Dasan zhone solutions inc (DZSI)
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

-8,771

-10,194

-3,996

2,384

-1,457

-487

1,827

1,355

141

4,158

1,387

-874

-3,498

-6,245

-4,789

-533

-3,761

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-366

-602

-

-2,705

369

302

1,432

1,596

1,056

230

699

-4,198

-2,102

-3,414

-4,642

-2,748

-1,896

-2,440

Adjustments to reconcile net loss to net cash Provided by (used in) operating activities:
Depreciation and amortization

1,256

1,005

1,343

1,350

1,417

669

652

682

699

712

752

1,172

1,181

2,009

627

269

268

292

728

174

210

1,651

102

93

90

101

92

92

82

82

77

80

77

467

447

443

453

Loss on extinguishment of debt

1,343

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

141

-

-

-

73

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bargain purchase gain on acquisition

-

-

0

0

334

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

782

690

1,182

811

825

723

617

377

363

232

195

220

255

208

128

0

0

0

-473

300

173

-531

364

108

59

57

55

134

178

48

834

263

169

-

-

292

231

Provision for inventory write-down

1,421

-

720

1,555

14

-

342

-23

434

845

377

315

311

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Allowance for doubtful accounts

24

7

34

-109

223

-

-

-

-130

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for sales returns

-231

-43

39

156

218

-

-

-

185

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gain on foreign currency transactions

1,983

-2,238

963

1,022

95

1,455

-367

161

-20

-971

425

631

-871

1,593

-1,248

-50

-357

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sales returns and doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

155

-104

-

77

-72

-210

-2,629

391

177

635

943

862

385

404

612

336

504

487

Deferred taxes

-820

246

405

460

19

258

26

101

-183

-2,915

0

0

0

2,477

-346

-38

-685

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-9,109

-6,652

18,081

19,573

-7,930

-5,090

-3,466

9,659

9,184

1,559

-5,711

7,382

1,277

16,800

-16,371

-2,256

4,177

-320

-12,821

-173

1,872

15,922

-1,115

4,681

-2,934

1,343

1,973

3,710

-944

657

1,511

2,147

-7,499

5,357

361

-2,086

158

Contract assets

-14,129

6,781

-9,055

1,269

6,967

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

7,048

-8,256

1,911

5,371

-3,828

-12,608

7,326

6,860

7,781

-7,814

-2,765

331

4,015

-2,272

648

395

3,064

-4,530

3,229

-1,825

-2,735

6,685

316

-536

-1,673

-1,617

1,036

-1,015

-246

-3,975

-2,279

1,139

-874

-2,065

1,806

-1,253

-2,143

Prepaid expenses and other assets

3,285

11,547

-3,597

-469

207

-5,339

2,177

-2,137

1,918

3,425

-835

435

501

-754

-10,315

-719

8,714

-2,700

2,972

-310

-158

8,489

744

256

-77

-185

532

-476

-192

-29

226

-430

151

89

-125

193

1

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

59

-18

-56

-68

Accounts payable

-1,261

1,065

2,370

10,871

-3,966

-19,088

6,292

12,485

6,013

-10,289

3,024

-3,043

6,732

10,302

-6,617

596

207

10,103

-14,521

-2,029

-229

7,739

870

4,172

-4,349

1,144

3,641

2,879

-2,204

-4,434

-374

2,753

-2,513

-346

2,105

-745

-1,081

Contract liabilities

-275

446

484

436

-5,166

-

-

-

-703

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued and other liabilities

-3,937

4,903

-521

-2,197

-1,331

-32

753

-2,964

-1,484

4,606

-8,432

4,857

-739

-3,839

-3,557

5,259

11,896

-8,434

5,910

-593

-298

3,025

-663

-105

-716

231

-692

-884

359

174

-476

-476

-1,075

-1,652

-166

-1,124

-1,482

Net cash provided by (used in) operating activities

594

-814

-6,054

-10,858

-4,976

3,496

-304

-1,882

-13,528

2,525

6,189

-6,132

-680

-9,746

12,732

8,183

-7,673

11,750

-7,619

-51

171

-17,634

-1,900

164

-140

749

1,542

1,235

662

867

-2,728

-1,893

1,870

-4,549

-1,119

676

-1,780

Cash flows from investing activities:
Increase in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

