K2m Group Holdings (KTWO) trailing twelve month cash flow statement covering six trailing twelve month periods to September 30, 2018, as reported to the SEC.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | |||||||||||||||||||||
Net loss | |||||||||||||||||||||
-46,753 | -39,405 | -37,670 | -37,145 | -40,864 | -40,309 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net loss | -46,753 | -39,405 | -37,670 | -37,145 | -40,864 | -40,309 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||||||||||||
Depreciation and amortization | |||||||||||||||||||||
22,612 | 23,529 | 25,136 | 26,785 | 29,184 | 29,789 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization | 22,612 | 23,529 | 25,136 | 26,785 | 29,184 | 29,789 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for inventory reserves | |||||||||||||||||||||
5,040 | 4,387 | 4,530 | 4,371 | 5,942 | 5,888 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for inventory reserves | 5,040 | 4,387 | 4,530 | 4,371 | 5,942 | 5,888 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for allowance for doubtful accounts | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for allowance for doubtful accounts | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stock-based compensation expense | |||||||||||||||||||||
6,462 | 6,191 | 5,842 | 5,932 | 5,897 | 5,981 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Stock-based compensation expense | 6,462 | 6,191 | 5,842 | 5,932 | 5,897 | 5,981 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accretion of discounts and amortization of issuance costs of Convertible Notes | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accretion of discounts and amortization of issuance costs of Convertible Notes | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income taxes | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income taxes | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in operating assets and liabilities: | |||||||||||||||||||||
Accounts receivable | |||||||||||||||||||||
14,148 | 9,658 | 3,592 | 2,834 | 1,645 | 4,572 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable | 14,148 | 9,658 | 3,592 | 2,834 | 1,645 | 4,572 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Inventory | |||||||||||||||||||||
14,447 | 11,793 | 12,561 | 6,965 | 6,483 | -292 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Inventory | 14,447 | 11,793 | 12,561 | 6,965 | 6,483 | -292 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid expenses and other assets | |||||||||||||||||||||
-364 | 2,246 | 4,832 | 9,741 | 10,820 | 10,043 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid expenses and other assets | -364 | 2,246 | 4,832 | 9,741 | 10,820 | 10,043 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable, accrued expenses, and accrued payroll liabilities | |||||||||||||||||||||
13,817 | 8,774 | 5,546 | 5,750 | 8,709 | 4,718 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable, accrued expenses, and accrued payroll liabilities | 13,817 | 8,774 | 5,546 | 5,750 | 8,709 | 4,718 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in operating activities | |||||||||||||||||||||
-28,763 | -22,432 | -16,505 | -12,813 | -7,018 | -5,426 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in operating activities | -28,763 | -22,432 | -16,505 | -12,813 | -7,018 | -5,426 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Investing activities | |||||||||||||||||||||
Purchases of surgical instruments | |||||||||||||||||||||
17,210 | 14,387 | 12,388 | 11,066 | 8,488 | 10,905 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of surgical instruments | 17,210 | 14,387 | 12,388 | 11,066 | 8,488 | 10,905 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of property, plant and equipment | |||||||||||||||||||||
3,198 | 2,949 | 3,207 | 3,920 | 4,343 | 5,735 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property, plant and equipment | 3,198 | 2,949 | 3,207 | 3,920 | 4,343 | 5,735 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in cash restricted for leasehold improvements | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Changes in cash restricted for leasehold improvements | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchase of intangible assets | |||||||||||||||||||||
1,908 | 2,950 | 2,952 | 2,958 | 1,075 | 75 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchase of intangible assets | 1,908 | 2,950 | 2,952 | 2,958 | 1,075 | 75 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in investing activities | |||||||||||||||||||||
-22,255 | -20,286 | -18,547 | -17,883 | -13,451 | -14,495 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in investing activities | -22,255 | -20,286 | -18,547 | -17,883 | -13,451 | -14,495 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Financing activities | |||||||||||||||||||||
Borrowings on bank line of credit | |||||||||||||||||||||
18,000 | 18,000 | 7,000 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Borrowings on bank line of credit | 18,000 | 18,000 | 7,000 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuances of common stock, net of issuance costs | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuances of common stock, net of issuance costs | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments under capital lease | |||||||||||||||||||||
1,083 | 1,046 | 1,009 | 973 | 938 | 688 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments under capital lease | 1,083 | 1,046 | 1,009 | 973 | 938 | 688 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of convertible senior notes, net of issuance costs | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of convertible senior notes, net of issuance costs | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuances of notes to stockholders | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuances of notes to stockholders | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Issuances and exercise of stock-based compensation plans, net of income tax | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Issuances and exercise of stock-based compensation plans, net of income tax | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payment of public offering costs | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payment of public offering costs | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Issuances and exercise of stock-based compensation benefit plans, net of income tax | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Issuances and exercise of stock-based compensation benefit plans, net of income tax | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by financing activities | |||||||||||||||||||||
73,165 | 72,349 | 12,783 | 8,424 | 8,358 | 36,610 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by financing activities | 73,165 | 72,349 | 12,783 | 8,424 | 8,358 | 36,610 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Effect of exchange rate changes on cash and cash equivalents | |||||||||||||||||||||
-457 | 53 | 881 | 725 | -65 | 21 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Effect of exchange rate changes on cash and cash equivalents | -457 | 53 | 881 | 725 | -65 | 21 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in cash and cash equivalents | |||||||||||||||||||||
21,690 | 29,684 | -21,388 | -21,547 | -12,176 | 16,710 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in cash and cash equivalents | 21,690 | 29,684 | -21,388 | -21,547 | -12,176 | 16,710 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Significant non-cash investing activities | |||||||||||||||||||||
Leasehold improvements, including property under capital lease | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Leasehold improvements, including property under capital lease | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Additions to property, plant and equipment | |||||||||||||||||||||
- | -100 | -350 | 250 | 250 | 500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additions to property, plant and equipment | - | -100 | -350 | 250 | 250 | 500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Reductions to property, plant and equipment from earned grant incentives | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Reductions to property, plant and equipment from earned grant incentives | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accretion of discount on convertible senior notes | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accretion of discount on convertible senior notes | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustment of preferred stock to fair value | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Adjustment of preferred stock to fair value | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Convertible senior notes due 2025 issuance costs | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Convertible senior notes due 2025 issuance costs | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash paid for: | |||||||||||||||||||||
Income taxes | |||||||||||||||||||||
226 | 197 | 105 | 168 | 114 | 115 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income taxes | 226 | 197 | 105 | 168 | 114 | 115 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest | |||||||||||||||||||||
2,383 | 2,348 | 2,228 | 2,231 | 2,233 | 1,335 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest | 2,383 | 2,348 | 2,228 | 2,231 | 2,233 | 1,335 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||