| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net loss (income) | |||||||||
1,919 | 1,934 | 27 | -593 | -1,222 | 2,351 | 2,862 | -655 | -6,836 | -332 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
4,538 | 4,655 | 4,689 | 4,425 | 3,898 | 3,552 | 2,963 | 3,000 | 3,020 | 2,856 |
Equity-based compensation | |||||||||
2,510 | 2,124 | 2,002 | 1,808 | 1,363 | 951 | 750 | 817 | 0 | 0 |
Provision for doubtful accounts | |||||||||
43 | 21 | -13 | -15 | 43 | 15 | -19 | -28 | 33 | 28 |
Amortization of deferred financing costs | |||||||||
- | 100 | - | - | - | 233 | 237 | 370 | 244 | 221 |
Amortization of capitalized client acquisition costs | |||||||||
96 | 88 | - | - | 0 | 0 | - | - | - | - |
Loss on disposal of assets | |||||||||
0 | 0 | 0 | 0 | 0 | -8 | 0 | 0 | 0 | -5 |
(Benefit from) provision for deferred income taxes | |||||||||
- | - | - | - | - | - | -214 | 0 | 0 | -468 |
Non-cash change in fair value of warrant liability | |||||||||
- | - | - | - | - | - | 0 | 242 | 6,564 | 1,681 |
Increase in non-cash contingent consideration expense from original estimate | |||||||||
-142 | 154 | 1,653 | -417 | 2,502 | -349 | 586 | 1,151 | 1,747 | 382 |
Changes in operating assets: | |||||||||
Accounts receivable | |||||||||
-869 | -1,218 | 1,328 | -950 | -697 | -2,111 | 4,526 | -745 | 540 | -2,000 |
Prepaid expenses and other current assets | |||||||||
-230 | 847 | -962 | 1,195 | -44 | 628 | 416 | -529 | -1,545 | 641 |
Other assets | |||||||||
931 | 377 | 400 | 1,110 | 1,136 | 123 | 188 | 1,427 | 1,489 | 78 |
Changes in operating liabilities: | |||||||||
Accounts payable | |||||||||
-1,070 | 960 | -4,257 | 3,244 | -29 | -726 | 448 | 1,035 | -538 | 227 |
Accrued expenses and other current liabilities | |||||||||
239 | -2,703 | 2,188 | -1,468 | 406 | 446 | -896 | 224 | 1,659 | 1,053 |
Deferred revenue | |||||||||
-750 | 178 | 5,221 | -1,021 | -735 | -877 | 2,910 | -948 | -1,004 | -1,081 |
Other long-term liabilities | |||||||||
-44 | -21 | 4 | -5 | -21 | -22 | 202 | 11 | 134 | 15 |
Contingent consideration paid in excess of original estimates | |||||||||
4,355 | 0 | 0 | 0 | 690 | 870 | 1,278 | 0 | 814 | 0 |
Net cash provided by operating activities | |||||||||
1,363 | 7,484 | 10,300 | 4,873 | 5,352 | 6,072 | 3,421 | 5,066 | 3,725 | 5,868 |
Cash flows from investing activities: | |||||||||
Expenditures for property and equipment | |||||||||
375 | 548 | 222 | 273 | 205 | 107 | 908 | 304 | 761 | 244 |
Expenditures for capitalized software | |||||||||
660 | 578 | 749 | 696 | 370 | 412 | 332 | 277 | 229 | 254 |
Purchases of merchant portfolios and residual buyouts | |||||||||
1,052 | 545 | 878 | 126 | 2,108 | 474 | 0 | 253 | 324 | 630 |
Acquisitions of businesses, net of cash acquired | |||||||||
0 | 0 | 10,174 | 85,638 | 20,224 | 21,000 | 5,500 | 0 | 6,000 | 20,862 |
Acquisition of other intangibles | |||||||||
12 | 111 | 0 | 27 | 12 | 33 | 359 | 16 | 802 | 0 |
Net cash used in investing activities | |||||||||
-2,099 | -1,782 | -12,023 | -86,760 | -22,919 | -22,026 | -7,099 | -850 | -8,116 | -21,990 |
Cash flows from financing activities: | |||||||||
Proceeds from revolving credit facility | |||||||||
49,708 | 31,283 | 38,572 | 97,419 | 27,500 | 25,000 | 8,000 | 3,750 | 13,000 | 2,500 |
Payments of revolving credit facility | |||||||||
164,745 | 38,390 | 37,005 | 2,862 | 5,250 | 6,750 | 4,750 | 74,500 | 7,750 | 8,600 |
Proceeds from notes payable to banks | |||||||||
- | - | - | - | - | - | 0 | 0 | 0 | 24,671 |
Payments of notes payable to banks | |||||||||
0 | 0 | 0 | 32,500 | 1,250 | 1,250 | 1,250 | 1,250 | 1,250 | 1,250 |
Payment of debt issuance costs | |||||||||
- | - | - | - | - | - | 0 | 5 | 52 | 209 |
Payment of equity issuance costs for Class A unit issuance | |||||||||
- | - | - | - | - | - | - | - | 337 | 509 |
Cash paid for contingent consideration | |||||||||
2,122 | 0 | 0 | 0 | 1,904 | 730 | 0 | 727 | 250 | 0 |
Proceeds from stock option exercises | |||||||||
2 | 472 | 282 | 390 | 0 | 0 | - | - | - | - |
Net cash (used in) provided by financing activities | |||||||||
1,641 | -6,635 | 1,798 | 82,953 | 18,073 | 16,270 | 1,777 | -2,497 | 3,361 | 16,603 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | |||||||||
905 | -933 | - | - | 506 | 316 | - | - | - | - |
Net (decrease) increase in cash, cash equivalents and restricted cash | |||||||||
- | - | - | - | - | - | -1,901 | 1,719 | -1,030 | 481 |
Supplemental disclosure of cash flow information: | |||||||||
Cash paid for interest | |||||||||
1,310 | 1,971 | 1,931 | 1,423 | 827 | 730 | -1,080 | 2,961 | 3,741 | 2,259 |
Cash paid for income taxes | |||||||||
-25 | 287 | -23,191 | 22,686 | 1,820 | 105 | 346 | -68 | 191 | 14 |