| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities: | ||||||||||
Net income (loss) | ||||||||||
48,148 | 51,569 | 29,376 | -64,500 | -40,074 | -35,547 | 24,399 | 22,526 | 21,594 | 4,680 | 7,403 |
Less: Discontinued operations, net of income taxes | ||||||||||
- | - | - | -63,121 | -27,348 | -30,003 | 50,060 | - | -2,253 | -4,593 | - |
Loss on sale of discontinued operations | ||||||||||
- | - | - | - | - | - | - | - | -7,674 | - | - |
Net income (loss) from continuing operations | ||||||||||
- | - | - | -1,379 | -12,726 | -5,544 | -25,661 | - | 31,521 | 9,273 | - |
Adjustments to reconcile net income (loss) to net cash from operating activities: | ||||||||||
Stock-based compensation | ||||||||||
16,300 | 13,253 | 11,653 | 14,128 | 8,694 | 8,694 | 8,499 | 8,937 | 5,756 | 13,918 | 10,568 |
Warrant-related stock-based compensation | ||||||||||
- | - | - | - | - | - | - | 4,286 | 1,932 | - | - |
Depreciation and amortization of acquired intangible assets | ||||||||||
44,208 | 38,589 | 38,139 | 38,688 | 22,590 | 22,164 | 21,973 | 23,011 | 7,456 | 15,793 | 7,252 |
Impairment of intangible asset | ||||||||||
50,900 | 0 | 0 | - | - | - | - | 0 | - | - | - |
Reduction of right-of-use lease assets | ||||||||||
4,425 | 0 | 0 | - | - | - | - | - | - | - | - |
Restructuring (non-cash) | ||||||||||
0 | 0 | 1,569 | -364 | 0 | - | - | - | - | - | - |
Excess tax benefits from stock-based award activity | ||||||||||
- | - | - | - | - | 6,398 | 4,313 | 23,041 | 1,260 | 7,032 | 607 |
Loss on disposal of assets, net | ||||||||||
- | - | - | - | - | - | - | - | - | -1,262 | -642 |
Foreign currency translation gains, net | ||||||||||
- | - | - | - | - | - | - | - | - | 1,436 | - |
Deferred income taxes | ||||||||||
-67,549 | -3,039 | -16,159 | -18,055 | -12,607 | -9,858 | -11,601 | -8,738 | -18,870 | 19 | 2,814 |
Gain on resolution of contingent liability | ||||||||||
- | - | - | - | - | - | - | - | 1,500 | - | - |
Amortization of debt issuance costs | ||||||||||
-1,042 | -833 | -1,099 | -2,014 | -1,589 | -3,772 | -3,007 | 194 | 89 | - | - |
Amortization of debt issuance costs | ||||||||||
- | - | - | - | 1,133 | 1,059 | 1,099 | 820 | - | - | - |
Common stock retired relating to litigation settlement | ||||||||||
- | - | - | - | - | - | - | - | - | -2,099 | - |
Accretion of debt discounts | ||||||||||
228 | 163 | 1,947 | 4,690 | 3,866 | 3,594 | 2,826 | 325 | - | 365 | 206 |
Loss on debt extinguishment and modification expense | ||||||||||
0 | -1,534 | -20,400 | -1,036 | -398 | 0 | -1,593 | 0 | - | - | - |
Gain on sale of a business | ||||||||||
3,256 | 0 | 0 | - | - | - | - | - | - | - | - |
Revaluation of acquisition-related contingent consideration liability | ||||||||||
- | - | - | 391 | 0 | 0 | - | - | - | - | - |
Loss on derivative instrument | ||||||||||
- | - | - | - | - | - | -11,652 | -2,346 | - | - | - |
Impairment loss on equity investment in privately-held company | ||||||||||
- | - | - | - | - | - | 3,711 | 0 | - | - | - |
Earn-out contingent liability adjustments | ||||||||||
- | - | - | - | - | - | - | 0 | 3,000 | 5,000 | - |
Loss on investments, net | ||||||||||
- | - | - | - | - | - | - | - | - | - | -4,714 |
Other | ||||||||||
-734 | -73 | -30 | -19 | -203 | -77 | -622 | -31 | -18 | -3 | -171 |
Cash provided (used) by changes in operating assets and liabilities: | ||||||||||
Cash segregated under federal or other regulations | ||||||||||
