Blucora, Inc. BCOR Cash Flow

Blucora, inc. (BCOR)

CashFlow / Quarterly

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 income (loss)
-315,494	17,328	-62,386	31,036	62,170	-15,700	-13,737	35,460	45,546	11,919	-16,733	3,480	30,710	-19,029	-53,952	-14,330	22,811	-56,814	-10,611	4,251	23,100	-68,033	-2,238	8,737	25,987	-1,134	-6,481	8,406	23,608	3,820	-2,398	9,698	11,406	22,874	2,075	-4,678	1,323
Less: Discontinued operations, net of income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-5,140	-40,528	-19,975	2,522	-34,470	1,597	1,840	3,685	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-680	-1,573
Net income (loss) from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-13,889	-13,424	5,645	20,289	-22,344	-12,208	2,411	19,415	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Adjustments to reconcile net income (loss) to net cash from operating activities:
Stock-based compensation
-1,201	5,136	4,639	4,082	2,443	3,694	2,874	3,730	2,955	3,219	3,132	2,737	2,565	3,512	3,364	3,023	4,229	2,720	2,074	1,995	1,905	-280	2,608	2,958	3,408	9	3,252	2,753	2,485	2,300	2,195	2,020	2,422	1,268	1,117	1,338	2,033
Warrant-related stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	4,286	-	-	-	-
Depreciation and amortization of acquired intangible assets
10,168	12,130	11,893	10,831	9,354	9,050	9,201	9,979	10,359	9,586	9,688	9,395	9,470	9,608	9,483	9,492	10,105	5,727	5,691	5,586	5,586	-5,134	9,378	9,056	8,864	2,560	7,216	6,085	6,112	6,061	6,171	6,204	4,575	1,266	1,633	2,148	2,409
Impairment of goodwill
270,600	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reduction of right-of-use lease assets
1,625	1,308	1,140	1,073	904	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring (non-cash)
-	-	-	-	-	-	-	-	-	70	97	538	864	-364	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based award activity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,067	5,484	22,081	-23,403	-4,568	11,626	22,743	-20,283	-2,440	9,194	17,842	2,159	1,831	6,993	12,058	-	-	-	787
Deferred income taxes
57,898	-44,206	-27,789	5,418	-972	-1,966	-292	-32	-749	-15,686	208	-200	-481	-5,571	-3,678	-3,679	-5,127	12,587	-7,200	-3,717	-14,277	5,763	2,551	-7,749	-10,423	-3,392	2,423	-3,964	-6,668	-1,340	-125	-1,811	-5,462	-18,872	1	0	1
Gain on resolution of contingent liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,500
Amortization of debt issuance costs
-313	-194	-301	-375	-172	-174	-172	-285	-202	-198	-177	-327	-397	-1,850	-9	-76	-79	-339	-348	-419	-483	-677	-874	-1,136	-1,085	-853	-843	-876	-435	-141	-77	85	327	-	-	-	-
Amortization of debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	413	417	610	291	286	280	276	206	288	284	281	258	258	476	107	74	118	297	331	-	-	-	-
Accretion of debt discounts
68	39	66	85	38	38	38	40	47	54	53	755	1,085	1,091	1,099	1,094	1,406	993	975	958	940	841	931	916	906	854	862	949	161	31	34	125	135	-	45	135	105
Loss on debt extinguishment and modification expense
-	-	-	-	-	0	-1	-757	-776	-636	-183	-17,801	-1,780	-1,677	-2,205	-997	3,843	-398	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on derivative instrument
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,721	-3,956	-2,323	348	1,928	-4,335	333	-272	-	-	-	-
Earn-out contingent liability adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,000	500	0	1,500
Other
-919	-226	-248	-260	0	-	-	-	-	-	-	-	-	-1	-5	0	-13	-143	-2	-58	0	1	-21	-18	-39	-14	-371	-182	-55	-52	43	4	-26	-26	-7	-18	33
Cash provided (used) by changes in operating assets and liabilities:
Cash segregated under federal or other regulations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable
9,066	-519	-3,569	-5,178	8,395	8,922	-540	-6,057	1,961	3,742	-303	-4,195	1,239	3,133	602	-4,362	2,967	1,998	-33	-4,829	4,726	16,165	-3,865	-11,330	-1,017	-8,709	8,165	-5,634	6,225	-310	2,355	1,523	-2,971	4,852	989	-1,224	1,117
Commissions receivable
-3,457	452	866	333	-1,180	-1,200	-58	-242	240	390	869	161	-742	850	486	-254	-1,266	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other receivables
