| 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: | ||||||||||
Loss | ||||||||||
-18,018 | -19,414 | -15,648 | -6,213 | -4,799 | -7,016 | -9,871 | 1,485 | 4,598 | 4,403 | 5,160 |
Adjustments to reconcile loss to net cash used in operating activities: | ||||||||||
Gain (loss) on disposal of property and equipment | ||||||||||
- | -15 | -2 | -11 | -9 | -15 | -18 | 0 | 0 | 9 | - |
Depreciation | ||||||||||
1,946 | 1,856 | 1,303 | 1,246 | 1,337 | 1,285 | 1,136 | 560 | 545 | 520 | 491 |
Stock-based compensation | ||||||||||
2,360 | 1,440 | 2,060 | 980 | 1,066 | 1,220 | 1,344 | 1,287 | 1,213 | 1,496 | - |
Amortization of intangible assets | ||||||||||
3,755 | 4,165 | 3,746 | 2,836 | 1,549 | 1,736 | 1,755 | 589 | 1,005 | 158 | - |
Amortization of deferred commissions | ||||||||||
1,199 | 1,351 | - | - | - | - | - | - | - | - | - |
Amortization of operating lease right-of-use assets | ||||||||||
-1,331 | - | - | - | - | - | - | - | - | - | - |
Interest and accretion of discount on convertible notes | ||||||||||
568 | 40 | 480 | - | - | - | - | - | - | - | - |
Compensation related to options granted to employees and non-employees | ||||||||||
- | - | - | - | - | - | - | - | - | - | 1,377 |
Accrued interest, accretion of discount and exchange rate differences on credit line | ||||||||||
- | - | - | 19 | -69 | -124 | -84 | 0 | 0 | - | - |
Accretion of discount on convertible notes | ||||||||||
- | - | - | 0 | 0 | - | - | - | - | - | - |
Change in fair value of embedded conversion feature on convertible notes | ||||||||||
- | - | -1,349 | 0 | 0 | - | - | - | - | - | - |
Other income related to investment in affiliate | ||||||||||
- | - | 450 | 0 | 0 | - | - | - | - | - | - |
Accretion and change in fair value of earn-out consideration, net | ||||||||||
- | - | - | 0 | -27 | - | - | - | - | - | - |
Accretion and change in fair value of earn-out liabilities, net | ||||||||||
- | - | - | - | - | -445 | - | - | - | - | - |
Other expenses related to the earn-out consideration | ||||||||||
257 | -97 | -117 | -774 | 0 | 0 | - | - | - | - | - |
Deferred taxes, net | ||||||||||
-322 | -182 | -175 | -212 | -257 | -318 | - | - | - | - | - |
Accretion and change in fair value of earn-out liabilities, net | ||||||||||
- | - | - | - | - | - | -2,398 | 224 | 0 | - | - |
Deferred taxes, net | ||||||||||
- | - | - | - | - | - | - | - | - | -1,096 | -2,404 |
Loss from sale of investment in affiliate | ||||||||||
- | - | - | - | - | - | 1,289 | 0 | 0 | - | - |
Deferred taxes, net | ||||||||||
- | - | - | - | - | - | -4,980 | 806 | 1,385 | - | - |
Changes in assets and liabilities: | ||||||||||
Trade receivables | ||||||||||
-1,535 | 596 | -77 | -759 | -716 | -866 | -868 | 2,194 | -130 | 1,036 | 318 |
Prepaid expenses and other receivables | ||||||||||
171 | -530 | 362 | 82 | -36 | -839 | 511 | 541 | 79 | -287 | 271 |
Deferred commissions | ||||||||||
961 | 2,307 | - | - | - | - | - | - | - | - | - |
Change in short-term cash deposit | ||||||||||
- | - | - | - | - | - | - | - | - | - | -740 |
Decrease (Increase) in long-term lease deposits | ||||||||||
- | - | - | - | - | - | - | - | - | 22 | 1 |
Payment for business acquisitions, net of cash acquired | ||||||||||
- | - | - | - | - | - | - | 10,243 | 0 | 4,600 | - |
Change in long-term lease deposits | ||||||||||
-45 | 105 | -28 | 184 | 12 | -1 | 17 | 17 | -1 | - | - |
Trade payables | ||||||||||
-759 | 264 | 36 | 124 | -110 | -542 | -248 | 300 | 17 | 138 | 112 |
Employees and payroll accruals, accrued expenses and other liabilities | ||||||||||
-1,028 | 516 | 780 | -288 | -595 | -496 | 595 | -1,085 | 981 | 163 | 261 |
Deferred revenues | ||||||||||
2,932 | 720 | -841 | 2,305 | -1,069 | -1,047 | 1,180 | -164 | -390 | -697 | 706 |
Accrued severance pay, net | ||||||||||
58 | -121 | 4 | 88 | 52 | 18 | -105 | -2 | 66 | - | - |
Operating lease liabilities | ||||||||||
-1,246 | - | - | - | - | - | - | - | - | - | - |
Other long-term liabilities | ||||||||||
151 | 274 | 302 | -11 | 41 | 100 | 0 | 0 | - | - | - |
