Forrester research, inc. (FORR)
CashFlow / TTM
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

3,233

-9,570

-9,085

-2,436

3,797

15,380

12,098

12,101

10,377

15,140

18,837

17,996

19,392

17,651

13,881

15,219

13,509

11,996

13,575

12,168

10,707

10,865

9,427

8,893

10,789

13,024

15,741

23,700

25,284

26,296

29,296

24,560

22,261

21,991

0

0

0

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

8,955

8,572

8,209

8,053

7,982

7,955

7,929

7,571

6,965

6,648

6,605

6,939

7,526

7,812

7,924

8,188

8,208

8,350

8,497

8,466

8,659

9,325

9,550

9,668

9,681

9,268

9,365

9,335

9,288

8,921

8,534

7,692

6,382

5,359

0

0

0

Impairment of property and equipment

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

21,121

22,619

17,355

12,103

7,186

1,162

969

764

776

781

786

797

813

831

849

865

879

891

1,235

1,541

1,853

2,171

2,165

2,192

2,210

2,230

2,336

2,358

2,390

2,445

2,443

2,543

2,483

2,562

0

0

0

Net losses from investments

94

45

427

427

415

426

456

-299

-301

-479

0

0

0

-

-

-

-

-18

-27

-377

-344

-288

-2,374

-2,251

-2,196

-2,433

-888

-151

-165

94

-149

-896

-922

-399

0

0

0

Deferred income taxes

6,321

-3,957

-5,021

-7,052

-7,691

2,931

6,041

6,285

6,775

6,425

2,094

3,320

2,522

2,602

1,065

-880

-1,271

-985

-4,583

-6,076

-7,285

-7,526

-3,474

-2,117

-3,142

-4,529

-7,577

-12,052

-11,937

-10,967

-534

9,092

14,093

15,137

0

0

0

Stock-based compensation

11,801

11,684

10,714

9,762

9,022

8,300

8,258

8,316

8,404

8,490

8,668

8,460

7,890

7,976

8,193

8,447

8,296

8,347

8,181

7,940

7,683

7,444

6,611

6,488

6,138

6,051

6,064

5,613

5,934

5,397

4,470

4,473

3,527

3,642

0

0

0

Operating lease right-of-use asset amortization and impairments

13,902

12,592

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing fees

982

968

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of premium (discount) on investments

