Extreme networks, inc. (EXTR)
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'11Dec'10Sep'10
Cash flows from operating activities:
Net loss

-44,352

-23,538

-37,738

-17,055

-6,932

7,199

-9,065

-5,632

-13,613

-31,923

4,376

13,204

-4,977

-4,229

-5,742

-6,819

-10,784

-7,234

-11,526

-15,660

-23,548

-13,105

-19,330

-16,231

-25,057

-15,987

-35

3,184

-2,220

-4,206

12,915

7,810

2,373

4,106

1,583

-2,087

-6,841

8,929

2,712

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

7,468

7,150

7,101

6,874

6,550

6,693

6,783

8,083

7,324

4,968

3,125

2,884

2,884

2,395

2,437

2,598

2,838

2,290

3,076

3,180

3,246

3,369

3,037

2,861

3,624

2,706

1,437

1,154

1,097

1,121

1,171

1,347

1,399

1,261

1,341

1,839

1,824

1,609

1,539

Amortization of intangible assets

8,688

9,347

8,425

6,250

6,182

6,479

7,073

7,814

6,748

6,714

4,309

1,941

2,188

3,953

7,640

7,663

7,713

8,103

8,891

8,974

8,980

8,996

9,001

9,834

11,940

6,711

286

320

367

363

438

417

371

511

519

525

524

528

503

Amortization of operating lease right-of-use assets

-

-

4,317

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

641

225

401

38

508

346

515

121

386

691

489

314

-133

-69

223

292

-1,274

1,566

556

-71

1,797

1,569

951

1,468

523

539

-164

383

-605

497

-448

217

-18

68

-140

-39

0

30

0

Provision for returns reserves

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

229

-

-

-

-

Provision for excess and obsolete inventory

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

37

-

3,454

-111

11

Share-based compensation

7,143

10,958

8,834

8,558

8,814

8,700

6,825

7,987

7,818

7,025

4,803

3,305

2,472

3,381

3,475

2,672

3,504

3,945

4,671

3,866

4,372

4,750

4,813

6,048

4,841

3,458

1,575

1,728

1,841

1,616

2,168

1,537

1,476

1,281

1,895

1,468

1,295

376

2,109

Deferred income taxes

492

444

357

264

486

-6,491

-25

-2,777

235

-2,623

488

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-149

-90

23

37

-7

1,500

-3

140

-709

Non-cash restructuring and impairment charges

0

3,783

3,839

-

-

-

-

-

-

-

-

-

-

-

-

0

1,243

1,876

1,344

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in accrued investment income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-396

-579

-668

-578

-961

-620

-801

-1,164

-315

Change in value / loss on value of UBS option to put securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-2,429

Unrealized/realized gain on equity investment

-

-

-

-

-

-428

154

210

0

0

3,757

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,429

Loss (gain) on disposition of long lived assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-166

0

-86

11,537

0

0

0

0

-

-

-

-

Non-cash interest expense

1,088

1,078

904

714

776

537

995

1,947

1,603

283

227

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gain/(loss) on foreign exchange transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-371

338

-83

283

366

-1,337

894

-30

1,187

Other

1,130

-813

78

-39

-359

172

172

-1,545

980

-607

-701

-369

-700

938

-695

1,250

-804

-51

326

-1,695

-116

32

-544

-1,399

-858

-1,131

-278

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net of acquisitions
Accounts receivable

-62,937

7,739

-33,490

32,997

-2,760

-19,907

-46,661

24,142

34,188

5,426

5,762

21,183

-14,988

24,362

-16,606

26,268

-11,714

16,671

-31,851

13,939

-12,996

-4,891

-23,733

31,945

2,801

29,880

-8,510

4,415

423

8,374

-6,908

-4,808

7,148

10,225

-4,962

-936

-12,233

7,187

-2,394

Inventories

-13,216

-5,265

2,108

5,944

-652

2,717

-8,287

-12,221

-5,571

6,364

-5,915

-2,689

-411

-7,625

3,312

-12,937

-3,846

-5,079

3,666

-8,798

12,381

-910

-1,769

-6,033

208

-1,117

14,222

510

-2,209

-4,887

-3,856

3,792

1,426

-1,660

1,468

-595

-1,954

3,637

-1,343

Prepaid expenses and other assets

-712

-212

486

-14

-5,397

4,576

7,814

4,303

4,899

-3,044

1,856

314

-1,208

-5,358

-1,465

2,702

-1,619

-1,409

1,132

3,046

-814

690

-682

-3,642

3,827

-4,546

2,073

-514

-108

-1,082

-173

464

419

-1,969

-4,203

2,138

1,557

3,342

1,544

Accounts payable

-12,460

2,128

-11,198

16,498

13,702

-8,799

-31,251

-10,068

11,365

8,505

9,042

-2,843

9,351

-1,290

-3,154

9,958

-4,892

-4,426

-10,202

-6,243

874

15,509

-7,313

1,170

-18,285

11,593

1,288

16,827

-1,005

-479

-7,617

-18

3,108

3,737

-2,909

1,145

-2,164

-1,220

-1,214

Accrued compensation and benefits

-20,973

7,241

-10,277

18,776

-13,651

10,113

-13,964

9,760

-8,513

9,094

-5,360

14,380

-406

6,402

-7,318

4,224

-6,075

7,620

-3,820

4,694

-1,974

764

-4,966

1,194

-1,125

-94

-545

2,621

-285

-397

-1,844

1,621

-1,770

1,804

-2,505

-1,261

-2,767

2,029

-582

Operating lease liabilities

-4,171

-4,420

-4,631

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-6,138

4,180

2,001

15,519

1,629

2,194

9,374

18,001

5,919

-204

4,650

1,568

-3,776

153

-2,622

-4,079

1,886

1,396

-4,125

3,435

-1,939

3,719

-3,111

7,893

1,080

10,935

-1,219

-

-

-

-

-

-

-

-

-1,621

-1,534

4,116

-1,173

Deferred distributor revenue, net of cost of sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,744

