Innerworkings, inc. (INWK)
CashFlow / Quarterly
Dec'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) income

-4,270

-2,174

-1,169

-2,462

-29,762

-44,938

-299

-1,684

-1,299

7,116

4,374

5,678

-

4,226

-1,907

-3,136

-41,118

3,936

3,655

1,138

36,727

5,113

1,605

289

-468

-9,066

3,675

-2,801

26,287

4,303

4,515

3,687

5,987

4,138

3,700

2,790

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

3,389

3,090

3,232

2,617

2,550

3,265

3,514

3,659

3,987

3,317

3,182

2,904

3,534

5,066

4,720

4,596

4,629

4,485

4,266

4,090

4,791

4,387

4,373

4,170

4,669

3,880

2,648

2,465

2,713

2,696

2,936

2,444

2,781

2,495

2,472

2,422

Stock-based compensation expense

2,062

2,078

1,402

739

1,678

801

1,406

1,417

1,524

2,375

1,502

1,419

1,475

1,739

1,117

1,241

1,018

1,226

1,566

2,060

1,328

1,374

1,252

1,396

1,696

982

1,080

973

-

-

-

-

-

-

828

941

Stock-based compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

719

1,403

1,047

-

-

-

-

Deferred income taxes

-

-

-

0

-

-

-

30

3,625

-176

146

478

3,854

-185

1,103

-546

3,752

768

1,366

-7

-3,857

795

361

52

-4,679

3,305

135

585

-2,904

1,102

-96

902

2,167

-2,735

1,463

-145

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

-

-

-

-

-

-

-

-

0

-167

1,884

-1,040

442

788

7,276

1,911

-1,960

701

676

313

-36,129

-1,570

521

-695

-

-

-

-

-

-

-

-

-

-

-

-

Deferred financing cost amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

93

Gain on sale of investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

353

346

247

247

988

982

998

979

Accounts Receivable, Credit Loss Expense (Reversal)

-379

758

304

385

2,713

258

92

538

186

186

-93

175

738

1,433

-656

656

-1,452

1,214

1,048

874

1,332

207

375

68

912

213

144

13

-

-

-

-

467

340

1,031

574

Contract implementation cost amortization

50

37

70

143

89

81

138

125

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from exercise of stock awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-850

-2,834

115

951

-1,685

905

3,283

4,163

-

-

-

-

Change in fair value of contingent consideration liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-608