- | - | - | - | - | 0 | - | - | - | - | - |
Accounts receivable | ||||||||||
-871 | 4,286 | 483 | 2,340 | 1,862 | -47 | 47 | 597 | 5,734 | -9,274 | 13,043 |
Commissions receivable | ||||||||||
471 | -1,260 | 678 | -184 | 0 | 0 | - | - | - | - | - |
Other receivables | ||||||||||
-4,506 | 3,851 | 204 | -22,875 | -651 | -367 | -1,671 | 665 | -643 | -1,852 | 2,104 |
Inventories | ||||||||||
- | - | - | - | - | - | - | 0 | - | - | - |
Prepaid expenses and other current assets | ||||||||||
-10,537 | 815 | 869 | -3,741 | 493 | 3,457 | -2,407 | 5,862 | -284 | -636 | 759 |
Other long-term assets | ||||||||||
-3,377 | -3,450 | 12,281 | 887 | 15 | -191 | -247 | -1,981 | 258 | 201 | -712 |
Accounts payable | ||||||||||
29 | -615 | -123 | -153 | 369 | -258 | 16 | -1,600 | 26,253 | -3,506 | 641 |
Commissions and advisory fees payable | ||||||||||
432 | -2,614 | 1,226 | -395 | 0 | 0 | - | - | - | - | - |
Lease liabilities | ||||||||||
7,335 | 0 | 0 | - | - | - | - | - | - | - | - |
Deferred revenue | ||||||||||
-17,367 | 9,930 | -3,248 | 582 | 1,875 | 1,130 | 2,609 | 4,170 | -83 | - | - |
Accrued expenses and other current and long-term liabilities | ||||||||||
3,045 | 114 | 1,407 | 21,195 | 10,643 | 4,548 | 7,701 | 21,095 | -23,806 | 6,785 | 11,390 |
Net cash provided by operating activities | ||||||||||
92,804 | 105,548 | 72,846 | 85,970 | 24,308 | 20,128 | 28,011 | 48,831 | 25,263 | 49,906 | 30,000 |
Investing activities: | ||||||||||
Business acquisition, net of cash acquired | ||||||||||
166,560 | 0 | 0 | 1,788 | 569,709 | 0 | 4,892 | 279,386 | - | 8,000 | 395 |
Equity investment in privately-held company | ||||||||||
- | - | - | - | - | - | 4,000 | 0 | - | - | - |
Purchases of property and equipment | ||||||||||
10,501 | 7,633 | 5,039 | 3,812 | 1,512 | 2,037 | 2,352 | 3,752 | 2,679 | 2,894 | 2,435 |
Proceeds from Divestiture of Businesses, Net of Cash Divested | ||||||||||
7,467 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from sales of investments | ||||||||||
0 | 0 | 249 | 0 | 156,506 | 28,535 | 25,812 | 203,493 | 63,166 | 52,801 | 9,202 |
Change in restricted cash | ||||||||||
- | - | - | - | - | 0 | -2,491 | -252 | -649 | -230 | 50 |
Proceeds from sale of assets | ||||||||||
- | - | - | - | - | - | - | - | - | 307 | 623 |
Proceeds from maturities of investments | ||||||||||
0 | 0 | 7,252 | 12,807 | 296,455 | 255,994 | 213,616 | 36,753 | 160,161 | 191,976 | 187,654 |
Purchases of investments | ||||||||||
0 | 0 | 409 | 8,767 | 214,257 | 336,495 | 351,883 | 122,433 | 336,770 | 200,493 | 190,178 |
Net cash used by investing activities | ||||||||||
-169,594 | -7,633 | 2,053 | -1,560 | -332,517 | -54,003 | -121,208 | -165,073 | -115,473 | 33,927 | 4,421 |
Financing activities: | ||||||||||
Proceeds from issuance of convertible notes, net of debt issuance costs of $6,432 | ||||||||||
- | - | - | - | - | - | 194,818 | 0 | - | - | - |
Proceeds from credit facilities, net of debt issuance costs and debt discount | ||||||||||
131,489 | 0 | 365,836 | 0 | 378,270 | 36,556 | 6,000 | 96,704 | - | - | - |
Repurchase of convertible notes | ||||||||||
0 | 0 | 172,827 | 20,667 | 0 | 0 | - | - | - | - | - |
Payments on credit facilities | ||||||||||
313 | 80,000 | 290,000 | 140,000 | 51,940 | 56,000 | 10,000 | 25,504 | - | - | - |
Repayment of note payable with related party | ||||||||||
0 | 0 | 3,200 | 3,200 | 0 | 0 | - | - | - | - | - |
