Instructure, inc. (INST)
CashFlow / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Operating Activities:
Net loss

-23,005

-20,923

-20,749

-16,142

-7,587

-11,473

-12,537

-11,868

-9,744

-11,471

-10,268

-11,601

-7,556

-12,317

-14,590

-13,739

-12,122

-10,212

-13,334

-17,310

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment

2,867

2,843

2,612

2,320

2,311

2,320

2,105

2,013

1,865

1,629

1,456

1,237

1,149

946

974

912

799

737

613

523

Amortization of intangible assets

2,632

2,855

2,640

1,208

674

673

676

763

242

71

117

142

121

120

87

77

77

77

78

77

Amortization of deferred financing costs

0

0

4

5

4

5

3

7

7

8

10

6

12

11

11

12

0

22

17

15

Change in fair value of mark-to-market liabilities

-

-

-

-

0

0

-1,144

-122

-1

15

76

7

-10

10

0

-62

117

9

39

488

Stock-based compensation

13,114

14,094

15,366

13,938

6,645

5,683

5,675

4,744

3,963

4,267

4,067

3,373

2,973

2,804

2,662

2,235

1,537

1,012

758

5,929

Other

332

-118

-651

-219

320

142

-964

65

25

24

-68

2

-28

167

-75

28

28

54

84

27

Changes in assets and liabilities:
Accounts receivable, net

-3,494

-67,589

82,406

-9,106

-11,368

-45,993

68,724

-8,720

-2,388

-37,219

59,786

-5,297

-5,154

-18,091

34,579

-2,601

-1,697

-16,938

23,302

-3,135

Prepaid expenses and other assets

-169

-10,660

-2,262

19,927

2,385

1,550

1,241

-2,623

7,308

-167

-3,483

5,518

1,265

-716

2

-135

-348

570

1,863

588

Deferred commissions

-4,892

1,781

5,252

538

212

240

1,144

-212

1,157

732

2,342

759

-

-

-

-

-

-

-

-

Right-of-use assets

-606

-1,285

320

-1,145

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued liabilities

4,184

-1,777

7,506

3,126

-13,046

7,231

942

2,068

-7,457

5,999

3,720

-1,522

-571

2,606

1,182

515

442

-449

3,263

682

Deferred revenue

-17,803

8,168

61,564

-29,763

-18,003

6,147

53,419

-22,555

-8,929

6,053

47,913

-18,274

-10,682

8,666

35,296

-11,502

-5,425

11,957

20,633

-6,794

Lease liabilities

-662

-1,649

1,183

-1,234

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

261

233

-464

-1,372

-1,055

-351

275

139

95

139

205

35

-215

-125

-454

75

Other liabilities

-3,539

946

1,818

786

-

-

-

-389

-

-

-

-

16

-31

-303

-27

-28

-24

-237

-24

Net cash provided by (used in) operating activities

-12,719

82,192

-14,423

-36,189

-20,172

54,698

-22,081

-12,347

-25,051

43,568

-11,897

-27,749

-14,866

21,650

-9,542

-18,850

-12,315

19,676

-12,797

-13,915

Investing Activities:
Purchases of property and equipment

2,758

2,491

2,658

2,336

2,244

1,498

2,543

4,847

4,920

3,875

3,810

3,145

2,099

1,512

1,142

2,268

2,233

1,324

2,212

927

Purchases of intangible assets

-

-

-

-

-

-

-

-

9

0

11

290

410

15

145

151

-

-

-

-

Proceeds from sale of property and equipment

32

25

22

24

10

26

26

26

26

12

23

15

40

5

10

8

11

35

9

9

Purchases of marketable securities

12,865

0

0

15,394

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of marketable securities

2,300

5,014

23,186

32,500

23,750

32,150

0

5,700

5,400

0

10,000

13,900

4,800

0

0

325

1,119

0

0

500

Business acquisitions, net of cash received

-330

6

30,458

24,829

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-12,961

11,328

-9,908

-10,035

-174

-13,051

-50,958

879

-2,500

-11,951

6,202

10,480

-2,058

-25,885

-1,277

-2,086

-1,103

-1,592

-3,356

-418

Financing Activities:
Proceeds from common stock offerings, net of offering costs

-

-

-

-

0

0

-14

109,803

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of redeemable convertible preferred stock warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

250

Proceeds from issuance of common stock from employee equity plans

5,860

1,445

4,045

1,518

3,707

1,511

4,417

2,832

4,606

1,453

3,278

1,038

2,515

1,183

3,188

123

-

-

-

-

Shares repurchased for tax withholdings on vesting of restricted stock

1,143

1,456

363

275

72

78

128

127

78

91

81

42

-

-

-

-

-

-

-

-

Repayment of capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16

57

76

74

Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

65

Net cash provided by financing activities

4,717

-11

3,682

1,243

3,635

1,433

4,257

112,508

4,528

1,355

3,173

996

2,488

1,183

3,188

123

72,119

78

-62

241

Net increase (decrease) in cash and cash equivalents

-20,963

93,509

-20,649

-44,981

-16,711

43,080

-68,782

101,040

-23,023

32,972

-2,522

-16,273

-14,436

-3,052

-7,631

-20,813

58,701

18,162

-16,215

-14,092

Supplemental cash flow disclosure:
Cash paid for taxes

30

73

83

61

67

43

27

61

29

72

48

127

114

18

2

29

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

7

4

7

Non-cash investing and financing activities:
Issuance of common stock for exercise of common stock warrant

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

244

-

-

-

-

Capital expenditures incurred but not yet paid

-207

-195

236

482

181

174

-257

275

250

-186

-74

284

-36

156

-317

371

-26

-478

488

154

Acquisition consideration not yet paid

-

-

-93

149

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock for acquisitions

0

0

12,164

17,848

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Vesting of common stock subject to repurchase

-

-

-

-

-

-

-

-

-

-

-

-

5

13

-1

8

8

8

13

19