| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net loss | ||||||||||
28 | 574 | 17,028 | 13,100 | 6,267 | -819 | 6,685 | 13,685 | 18,562 | 11,378 | 8,346 |
Adjustments required to reconcile net loss to net cash provided by operating activities: | ||||||||||
Depreciation | ||||||||||
3,104 | 2,915 | 2,014 | 1,399 | 1,058 | 752 | 670 | 525 | 506 | 528 | 488 |
Amortization of intangible assets | ||||||||||
2,165 | 1,242 | 1,236 | 1,236 | 1,298 | 649 | - | - | - | - | - |
Equity-based compensation | ||||||||||
10,718 | 10,367 | 8,693 | 6,236 | 4,015 | 5,011 | 5,920 | 5,083 | 5,158 | 2,132 | 2,920 |
Gain from sale of property and equipment | ||||||||||
- | - | - | - | - | - | - | - | 10 | - | - |
Realized loss, net on sale of available-for-sale marketable securities | ||||||||||
-28 | -67 | - | -9 | -78 | 6 | 379 | 184 | 54 | 35 | -21 |
Amortization of premiums on available-for-sale marketable securities | ||||||||||
554 | 773 | 1,179 | 1,064 | 1,111 | 1,121 | 1,504 | 1,267 | 2,068 | 1,603 | 652 |
Unrealized foreign exchange (gain) loss | ||||||||||
-249 | -155 | 42 | -75 | -237 | -604 | 49 | 21 | 46 | -26 | -85 |
Revaluation of investment in other company | ||||||||||
0 | 870 | 0 | 0 | - | - | - | - | - | - | - |
Loss on realization of investment in other company | ||||||||||
- | - | - | - | - | -404 | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||||
Trade receivables | ||||||||||
2,151 | 463 | 1,446 | 10,966 | -4,279 | 2,381 | -603 | 1,116 | -790 | -89 | 605 |
Gain on realization of investments | ||||||||||
- | - | - | - | - | - | - | - | - | - | 3,712 |
Prepaid expenses and other assets | ||||||||||
4,170 | 3,855 | 2,478 | 622 | 136 | -819 | -146 | -856 | -3,338 | -2,567 | 438 |
Operating lease right-of-use assets | ||||||||||
-1,281 | - | - | - | - | - | - | - | - | - | - |
Accrued interest on bank deposits | ||||||||||
161 | 557 | -151 | 195 | 318 | -351 | 245 | 1,842 | 1,070 | 589 | 1,049 |
Deferred tax, net | ||||||||||
-3,594 | -2,187 | -1,375 | -613 | -1,213 | 2,531 | -1,191 | -656 | -1,443 | -688 | 1,100 |
Trade payables | ||||||||||
53 | 226 | -184 | -190 | -161 | -655 | -102 | 594 | 7 | 46 | -88 |
Deferred revenues | ||||||||||
85 | -806 | -1,859 | 3,495 | 1,082 | 950 | -242 | -209 | 458 | 184 | -602 |
Accrued expenses and other payables | ||||||||||
-131 | -493 | 1,259 | -277 | -158 | -188 | -394 | 282 | -589 | 219 | -784 |
Accretion of contingent consideration | ||||||||||
- | - | - | - | 97 | 169 | - | - | - | - | - |
Accrued payroll and related benefits | ||||||||||
-3,056 | 527 | -1,807 | 94 | -1,679 | -800 | -568 | -57 | -137 | -452 | - |
Operating lease liability | ||||||||||
-1,166 | - | - | - | - | - | - | - | - | - | - |
Income taxes payable | ||||||||||
-53 | 96 | -1,493 | 668 | 93 | -1,057 | 207 | 1,081 | 475 | - | - |
Increase in income taxes payable | ||||||||||
- | - | - | - | - | - | - | - | - | 24 | - |
Excess tax benefit from equity-based compensation | ||||||||||
- | - | - | - | 112 | - | - | 672 | 1,290 | 1,692 | - |
Accrued severance pay, net | ||||||||||
9 | 215 | -21 | 134 | 184 | 54 | 6 | -106 | 85 | 21 | -325 |
Acquisition of subsidiary, net of cash acquired (Note 2) | ||||||||||
- | - | - | - | - | 13,489 | - | - | 900 | - | - |
Net cash provided by operating activities | ||||||||||
9,674 | 8,612 | 24,469 | 14,459 | 19,380 | 9,109 | 13,707 | 18,624 | 27,082 | 16,265 | 6,009 |