3,239	-4,524	-643	619	42	7,000	-7	-554	-2,588	2,588	160	-346	-2,198	-3,219	-196	686	-20,146	515	-67	513	-1,612	3,767	228	-667	-3,695	-581	-1,270	-104	284	1,169	549	-396	-657	-1,761	-2,225	3,578	-235
Inventories
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,805	1,051	687	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other current assets
1,715	3,291	-1,570	-15,343	3,085	2,184	-908	-780	319	2,589	-2,265	66	479	2,262	-1,133	-2,161	-2,709	5,158	-1,346	251	-3,570	4,306	25	-527	-347	4,287	-2,311	-796	-3,587	6,567	-556	-1,713	1,564	565	-263	-235	-351
Other long-term assets
-2,560	-2,880	-852	-486	841	-4,352	138	-345	1,109	12,713	-91	-219	-122	-287	1,269	0	-95	-48	79	10	-26	-148	5	27	-75	-2,543	2,202	-20	114	-2,593	1,226	1,249	-1,863	108	-145	50	245
Accounts payable
17,744	2,375	649	-9,427	6,432	1,640	-2,314	-3,231	3,290	1,252	-580	-3,482	2,687	-1,304	2,642	-6,708	5,217	-4,561	3,666	-6,911	8,175	18,124	-371	-12,744	-5,267	-1,857	4,514	-5,763	3,122	744	3,113	-1,744	-3,713	20,272	-3,844	875	8,950
Commissions and advisory fees payable
-1,965	1,034	61	881	-1,544	13	-1,972	-377	-278	1,249	421	-246	-198	1,205	380	-275	-1,705	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease liabilities
-1,289	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-7,820	4,327	3,066	-20,236	-4,524	12,341	3,335	-1,533	-4,213	2,608	2,637	-3,068	-5,425	2,387	2,452	-1,647	-2,610	3,566	-761	-634	-296	1,178	507	-754	199	46	1,475	-34	1,122	987	337	792	2,054	-	-	-	-
Accrued expenses and other current and long-term liabilities
23,276	-3,550	15,440	-15,791	6,946	3,162	345	-3,949	556	458	-2,819	-4,334	8,102	1,409	-6,271	7,248	18,809	-17,506	-2,027	2,597	27,579	-12,626	-9,615	6,977	19,812	-19,475	-3,038	7,728	22,486	5,921	-808	4,808	11,174	-10,146	-560	3,226	-16,326
Net cash provided by operating activities
46,864	-3,443	-565	26,576	70,236	-35	-974	49,107	57,450	-6,384	-1,906	28,236	52,900	-2,567	-2,349	22,165	68,721	3,362	-8,854	1,613	28,187	-31,030	15,908	8,655	26,595	-38,674	17,509	17,377	31,799	9,871	7,601	12,311	19,048	12,207	4,550	10,034	-1,528
Investing activities:
Business acquisition, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	279,386	-	-	-	-
Equity investment in privately-held company
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	4,000	-	-	-	-	-	-	-	-
Purchases of property and equipment
7,715	3,614	3,949	1,695	1,243	2,293	2,738	1,662	940	1,230	1,898	746	1,165	1,164	1,120	851	677	646	241	366	259	-2,210	1,388	1,612	1,247	-714	1,019	504	1,543	976	2,282	301	193	172	298	1,018	1,191
Proceeds from sales of investments
-	-	-	-	-	-	-	-	-	0	0	0	249	0	0	0	0	139,999	2,507	11,000	3,000	1,915	5,074	9,274	12,272	-	-	-	-	18,559	5,050	16,001	163,883	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-2,204	-56	-231	-84	725	-126	-767	-240	-121	-120	-168
Purchases of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities of investments
-	-	-	-	-	-	-	-	-	0	0	160	7,092	999	7,808	4,000	0	85,756	97,293	45,163	68,243	60,698	73,800	52,573	68,923	63,339	96,879	34,724	18,674	4,628	0	12,105	20,020	77,020	38,374	14,281	30,486
Purchases of investments
-	-	-	-	-	-	-	-	-	0	0	0	409	3,620	4,488	256	403	5,145	97,022	45,257	66,833	99,432	93,014	71,634	72,415	117,112	67,337	105,357	62,077	-	-	-	-	131,993	65,166	106,425	33,186
Net cash used by investing activities
-7,715	-3,613	1,418	-166,156	-1,243	-2,293	-2,738	-1,662	-940	-1,230	-1,898	-586	5,767	-3,785	2,200	1,105	-1,080	-348,005	797	10,540	4,151	10,318	-15,528	-56,326	7,533	122,549	-132,671	-62,371	-48,715	-41,062	-51,002	21,900	-94,909	8,261	-26,969	-93,042	-3,723
Financing activities:
Proceeds from credit facilities
55,000	-	-10	121,499	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of convertible notes, net of debt issuance costs of $6,432
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-395	195,213	-	-	-	-	-	-	-	-
Proceeds from credit facilities, net of debt issuance costs and debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32,556	0	0	4,000	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of convertible notes
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	20,667	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on credit facilities