-

-

-

-

-

-

-

-97

-171

-207

-249

-286

-513

-345

-1,516

-1,261

-773

-693

781

903

1,069

1,273

1,500

1,747

2,016

2,261

2,468

2,608

2,680

2,803

2,942

3,098

3,268

3,321

0

0

0

Foreign currency (gains) losses

-374

-933

-665

-664

-546

-603

-650

-709

-804

-632

-265

-132

330

81

-72

-115

-668

-38

29

108

270

-141

-371

-738

-702

-385

-271

-132

-341

-405

-470

-518

-720

-1,290

0

0

0

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

-9,013

-3,696

-4,115

-5,044

-13,906

-2,588

-1,390

-1,236

6,245

10,327

2,975

8,025

6,336

-7,963

-849

626

-618

718

-730

2,717

2,368

-9,140

2,579

1,284

-194

2,930

-7,333

-7,862

-2,627

-6,959

1,671

1,093

4,032

7,594

0

0

0

Deferred commissions

1,343

4,643

2,757

2,323

2,532

1,077

869

1,068

1,566

1,679

-493

-999

-1,029

-1,477

307

591

347

-225

-377

-293

-42

815

1,301

2,428

3,395

3,529

518

-520

-658

-2,607

-1,523

-1,402

-1,528

-589

0

0

0

Prepaid expenses and other current assets

8,695

3,697

257

1,446

-3,794

-285

3,235

5,336

9,738

4,146

2,440

-1,369

-3,986

-861

-3,952

-2,955

-3,944

-1,482

-727

-906

1,895

-620

3,257

5,069

3,483

-607

-6,228

-11,255

-13,083

-6,610

5,419

7,660

11,174

8,484

0

0

0

Accounts payable

-767

278

981

2,919

941

172

-373

-447

18

-1,600

-24

398

-931

1,317

60

27

419

-357

-384

-202

-232

-82

124

-196

248

222

-56

97

165

-490

-484

-1,098

-3,430

-1,898

0

0

0

Accrued expenses and other liabilities

-15,599

4,421

6,778

6,551

8,863

1,217

1,787

2,851

4,479

7,857

4,118

-118

2,671

58

3,130

3,256

-25

6,116

2,980

-938

-942

2,171

321

1,711

-1,490

3,547

178

-1,644

1,384

549

1,586

5,054

6,570

2,485

0

0

0

Deferred revenue

4,974

15,508

14,133

11,662

11,229

-604

3,854

5,508

4,323

8,586

5,696

6,386

2,816

-5,140

2,598

3,133

3,760

-2,120

-2,952

-4,278

-5,292

-6,220

4,380

6,169

5,600

1,673

12

1,044

1,652

1,706

8,398

7,223

15,051

16,645

0

0

0

Operating lease liabilities

-10,563

-10,953

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

44,241

48,406

46,608

43,661

56,601

38,418

38,062

38,886

25,844

37,493

43,035

39,915

42,355

44,477

44,063

40,670

39,270

33,976

29,162

18,275

12,073

28,795

26,212

28,763

28,264

30,713

42,733

50,979

53,714

53,147

51,703

56,700

58,169

55,444

0

0

0

Cash flows from investing activities:
Acquisitions, net of cash acquired

-

237,684

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

11,519

11,890

10,250

7,171

6,497

5,049

5,216

7,165

7,645

7,861

6,612

5,062

4,536

4,140

4,949

4,571

4,127

3,931

2,709

2,310

1,771

1,503

2,188

2,731

2,868

3,127

2,764

3,125

3,624

5,103

10,970

16,921

31,483

39,776

0

0

0

Purchases of marketable investments

-

-

-

-

-

41,810

36,311

20,898

32,011

31,910

28,638

38,546

46,060

36,763

35,555

25,914

8,241

20,587

28,808

26,796

29,892

35,386

32,196

32,196

60,588

44,667

45,846

65,344

55,245

91,421

118,112

131,261

122,172

113,909

0

0

0

Proceeds from sales and maturities of marketable investments

-

-

-

-

-

32,568

5,889

-3,239

5,845

6,545

19,187

19,402

8,305

4,815

30,618

28,507

27,092

26,960

24,930

46,126

44,756

60,112

71,298

82,407

111,270

105,086

103,678

87,633

74,995

91,335

107,257

114,311

109,141

93,090

0

0

0

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-946

-2,216

-4,313

-8,306

-14,542

0

0

0

Other investing activity

-

-

-

-

-

-

-

-

-

-343

-201

-211

-156

48

-23

-46

-123

-347

-346

-371

-355

-1,542

-1,601

-1,453

-1,580

-264

-235

-291

-209

-167

-307

-425

-499

-548

0

0

0

Net cash used in investing activities

-10,231

-249,545

-195,491

-203,815

-200,201

40,086

-12,832

-559

-1,739

-970

2,409

-5,724

-23,864

-17,865

-9,863

-1,932

14,847

2,789

-6,241

17,391

13,448

24,765

38,515

48,933

49,394

57,556

55,303

19,455

16,335

-4,076

-19,669

-29,633

-43,240

-53,036

0

0

0

Cash flows from financing activities:
Proceeds from borrowings, net of costs

-

171,275

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on borrowings

37,031

42,250

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance costs

-

857

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred acquisition payments

-

2,799

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid on common stock

-

-

-

-

-

14,502

14,265

14,012

13,780

13,631

13,496

13,374

13,248

12,987

12,712

12,481

12,311

12,179

12,072

11,960

11,896

11,962

12,022

12,108

12,179

12,394

12,532

12,646

12,743

12,588

0

0

0

-

-

-

-

Repurchases of common stock

-

-

-

-

-

9,946

9,946

13,183

22,881

39,967

0

0

0

-

-

-

-

20,931

25,248

30,012

49,177

73,166

0

0

0

-

-

-

-

29,843

26,187

22,062

17,538

18,405

0

0

0

Proceeds from issuance of common stock under employee equity incentive plans

4,921

6,327

7,392

13,622

13,851

13,020

15,857

17,312

18,313

18,506

20,613

17,459

18,275

16,734

10,435

5,588

3,180

3,347

5,087

6,689

8,762

8,969

9,662

11,060

17,496

17,387

17,183

15,094

10,665

11,215

13,075

11,763

11,496

11,554

0

0

0

Taxes paid related to net share settlements of stock-based compensation awards

3,071

2,258

2,249

2,554

2,549

2,526

2,525

2,092

2,537

2,527

2,511

1,843

2,100

2,069

3,496

2,191

1,464

1,459

119

175

242

244

207

199

650

737

631

651

271

345

494

525

677

525

0

0

0

Payment of deferred acquisition consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

864

0

0

0

-

-

-

-

Net cash provided by (used in) financing activities

-37,214

129,438

128,408

139,985

142,921

-13,954

-10,879

-11,975

-20,885

-37,619

-37,152

-35,975

-20,317

-113

-8,129

-18,291

-25,843

-31,222

-32,114

-35,108

-52,069

-75,915

-77,727

-81,916

-142,855

-113,380

-108,467

-102,800

-24,675

-31,735

-22,963

-16,869

-8,699

-6,326

0

0

0

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

-2,524

597

-2,608

-1,716

-5,026

-4,044

-2,254

-461

4,677

3,928

1,532

34

-2,652

-2,872

-1,521

-1,754

212

-1,862

-2,153

-3,029

-3,785

-2,127

-768

1,771

1,754

433

231

-214

-1,837

427

-1,757

-5,720

-3,423

-1,962

0

0

0

Net change in cash, cash equivalents and restricted cash

-5,728

-71,104

-23,083

-21,885

-5,705

60,506

12,097

25,891

7,897

2,832

9,824

-1,750

-4,478

23,627

24,550

18,693

28,486

3,681

-11,346

-2,471

-30,333

-24,482

-13,768

-2,449

-63,443

-24,678

-10,200

-32,580

43,537

17,763

7,314

4,478

2,807

-5,880

0

0

0

Supplemental disclosure of cash flow information:
Cash paid for interest

6,341

7,003

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for income taxes

4,940

4,433

4,216

4,612

4,354

4,174

6,034

7,830

10,987

10,433

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-