Cornerstone ondemand, inc. (CSOD)
CashFlow / Quarterly
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 loss

-13,775

9,432

-1,217

-8,805

-3,464

-3,172

-2,447

-12,007

-16,216

-9,004

-14,855

-21,265

-16,211

-18,618

-12,388

-17,588

-18,243

-18,843

-20,149

-23,262

-23,262

-18,166

-14,311

-16,632

-15,790

-10,755

-11,054

-8,683

-9,934

-7,417

-7,627

-8,234

-8,112

-4,956

-4,277

-7,074

-47,593

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

11,964

10,751

10,814

9,176

10,858

9,909

9,132

8,388

7,831

8,349

9,050

8,650

9,328

8,525

8,416

7,893

7,558

7,615

6,993

6,676

6,228

5,255

3,546

3,213

3,072

2,703

2,550

2,323

2,124

2,098

1,962

1,816

1,161

1,019

986

886

823

Accretion of debt discount and amortization of debt issuance costs

1,090

1,077

587

1,516

1,027

1,011

996

3,496

3,426

2,685

2,412

2,383

2,353

2,325

2,296

2,268

2,241

2,213

2,186

2,159

2,133

2,107

2,081

2,055

2,031

2,006

1,981

286

0

-

-

-

-

-

-

-

-

Amortization (accretion) of purchased investment premium or discount, net

-41

57

175

509

216

588

-615

106

81

-608

-120

-252

-155

-21

343

-352

-210

-356

206

-177

65

-591

432

269

-926

-1,000

3,031

0

0

-

-

-

-

-

-

-

-

Change in fair value of preferred stock warrant liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-42,559

Non-cash interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

68

-

72

59

387

Net foreign currency and other loss

-5,585

3,133

-1,389

-821

-294

-82

-1,163

1,329

356

1,093

223

615

530

-1,139

-64

224

986

85

529

-311

-1,887

-327

-1,194

-264

129

133

191

-280

-286

145

212

-376

201

-

-

-

-

Stock-based compensation expense

23,170

16,716

19,518

19,151

17,045

15,515

15,531

16,032

19,479

14,895

17,582

17,598

15,849

13,949

14,746

13,008

12,996

12,413

12,167

9,784

8,717

9,176

8,478

8,134

7,892

6,577

5,917

4,347

3,999

3,910

3,316

2,482

2,499

1,543

1,020

1,134

805

Non-cash charitable contribution of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-193

Deferred Income Tax Expense (Benefit)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-515