Net cash provided by (used in) operating activities | ||||||||||
- | - | - | - | - | -3,660 | 99 | -347 | 6,701 | - | - |
Increase (decrease) in accrued severance pay, net | ||||||||||
- | - | - | - | - | - | - | - | - | -10 | -32 |
Net cash used in operating activities | ||||||||||
-6,882 | -11,457 | -7,192 | 2,114 | -1,994 | - | - | - | - | 4,317 | 5,082 |
Cash flows from investing activities: | ||||||||||
Capitalization of technology, net of grants received | ||||||||||
3,696 | 1,984 | 3,567 | 2,824 | 1,751 | 0 | 0 | - | - | - | - |
Proceeds from sale of investment in affiliate | ||||||||||
- | - | 450 | 0 | 0 | - | - | - | - | - | - |
Proceeds from sale of property and equipment | ||||||||||
3 | 1 | - | 0 | 5 | 9 | 4 | 0 | 0 | 9 | - |
Proceeds from sale of investment in affiliate | ||||||||||
- | - | - | - | - | - | 194 | 0 | 0 | - | - |
Sale of marketable securities | ||||||||||
- | - | - | - | - | - | - | - | - | - | 2,000 |
Investment in affiliate | ||||||||||
- | - | - | - | - | - | 80 | 176 | 0 | - | 477 |
Purchase of property and equipment | ||||||||||
1,470 | 3,320 | 1,771 | 985 | 1,222 | 771 | 2,053 | 805 | 526 | 568 | 412 |
Net cash used in investing activities | ||||||||||
- | - | - | - | - | -762 | -1,935 | -11,241 | -525 | - | - |
Net cash used in investing activities | ||||||||||
-5,163 | -5,303 | -4,888 | -3,809 | -2,968 | - | - | - | - | -5,137 | 1,852 |
Cash flows from financing activities: | ||||||||||
Proceeds from a Rights offering, net | ||||||||||
7,967 | - | - | - | - | - | - | - | - | - | - |
Proceeds from private offerings, net | ||||||||||
- | - | 18,971 | 0 | 11,524 | 10,239 | 0 | 0 | - | - | - |
Proceeds from convertible debenture, net of debt issuance costs | ||||||||||
- | 10,000 | 6,300 | 0 | 0 | - | - | - | - | - | - |
Payment of earn-out consideration | ||||||||||
-2,680 | -604 | - | 0 | 457 | 351 | 3,994 | 3,400 | 0 | - | - |
Purchase of treasury shares | ||||||||||
- | - | - | - | - | - | - | 1,720 | 0 | 3,820 | 3,538 |
Proceeds from credit line | ||||||||||
- | - | - | 0 | 4,400 | 6,800 | 6,165 | 0 | 0 | - | - |
Repayment of credit line | ||||||||||
- | - | - | 4,150 | 5,200 | 5,270 | 3,004 | 0 | 0 | - | - |
Proceeds from options exercised | ||||||||||
743 | 1,393 | 93 | 84 | 153 | 384 | 1,241 | 890 | 1,260 | 797 | 218 |
Net cash provided by (used in) financing activities | ||||||||||
6,030 | 10,789 | 25,364 | -4,066 | 10,420 | - | - | - | - | -3,023 | -3,320 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||
-14 | -101 | 98 | - | - | - | - | - | - | - | - |
Increase (Decrease) in cash, cash equivalents and restricted cash | ||||||||||
-6,029 | -6,072 | 13,382 | - | - | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||||
- | - | - | - | - | 11,802 | 408 | -4,230 | 1,260 | - | - |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
- | - | - | 3 | -142 | -74 | 48 | 87 | 0 | - | - |
Increase (decrease) in cash and cash equivalents | ||||||||||
- | - | - | -5,758 | 5,316 | 7,306 | -1,380 | -15,731 | 7,436 | -3,843 | 3,614 |
Cash paid (received) during the year for: | ||||||||||
Taxes, net | ||||||||||
- | - | - | 299 | 190 | - | - | - | - | - | - |
Taxes, net | ||||||||||
- | 161 | 50 | - | - | 207 | 352 | 148 | 67 | - | 0 |
Interest | ||||||||||
769 | 92 | 130 | - | - | - | - | - | - | - | - |
Supplemental disclosure of non-cash transactions: | ||||||||||
Interest | ||||||||||
- | - | - | 60 | 185 | 279 | 142 | 0 | 0 | - | - |
Non-cash transactions: | ||||||||||
Unpaid purchases of property and equipment | ||||||||||
-273 | -383 | -217 | - | - | - | - | - | - | - | - |
Purchase of property and equipment by credit | ||||||||||
- | - | - | -39 | -82 | -324 | -145 | -48 | -16 | -55 | -9 |
Net change in accrued payroll expenses related to capitalization of technology | ||||||||||
-288 | -110 | -255 | -304 | -178 | - | - | - | - | - | - |
Issuance of shares for payment of interest on convertible notes | ||||||||||
143 | - | -8,231 | 0 | 0 | - | - | - | - | - | - |