Zovio inc (BPI)
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 (loss)

-46,150

-54,812

-45,212

-35,993

-3,316

4,636

12,906

9,318

552

9,111

-2,544

-10,094

-13,070

-33,051

-22,938

-76,207

-80,195

-70,454

-69,015

22

13,627

9,668

9,807

17,727

16,886

45,883

70,817

86,785

117,379

121,146

122,520

136,152

145,593

171,078

0

0

0

Adjustments to reconcile net income (loss) to net cash used in operating activities:
Provision for bad debts

15,981

16,252

14,003

18,487

20,044

22,834

26,605

25,192

27,398

30,294

31,485

33,019

31,697

32,022

29,159

30,476

31,086

29,863

30,492

30,627

29,020

28,184

37,410

35,637

41,639

47,119

47,827

52,881

52,389

52,767

38,917

43,878

45,026

43,203

0

0

0

Depreciation and amortization

11,709

10,229

8,757

7,451

6,525

6,786

7,242

7,700

8,234

8,863

9,835

10,865

11,741

13,082

14,243

15,862

17,962

19,578

20,806

21,974

22,633

23,317

23,719

23,300

22,864

21,666

20,524

19,378

18,160

17,424

16,810

15,555

14,116

12,743

0

0

0

Amortization of premium/discount

-

-

-

-

-

-

-

-

-

-20

-50

-83

-139

-68

-149

-256

-405

-475

-485

-520

-244

-206

-47

-370

-1,198

-2,624

-4,732

-6,687

-8,274

-8,992

-8,448

-7,059

-5,507

-3,969

0

0

0

Deferred income taxes

0

-

0

0

0

-

0

0

688

-

53

71

-1,256

28

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

14,772

12,340

9,927

7,764

5,328

4,787

4,388

4,206

3,897

3,632

4,472

4,812

5,919

7,317

8,065

8,331

9,763

9,710

9,991

11,135

10,910

10,558

11,121

11,549

12,204

13,934

14,518

14,631

14,855

13,729

12,707

12,340

11,305

10,595

0

0

0

Noncash lease expense

18,873

19,261

14,287

9,345

4,299

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit of option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Write-off or impairment of student loans receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net loss (gain) on marketable securities

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Reassessment of lease charges

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal or impairment of fixed assets

-196

-208

-1,072

-1,072

-1,397

-1,406

-1,132

-1,132

-807

-864

-2,281

-2,281

-3,090

-3,024

-6,903

-44,213

-44,786

-44,949

-45,803

-8,521

-7,111

-7,028

0

0

0

-

-

-

-

-

-

-

-

-13

0

0

0

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-14,719

-8,115

-12,356

-10,048

-10,613

-15,981

-17,649

-6,721

0

0

0

-

-

-

-

Accounts receivable

24,882

18,537

15,106

15,686

20,338

27,007

25,758

26,985

29,912

30,343

31,798

33,407

27,853

31,724

28,788

31,879

34,085

32,383

30,533

33,647

31,162

27,323

27,461

18,506

19,836

15,973

12,802

28,783

35,409

62,333

42,119

46,533

52,004

43,300

0

0

0

Prepaid expenses and other current assets

788

-3,874

-1,865

-950

130

-4,133

-3,323

-2,535

-1,176

-280

-14,946

-17,742

-18,642

-13,225

22,785

16,686

20,142

14,446

-2,879

279

-7,316

-659

-865

263

3,248

2,607

-2,006

-309

8,075

2,387

7,110

10,713

5,585

3,547

0

0

0

Student loans receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-876

-1,184

-1,242

-1,199

-1,139

-877

-858

-871

-809

-836

-768

-622

-291

-1,205

-927

2,661

5,742

0

0

0

-

-

-

-

Student loans receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Other long-term assets