25

-6,899

5,187

4,507

5,121

-5,932

6,708

2,034

3,584

1,211

-

-

-

-

-

-

-

-

1,046

-1,600

1,682

-2,921

Restructuring liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

138

-894

-

-3,258

4,569

0

-

-

-

-

1,840

-376

-765

-912

Other current and long-term liabilities

-12,003

826

-3,355

7,398

-9,067

-12,560

10,262

-718

-644

6,179

-2,792

-464

-1,681

8,694

-819

-4,132

548

2,412

-2,167

2,989

-5,749

4,050

-2,246

3,700

-101

-7,291

6,492

-

-382

2,082

-47

3,501

3,780

4,183

-12,293

1,355

-28

-124

-2,481

Accrued warranty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

133

-303

17

-376

Other long-term liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,225

1,931

4,072

3,325

Net cash provided by operating activities

5,150

22,113

-202

25,443

17,891

27,281

34,330

20,773

-15,978

-4,350

18,598

15,322

24,673

9,714

9,574

11,453

4,946

7,441

6,526

3,859

-7,889

39,821

1,632

3,774

-25,748

-6,794

1,925

25,234

-1,074

1,025

7,052

7,406

2,453

7,898

-3,944

1,280

5,900

8,445

1,152

Cash flows from investing activities:
Capital expenditures

3,192

4,199

5,239

6,549

5,041

3,723

7,417

18,412

8,690

5,888

7,421

2,593

3,170

3,027

1,635

2,530

1,388

776

633

1,595

1,648

1,178

2,784

4,989

4,822

2,754

9,808

8,315

1,396

1,464

1,562

816

2,410

1,263

748

1,512

1,778

1,045

1,362

Business acquisitions, net of cash acquired

0

0

219,458

-

-

-

-

0

0

29,534

68,047

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Maturities and sales of investments

0

29,746

15,503

194

0

0

727

599

0

0

4,922

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,599

14,227

18,820

7,066

22,533

19,303

12,919

21,096

21,575

20,076

26,606

43,541

Proceeds from maturities of investments and marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,506

18,815

1,000

2,000

2,000

6,660

7,000

13,062

2,500

4,545

9,322

0

1,998

14,408

3,589

10,300

11,500

10,300

6,000

5,800

Proceeds from sales of investments and marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,846

7,620

8,277

9,915

8,886

7,449

12,337

33,144

Purchases of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

150

167

252

87

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

42,659

-

0

0

0

-

-

-

-

Net cash used in investing activities

-3,192

25,547

-209,194

-6,355

-5,041

-3,723

-6,690

-17,813

-8,690

-35,422

-70,546

-2,593

-13,409

-54,115

-1,635

-2,530

-1,388

-776

-633

-89

14,017

8,706

-1,036

-3,076

3,854

-130,221

3,254

-7,654

-7,047

-2,850

34,031

-6,505

40

-2,316

-1,629

-2,701

-4,105

-9,314

-5,959

Cash flows from financing activities:
Borrowings under Revolving Facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

24,000

24,000

24,000

35,000

0

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings under Term Loan

0

0

199,500

-

-

-

-

190,000

0

20,000

80,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of debt

4,817

4,851

20,099

2,472

2,470

2,467

12,466

180,435

4,592

4,593

4,093

2,263

2,262

2,263

3,250

3,250

3,250

18,250

1,625

1,626

20,624

31,625

24,813

24,812

812

813

0

-

-

-

-

-

-

-

-

-

-

-

-

Loan fees on borrowings

0

-1

10,515

0

0

272

273

1,717

0

0

1,494

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock, net of tax withholding

6,585

-1,230

4,136

-1,560

8,039

-2,132

7,137

-1,316

6,193

-1,578

42

2,642

4,349

1,415

3,416

177

2,130

475

1,855

-237

733

-16

1,738

1,721

1,493

3,004

1,799

4,545

925

1,021

593

639

55

78

620

395

862

187

86

Contingent consideration obligations

-

-

635

-

-

-

1,577

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred payments on an acquisition

794

1,206

1,000

-

1,000

1,000

1,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

54,526

-38,651

171,387

-6,264

3,151

-23,150

-8,179

15,532

930

13,829

74,455

380

2,087

46,075

166

-3,073

-1,120

-2,775

230

-1,863

-19,891

-31,641

925

909

24,681

102,191

1,799

1,043

-3,877

-5,150

593

639

1,056

78

620

893

1,364

187

86

Foreign currency effect on cash

-548

36

-229

-30

169

68

-433

-530

-193

37

57

61

143

-153

38

-62

31

-50

-323

251

-1,142

-1,981

-644

228

264

120

227

-412

-176

29

440

-267

355

-455

-805

121

342

-5

342

Net increase in cash

55,936

9,045

-38,238

12,794

16,170

476

19,028

17,962

-23,931

-25,906

22,564

13,170

13,494

1,521

8,143

5,788

2,469

3,840

5,800

2,158

-14,905

14,905

877

1,835

3,051

-34,704

7,205

18,211

-12,174

-6,946

42,116

1,273

3,904

5,205

-5,758

-407

3,501

-687

-4,379