| Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||||
Net income (loss) | ||||||||||
2,365 | -7,758 | 11,634 | -11,185 | -6,184 | -6,583 | -442 | -34,492 | -46,409 | -19,148 | -22,993 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
31,453 | 31,235 | 31,021 | 33,635 | 33,308 | 33,601 | 33,277 | 36,082 | 36,102 | 34,698 | 32,592 |
Non-cash interest charges and amortization of debt discount and deferred financing costs | ||||||||||
2,280 | 2,366 | 2,780 | 7,340 | 2,857 | 4,103 | 3,198 | 2,730 | 50,247 | 5,428 | 7,149 |
Equity-based compensation expense | ||||||||||
3,563 | 2,562 | 2,081 | 1,554 | 1,504 | 868 | 1,341 | 1,194 | 1,018 | 933 | 993 |
Provision for doubtful accounts | ||||||||||
2,393 | 1,919 | 267 | 437 | 957 | 1,443 | 1,572 | 1,246 | 1,122 | 757 | 368 |
Deferred income taxes | ||||||||||
-454 | 87 | 35 | -3,542 | 888 | 21,340 | -18,791 | 6,692 | -14,519 | -7,593 | -7,858 |
Unrealized foreign currency gains | ||||||||||
8,368 | -4,848 | 3,008 | 3,195 | 2,089 | 16,113 | -7,864 | -3,460 | 843 | -619 | -1,775 |
Gain on sale of business | ||||||||||
0 | 0 | 28,144 | - | - | - | 0 | 0 | 0 | 0 | 1,785 |
Payment of contingent consideration | ||||||||||
0 | 0 | 4,296 | - | - | - | 0 | - | - | - | - |
Other | ||||||||||
- | - | 0 | 5,355 | -1 | 27 | 60 | -23 | -3 | -4 | -164 |
Changes in operating assets and liabilities, net of effects of acquisitions and disposal: | ||||||||||
Accounts receivable | ||||||||||
-5,631 | -1,149 | 6,171 | 8,751 | -690 | -7,089 | 6,812 | 13,367 | -2,914 | -2,467 | -1,637 |
Prepaid expenses and other current assets | ||||||||||
2,885 | 1,904 | 2,779 | -2,530 | -2,134 | 32 | 2,950 | -507 | -1,838 | 1,189 | -423 |
Operating lease right-of-use assets | ||||||||||
- | -3,800 | -4,384 | - | - | - | 0 | - | - | - | - |
Other assets | ||||||||||
-722 | 1,256 | 442 | -1,468 | 558 | 216 | -48 | -624 | 57 | -106 | -64 |
Accounts payable | ||||||||||
230 | -2,418 | -2,701 | 2,449 | -3,598 | 2,320 | -443 | -1,721 | -673 | -812 | -625 |
Accrued compensation and benefits | ||||||||||
1,407 | -3,276 | 5,098 | 3,851 | 3,026 | -3,330 | -17 | 3,972 | 557 | -2,167 | -8,597 |
Other accrued expenses | ||||||||||
2,731 | -18,832 | -843 | 3,854 | -223 | -3,767 | -3,330 | 8,191 | -4,604 | -1,451 | 1,932 |
Deferred revenue | ||||||||||
- | 18 | 18,420 | - | - | -12,110 | 20,853 | 8,480 | -6,130 | -7,119 | 9,656 |
Operating lease liabilities | ||||||||||
- | -6,009 | -2,144 | - | - | - | 0 | - | - | - | - |
Other liabilities | ||||||||||
- | -2,586 | 3,701 | - | - | -1,310 | 875 | 6,931 | -326 | -255 | -1,729 |
Net cash provided by operating activities | ||||||||||
34,630 | 3,945 | 28,893 | 37,339 | 26,156 | 27,330 | 36,303 | 30,506 | 20,234 | 5,270 | 12,838 |
Cash flows from investing activities | ||||||||||
Purchases of property and equipment | ||||||||||
1,466 | 2,931 | 4,377 | 4,304 | 3,465 | 3,121 | 3,739 | 2,988 | 2,473 | 1,760 | 3,513 |
Software development costs | ||||||||||
7,688 | 6,889 | 7,954 | 7,778 | 3,829 | 3,164 | 5,033 | 3,588 | 3,957 | 3,334 | 4,074 |
Acquisitions of businesses, net of cash and restricted cash acquired of $6,068 and $2,711 | ||||||||||
0 | 0 | 148,541 | 0 | 3,750 | 0 | 62,713 | 23,536 | 0 | 5,911 | 49,081 |
Proceeds from disposal of business | ||||||||||
0 | 0 | 44,865 | - | - | - | 0 | 0 | 0 | 0 | 23,675 |
Other | ||||||||||
-3 | 1 | -21 | 29 | 0 | -5 | 0 | - | - | - | - |
Net cash used in investing activities | ||||||||||
-9,151 | -9,821 | -115,986 | -12,111 | -11,044 | -6,280 | -71,485 | -30,167 | -6,430 | -10,398 | -32,993 |
Cash flows from financing activities | ||||||||||
Proceeds from revolving credit facility | ||||||||||
0 | 0 | 40,000 | - | - | - | 0 | - | - | - | - |
Repayment of revolving credit facility | ||||||||||
0 | 0 | 40,000 | - | - | - | 0 | - | - | - | - |
Proceeds from term credit facility, net of debt discount of $1,013 | ||||||||||
0 | 0 | 73,987 | - | - | - | 0 | 74,625 | 1,246,742 | 0 | 28,892 |
Repayments of term credit facility | ||||||||||
3,475 | 3,502 | 3,494 | 3,308 | 13,313 | 43,314 | 3,362 | 3,337 | 1,488,851 | 2,825 | 2,825 |
Payments of capital lease obligations | ||||||||||
- | - | - | - | - | - | - | 0 | 57 | 56 | 58 |
Payments of deferred financing costs | ||||||||||
0 | 0 | 1,619 | 556 | 0 | 163 | 131 | 0 | 0 | 0 | 0 |
Proceeds from the exercise of stock options | ||||||||||
0 | 336 | 264 | - | - | - | 0 | - | - | - | - |
Payment of contingent consideration | ||||||||||
0 | 0 | 3,695 | 0 | 0 | 0 | 2,873 | 0 | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | ||||||||||
-3,475 | -3,214 | 65,443 | -3,864 | -13,313 | -43,477 | -6,366 | 71,188 | -275,641 | 300,389 | 26,009 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | ||||||||||
-1,476 | -22 | 394 | -787 | -574 | -2,454 | 742 | 395 | 910 | 1,068 | 341 |
Decrease in cash, cash equivalents, and restricted cash | ||||||||||
20,528 | -9,112 | -21,256 | 20,577 | 1,225 | -24,881 | -40,806 | 71,922 | -260,927 | 296,329 | 6,195 |
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets | ||||||||||
Supplemental disclosure of cash flows information | ||||||||||
Issuance of securities by Cision Owner in connection with acquisitions | ||||||||||
- | - | - | - | - | - | - | 0 | 0 | 0 | 7,000 |
Stock Issued for Acquisition | ||||||||||
- | - | - | - | - | - | - | - | - | - | 0 |
Issuance of shares for acquisitions | ||||||||||
182,248 | 182,248 | 182,248 | -60,348 | 20,143 | 20,143 | 20,143 | - | - | - | - |