Gse systems inc (GVP)
CashFlow / TTM
Sep'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

-4,803

-4,200

-3,094

-354

5,568

5,481

5,327

6,557

960

1,734

1,018

1,422

1,444

-2,489

-4,095

-4,705

-7,155

-5,286

-5,777

-7,329

-6,067

-5,167

-11,380

-10,511

-10,679

-8,868

-511

1,174

2,678

2,720

2,318

2,801

0

0

0

Adjustments to reconcile net loss to net cash used in operating activities:
Loss on impairment

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Write-down of capitalized software development costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

404

429

503

515

499

446

369

342

343

356

359

383

404

431

464

493

515

536

535

545

549

544

556

570

590

1,136

852

562

1,268

450

485

497

0

0

0

Amortization of definite-lived intangible assets

2,068

2,206

1,971

1,612

1,281

699

421

335

218

241

280

289

343

393

444

494

455

368

280

193

160

175

191

207

233

573

443

313

1,812

1,217

1,087

948

0

0

0

Amortization of capitalized software development costs

447

532

518

507

470

438

470

469

464

457

444

408

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

The expense charged against earnings in the period resulting from remeasurement to fair value of contingent earn out liabilities related to acquisitions.

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized software amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-542

-374

-252

-205

32

-333

-541

0

0

0

-

0

0

0

-

0

0

0

Amortization of deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10

12

12

12

12

11

8

5

2

0

0

0

Change in fair value of contingent consideration, net

-

-

-

-

-

-

-

-

-

-

116

-207

-260

571

860

849

899

615

122

229

108

128

195

254

0

0

0

-

-

-

-

-

-

-

-

Change in fair value of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Stock-based compensation expense

1,141

1,534

1,496

1,526

2,134

2,254

2,503

2,472

2,523

2,308

1,899

1,550

1,034

758

654

541

605

644

668

712

683

711

764

810

877

905

918

914

836

788

744

727

0

0

0

Loss on equity method investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-233

-250

-95

-67

-55

-46

-98

-69

-156

-413

-200

-290

-238

-36

-200

-68

-41

0

0

0

Loss on derivative instruments, net

-113

-111

-101

-350

-433

-303

103

99

554

272

-60

-18

-327

-96

-110

-40

-28

21

57

209

664

517

102

265

-378

-280

-254

-121

-81

-230

-256

-68

0

0

0

Deferred income taxes

-706

-767

-1,394

644

-6,682

-6,926

-6,768

-6,678

105

120

87

123

267

243

171

171

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of equipment, software, and leasehold improvements

-

-

-

-

-

-

-

-

-

-

-

-3

-3

1

1

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Contract receivables, net

-4,823

-2,252

-4,415

5,656

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contract receivables

-

-

-

-

-

-

-

-

-

-

1,475

6,078

4,532

-1,059

-2,254

-2,530

-1,865

-286

-1,082

-10,347

-8,834

-7,173

-9,306

26

1,147

6,410

5,274

3,331

4,195

-3,081

3,079

2,099

0

0

0

Prepaid expenses and other assets

-346

-346

-1,307

-856

-1,198

-1,091

-1,531

-1,020

210

164

1,257

1,249

412

740

1,047

501

-1,656

-1,754

-2,338

-2,433

-1,367

-257

-303

-204

-287

-2,831

-1,412

-1,293

1,448

2,140

107

351

0

0

0

Accounts payable, accrued compensation, and accrued expenses

-2,273

-2,032

-3,931

-838

-1,958

-2,109

-73

-1,904

-2,204

-568

-1,449

961

45

97

637

-947

1,418

-522

-284

-2,136

-2,814

-3,391

-3,861

-1,947

-631

1,045

2,139

1,403

1,351

1,020

-2,248

-855

0

0

0

Unbilled contract receivables billed during October 2019

-3,961

-3,375

-5,042

-2,984

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

The net change during the reporting period in warranty obligations incurred but not paid.