Debt issuance costs on credit facility | ||||||||||
- | - | - | - | - | - | 28 | 0 | - | - | - |
Stock repurchases | ||||||||||
28,399 | 0 | 0 | - | 7,735 | 38,650 | 10,006 | 0 | - | - | - |
Payments for Repurchase of Redeemable Noncontrolling Interest | ||||||||||
24,900 | 0 | 0 | - | - | - | - | - | - | - | - |
Excess tax benefits from stock-based award activity | ||||||||||
- | - | - | - | - | 6,398 | 4,313 | 23,041 | 1,260 | 7,032 | 607 |
Proceeds from stock option exercises | ||||||||||
4,387 | 12,773 | 40,271 | 2,216 | 2,409 | 6,730 | 2,826 | 9,099 | 17,049 | 2,191 | 5 |
Proceeds from issuance of stock through employee stock purchase plan | ||||||||||
2,212 | 2,100 | 1,429 | 1,402 | 1,193 | 1,376 | 1,065 | 601 | 377 | 350 | 399 |
Proceeds from issuance of stock upon warrant exercise | ||||||||||
- | - | - | - | - | - | 9,620 | 0 | - | - | - |
Proceeds from sale of common stock | ||||||||||
- | - | - | - | - | - | - | - | 7,000 | - | - |
Repayment of capital lease obligation | ||||||||||
- | - | - | - | - | - | - | - | 221 | 589 | 564 |
Tax payments from shares withheld for equity awards | ||||||||||
5,652 | 8,362 | 9,095 | 1,752 | 1,545 | 2,875 | 2,405 | 1,318 | 1,786 | 4,201 | 1,054 |
Contingent consideration payments for business acquisition | ||||||||||
943 | 1,315 | 946 | 0 | 0 | - | - | - | 423 | 4,577 | - |
Other | ||||||||||
0 | 0 | -30 | 0 | 0 | - | - | - | - | - | - |
Net cash provided (used) by financing activities | ||||||||||
77,836 | -74,804 | -68,562 | -162,001 | 320,652 | -46,465 | 196,203 | 102,623 | 23,256 | 206 | -607 |
Net cash provided by continuing operations | ||||||||||
1,046 | 23,111 | 6,337 | -77,591 | 12,443 | -80,340 | 103,006 | - | - | - | - |
Discontinued operations: | ||||||||||
Net cash provided by operating activities from discontinued operations | ||||||||||
- | - | - | 14,047 | 22,126 | 41,406 | 56,741 | - | -6,156 | -4,034 | - |
Net cash provided by investing activities from discontinued operations | ||||||||||
0 | 0 | 1,028 | 83,608 | -540 | -47,933 | -182,483 | - | -638 | -8,110 | - |
Net cash used by financing activities from discontinued operations | ||||||||||
- | - | - | -25,000 | -17,000 | 8,886 | 74,401 | - | - | - | - |
Net cash provided by discontinued operations | ||||||||||
- | - | - | 72,655 | 4,586 | 2,359 | -51,341 | - | -6,794 | -12,144 | - |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
38 | -56 | 78 | -26 | -17 | 0 | 0 | - | - | - | - |
Net increase (decrease) in cash, cash equivalents, and restricted cash | ||||||||||
1,084 | 23,055 | 7,443 | -4,962 | 17,012 | -77,981 | 51,665 | -13,619 | -73,748 | 71,895 | 33,814 |
Liabilities assumed in purchase transaction | ||||||||||
- | - | - | - | - | - | - | - | - | 8,231 | -56 |
Contingent earn-out consideration from acquisition (financing) | ||||||||||
- | - | - | - | - | - | - | 0 | -3,000 | 5,000 | - |
Cash paid for: | ||||||||||
Cash paid for income taxes | ||||||||||
3,106 | 1,806 | 1,267 | 2,012 | 614 | 684 | 343 | 3,071 | 809 | -364 | 34 |
Cash paid for interest | ||||||||||
18,852 | 15,335 | 23,316 | 32,377 | 8,994 | 9,469 | 6,944 | 3,527 | 48 | 24 | - |
Non-cash investing activities | ||||||||||
Purchases of property and equipment through leasehold incentives (investing) | ||||||||||
- | - | - | - | - | 120 | 1,006 | 841 | - | - | - |
Stock issued in purchase transaction | ||||||||||
- | - | - | - | - | - | - | - | - | - | 809 |