10,313	313	0	0	0	0	0	40,000	40,000	5,000	10,000	237,000	38,000	35,000	45,000	20,000	40,000	0	0	26,940	25,000	-6,000	2,000	12,000	48,000	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from loan, net of debt issuance costs of $2,343 and debt discount of $953
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	96,704	-	-	-	-
Repayment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	504	10,000	15,000	-	-	-	-
Stock repurchases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	667	1,547	1,076	4,445	8,727	4,138	25,785	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based award activity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,067	5,484	22,081	-23,403	-4,568	11,626	22,743	-20,283	-2,440	9,194	17,842	2,159	1,831	6,993	12,058	-	-	-	787
Proceeds from stock option exercises
0	576	491	3,037	283	1,035	1,352	7,852	2,534	2,043	14,232	19,762	4,234	1,075	-1	54	1,088	35	281	477	1,616	4,283	701	1,660	86	1,126	456	951	293	1,287	2,316	3,433	2,063	762	4,625	9,396	2,266
Proceeds from issuance of stock through employee stock purchase plan
-	-	-	-	-	492	904	1	703	1	766	0	662	0	840	0	562	0	585	0	608	0	711	0	665	0	604	0	461	0	412	0	189	0	170	0	207
Repayment of capital lease obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	70	151
Tax payments from shares withheld for equity awards
918	144	348	2,735	2,425	2,379	1,754	2,736	1,493	2,351	1,477	3,058	2,209	305	546	572	329	352	259	499	435	306	656	822	1,091	394	569	906	536	384	83	641	210	398	269	820	299
Contingent consideration payments for business acquisition
0	0	0	0	943	0	0	2	1,313	-	-	-	946	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	423
Net cash provided (used) by financing activities
43,769	-5,244	-11,835	98,000	-3,085	-852	502	-34,885	-39,569	-9,913	3,521	-25,911	-36,259	-37,430	-44,707	-20,518	-59,346	348,654	127	-22,554	-5,575	10,403	-9,950	-25,321	-21,597	-10,412	-4,451	-2,207	213,273	3,062	3,972	-215	95,804	1,624	11,526	7,719	2,387
Net cash provided by continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-43,782	-44,856	2,752	8,295	4,011	-7,930	-10,401	26,763	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued operations:
Net cash provided by operating activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	1,688	-1,839	4,403	9,795	15,988	502	2,910	2,726	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-2,472	-3,684
Net cash provided by investing activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	40,378	44,200	-491	-479	-334	962	-33	-1,135	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-594	-44
Net cash used by financing activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-16,000	-2,000	-2,000	-5,000	-11,980	2,010	3,190	-10,220	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	26,066	40,361	1,912	4,316	3,674	3,474	6,067	-8,629	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-3,066	-3,728
Effect of exchange rate changes on cash and cash equivalents
0	0	-20	43	15	-45	19	-24	-6	-8	43	38	5	-11	-8	-7	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash, cash equivalents, and restricted cash
82,918	-12,300	-11,002	-41,537	65,923	-3,225	-3,191	12,536	16,935	-17,535	-240	2,805	22,413	-17,727	-4,503	4,657	12,611	7,674	-4,462	-4,334	18,134	-7,950	-9,570	-72,992	12,531	22,122	-119,613	-47,201	196,357	-28,129	-39,429	33,996	19,943	22,092	-10,893	-78,355	-6,592
Contingent earn-out consideration from acquisition (financing)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,000	3,500	0	-1,500
Cash paid for:
Cash paid for income taxes
213	-48	588	1,535	1,031	710	329	310	457	254	294	435	284	-67	881	904	294	-615	346	240	643	-1,852	524	1,437	575	-1,294	617	625	395	500	190	2,010	371	-	-	-	-
Cash paid for interest
5,011	4,951	7,230	3,047	3,624	3,762	3,582	3,803	4,188	9,111	4,727	4,974	4,504	8,922	5,839	10,047	7,569	4,327	55	4,371	241	3,133	570	4,890	876	432	5,068	706	738	790	947	1,426	364	-	-	-	-
Non-cash investing activities
Purchases of property and equipment through leasehold incentives (investing)
4,959	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	120	0	0	0	1,006	-	-	-	-	-	-	-	-