Cash flows from investing activities: | ||||||||||
Acquisition of business | ||||||||||
11,000 | - | - | - | - | - | - | - | - | - | - |
Purchase of property and equipment | ||||||||||
3,461 | 3,319 | 4,135 | 2,387 | 2,184 | 1,416 | 894 | 682 | 393 | 728 | 368 |
Purchase of intangible assets | ||||||||||
7,364 | 1,960 | - | 0 | - | - | - | - | - | - | - |
Proceeds from sale of property and equipment | ||||||||||
- | - | - | - | - | - | - | - | 10 | - | 3 |
Investment in bank deposits | ||||||||||
39,346 | 21,596 | 47,027 | 41,476 | 53,328 | 51,511 | 40,190 | 64,695 | 64,709 | 39,177 | 46,182 |
Proceeds from bank deposits | ||||||||||
45,435 | 32,892 | 44,450 | 37,594 | 47,451 | 45,306 | 51,850 | 76,921 | 25,040 | 40,420 | 46,598 |
Investment in available-for-sale marketable securities | ||||||||||
27,184 | 19,666 | 54,882 | 43,537 | 29,800 | 38,413 | 64,760 | 60,863 | 42,291 | 59,593 | 48,402 |
Proceeds from maturity of available-for-sale marketable securities | ||||||||||
3,888 | 10,122 | 9,296 | 8,022 | 4,392 | 2,033 | 8,686 | 14,983 | 29,173 | 20,061 | 21,018 |
Proceeds from sale of available-for-sale marketable securities | ||||||||||
36,589 | 13,354 | 23,512 | 20,754 | 23,713 | 55,566 | 55,514 | 45,704 | 14,813 | 12,418 | 10,569 |
Investments in other companies | ||||||||||
- | - | - | - | - | - | 934 | 1,533 | - | - | - |
Proceeds from realization of investment in other company | ||||||||||
- | - | - | - | 111 | 1,032 | - | - | - | - | 3,712 |
Payment of contingent consideration | ||||||||||
- | - | - | - | 3,700 | - | - | - | - | - | - |
Net cash used in investing activities | ||||||||||
-2,443 | 9,827 | -28,786 | -21,030 | -9,645 | -892 | 9,272 | 9,835 | -39,257 | -26,599 | -13,052 |
Cash flows from financing activities: | ||||||||||
Purchase of treasury stock | ||||||||||
9,113 | 20,008 | - | 3,417 | 10,078 | 18,657 | 19,816 | 27,168 | - | 1,567 | 823 |
Proceeds from exercise of stock-based awards | ||||||||||
2,437 | 2,249 | 7,487 | 9,615 | 6,713 | 2,974 | 2,479 | 1,615 | 8,660 | 15,671 | 5,740 |
Proceeds from issuance of Common Stock under employee stock purchase plan | ||||||||||
- | - | - | - | - | - | - | - | - | - | 979 |
Excess tax benefit from equity-based compensation | ||||||||||
- | - | - | - | 112 | 0 | 0 | 672 | 1,290 | 1,692 | - |
Net cash used in financing activities | ||||||||||
-6,676 | -17,759 | 7,487 | 6,198 | -6,953 | -15,683 | -17,337 | -24,881 | 9,950 | 15,796 | 5,896 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
-12 | -159 | 168 | -135 | -39 | -485 | 53 | -110 | 81 | -468 | -77 |
Increase (decrease) in cash and cash equivalents | ||||||||||
543 | 521 | 3,338 | -508 | 2,743 | -7,951 | 5,695 | 3,468 | -2,144 | 4,994 | -1,224 |
Supplemental information of cash-flow activities: | ||||||||||
Income and withholding taxes | ||||||||||
5,063 | 4,294 | 5,203 | 3,287 | 2,185 | 1,276 | 1,851 | 926 | 528 | -136 | 1,105 |
Non-cash transactions: | ||||||||||
Cumulative effect of adoption of new accounting standard | ||||||||||
- | 8,555 | - | 0 | - | - | - | - | - | - | - |
Property and equipment purchases incurred but unpaid at period end | ||||||||||
21 | 14 | - | 86 | - | - | - | - | - | - | - |
Intangible assets purchased but unpaid at period end | ||||||||||
- | 750 | - | - | - | - | - | - | - | - | - |
Right-of-use assets obtained in the exchange for operating lease liabilities | ||||||||||
2,493 | - | - | - | - | - | - | - | - | - | - |