,641

-35

-465

-208

-899

-772

509

1,689

1,454

2,175

1,239

-113

898

-41

184

655

-89

-804

-1,054

-1,407

-585

40

406

743

-307

-336

-347

-1,263

-234

-922

-1,904

-1,203

-947

0

0

0

Prepaid income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

692

767

443

-2,383

-995

-1,671

-589

1,334

1,690

3,890

2,361

1,555

590

-5,059

-735

814

1,364

5,625

1,212

752

-169

-750

-494

-1,198

-679

623

-354

-1,831

-1,048

-2,879

-2,741

-4,121

-6,049

-6,594

0

0

0

Operating lease liabilities

-1,106

-1,065

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses, other current and long-term liabilities

2,500

3,805

123

113

-3,885

1,313

-698

-600

3,764

-1,313

385

323

1,081

1,582

1,012

511

-1,130

-199

-319

-703

-459

-1,189

-723

144

869

-377

1,650

1,069

410

1,420

118

633

667

1,042

0

0

0

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

55

121

211

-2,014

-2,723

-3,505

-4,183

-2,795

-2,858

-2,855

-2,866

-2,858

-479

-304

-262

-213

0

0

0

Income taxes

-1,829

-1,085

1,457

3,096

3,310

922

-436

-3,739

-1,106

367

589

1,920

-1,352

-3,552

-3,769

-879

3,279

5,484

6,421

4,615

3,336

8,436

7,156

7,606

7,085

152

637

-851

-351

1,268

479

1,718

233

450

0

0

0

Long-term deposits and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

0

0

0

-

-42

-179

-179

-179

0

0

0

Other long-term liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-137

340

-152

-109

-121

-211

-213

-213

-212

-247

-222

-419

-384

-288

-251

-17

10

17

7

-0

0

0

0

Net cash provided by operating activities

29,588

37,005

33,996

34,787

33,788

34,918

31,886

33,144

34,944

40,812

39,901

39,117

31,864

24,448

34,499

32,089

43,971

39,911

38,545

37,025

30,365

39,978

33,228

33,368

32,692

25,165

21,971

16,646

18,307

10,548

13,043

13,818

7,197

10,173

0

0

0

Acquisition of Parcus Medical and Arthrosurface, net of cash acquired

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of investments

103,262

146,366

99,094

93,844

88,844

46,000

44,750

46,250

44,250

41,500

40,000

38,750

44,750

46,500

47,250

41,750

37,000

24,250

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of investments

58,654

103,848

100,286

151,497

138,082

91,601

86,183

34,500

46,250

45,000

43,499

41,250

41,000

39,249

47,492

45,732

47,500

45,251

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Purchases of property and equipment

2,520

2,827

2,722

3,504

3,143

4,656

6,967

8,346

9,848

8,980

7,912

8,062

9,271

14,014

19,805

17,960

15,387

9,225

2,660

2,009

1,532

1,553

1,125

1,008

681

441

448

469

1,316

1,504

1,738

1,890

1,547

1,400

0

0

0

Net cash used in investing activities

-50,895

39,691

-3,914

-61,157

-52,381

-50,257

-48,400

3,404

-11,848

-12,480

-11,411

-10,562

-5,521

-6,763

-20,047

-21,942

-25,887

-30,226

-4,670

-20,527

-14,032

-8,303

-21,467

-1,067

-629

-253

82

-222

-1,180

-1,504

-1,738

-1,890

-1,547

-1,400

0

0

0

Cash flows from financing activities:
Repurchases of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

25,000

25,000

25,000

25,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,266

1,251

6,123

9,626

9,329

10,157

5,357

857

1,673

59

-6

452

0

0

0

-

-

-

-

Cash paid for tax withheld on vested restricted stock awards

310

293

300

180

179

1,790

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,600

1,600

1,600

1,600

1,600

1,600

1,600

1,600

1,600

0

0

0

Proceeds from exercises of equity awards

-

22,151

21,825

6

2,379

2,886

2,890

2,991

785

314

329

294

380

1,007

987

1,027

778

1,074

1,750

1,662

1,951

2,055

1,500

3,287

3,024

3,054

2,989

1,369

1,371

388

340

155

246

160

0

0

0

Tax benefit from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Net cash used in financing activities

-8,164

-8,142

-8,475

-30,174

-27,800

-28,904

-28,845

-28,744

-950

314

329

294

380

-23,993

-24,890

-24,907

-25,156

1,074

3,016

2,913

1,725

5,332

-3,918

-1,703

-946

-5,689

2,149

-170

-105

-758

-528

-769

-685

-1,165

0

0

0

Exchange rate impact on cash

-210

-133

-51

-96

110

29

224

369

283

349

94

-100

-192

-138

16

-35

107

-208

-194

-370

-416

-184

-125

141

78

43

-4

-22

-58

5

31

-78

-39

-32

0

0

0

Increase (decrease) in cash and cash equivalents

-29,681

68,421

21,556

-56,640

-46,283

-44,214

-45,135

8,173

22,429

28,995

28,913

28,749

26,531

-6,446

-10,422

-14,795

-6,965

10,551

36,696

19,040

17,641

36,823

7,717

30,739

31,195

19,266

24,199

16,230

16,962

8,290

10,807

11,080

4,924

7,575

0

0

0

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

24,157

24,110

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-54

137

286

100

390

351

880

1,160

17

1,891

1,991

322

2,514

1,257

226

3,961

2,749

1,949

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Consideration for acquisitions included in accounts payable and accrued expenses

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition related contingent consideration

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Build-to-suit lease agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

1,723

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-