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Billings in excess of revenue earned

-

-

-

-

-

-

-

-

-

-

9,470

12,257

4,001

866

-209

-552

279

2,550

1,433

2,441

1,509

-835

2,223

531

831

2,346

-1,024

792

-25

15

1,801

856

0

0

0

Accrued warranty

-

-

-

-

-

-

-

462

-273

-343

-297

-465

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued warranty reserves

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued warranty reserves

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-339

-138

-198

-256

-316

-685

-508

-193

0

0

0

-

-

-

-

Accrued warranty reserves

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Other liabilities

457

443

236

367

3

230

199

370

888

745

597

737

648

334

803

320

-12

263

-97

-467

-666

-369

-111

172

-536

-485

-517

-702

-94

-449

-272

-1,035

0

0

0

Cash used in operating activities

2,545

1,947

1,459

-3,483

-2,095

-1,952

644

7,262

9,267

11,981

9,602

10,152

3,591

3,662

3,128

1,016

2,801

1,545

351

6,649

2,650

-1,431

4,733

-3,176

-1,965

9,290

4,129

3,740

8,219

-660

2,140

1,568

0

0

0

Cash flows from investing activities:
Proceeds from sale of equipment, software and leasehold improvements

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of equipment, software and leasehold improvements

130

50

206

513

558

546

386

112

90

98

105

79

113

117

191

277

375

452

422

398

352

398

348

399

434

914

1,332

1,551

1,554

970

794

520

0

0

0

The cash outflow associated with the development or modification of software programs or applications to be sold to third parties that qualify for capitalization.

433

372

437

432

376

361

253

177

175

147

143

245

395

858

1,235

1,610

1,467

1,235

997

646

737

663

967

1,309

1,563

1,702

1,543

1,315

0

0

0

-

-

-

0

Payments to Acquire Equity Method Investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

469

469

469

925

456

0

0

0

Acquisition of DP Engineering, net of cash acquired

13,521

13,521

13,521

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

830

0

0

0

Restrictions of cash as collateral under letters of credit

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restrictions of cash as collateral under letters of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,328

3,388

3,172

0

0

0

-

-

-

-

1,777

9,105

3,347

5,600

5,668

0

0

0

Releases of cash as collateral under letters of credit

-

-

-

-

-

-

-

-

-

-

-

2,408

306

1,224

1,697

1,876

1,824

837

180

34

1,133

1,133

1,133

1,099

5,441

4,559

4,549

4,244

1,698

-3,537

-2,107

1,717

0

0

0

Release of cash as collateral under letters of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Drawdown of cash collateral on Emirates Simulation Academy, LLC line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

78

0

0

0

Cash used in investing activities

-14,050

-13,748

-23,773

-10,554

-11,180

-19,764

-9,705

-9,355

-6,562

1,981

2,160

2,114

-250

210

-706

-1,233

-4,277

-8,276

-7,725

-7,280

-3,161

26

-456

-883

779

1,042

-711

-868

-3,697

-3,516

-3,023

-6,673

0

0

0

Cash flows from financing activities:
Proceeds from issuance of long-term debt

14,263

14,263

24,417

10,154

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of long-term debt

3,507

2,800

2,313

1,642

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

187

117

121

136

-28

241

204

209

515

598

891

833

617

320

27

23

0

0

0

-

-

-

-

44

43

95

99

272

297

245

261

143

0

0

0

Payments on line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-749

-749

-749

-410

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Treasury stock purchases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

819

760

596

230

531

944

1,616

1,952

1,649

0

0

0

Contingent consideration payments to former owners of Hyperspring, LLC

0

0

0

1,701

1,691

1,552

1,508

404

414

553

597

1,421

2,621

2,803

2,803

1,700

500

318

318

500

509

1,211

1,420

1,899

1,890

1,227

1,824

845

0

0

0

-

-

-

-

This line item represents the shares withheld to pay taxes.

457

465

558

484

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

RSUs withheld to pay taxes

-

-

-

-

-

-

-

-

1,536

1,458

1,256

584

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash provided by financing activities

10,486

11,115

21,667

6,463

6,973

7,865

-1,627

-1,114

-1,435

-1,413

-962

-1,172

-2,004

-2,483

-2,776

-2,016

-1,249

-1,067

-1,067

-910

-677

-1,662

-2,230

-2,674

-2,607

-1,728

-1,955

-1,104

-1,083

-1,768

-1,282

-1,097

0

0

0

Effect of exchange rate changes on cash

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash, cash equivalents, and restricted cash

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash

-

-

-

-

-

-

-

391

-18

-105

-400

-431

-76

-241

-11

-266

-471

-550

-725

-519

-343

79

1

-10

48

221

60

292

207

-424

-103

-49

0

0

0

Net decrease in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

10,400

10,663

1,261

1,148

-365

-2,499

-3,196

-8,348

-9,166

-2,060

-1,531

-2,988

2,048

-6,743

-3,745

8,825

1,523

2,060

3,646

-6,368

-2,268

-6,251

0

0

0