-

-330

-266

-200

-

-

-

-

Other operating activities, net

445

481

122

102

444

-35

-206

52

53

53

52

52

54

51

53

52

-104

157

104

52

53

102

104

104

72

55

55

55

533

-81

-93

175

-

-

-

-

Accounts receivable and unbilled revenue

-8,991

11,020

14,149

-3,924

1,340

15,833

2,522

-24,165

6,139

9,112

21,940

4,680

-8,922

6,835

-11,125

15,863

-21,241

17,558

10,311

3,951

-3,264

-1,250

6,180

13,127

-1,328

7,620

-2,754

1,304

-

-

-

22,809

8,508

1,633

-2,725

17,989

Accounts receivable and unbilled revenue

-8,991

11,020

14,149

-3,924

1,340

15,833

2,522

-24,165

6,139

9,112

21,940

4,680

-8,922

6,835

-11,125

15,863

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22,809

-

1,633

-2,725

17,989

Inventories

-29,747

13,255

4,661

-9,149

-430

16,382

2,218

-2,131

-13,481

19,616

-2,116

226

-16,382

9,302

1,178

-453

-20,774

13,116

10,845

6,488

-14,093

14,494

1,356

-1,121

-5,937

9,306

935

-2,920

3,487

1,586

135

-2,119

-6,390

7,759

1,789

-303

Prepaid expenses and other assets

-22,612

24,823

4,434

-116

-10,023

17,327

-6,483

-2,941

3,315

9,596

-196

1,167

584

13,364

226

-5,968

-5,476

13,436

-720

-3,099

-4,269

3,782

1,805

6,017

-1,332

3,289

-7,387

3,098

-13,161

19,264

-3,296

10,271

-11,073

10,328

-4,421

7,801

Accounts payable

-28,037

30,073

-9,319

-8,351

1,235

39,085

2,187

-20,922

10,701

4,025

11,766

-8,396

-6,857

-10,045

10,020

-31,526

18,507

4,471

5,973

-3,849

-21,756

-7,612

3,315

854

22,890

14,264

-11,222

3,710

-3,768

23,979

-21,395

16,003

1,010

18,390

-14,506

22,557

Advances to (from) related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

839

Accrued expenses and other liabilities

-

-

24,399

-870

-

-

-20,214

21,857

-

6,543

-4,992

4,923

4,526

4,433

-8,517

11,627

8,175

2,989

-3,974

-3,608

-4,059

2,379

1,652

3,372

-5,972

-1,921

-206

-4,020

1,119

-2,171

1,773

3,438

-8,526

9,430

-464

3,446

Net Cash Provided by (Used in) Operating Activities

32,248

-11,067

-4,203

5,492

12,953

-12,535

-11,669

34,309

28,437

-14,390

-2,469

120

33,292

-22,784

23,718

-24,566

55,947

-7,256

987

-6,275

3,522

-11,849

4,220

-8,408

27,907

6,553

3,752

-842

-

-

-

-7,472

10,807

12,147

-2,174

7,050

Cash flows from investing activities:
Purchases of property and equipment

3,366

3,131

3,536

3,345

3,428

2,345

2,616

2,874

2,209

3,250

3,982

3,042

2,817

3,057

3,458

3,987

-9,465

12,125

8,655

3,718

3,210

3,070

3,352

4,483

3,535

2,868

2,936

2,886

4,361

2,416

3,183

1,862

2,454

1,504

2,462

1,761

Payments for acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-607

8,466

5,179

6,261

181

1,233

-1,874

1,587

4,462

4,457

568

5,294

Proceeds from sale of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

610

103

249

249

978

986

1,002

984

Other investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-19

0

0

-11

-

-

-

-

Net Cash Provided by (Used in) Investing Activities

-3,697

-3,521

-3,536

-3,345

-3,306

-2,345

-2,616

-2,874

-2,209

-3,250

-3,982

-3,042

-2,817

-3,057

-3,458

-3,987

9,465

-12,125

-8,655

-3,718

-3,209

-3,070

-3,946

-4,483

-3,040

-11,104

-8,233

-9,148

-

-

-

-3,189

-12,021

-10,138

-3,030

-6,070

Cash flows from financing activities:
Net borrowings from revolving credit facility

-

-

18,708

-3,800

-

-

17,652

-9,023

-

30,767

4,972

6,519

-25,983

22,169

-6,805

19,358

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from lines of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,488

7,395

5,579

-

14,500

4,000

16,000

-

13,200

7,800

5,500

-9,000

1,000

1,600

11,400

6,800

-700

6,000

500

Net short-term secured repayments

-

-

-2,089

1,256

-

-

1,408

-1,986

-

596

838

-801

1,225

-924

1,907

-1,803

-1,005

-550

668

88

-99

521

2,195

0

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock

0

0

0

0

0

0

17,641

8,048

844

0

5,699

4,342

0

0

0

0

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from exercise of stock awards

-

-

-

-

-

-

-

-

-

-

-

-

4,710

-206

-856

382

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance costs

0

4,553

350

585

0

545

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock Repurchased During Period, Value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,400

-3,499

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

6,864

3,619

525

-2,614

8,009

2,176

437

0

1,053

4,102

612

1,808

825

943

3,720

2,162

648

1,138

3,228

-

-

-

-

Principal payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9

10

7

Proceeds from exercise of stock options

0

0

0

63

129

132

277

7

839

505

1,130

189

634

912

106

984

-92

650

598

38

370

305

58

43

65

97

995

846

1,500

2,787

616

555

113

15

198

26

Excess tax benefit from exercise of stock awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

951

-

905

3,283

4,163

-

-

-

-

Other financing activities, net

-3

-86

-127

-29

-315

-51

-628

-67

-306

-731

-24

-95

-25,082

15,087

-9,267

18,396

109

-425

-178

-98

-857

732

-273

0

-136

-237

0

-36

0

0

-2

-4

-

-

-

-

Net cash provided by (used in) financing activities

-22,162

18,092

16,142

-3,095

-10,457

14,770

1,068

-19,117

-23,360

21,575

-210

1,470

-

-

-

-

-31,722

10,255

1,410

1,670

564

14,382

1,878

15,431

-25,555

9,400

7,967

3,540

-

-

-

12,886

5,072

-316

6,477

519

Effect of exchange rate changes on cash and cash equivalents

-

-

-255

29

-

-

-1,991

594

-

210

278

448

-557

-65

-316

331

610

-813

-753

-848

-453

-672

89

-22

70

211

68

-159

43

-209

-345

221

-216

-90

-183

127

Increase (Decrease) in cash and cash equivalents

-

-

8,148

-919

-

-

-15,208

12,912

-

4,145

-6,383

-1,004

10,137

-10,819

10,677

-9,826

34,301

-9,940

-7,012

-9,171

424

-1,210

2,240

2,517

-618

5,060

3,555

-6,609

8,062

-2,814

-3,694

2,446

3,642

1,601

1,088

1,627