195

7

-425

-1,422

-2,541

-2,843

-2,180

2,596

2,871

3,066

2,497

-1,797

-3,219

-3,274

504

1,141

2,503

2,845

-164

-220

-321

-266

423

1,127

776

412

-539

-861

-311

-2,131

-2,277

-2,446

-2,159

-253

0

0

0

Accounts payable and accrued liabilities

-5,820

1,939

1,383

5,484

-3,267

-12,190

-13,731

-11,732

-6,368

-12,908

-14,650

-17,952

-13,564

4,778

9,495

11,475

-1,696

1,104

-14,453

-2,665

-11,358

-12,102

3,728

-1,022

6,533

13,220

3,966

-347

3,622

12,100

14,548

26,080

25,107

27,509

0

0

0

Deferred revenue and student deposits

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

-21,040

-22,967

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue and student deposits

-

-

-

-

-

-

-

-

-

-

-

-15,547

-10,077

-13,572

-13,906

-17,582

-20,224

-19,170

-19,124

-13,237

-5,640

-24,411

-17,047

-21,903

-31,944

-41,607

-38,890

-45,904

-41,391

-3,921

7,386

6,703

2,684

11,870

0

0

0

Other liabilities

-3,802

-3,651

-4,765

-6,735

-12,204

-12,729

-11,653

-12,357

-7,366

-10,172

-10,801

-10,874

-9,911

-8,886

-11,199

-9,674

-8,269

-7,669

-5,282

-4,620

-4,531

-3,186

-2,155

-3,171

-2,063

-184

615

4,802

6,903

8,772

9,605

8,535

7,648

5,882

0

0

0

Net cash used in operating activities

-35,866

-46,086

-35,166

-20,492

-8,948

-7,591

2,001

-1,775

-7,625

-4,075

7,271

3,343

20,032

11,083

-10,772

256

-9,055

18,801

6,234

32,786

38,064

14,177

48,362

43,021

47,571

85,586

114,487

114,633

136,100

149,905

164,491

173,785

169,815

215,954

0

0

0

Cash flows from investing activities:
Capital expenditures

25,747

31,029

27,841

19,057

8,267

2,581

2,207

2,382

2,903

3,387

3,239

3,277

2,927

1,925

1,715

1,239

1,142

2,477

4,109

7,408

10,001

11,429

12,732

14,250

14,885

14,825

16,230

17,117

21,054

25,296

30,857

36,972

36,558

34,492

0

0

0

Purchases of investments

140

126

119

108

342

1,067

1,282

1,287

1,025

315

106

116

141

20,260

20,275

40,293

40,294

20,280

20,320

15,699

64,964

87,933

87,890

72,496

49,762

26,759

32,599

97,722

142,922

179,387

276,605

331,323

319,727

337,084

0

0

0

Non-operating restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized costs for intangible assets

682

750

627

696

771

873

815

805

704

553

619

584

717

830

1,041

1,426

1,788

2,153

2,438

2,713

3,105

3,634

19,002

19,322

19,315

19,563

4,650

4,680

4,993

5,262

5,414

5,123

4,630

3,521

0

0

0

Sales of investments

-

-

-

-

-

975

1,189

1,189

918

214

0

0

0

-

-

-

-

10,101

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40,000

64,489

86,427

146,927

176,343

197,254

208,638

207,404

186,911

161,511

179,738

185,972

167,049

0

0

0

Maturities of investments

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-46,058

-51,394

-47,873

-39,147

-9,109

-3,546

21,885

21,715

26,286

43,684

41,803

49,401

51,696

14,741

24,054

-3,057

2,860

51,287

36,988

67,779

2,043

-32,996

-55,164

-19,841

62,965

115,196

143,775

89,119

38,460

-23,009

-151,340

-193,655

-174,943

-208,048

0

0

0

Cash flows from financing activities:
Proceeds from exercise of stock options

0

60

60

515

515

455

504

80

2,549

3,848

4,988

4,961

2,492

1,331

166

196

295

284

292

370

874

3,108

12,290

13,245

12,724

10,464

1,267

1,044

1,545

2,257

2,745

2,708

5,280

4,889

0

0

0

Borrowings from long-term liabilities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments Related to Tax Withholding for Share-based Compensation

-

-

-

-

-

-

-

0

0

-

-

-151

-122

0

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit of option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

565

460

526

599

709

1,271

2,898

3,576

3,383

2,590

2,475

4,433

6,470

10,058

11,792

14,356

18,947

19,096

0

0

0

Proceeds from the exercise of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

106

0

0

0

Tax withholdings on issuance of stock awards

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

92,778

0

0

0

Net cash provided by (used in) financing activities

1,075

-567

-607

-1,376

-3,795

-3,805

-20,448

-19,745

-14,941

-166,418

-148,554

-148,517

-151,372

-319

2,688

2,833

3,543

3,805

-340

-1,044

-533

2,284

-196,718

-195,268

-195,378

-197,227

2,536

-5,075

-2,432

1,868

5,543

-17,864

-54,423

-67,357

0

0

0

Net decrease in cash, cash equivalents and restricted cash

-80,849

-98,047

-83,646

-61,015

-21,852

-14,942

3,438

195

3,720

-126,809

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosure of non-cash transactions:
Purchase of equipment included in accounts payable and accrued liabilities

-4,147

721

1,145

4,339

4,816

25

774

661

405

379

67

41

209

0

4,090

4,131

4,125

4,160

-731

-330

-382

109

91

-812

-11

136

-612

889

-283

509

3,153

1

3,454

2,489

0

0

0

Issuance of common stock for vested restricted stock units

905

2,679

2,841

3,248

3,291

2,760

2,828

2,687

2,951

4,779

4,671

4,474

4,559

4,847

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reconciliation of cash, cash equivalents, and restricted cash:
Net decrease in cash, cash equivalents and restricted cash

-80,849

-98,047

-83,646

-61,015

-21,852

-14,942

3,438

195

3,720

-126,809

-99,480

-95,773

-79,644

25,505

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-203,520

-172,088

-84,842

3,555

260,798

198,677

172,128

128,764

18,694

-37,734

-59,551

-59,451

0

0

0

Issuance of common stock for vested restricted stock units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-