Blucora, Inc. BCOR Cash Flow

Blucora, inc. (BCOR)

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 income (loss)
-329,516	48,148	15,120	63,769	68,193	51,569	79,188	76,192	44,212	29,376	-1,572	-38,791	-56,601	-64,500	-102,285	-58,944	-40,363	-40,074	-51,293	-42,920	-38,434	-35,547	31,352	27,109	26,778	24,399	29,353	33,436	34,728	22,526	41,580	46,053	31,677	21,594	0	0	0
Less: Discontinued operations, net of income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-63,121	-92,451	-50,326	-28,511	-27,348	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-2,253	0	0	0
Net income (loss) from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-1,379	-9,834	-8,618	-11,852	-12,726	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Adjustments to reconcile net income (loss) to net cash from operating activities:
Stock-based compensation
12,656	16,300	14,858	13,093	12,741	13,253	12,778	13,036	12,043	11,653	11,946	12,178	12,464	14,128	13,336	12,046	11,018	8,694	5,694	6,228	7,191	8,694	8,983	9,627	9,422	8,499	10,790	9,733	9,000	8,937	7,905	6,827	6,145	5,756	0	0	0
Warrant-related stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,286	0	0	0	-	-	-	-
Depreciation and amortization of acquired intangible assets
45,022	44,208	41,128	38,436	37,584	38,589	39,125	39,612	39,028	38,139	38,161	37,956	38,053	38,688	34,807	31,015	27,109	22,590	11,729	15,416	18,886	22,164	29,858	27,696	24,725	21,973	25,474	24,429	24,548	23,011	18,216	13,678	9,622	7,456	0	0	0
Impairment of goodwill
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reduction of right-of-use lease assets
5,146	4,425	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring (non-cash)
-	-	-	-	-	-	-	-	-	1,569	1,135	1,038	500	-364	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based award activity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,229	-406	5,736	6,398	9,518	11,646	9,214	4,313	26,755	31,026	28,825	23,041	0	0	0	-	-	-	0
Deferred income taxes
-8,679	-67,549	-25,309	2,188	-3,262	-3,039	-16,759	-16,259	-16,427	-16,159	-6,044	-9,930	-13,409	-18,055	103	-3,419	-3,457	-12,607	-19,431	-9,680	-13,712	-9,858	-19,013	-19,141	-15,356	-11,601	-9,549	-12,097	-9,944	-8,738	-26,270	-26,144	-24,333	-18,870	0	0	0
Gain on resolution of contingent liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,500	0	0	0
Amortization of debt issuance costs
-1,183	-1,042	-1,022	-893	-803	-833	-857	-862	-904	-1,099	-2,751	-2,583	-2,332	-2,014	-503	-842	-1,185	-1,589	-1,927	-2,453	-3,170	-3,772	-3,948	-3,917	-3,657	-3,007	-2,295	-1,529	-568	194	0	0	0	-	-	-	-
Amortization of debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,731	1,604	1,467	1,133	1,048	1,050	1,054	1,059	1,111	1,081	1,273	1,099	915	775	596	820	0	0	0	-	-	-	-
Accretion of debt discounts
258	228	227	199	154	163	179	194	909	1,947	2,984	4,030	4,369	4,690	4,592	4,468	4,332	3,866	3,714	3,670	3,628	3,594	3,607	3,538	3,571	2,826	2,003	1,175	351	325	0	0	0	-	0	0	0
Loss on debt extinguishment and modification expense
-	-	-	-	-	-1,534	-2,170	-2,352	-19,396	-20,400	-21,441	-23,463	-6,659	-1,036	243	2,448	3,445	-398	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on derivative instrument
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11,652	-4,003	-4,382	-1,726	-2,346	0	0	0	-	-	-	-
Earn-out contingent liability adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	0	0	0
Other
-1,653	-734	0	0	0	-	-	-	-	-	-	-	-	-19	-161	-158	-216	-203	-59	-78	-38	-77	-92	-442	-606	-622	-660	-246	-60	-31	-5	-55	-77	-18	0	0	0
Cash provided (used) by changes in operating assets and liabilities:
Cash segregated under federal or other regulations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable
-200	-871	8,570	11,599	10,720	4,286	-894	-657	1,205	483	-126	779	612	2,340	1,205	570	103	1,862	16,029	12,197	5,696	-47	-24,921	-12,891	-7,195	47	8,446	2,636	9,793	597	5,759	4,393	1,646	5,734	0	0	0
Commissions receivable
-1,806	471	-1,181	-2,105	-2,680	-1,260	330	1,257	1,660	678	1,138	755	340	-184	-1,034	-1,520	-1,266	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other receivables
