K2m group holdings, inc. (KTWO)
CashFlow / Quarterly
Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Operating activities
Net loss

-15,813

-10,794

-11,398

-8,748

-8,465

-9,059

-10,873

-12,467

-7,910

-11,098

-10,185

-8,494

-10,215

-6,222

-14,285

-11,067

-16,140

-17,683

-14,747

-11,972

-6,178

-8,884

-10,879

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

5,893

5,812

5,546

5,361

6,810

7,419

7,195

7,760

7,415

7,294

6,743

6,544

6,126

6,234

6,036

5,985

7,735

9,899

9,705

9,528

9,319

9,034

8,895

Provision for inventory reserves

1,648

903

1,305

1,184

995

1,046

1,146

2,755

941

863

1,013

552

253

-364

1,239

-785

320

327

721

1,251

-542

855

721

Provision for allowance for doubtful accounts

-

-

-

-

-

-

-

86

11

28

-57

142

-81

217

41

118

52

162

137

96

-130

106

95

Stock-based compensation expense

1,713

1,688

1,451

1,610

1,442

1,339

1,541

1,575

1,526

1,749

2,106

2,325

4,954

2,008

1,901

1,977

2,072

1,383

375

1,142

576

670

491

Accretion of discounts and amortization of issuance costs of Convertible Notes

1,251

687

632

-

639

539

570

-

558

0

0

-

-

-

-

0

0

4,861

67

37

31

21

9

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21

-

-

-

0

-927

-2,001

-2,618

-2,946

Changes in operating assets and liabilities:
Accounts receivable

-878

9,428

320

5,278

-5,368

3,362

-438

4,089

-2,441

4,871

2,862

-2,647

522

5,862

1,345

2,577

-1,625

1,400

508

1,760

-146

3,629

582

Inventory

8,641

1,492

6,859

-2,545

5,987

2,260

1,263

-3,027

-788

5,115

2,139

1,927

5,906

-603

1,536

-3,530

3,347

7,768

6,075

4,163

3,310

5,954

2,270

Prepaid expenses and other assets

7

-1,035

-877

1,541

2,617

1,551

4,032

2,620

1,840

3,091

2,705

4,476

1,173

1,344

2,745

3,978

1,890

-1,723

4,305

1,146

45

95

-2

Accounts payable, accrued expenses, and accrued payroll liabilities

6,206

5,726

227

1,658

1,163

2,498

431

4,617

-2,828

9,621

-3,351

-2,430

5,706

-566

3,655

5,377

205

-1,477

5,447

810

-4,390

8,999

2,497

Net cash used in operating activities

-6,854

-9,265

-8,539

-4,105

-523

-3,338

-4,847

1,690

1,069

-4,620

-11,437

-5,117

-858

-5,317

-7,018

-1,638

-9,368

-9,973

-9,183

-7,104

-6,524

-1,495

-3,967

Investing activities
Purchases of surgical instruments

3,580

5,284

4,479

3,867

757

3,285

3,157

1,289

3,174

4,473

3,339

4,310

2,220

2,945

1,430

3,737

1,773

5,280

2,058

434

1,165

5,380

1,344

Purchases of property, plant and equipment

920

760

840

678

671

1,018

1,553

1,101

2,063

8,134

6,141

363

733

1,042

649

1,398

420

429

658

741

569

88

96

Changes in cash restricted for leasehold improvements

-

0

0

-

-

0

61

-

1,704

1,116

3,333

-

0

0

0

-

-

-

-

-

-

-

-

Purchase of intangible assets

-42

25

17

1,908

1,000

27

23

25

0

0

1,282

50

150

371

17

98

1

1

18

-49

149

0

17

Net cash used in investing activities

-4,458

-6,069

-5,336

-6,392

-2,489

-4,330

-4,672

-1,960

-3,533

-11,491

-7,429

-4,723

-3,103

-4,358

-2,096

-11,900

-2,194

-5,710

-2,734

-1,126

-1,883

-5,468

-1,457

Financing activities
Borrowings on bank line of credit

0

11,000

7,000

0

0

0

0

0

0

14,500

5,000

0

0

25,000

0

-

-

-

-

2,000

0

0

1,500

Proceeds from issuances of common stock, net of issuance costs

-

-

-

-

-

-

-

-

-

-

-

-192

18,474

-528

36,455

0

-1,558

121,517

1,939

-1,445

0

1,445

0

Payments under capital lease

287

283

259

254

250

246

223

219

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of convertible senior notes, net of issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

11,574

Proceeds from issuances of notes to stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

14,634

5,018

0

9,866

0

Issuances and exercise of stock-based compensation plans, net of income tax

1,860

181

139

-

459

5,578

2,744

-

386

511

365

-

514

29

382

-

-

-

-

-

-

-

-

Payment of public offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Issuances and exercise of stock-based compensation benefit plans, net of income tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-196

-467

942

-

256

90

339

Net cash provided by financing activities

1,025

64,898

6,880

362

209

5,332

2,521

296

28,461

15,011

5,365

900

18,988

-499

36,837

1,842

-1,362

40,725

15,631

5,680

1,744

9,221

12,735

Effect of exchange rate changes on cash and cash equivalents

-312

-526

223

158

198

302

67

-632

284

-241

32

-90

-138

-59

-114

-78

-116

37

13

41

43

4

-36

Net change in cash and cash equivalents

-10,599

49,038

-6,772

-9,977

-2,605

-2,034

-6,931

-606

26,281

-1,341

-13,469

-9,030

14,889

-10,233

27,609

-11,774

-13,040

25,079

3,727

-2,509

-6,620

2,262

7,275

Significant non-cash investing activities
Leasehold improvements, including property under capital lease

-

-

-

-

-

-

-

-427

-2,005

-5,959

8,562

6,884

0

0

0

-

-

-

-

-

-

-

-

Additions to property, plant and equipment

-150

0

150

0

-250

-250

750

0

0

-1,234

1,234

-

-

-

0

-

-

-

-

-

-

-

-

Reductions to property, plant and equipment from earned grant incentives

0

-790

395

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of discount on convertible senior notes

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Adjustment of preferred stock to fair value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,077

-4,077

0

14,035

Convertible senior notes due 2025 issuance costs

-

-

-

-

-

-

-

-

-

-

-

-192

-249

-514

1,007

-720

-1,578

7

2,291

-

0

0

0

Cash paid for:
Income taxes

30

159

1

36

1

67

64

-18

2

66

109

33

60

-19

52

96

2

34

0

-

-

-

-

Interest

1,101

154

1,087

41

1,066

34

1,090

43

168

-452

623

337

23

44

24

4,954

20

1,461

255

1,188

538

429

250