ALPHATEC HOLDINGS, INC. ATEC Cash Flow

Alphatec holdings, inc. (ATEC)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Operating activities:
Net loss
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss
-	-	-	-	-	-28,975	-9,292	-3,074	1,305	-2,294	-15,703	-26,287	-28,823	-29,925	-35,474	-182,018	-180,732	-178,676	-169,046	-11,822	-10,770	-12,882	-73,016	-84,485	-86,251	-82,227	-27,175	-15,134	-16,847	-15,459	-26,070	-24,905	-21,575	-22,181	0	0	0
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
8,247	7,578	7,077	6,744	6,688	6,789	7,011	7,218	7,499	7,481	7,497	8,721	10,348	12,364	15,335	16,825	18,753	19,031	18,478	18,417	17,696	18,385	20,319	23,243	24,869	26,277	26,333	24,758	24,248	23,792	22,360	21,517	20,676	19,876	0	0	0
Stock-based compensation
12,912	10,956	9,428	7,500	6,297	5,304	5,754	4,529	3,792	3,981	1,785	2,482	2,376	1,626	1,713	488	1,448	2,643	3,353	4,933	4,863	4,554	4,887	4,238	3,838	4,078	4,312	4,459	4,327	3,690	2,707	2,187	2,258	2,425	0	0	0
Amortization of debt discount and debt issuance costs
4,444	3,709	2,848	2,030	2,001	2,087	2,225	2,428	2,633	2,761	2,417	2,493	2,915	3,630	4,385	4,761	4,733	4,695	5,976	6,838	7,664	6,700	4,437	2,515	669	368	355	357	946	919	943	957	380	375	0	0	0
Amortization of right-of-use asset
972	930	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for doubtful accounts
171	242	223	176	175	164	112	18	-121	-164	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	66	823	779	584	544	526	344	522	622	447	525	404	226	115	520	859	1,358	1,906	1,484	1,094	0	0	0
Provision for excess and obsolete inventory
8,349	8,624	8,572	5,644	4,385	3,733	0	0	0	-	2,815	4,181	5,324	5,663	5,115	2,956	2,218	2,156	2,515	3,775	3,409	3,539	3,363	9,889	10,667	11,652	13,520	6,949	7,511	6,658	5,179	5,972	4,717	4,564	0	0	0
Deferred income tax benefit
-	-438	-176	-165	-1,432	-1,405	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on settlement
-	-	-	-	-	6,168	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Beneficial conversion feature from convertible notes
-	242	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0
Loss (Gain) on disposal of instruments
-434	-127	-883	-481	14	-130	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion to contingent consideration
-	289	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-cash items
-	-	-	-	-	-	-	-	-	-	-	687	-745	261	-802	4,130	4,242	4,363	5,627	-1,002	-2,115	-1,913	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Other non-cash items
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Changes in operating assets and liabilities:
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-2,350	-3,450	-4,400	-4,400	-4,400	1,449	2,549	-12,100	6,750	2,001	2,001	17,750	0	0	0	0	-	-	-	-	-	-	-	-
Accounts receivable, net
1,784	1,298	3,449	2,412	1,974	396	-1,326	-2,041	-2,643	-4,153	-2,696	-10,525	-12,953	-8,000	-8,380	-3,264	663	-1,197	-2,074	-2,512	2,325	1,028	-137	3,304	-1,294	1,940	4,690	2,563	977	-382	-283	205	1,554	5,004	0	0	0
Inventories, net
15,055	14,712	12,648	10,072	6,679	5,014	1,565	2,030	2,221	-258	2,313	6,281	2,948	5,742	7,977	4,218	7,818	5,456	3,416	3,839	3,795	4,348	2,821	1,153	2,259	4,407	6,898	9,005	8,678	7,853	4,451	5,792	390	-1,084	0	0	0
Prepaid expenses and other current assets
995	-186	594	32	-147	268	-924	-518	-905	-3,080	-2,022	-2,393	-2,143	-1,074	-2,398	-2,689	-3,026	-2,472	-2,591	-3,298	-5,270	-4,863	-2,966	-2,543	16	-450	-2,114	-1,082	-640	-1,681	-2,061	-2,246	-2,112	-1,341	0	0	0
Other assets
-	-262	-85	-91	58	90	-3	24	-94	-348	-297	-346	-502	-191	-170	-72	29	6	59	25	145	276	195	205	103	-64	-335	-543	-523	-992	-1,102	-1,580	-1,652	-1,216	0	0	0
Other long-term assets
-	3,308	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued expenses and other
5,075	6,647	5,306	1,110	864	1,677	4,909	510	-718	-6,327	-15,283	-6,813	-8,838	-3,498	6,507	1,331	-513	-6,698	-13,062	-13,297	-37,502	-34,774	20,315	29,341	55,505	55,171	2,068	-6,030	-1,117	-1,764	-771	907	-4,366	1,246	0	0	0
Accounts payable
6,098	6,003	2,635	4,958	3,527	16	1,927	334	2,941	-2,592	-3,215	-11,488	-13,494	-4,865	-1,761	4,629	6,600	3,209	-1,058	-1,530	-5,565	-1,042	-2,193	-3,878	-714	-3,853	-3,882	3,720	2,181	-1,799	1,712	481	-935	2,545	0	0	0
Lease liability
-995	2,239	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term liabilities
-4,397	-4,397	-4,135	-4,201	-4,373	-4,367	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-358	-138	-482	-510	74	354	655	416	-413	-640	-783	-628	0	0	0
Net cash used in operating activities
-42,225	-33,121	-33,142	-31,539	-28,252	-25,608	-17,135	-10,965	-7,978	-8,729	-17,947	-26,506	-16,220	-9,959	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,365	13,408	0	0	0
Investing activities:
