Carbonite, inc. (CARB)
CashFlow / Quarterly
Sep'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
Operating activities
Net (loss) income

-13,956

-11,274

2,003

719

586

-5,687

11,944

-1,614

-3,603

-6,380

7,595

-670

107

1,160

-4,696

-4,599

-5,966

-4,820

-6,230

-5,133

-699

-2,536

-982

318

-1,187

-2,317

-7,419

-2,219

-3,370

-4,231

-9,116

-6,131

-7,416

-4,652

-5,337

Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization

23,471

23,065

11,149

12,164

11,859

11,686

6,077

5,692

5,647

5,508

4,884

3,642

3,849

4,039

4,339

3,338

3,458

3,484

3,354

3,092

3,081

3,141

3,155

3,129

3,142

3,161

3,158

2,922

2,787

2,686

2,404

2,219

2,113

1,900

1,638

Amortization of right-of-use assets

2,220

2,265

1,291

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred costs

811

766

647

-

590

507

424

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on disposal of equipment

97

-19

36

-54

104

199

-58

14

-35

928

0

-230

-50

-36

-432

167

-8

0

33

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of discount on marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

9

14

8

7

5

2

3

4

4

-6

-32

-58

-62

-

-

-

-

Impairment of other long-lived assets

126

0

0

-

0

0

653

-

906

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

5,288

5,512

4,205

4,146

4,983

4,741

3,737

3,522

3,255

3,188

2,777

2,272

2,130

2,155

2,343

2,798

2,545

2,405

2,468

1,770

1,441

1,597

1,257

1,119

1,174

1,165

1,319

1,157

1,015

1,003

956

482

411

328

224

Benefit for deferred income taxes

-2,890

-4,923

-7,318

-397

89

1,345

-17,662

-338

-90

-122

-14,842

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest expense related to amortization of debt discount

2,305

2,243

1,712

1,628

1,611

1,558

1,543

1,491

1,477

1,466

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of businesses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Reduction of) provision for reserves on accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23

23

30

-

-

3

7

20

11

-6

48

-5

1

3

-1

Non-cash restructuring charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-59

81

92

123

5

0

1,017

-

-

-

-

Other non-cash items, net

356

263

-1

275

-72

2

-66

166

118

-136

385

100

112

80

-360

-3

138

49

-107

-506

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Re-measurement of preferred stock warrant liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