-1,309	-4,506	7,018	7,654	6,481	3,851	-561	-394	-186	204	-5,603	-5,959	-4,927	-22,875	-19,141	-19,012	-19,185	-651	2,601	2,896	1,716	-367	-4,715	-6,213	-5,650	-1,671	79	1,898	1,606	665	-2,265	-5,039	-1,065	-643	0	0	0
Inventories
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other current assets
-11,907	-10,537	-11,644	-10,982	3,581	815	1,220	-137	709	869	542	1,674	-553	-3,741	-845	-1,058	1,354	493	-359	1,012	234	3,457	3,438	1,102	833	-2,407	-127	1,628	711	5,862	-140	153	1,631	-284	0	0	0
Other long-term assets
-6,778	-3,377	-4,849	-3,859	-3,718	-3,450	13,615	13,386	13,512	12,281	-719	641	860	887	1,126	-64	-54	15	-85	-159	-142	-191	-2,586	-389	-436	-247	-297	-1,273	-4	-1,981	720	-651	-1,850	258	0	0	0
Accounts payable
11,341	29	-706	-3,669	2,527	-615	-1,003	731	480	-123	-2,679	543	-2,683	-153	-3,410	-2,386	-2,589	369	23,054	19,017	13,184	-258	-20,239	-15,354	-8,373	16	2,617	1,216	5,235	-1,600	17,928	10,971	13,590	26,253	0	0	0
Commissions and advisory fees payable
11	432	-589	-2,622	-3,880	-2,614	-1,378	1,015	1,146	1,226	1,182	1,141	1,112	-395	-1,600	-1,980	-1,705	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease liabilities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-20,663	-17,367	-9,353	-9,084	9,619	9,930	197	-501	-2,036	-3,248	-3,469	-3,654	-2,233	582	1,761	-1,452	-439	1,875	-513	755	635	1,130	-2	966	1,686	2,609	3,550	2,412	3,238	4,170	0	0	0	-	-	-	-
Accrued expenses and other current and long-term liabilities
19,375	3,045	9,757	-5,338	6,504	114	-2,590	-5,754	-6,139	1,407	2,358	-1,094	10,488	21,195	2,280	6,524	1,873	10,643	15,523	7,935	12,315	4,548	-2,301	4,276	5,027	7,701	33,097	35,327	32,407	21,095	5,028	5,276	3,694	-23,806	0	0	0
Net cash provided by operating activities
69,432	92,804	96,212	95,803	118,334	105,548	99,199	98,267	77,396	72,846	76,663	76,220	70,149	85,970	91,899	85,394	64,842	24,308	-10,084	14,678	21,720	20,128	12,484	14,085	22,807	28,011	76,556	66,648	61,582	48,831	51,167	48,116	45,839	25,263	0	0	0
Investing activities:
Business acquisition, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	279,386	0	0	0	-	-	-	-
Equity investment in privately-held company
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,000	0	0	0	-	-	-	-	-	-	-	-
Purchases of property and equipment
16,973	10,501	9,180	7,969	7,936	7,633	6,570	5,730	4,814	5,039	4,973	4,195	4,300	3,812	3,294	2,415	1,930	1,512	-1,344	-197	1,049	2,037	3,533	3,164	2,056	2,352	4,042	5,305	5,102	3,752	2,948	964	1,681	2,679	0	0	0
Proceeds from sales of investments
-	-	-	-	-	-	-	-	-	249	249	249	249	0	139,999	142,506	153,506	156,506	18,422	20,989	19,263	28,535	0	0	0	-	-	-	-	203,493	0	0	0	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,491	-2,575	354	284	-252	-408	-1,254	-1,248	-649	0	0	0
Purchases of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities of investments
-	-	-	-	-	-	-	-	-	7,252	8,251	16,059	19,899	12,807	97,564	187,049	228,212	296,455	271,397	247,904	255,314	255,994	258,635	281,714	263,865	213,616	154,905	58,026	35,407	36,753	109,145	147,519	149,695	160,161	0	0	0
Purchases of investments
-	-	-	-	-	-	-	-	-	409	4,029	8,517	8,773	8,767	10,292	102,826	147,827	214,257	308,544	304,536	330,913	336,495	354,175	328,498	362,221	351,883	0	0	0	-	-	-	-	336,770	0	0	0
Net cash used by investing activities
-176,066	-169,594	-168,274	-172,430	-7,936	-7,633	-6,570	-5,730	-4,654	2,053	-502	3,596	5,287	-1,560	-345,780	-347,183	-337,748	-332,517	25,806	9,481	-57,385	-54,003	58,228	-58,915	-64,960	-121,208	-284,819	-203,150	-118,879	-165,073	-115,750	-91,717	-206,659	-115,473	0	0	0
Financing activities:
Proceeds from credit facilities
0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of convertible notes, net of debt issuance costs of $6,432
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	194,818	0	0	0	-	-	-	-	-	-	-	-
Proceeds from credit facilities, net of debt issuance costs and debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36,556	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of convertible notes
-	-	-	-	-	-	-	-	-	-	-	-	-	20,667	20,667	20,667	20,667	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on credit facilities