28

-249

-129

-313

-291

-361

0

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-35,516

29,454

-2,026

11,081

-32,955

28,558

-12,662

-1,207

-41,888

28,948

4,740

18,886

-38,257

39,148

-2,234

16,567

-15,389

12,314

13,009

17,870

-21,356

-2,246

19,655

16,162

-14,897

11,001

10,529

7,068

-9,552

2,196

12,090

7,193

-9,225

11,111

3,163

4,778

-5,744

Deferred commissions

-582

13,111

5,400

4,456

4,274

8,212

4,364

2,212

528

4,892

2,366

-291

-1,718

4,231

36

231

-1,955

8,169

885

2,216

-974

6,570

1,356

2,912

-741

4,044

1,231

-31

1,841

5,119

353

-60

279

728

283

-42

305

Prepaid expenses and other assets

6,550

-245

-5,635

-3,313

-3,641

1,951

-7,331

7,982

8,841

-1,329

-187

-3,213

7,433

-184

1,258

-781

3,330

-2,214

1,217

57

3,515

-400

1,061

598

-2,504

1,808

1,034

2,140

1,075

780

2,822

317

269

272

1

454

1,077

Accounts payable

523

-2,719

-7,646

4,387

-2,781

762

1,597

-250

-7,605

1,456

2,411

3,798

-14,485

10,876

-2,257

3,638

-6,318

5,489

662

655

-2,362

2,525

-600

1,549

1,088

2,071

-906

2,669

1,248

-1,466

1,044

-814

1,426

566

551

-1,676

1,474

Accrued expenses

-18,079

13,991

4,156

13,568

-23,287

9,270

1,387

13,693

-15,059

10,637

5,323

6,346

-13,776

8,938

677

7,036

-12,924

14,338

894

6,446

-6,954

6,321

598

4,928

-5,401

4,520

3,756

1,829

-3,277

5,201

1,533

1,892

-2,301

1,535

717

1,072

-10

Deferred revenue

-35,557

58,683

-6,474

-8,615

-23,959

49,498

-10,812

-4,132

-23,751

52,152

7,710

-1,396

-22,637

50,869

1,833

3,868

-13,191

48,230

18,754

4,894

-7,104

39,552

16,120

7,624

-8,080

28,668

12,324

4,509

-271

19,584

11,450

4,655

-362

16,076

3,999

3,501

-1,415

Other liabilities

1,478

112

1,265

2,717

-545

1,299

-174

2,430

-4,767

2,018

-1,073

1,255

177

-559

-1,152

-494

-211

-272

387

-379

-683

683

1,245

649

-2,872

206

470

274

-204

693

2,629

239

174

937

-102

25

-194

Net cash provided by operating activities

5,988

62,594

24,478

21,183

7,294

44,988

32,617

17,228

-4,580

51,583

21,538

1,624

-7,235

33,534

12,832

3,740

-14,854

53,080

6,048

-12,682

-2,650

44,440

-4,153

-8,157

879

19,495

-950

-1,592

478

14,087

-1,433

-5,389

3,029

4,872

556

-4,987

1,391

Cash flows from investing activities
Purchases of marketable investments

20,419

-

201,899

82

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of marketable investments

-

-

-

-

-

-

-

-

-

90,529

144,903

9,200

77,281

35,542

113,478

44,971

16,543

58,192

58,152

22,542

81,497

0

41,516

65,171

17,504

0

203,959

0

0

-

-

-

-

-

-

-

-

Maturities and sales of investments

272,173

30,361

8,266

27,095

170,679

50,550

62,494

32,012

40,677

94,572

96,524

57,835

65,487

21,304

53,034

57,009

20,186

56,945

35,609

31,309

14,497

63,229

57,594

66,243

16,012

723

5,459

0

0

-

-

-

-

-

-

-

-

Capital expenditures

971

2,047

6,713

5,031

4,243

4,734

2,534

5,068

2,559

418

2,942

1,042

2,698

1,883

984

1,901

1,460

627

6,497

3,445

5,064

503

3,253

4,073

3,196

2,295

4,090

910

1,467

1,776

159

142

46

-64

79

705

64

Capitalized software costs

7,389

5,833

4,708

6,728

7,399

6,572

6,641

6,263

6,039

4,745

4,464

5,606

5,756

4,173

4,009

3,585

4,642

3,287

3,366

3,159

3,471

2,529

2,337

2,314

2,349

1,919

1,573

1,479

1,935

1,368

1,200

1,198

1,264

805

855

699

663

Cash paid for acquisition, net of cash acquired

18,639

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities

224,755

-66,964

-205,054

15,254

159,037

16,247

-90,367

21,165

32,079

-2,620

-55,785

41,987

-20,248

-20,294

-65,437

6,552

-2,459

-5,161

-32,406

2,163

-75,535

16,869

10,488

-5,315

-7,037

-3,491

-204,163

-2,389

-3,402

-3,144

-1,359

-13,768

-1,310

16,259

16,066

-35,483

-727

Cash flows from financing activities
Payment of debt issuance costs

-

-

-

-

-

-

0

0

152

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from initial public offering, net of underwriting discounts and commissions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

90,539

Payments of initial public offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,180

1,256

Proceeds from issuance of preferred stock upon warrant exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,163

Proceeds from the issuance of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,914

1,043

0

0

0

-

-

-

-

Repayment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

57

79

92

124

134

144

142

139

137

125

3,415

361

260

254

786

210

56

56

23

9,072

Principal payments under capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

33

17

37

53

95

185

183

200

318

358

402

528

459

523

467

480

449

818

387

374

398

Proceeds from employee stock plans

10,130

9,528

18,861

7,371

6,840

10,928

13,427

23,282

6,765

2,787

3,411

2,838

3,473

5,778

5,294

8,392

4,084

2,362

5,539

2,275

1,383

2,564

2,383

1,729

5,609

4,209

5,098

2,414

1,726

715

942

447

594

-

-

-

-

Repurchases of common stock

-

-

-

-

-

24,515

16,143

23,908

14,700

20,734

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from common stock warrant exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

159

Net cash provided by financing activities

10,130

702

5,331

1,902

6,840

-13,587

-255,716

-626

-8,087

267,130

3,411

2,838

3,473

5,778

5,294

8,392

4,051

2,288

5,423

2,130

1,164

2,245

2,056

1,387

5,152

3,714

4,192

218,202

2,820

975

221

-819

-65

2

-760

-1,917

83,314

Effect of exchange rate changes on cash and cash equivalents

-626

837

-1,123

-248

248

-610

-907

-181

357

1,050

267

693

570

-1,008

26

-636

98

-443

-517

1,120

-2,888

-991

-975

-22

108

224

298

-127

-168

32

95

-242

123

-

-

-

-

Net increase in cash and cash equivalents

240,247

-2,831

-176,368

38,091

173,419

47,038

-314,373

37,586

19,769

317,143

-30,569

47,142

-23,440

18,010

-47,285

18,048

-13,164

49,764

-21,452

-7,269

-79,909

62,563

7,416

-12,107

-898

19,942

-200,623

214,094

-272

11,950

-2,476

-20,218

1,777

21,034

15,717

-42,387

83,978

Supplemental cash flow data
Cash paid for interest

8,625

0

8,625

46

8,685

0

8,625

2,003

3,000

0

1,943

0

1,898

0

1,898

0

1,898

1

1,900

6

8

1,910

1,916

24

30

2,085

47

83

79

84

94

88

75

68

80

70

325

Cash paid for income taxes

955

216

518

580

390

286

699

422

452

443

812

340

648

497

741

376

720

311

565

511

133

43

148

204

151

28

73

218

166

19

43

-159

200

86

-49

24

43

Proceeds from employee stock plans received in advance of stock issuance

-

-

-

-

-

-

1,653

-1,117

1,616

-

1,490

-885

1,393

-996

1,283

-964

1,166

-937

959

-581

752

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

179

Cash paid for operating leases

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for lease obligations

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash investing and financing activities:
Assets acquired under capital leases and other financing arrangements

0

0

-426

1,217

485

46,100

970

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

88

889

-19

1,077

1,775

-92

820

210

193

Conversion of convertible preferred stock to common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

132,775

Capitalized assets financed by accounts payable and accrued expenses

176

-715

-1,523

939

1,789

-1,230

-781

-1,624

5,201

1,198

-2,000

2,008

623

87

1,091

-376

1,278

167

-5,287

4,749

1,076

2,142

-575

-895

2,253

1,025

-2,830

2,421

559

-151

704

93

47

-

-

-

-

Capitalized stock-based compensation

2,190

1,420

1,314

1,361

752

1,295

1,296

1,198

1,253

1,277

1,250

1,336

1,135

1,141

1,226

941

944

814

798

708

513

450

451

359

303

302

226

205

208

176

161

132

87

69

66

57

42

Unsettled share repurchase in other liabilities

-

-

-

-

-

-

-

-

1,325

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred offering costs included in accounts payable and accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,377