27

-5

-14

Changes in assets and liabilities:
Accounts receivable

-3,185

-3,757

356

-1,005

564

1,821

4,616

-1,276

-599

1,301

-1,212

169

-215

4,506

8,952

225

136

230

815

-650

145

126

299

-375

84

119

475

-231

467

-177

273

71

121

51

55

Prepaid expenses and other current assets

610

-5,036

5,430

1,437

740

1,627

-86

552

-999

-191

384

-275

-204

-3,382

5,408

44

-725

-1,403

1,065

-1,385

1,708

475

32

1,244

-590

-42

-26

451

171

-446

399

-8

437

-85

842

Other assets

613

1,635

-123

586

884

1,560

2,211

371

72

-790

927

52

-68

-41

40

-1,490

-9

-312

-218

104

10

-115

2

850

3

60

34

-4

-29

5

-14

-38

-1,262

1,038

374

Accounts payable

112

5,423

-870

-1,548

-1,916

319

-4,214

4,689

-281

-2,695

3,322

1,842

-1,074

-1,590

-2,523

1,552

894

-754

1,172

2,539

-1,346

1,538

-779

2,139

-1,820

-538

-1,176

2,570

-1,786

650

-2,045

5,017

-507

-1,323

-1,252

Accrued expenses and other current liabilities

4,509

-13,603

7,349

2,295

792

-467

3,016

1,158

187

-1,651

-689

1,856

2,486

292

3,549

-803

1,274

735

-611

292

942

-1,196

1,677

-2,543

710

771

3,435

-2,922

1,530

-1,268

1,509

-2,729

2,084

531

947

Other long-term liabilities

-2,271

-5,470

-1,388

-198

-91

-199

252

21

-88

216

-96

-105

-128

28

-381

-980

-308

-244

184

575

3,086

880

-45

-135

-14

13

37

5

17

5

21

152

-16

48

19

Deferred revenue

2,034

9,358

5,662

1,561

685

4,961

4,138

-1,424

-1,955

4,454

5,094

542

-2,674

296

4,220

2,318

-372

1,734

3,831

2,609

-670

322

3,349

2,811

-43

1,207

4,819

3,858

2,756

1,884

5,947

5,842

4,542

3,851

6,153

Net cash provided by operating activities

29,268

20,276

18,744

19,776

16,968

13,555

3,291

13,864

6,898

2,872

7,561

9,801

5,037

5,084

-6,757

4,657

1,993

3,976

2,571

8,091

3,987

3,276

7,324

5,082

2,353

3,405

3,785

5,263

2,388

1,399

145

4,862

1,889

-313

1,134

Investing activities
Purchases of property and equipment

3,487

3,265

2,758

3,205

2,132

4,507

3,288

5,407

1,905

3,471

6,568

2,867

906

885

1,924

1,457

3,367

1,617

3,289

3,893

5,562

1,895

3,145

2,807

1,649

2,214

3,131

3,179

1,821

3,491

4,926

3,976

2,378

2,731

4,459

Proceeds from sale of property and equipment and businesses

61

26

51

203

123

204

330

19

376

560

295

-

-

-

-

173

80

0

33

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of derivatives

469

1,334

6

-

916

1,680

0

-

0

0

370

-

198

1,000

0

-

3,082

1,730

12,712

-

4,250

3,250

2,750

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of derivatives

0

0

6

25

0

0

1,403

211

2,396

2,030

403

0

0

938

538

0

314

436

0

6,266

4,233

3,500

2,500

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of marketable securities and derivatives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,500

1,204

2,500

2,500

-

-

-

-

Proceeds from sale of businesses

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-829

136

828

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payment for intangibles

0

0

0

0

4,500

0

1,250

1,250

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment for acquisition, net of cash acquired

-306

132,369

489,640

0

0

-6

144,603

0

9,600

458

59,740

0

0

625

11,000

333

992

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-2,651

-134,274

-492,347

-1,606

-5,593

-2,617

-150,214

-6,685

-13,525

-5,399

-66,046

-661

-704

-1,448

-13,462

8

-1,511

506

9,320

-20,541

-5,545

-2,145

-2,895

-2,803

-1,149

-2,214

-3,131

-24,058

-617

-2,701

-2,426

-16,670

-2,378

5,320

-4,459

Financing activities
Proceeds from exercise of stock options

77

133

130

121

197

216

726

829

821

892

2,445

1,540

1,639

67

314

401

231

346

1,276

2,354

477

918

490

817

2,543

856

512

341

44

269

448

65

200

87

638

Payments of withholding taxes in connection with restricted stock unit vesting

0

151

754

708

970

634

550

546

495

485

524

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term borrowings, net of debt issuance costs

-503

-2,410

531,893

0

0

-916

88,984

0

0

138,734

39,063

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

-

-

-

-

-

-

-

-

-

-

-

-272

127

1,380

3,246

2,317

33

2,990

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

22

Net cash provided by financing activities

-10,426

-55,846

531,269

-20,740

118,529

-10,119

89,160

1,335

326

84,977

40,984

1,329

1,512

-1,313

-2,932

-2,247

198

-2,644

1,276

2,354

477

918

490

817

2,543

856

512

341

44

269

448

-12

55,909

87

616

Effect of currency exchange rate changes on cash

-1,032

371

-463

-324

95

-846

541

292

627

836

27

-424

59

-129

224

-105

14

52

-212

-289

194

15

-19

-2

1

-1

-3

-2

1

1

4

0

-1

2

1

Net decrease in cash, cash equivalents and restricted cash

-

-169,473

57,203

-

-

-27

-57,222

8,806

-5,674

83,286

-17,474

10,045

5,904

2,194

-22,927

2,313

694

1,890

12,955

-10,385

-887

2,064

4,900

3,094

3,748

2,046

1,163

-18,456

1,816

-1,032

-1,829

-11,820

55,419

5,096

-2,708

Supplemental disclosure of cash flow information
Cash (refund) paid for income taxes, net

-

-

184

-

-

183

341

-

301

200

416

-

223

244

236

-

692

204

467

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosure of non-cash investing and financing activities:
Capitalization of stock-based compensation

-2

11

18

12

14

-42

81

52

54

69

43

35

18

30

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of redeemable convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-23

-52

-53

Acquisition of property and equipment included in accounts payable and accrued expenses

-827

1,140

10

-506

365

-2,756

2,751

-3,291

3,700

-768

-282

1,231

-274

578

-641

-439

-1,558

1,922

-1,730

-684

2,221

-1,068

384

3,705

-364

-2,656

1,070

-

-

-

-

-

-

-

-

Accrued payment for intangibles

-

-

-

-

-

-

-

-

0

0

5,733

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of treasury stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-