699

-508

756

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in short-term and long-term loans to others

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,462

109

320

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in short-term and long-term loans to others

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-783

563

1,606

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from short-term investments

-

-

-

-

-

-

-

-

-

0

0

423

1,040

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of short-term investments

-

-

-

-

-

-

-

-

-

-1

0

178

252

1,034

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from disposal of property, plant and equipment and other assets

-

-

-

-

-

1

0

0

1

0

0

0

6

-88

57

23

18

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property, plant and equipment

560

853

650

702

109

429

338

329

86

232

177

259

404

941

227

100

43

253

-105

284

362

768

205

133

31

177

111

98

116

30

135

101

93

153

447

527

253

Purchases of intangible assets

-

-

-

-

-

-

-

-

-

18

41

1

30

-31

2

59

31

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of business, net of cash acquired

-

-37

0

0

4,697

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-560

-816

-650

-702

-4,806

-428

-338

-329

-85

1,631

-218

-15

360

-1,288

8,387

-82

-2,098

-1,670

2,469

-284

-362

498

-205

-133

-31

-177

-111

-98

-116

-30

-135

-43

-93

-153

-447

-527

-253

Cash flows from financing activities:
Government grants received

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

29

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock in public offerings, net of issuance costs

-

-

-

-

-

-

-

77

111

93

27

0

1

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from short-term borrowings and line of credit

1,307

23,359

3,557

18,003

4,324

-

-

-

18,849

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of short-term borrowings and line of credit

4,167

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of short-term borrowings and line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term borrowings

-

0

0

0

25,000

-

-

-

-

-

-

0

0

-

5,000

0

1,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of borrowings

13,125

-

-

-

17,052

-

-

-

8,250

-

-

-

4,356

4,248

21,780

1,308

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from related party term loan

18,361

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from short-term borrowings from bank and trade facilities

-

-

-

-

-

-

-

-

-

-

5,099

6,109

2,570

-

19,575

-925

1,119

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from related party term loan

-

-

-

-

-

-

-

-

6,064

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of related party term loan

-

-

-

-

5,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

57

95

-

12

6

110

851

178

1

2

5

15

55

60

61

82

17

48

Repayments of borrowings from bank and trade facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

0

0

5,000

-

-

-

-

Deferred financing costs

-

-

6

-192

2,184

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

709

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

3,085

-18,138

-5,248

46,342

5,088

3,832

-8,994

7,391

16,774

3,329

-920

884

-1,785

-748

2,765

-2,228

2,944

-5,330

4,372

57

95

8,662

12

6

110

851

178

1

2

5

15

55

-4,940

5,061

82

17

48

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

-873

603

-605

-73

-306

-

-

-

110

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash and restricted cash

-

-

-

-

-

-

-

-

-

-

-90

-221

1,288

-

1,479

146

-87

-70

-369

18

-89

-226

-16

6

-20

-38

-30

-78

-5

3

-8

-20

4

-3

-30

3

-10

Net increase in cash, cash equivalents and restricted cash

2,246

-19,165

-12,557

34,709

-5,000

6,948

-10,170

4,187

3,271

8,209

4,961

-5,484

-817

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reconciliation of cash, cash equivalents and restricted cash to statement of financial position
Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,363

6,019

-6,914

4,680

-1,147

-260

-185

-8,700

-2,109

43

-81

1,385

1,579

1,060

543

845

-2,856

-1,901

-3,159

356

-1,514

169

-1,995

Cash paid during the period for:
Interest - bank and trade facilities

424

-

-

-

642

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest - related party

152

-

-

-

173

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes

1,504

-

-

-

589

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in accrued and other liabilities related to property and equipment purchases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-142

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-