Net cash (used in) provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Cash paid for acquisition of Brazilian subsidiary
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Purchases of property and equipment
14,593	13,032	13,654	7,844	7,172	6,514	3,708	4,635	6,029	7,596	8,791	8,554	9,188	8,897	10,800	10,682	10,471	12,247	12,287	13,681	12,968	11,300	11,128	11,546	13,627	14,352	14,611	15,329	14,646	15,646	12,183	12,322	10,062	8,206	0	0	0
Cash paid for acquisition of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	750	0	0	0	-	-	-	-	690	0	0	0
Cash received from sale of equipment
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	30,350	24,500	52,500	47,500	28,000	0	0	0	-	-	-	-	-	-	-	-
Cash received from sale of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	516	0	0	0	0	300	300	300	300	0	0	0	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-14,593	-13,032	-13,904	-9,003	-8,655	-21,669	-18,381	-17,530	-18,600	-6,495	-8,276	60,986	61,152	61,959	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-10,562	-9,516	0	0	0
Financing activities:
Proceeds from sale of stock, net
-	-	-	-	-	-	-	-	54,173	24,386	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of common stock, net
2,796	1,977	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	76	16	23	119	104	0	0	0
Borrowings under lines of credit
117,821	114,710	104,378	100,179	94,459	90,459	93,501	93,630	94,482	96,244	94,788	95,441	107,798	118,482	130,301	138,275	137,511	141,583	146,524	157,429	162,997	163,067	167,405	164,977	158,974	154,622	147,634	142,835	152,318	121,232	83,569	49,063	5,503	2,350	0	0	0
Repayments under lines of credit
116,520	112,934	102,573	97,847	92,637	89,993	92,968	94,408	96,195	98,443	98,008	114,498	127,340	134,792	145,053	139,444	138,218	144,567	151,392	159,435	159,732	156,106	153,906	174,686	171,959	168,855	164,645	136,823	132,413	99,853	79,457	46,872	17,853	17,346	0	0	0
Principal payments on capital lease obligations
30	27	31	48	70	96	306	339	444	572	545	691	759	798	798	763	749	747	716	695	842	766	-666	889	430	434	0	0	0	-	-	-	0	-	-	-	0
Debt issuance costs
-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on term loan
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on term loan and notes payable
-	-	-	-	0	-	-	-	-	-	-	-	-53,429	-54,444	-55,833	-8,430	-8,282	-8,176	-8,164	-7,287	-6,583	-5,837	-6,490	-4,123	-3,512	-2,654	0	0	0	-	-	-	0	-	-	-	0
Net cash used in financing activities
67,846	64,183	69,689	14,117	5,600	53,885	55,216	54,140	48,647	17,821	14,550	-26,412	-28,098	-43,392	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,470	-6,915	0	0	0
Net cash used in financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Effect of exchange rate changes on cash
19	29	89	83	81	-20	-26	319	158	276	1,389	1,717	982	-85	-1,559	-2,079	-1,878	149	-87	-469	1	-1,073	-694	-531	-45	-288	83	222	169	902	1,298	1,213	1,049	521	0	0	0
Net decrease in cash
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of cash flow information:
Cash paid for interest
6,258	5,969	6,096	5,573	5,406	5,141	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	4,814	5,944	6,727	7,368	8,072	7,761	7,689	7,627	7,488	6,975	6,552	5,885	5,288	4,824	4,226	3,973	3,552	3,271	2,938	2,592	0	0	0	-	-	-	-
Cash paid for income taxes
163	161	127	164	151	134	126	110	-85	107	90	93	472	920	961	1,155	1,002	621	658	634	688	565	1,463	847	964	1,780	1,160	1,792	1,713	989	0	0	0	-	-	-	-
Net increase (decrease) in cash
-	-	-	-	-	-	-	25,964	22,227	2,873	-10,284	9,785	17,816	8,523	15,378	424	-3,639	-8,506	-9,667	-10,085	-12,364	-1,610	1,515	6,035	4,471	-896	-7,287	-9,075	2,434	1,575	3,797	262	-4,618	-2,502	0	0	0
Supplemental disclosure of noncash investing and financing activities:
Purchases of property and equipment in accounts payable
1,787	1,275	960	2,630	1,210	940	-527	593	-2,699	436	4,365	591	1,823	2,668	408	4,374	5,932	2,323	1,879	-432	813	1,638	1,643	1,709	-544	1,513	255	490	1,730	1,367	0	0	0	-	-	-	-
Capital lease additions included in property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,225	0	0	0	-	-	-	-
Non-cash debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	650	500	500	500	0	0	0	0	-	-	-	-	-	-	-	-
Initial fair value of warrant liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,280	10,368	10,368	10,368	0	0	0	0	-	-	-	-	-	-	-	-
Initial fair value of warrant liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,368	10,368	10,368	0	0	0	0	-	-	-	-	-	-	-	-
SafeOp Surgical, Inc.
Cash paid for acquisition of SafeOp Surgical, Inc.
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issued for achievement of SafeOp contingent consideration
-	2,889	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-