Healthstream inc (HSTM)
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
OPERATING ACTIVITIES:
Net income

7,092

3,683

3,712

2,401

5,974

2,790

3,035

2,546

23,846

3,948

2,504

2,267

1,285

-311

1,163

1,402

1,501

1,811

2,615

1,473

2,722

2,647

3,436

2,363

1,948

1,760

2,296

2,421

1,941

1,821

1,977

2,427

1,420

1,792

1,796

1,830

1,526

Income from discontinued operations

-

129

251

0

1,194

-141

0

-1,110

20,217

778

769

43

-424

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

7,449

7,240

7,149

6,941

6,539

6,134

6,006

6,018

6,073

6,173

5,971

6,001

5,902

4,390

5,755

5,081

5,140

4,849

4,639

4,256

3,253

2,993

2,815

2,722

2,401

2,040

2,039

1,897

1,876

1,882

1,673

1,572

1,534

1,544

1,470

1,355

1,043

Stock based compensation

550

601

569

2,558

516

471

460

427

419

495

401

436

404

379

512

504

500

493

440

1,938

409

403

388

450

384

370

378

400

310

299

296

299

242

191

223

184

190

Amortization of deferred commissions

2,200

2,000

2,100

2,100

2,100

2,000

2,000

1,900

1,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

288

112

51

46

2

343

300

0

390

748

350

270

200

250

100

150

90

100

65

112

7

67

100

0

70

20

0

75

20

-

-

-

-

-

-

-

-

Deferred income taxes

500

364

-263

1,633

433

2,356

25

28

608

-2,854

294

-110

526

-

-

-

-

-

-

-

-

-3,195

1,354

1,770

1,395

-2,054

1,569

1,712

1,279

1,401

1,620

1,640

940

1,125

830

1,021

1,051

Loss (gain) on non-marketable equity investments

-11

-

-

-

54

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash royalty expense

-3,440

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on equity method investments

-

-

-

-

-

17

20

-2

7

0

0

0

-5

-14

210

-33

-43

-

-

-

-3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of non-marketable equity investments

-1,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-47

-29

17

56

28

-

-

-

-30

-58

-614

115

148

-1,872

239

268

339

463

552

161

225

312

330

376

376

497

449

406

308

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts and unbilled receivables

4,573

2,019

-1,605

-10,632

-1,387

9,915

-1,960

-5,769

1,864

3,297

3,512

-3,376

-4,558

1,109

1,133

10,173

-4,451

3,385

406

-2,006

-1,049

4,799

-1,667

-1,549

5,107

2,744

1,168

-1,343

7,487

-776

-2,770

2,279

40

3,077

486

-641

2,075

Prepaid royalties

3,202

22

-94

-4,446

2,820

-609

331

-3,828

2,467

-1,040

274

-1,711

431

1,717

3,085

-1,821

1,027

60

-1,632

633

1,945

199

134

1,174

2,667

610

6,010

151

-1,652

1,897

-57

39

-1,550

1,496

-148

-344

-741

Other prepaid expenses and other current assets

-735

-772

-1,344

-2,495

-251

3,256

-5,850

6,002

530

32

-733

1,315

-589

850

-797

1,912

-789

777

171

702

-278

1,762

-445

845

-140

299

88

550

270

631

-792

466

232

-3

56

44

186

Deferred commissions

1,602

3,955

2,259

1,883

1,382

4,959

2,472

2,492

1,654

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

-134

-136

-213

375

16

26

3,751

-3,499

-248

73

-78

112

94

-359

588

-238

-314

-822

532

-1,097

277

1,840

-26

-27

-26

-79

27

-26

-27

-

-

-104

-146

31

-63

-89

-91

Accounts payable and accrued expenses

-5,775

2,175

2,983

1,326

-5,386

12,819

-2,724

-2,013

-6,074

4,034

1,178

1,548

-976

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,879

2,364

-798

1,146

-2,849

3,953

-519

-1,596

604

462

244

318

230

502

-643

-228

-1,160

1,284

574

-647

-1,000

Accrued royalties

442

1,531

1,742

-5,636

3,342

534

4,671

-2,804

506

-123

2,050

-935

-1,024

-740

5,334

-1,687

768

1,049

525

-1,002

-774

2,634

-4,535

249

2,472

362

4,458

56

-1,477

-

-

-

-

-

-

-

-

Deferred revenue

6,453

533

-2,782

-6,071

6,400

4,445

-2,619

-5,140

8,417

912

2,096

-7,101

3,541

3,352

4,708

-3,256

-3,218

747

-287

-1,168

6,881

2,553

229

6,090

8,599

2,857

6,517

108

5,279

-966

-1,643

937

1,474

2,270

575

-169

3,342

Accrued liabilities, accrued compensation and related expenses, and other long-term liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,099