10,626	313	0	0	40,000	80,000	85,000	95,000	292,000	290,000	320,000	355,000	138,000	140,000	105,000	60,000	66,940	51,940	45,940	47,940	33,000	56,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from loan, net of debt issuance costs of $2,343 and debt discount of $953
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Repayment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Stock repurchases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,735	15,795	18,386	43,095	38,650	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based award activity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,229	-406	5,736	6,398	9,518	11,646	9,214	4,313	26,755	31,026	28,825	23,041	0	0	0	-	-	-	0
Proceeds from stock option exercises
4,104	4,387	4,846	5,707	10,522	12,773	13,781	26,661	38,571	40,271	39,303	25,070	5,362	2,216	1,176	1,458	1,881	2,409	6,657	7,077	8,260	6,730	3,573	3,328	2,619	2,826	2,987	4,847	7,329	9,099	8,574	10,883	16,846	17,049	0	0	0
Proceeds from issuance of stock through employee stock purchase plan
-	-	-	-	-	2,100	1,609	1,471	1,470	1,429	1,428	1,502	1,502	1,402	1,402	1,147	1,147	1,193	1,193	1,319	1,319	1,376	1,376	1,269	1,269	1,065	1,065	873	873	601	601	359	359	377	0	0	0
Repayment of capital lease obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	221	0	0	0
Tax payments from shares withheld for equity awards
4,145	5,652	7,887	9,293	9,294	8,362	8,334	8,057	8,379	9,095	7,049	6,118	3,632	1,752	1,799	1,512	1,439	1,545	1,499	1,896	2,219	2,875	2,963	2,876	2,960	2,405	2,395	1,909	1,644	1,318	1,332	1,518	1,697	1,786	0	0	0
Contingent consideration payments for business acquisition
0	943	943	943	945	1,315	0	0	0	-	-	-	946	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	423	0	0	0
Net cash provided (used) by financing activities
124,690	77,836	82,228	94,565	-38,320	-74,804	-83,865	-80,846	-71,872	-68,562	-96,079	-144,307	-138,914	-162,001	224,083	268,917	266,881	320,652	-17,599	-27,676	-30,443	-46,465	-67,280	-61,781	-38,667	196,203	209,677	218,100	220,092	102,623	101,185	108,739	116,673	23,256	0	0	0
Net cash provided by continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-77,591	-29,798	7,128	-6,025	12,443	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued operations:
Net cash provided by operating activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	14,047	28,347	30,688	29,195	22,126	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-6,156	0	0	0
Net cash provided by investing activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	83,608	42,896	-342	116	-540	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-638	0	0	0
Net cash used by financing activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-25,000	-20,980	-16,970	-11,780	-17,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	72,655	50,263	13,376	17,531	4,586	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-6,794	0	0	0
Effect of exchange rate changes on cash and cash equivalents
23	38	-7	32	-35	-56	-19	5	67	78	75	24	-21	-26	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash, cash equivalents, and restricted cash
18,079	1,084	10,159	17,970	72,043	23,055	8,745	11,696	1,965	7,443	7,251	2,988	4,840	-4,962	20,439	20,480	11,489	17,012	1,388	-3,720	-72,378	-77,981	-47,909	-157,952	-132,161	51,665	1,414	81,598	162,795	-13,619	36,602	65,138	-47,213	-73,748	0	0	0
Contingent earn-out consideration from acquisition (financing)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,000	0	0	0
Cash paid for:
Cash paid for income taxes
2,288	3,106	3,864	3,605	2,380	1,806	1,350	1,315	1,440	1,267	946	1,533	2,002	2,012	1,464	929	265	614	-623	-445	752	684	1,242	1,335	523	343	2,137	1,710	3,095	3,071	0	0	0	-	-	-	-
Cash paid for interest
20,239	18,852	17,663	14,015	14,771	15,335	20,684	21,829	23,000	23,316	23,127	24,239	29,312	32,377	27,782	21,998	16,322	8,994	7,800	8,315	8,834	9,469	6,768	11,266	7,082	6,944	7,302	3,181	3,901	3,527	0	0	0	-	-	-	-
Non-cash investing activities
Purchases of property and equipment through leasehold incentives (investing)
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	120	120	120	120	1,006	0	0	0	-	-	-	-	-	-	-	-