-7

2,437

620

25

5,146

808

927

-1,447

4,890

1,113

-577

167

1,309

191

1,502

-2,460

145

499

660

-1,180

Net cash provided by continuing operating activities

-

-

-

-

-

14,446

13,599

6,654

9,551

10,251

11,188

6,108

15,057

8,905

14,698

-5,427

5,712

9,398

6,388

10,124

9,007

5,581

6,573

12,908

9,194

3,843

11,852

7,504

3,855

-

-

-

-

-

-

-

-

Net cash (used in) provided by discontinued operating activities

-

-

-

-

-

-1

0

-1

-1,002

798

1,431

409

1,470

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

6,116

13,110

15,940

20,522

16,085

14,445

13,599

6,653

8,549

11,049

12,619

6,517

16,527

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,669

5,519

3,414

5,267

5,661

5,284

3,543

INVESTING ACTIVITIES:
Business combinations, net of cash acquired

21,421

9,000

0

16

18,002

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

88,075

0

-203

0

12,501

198

7,181

0

181

-

-

-

-

-

-

-

-

Proceeds from sale of discontinued operations, net of tax

-

-

-

-

-

-13,778

-1

-375

58,203

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of marketable securities

20,725

21,952

20,600

9,700

28,337

9,540

14,789

25,063

19,600

20,507

28,556

21,670

19,340

31,198

22,558

24,723

40,916

16,359

8,525

20,750

9,165

12,207

11,320

10,581

18,517

18,939

7,775

26,472

29,475

42,950

15,125

16,500

3,500

5

2,000

3,995

2,135

Purchases of marketable securities

14,130

24,586

18,584

14,057

30,101

0

15,819

28,654

12,612

3,989

30,429

20,650

28,211

24,194

11,551

29,308

41,912

6,454

1,006

76,761

7

17

12,278

18,870

13,176

18,505

16,095

21,987

29,552

22,893

22,974

13,926

58,383

12,556

0

0

4,728

Payments to acquire non-marketable equity investments

-

-

-

-

3,342

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments to acquire equity method investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,000

0

60

15

250

0

50

250

0

-

-

-

-

-

-

-

-

Proceeds for sale of long-lived assets

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

975

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments associated with capitalized software development

4,068

3,334

2,805

3,441

4,933

3,242

2,948

2,553

2,541

2,117

2,500

2,560

2,420

1,909

2,767

2,313

1,990

1,936

1,763

1,543

2,023

1,633

1,336

1,225

1,464

1,250

1,004

941

1,072

1,338

1,101

996

1,000

866

579

534

4,086

Purchases of property and equipment

1,010

546

1,853

8,260

11,338

2,824

1,072

1,412

1,858

687

1,170

2,727

931

936

636

549

2,685

2,082

1,958

1,741

2,313

1,500

621

1,319

1,104

2,030

1,171

499

744

1,131

1,176

1,246

763

555

1,752

1,100

708

Net cash (used in) provided by continuing investing activities

-

-

-

-

-

-10,304

-5,884

-7,931

60,792

13,714

-6,043

-4,267

-12,222

1,982

-42,333

-10,588

-4,696

5,887

2,798

-59,295

-84,253

8,057

-2,772

-10,848

-9,978

-3,044

-12,664

2,795

-2,074

-

-

-

-

-

-

-

-

Net cash used in discontinued investing activities

-

-

-

-

-

0

1

-1

-115

-544

-741

-839

-637

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-19,904

-15,477

-2,828

-9,840

-39,379

-10,304

-5,883

-7,932

60,677

13,170

-6,784

-5,106

-12,859

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,376

-2,572

-56,646

-13,972

-331

4,582

-7,387

Proceeds from exercise of stock options

-

0

0

183

31

0

30

184

2,368

91

92

131

99

51

0

39

55

0

51

30

247

222

410

13

449

261

1,375

782

900

32

69

126

596

222

460

361

199

Proceeds from borrowings under revolving line of credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

28,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes paid related to net settlement of equity awards

373

4

45

626

359

3

35

3

297

2

18

25

367

5

9

14

288

3

5

535

213

1

8

0

152

6

0

0

158

-

-

-

-

-

-

-

-

Payments of earn-outs related to acquisitions

-

0

1

0

37

0

1

0

37

-

-

-

-

-

-

-

-

0

5

609

19

154

9

256

5

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

9,876

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of cash dividends

30

5

1

0

52

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

2

0

2

Net cash used in continuing financing activities

-

-

-

-

-

-

-10

-32,172

2,034

-

74

106

-268

-

652

25

-233

-716

3,762

68,900

28,015

3,430

264

-243

292

3,635

1,264

464

742

-

-

-

-

-

-

-

-

Net cash used in discontinued financing activities

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-10,279

-9

-47

-443

-417

-103

-10

-32,172

2,034

89

74

106

-268

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

69

126

596

55,373

458

361

197

Effect of exchange rate changes on cash and cash equivalents

-46

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents

-24,113

-2,376

13,065

10,239

-23,711

4,038

7,706

-33,451

71,260

24,308

5,909

1,517

3,400

9,814

-26,983

-15,990

783

14,569

12,948

19,729

-47,231

-

-

-

-492

4,434

452

10,763

2,523

17,662

-3,638

3,073

-52,636

46,668

5,789

10,226

-3,647

NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock in connection with business combinations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

1

0

2,246

0

534

0

0

-

-

-

-

-

-

-

-