| Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||||
Net loss | ||||||||||
-19,260 | -11,615 | -39,187 | -59,926 | -104,815 | 30,390 | 41,104 | 48,296 | 8,512 | 12,013 | 5,719 |
Less: Discontinued operations, net of tax | ||||||||||
- | - | - | - | - | - | - | - | -12,167 | -3,061 | -2,687 |
Income from continuing operations | ||||||||||
- | - | - | - | - | - | - | - | 20,679 | 15,074 | 8,406 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
5,091 | 4,599 | 5,796 | 6,502 | 9,235 | 16,595 | 17,374 | 14,166 | 5,694 | 4,422 | 3,475 |
Stock compensation expense | ||||||||||
6,508 | 6,597 | 7,377 | 12,247 | 12,405 | 12,605 | 13,379 | 12,117 | 9,136 | 7,891 | 6,465 |
Inventory adjustment to net realizable value | ||||||||||
331 | 2,494 | 10,381 | 2,676 | -575 | 271 | -1,122 | 884 | -22 | 512 | - |
Provision for doubtful accounts | ||||||||||
178 | 199 | 357 | 247 | 1,109 | 151 | -357 | 117 | 221 | -62 | -147 |
Deferred tax provision | ||||||||||
136 | -10,945 | -620 | 26,177 | -6,282 | 828 | -6,852 | -1,719 | 66 | -893 | -1,707 |
Impairment of goodwill and long-lived assets | ||||||||||
0 | 0 | 1,963 | 18,998 | 147,414 | - | - | - | - | - | - |
Change in fair value of financial instruments | ||||||||||
0 | -90 | 573 | 0 | 0 | - | - | - | - | - | - |
Incremental tax loss from exercise of common stock options and restricted stock | ||||||||||
0 | 0 | 1,198 | 229 | 38 | -3,805 | -8,588 | - | - | - | - |
Gain on disposal of property and equipment | ||||||||||
15 | 480 | 0 | 0 | - | - | - | - | - | - | - |
Business disposition loss | ||||||||||
- | - | - | - | -7,963 | - | - | - | - | - | - |
Gain on early extinguishment of debt | ||||||||||
- | - | - | - | - | - | 1,000 | - | - | - | - |
Change in fair value of earnout liability | ||||||||||
3,500 | 100 | -954 | 0 | 0 | -18,390 | 5,437 | -664 | - | - | - |
Incremental tax loss (benefit) from exercise of common stock options | ||||||||||
- | - | - | - | - | - | - | 16,953 | 6,597 | 747 | - |
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
2,012 | -6,582 | 1,611 | 4,408 | -12,651 | -2,211 | 7,466 | 1,596 | 1,809 | -162 | -109 |
Inventory | ||||||||||
-3,948 | -8,120 | 3,507 | 4,776 | -43,101 | 49,488 | 7,470 | 132 | 392 | 2,624 | 808 |
Prepaid and deferred taxes | ||||||||||
811 | -739 | -730 | -27,057 | 38,545 | 2,829 | -14,243 | -17,432 | - | - | - |
Prepaid expenses and other assets | ||||||||||
-1,554 | 689 | 1,024 | 160 | 1,499 | -2,735 | 26 | -458 | -7,815 | -234 | -659 |
Accounts payable | ||||||||||
1,191 | 670 | 3,192 | 232 | -4,534 | -545 | 6,542 | -7,570 | 1,552 | 1,816 | -1,953 |
Accrued expenses and other current liabilities | ||||||||||
1,999 | -9,576 | -14,882 | 17,151 | -18,895 | 9,659 | -2,341 | -8,534 | -691 | 6,137 | 4,695 |
Distributions payable | ||||||||||
-453 | -953 | 1,359 | -790 | -2,228 | 425 | 274 | -3,226 | 1,671 | 1,058 | -5,716 |
Deferred revenue | ||||||||||
906 | 743 | 0 | 0 | - | - | - | - | - | - | - |
Payables to sellers | ||||||||||
-8,716 | 4,586 | -4,519 | -901 | -11,742 | - | - | - | - | - | - |
Customer payables | ||||||||||
- | - | - | - | - | 12,046 | -4,768 | 2,510 | 2,945 | -124 | -2,171 |
Acquisition earn out payable | ||||||||||
- | - | - | - | - | - | -11,422 | -3,162 | -358 | -2,805 | - |
Other liabilities | ||||||||||
-317 | -642 | 2,871 | 5,283 | -1,310 | -1,003 | -198 | 205 | -1 | -1,895 | 402 |
Net cash used by operating activities from discontinued operations | ||||||||||
- | - | - | - | - | - | - | -483 | -739 | -1,833 | -3,074 |
Net cash used in operating activities | ||||||||||
-6,242 | 619 | -31,653 | 45,838 | 43,491 | - | - | 52,146 | 39,886 | 31,933 | 8,635 |
Net cash provided by operating activities | ||||||||||
- | - | - | - | - | 11,856 | 46,743 | 52,629 | 40,625 | 33,766 | 11,709 |
Investing activities | ||||||||||
Cash paid in divestiture | ||||||||||
- | - | - | - | 2,372 | - | - | - | - | - | - |
Increase in intangibles | ||||||||||
23 | 35 | 119 | 62 | 137 | - | - | - | - | - | - |
Purchases of property and equipment, including capitalized software | ||||||||||
5,938 | 4,174 | 7,805 | 6,090 | 7,312 | 7,539 | 5,463 | 6,793 | 4,822 | 3,624 | 3,296 |
Proceeds from sales of property and equipment | ||||||||||
247 | 828 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from promissory note | ||||||||||
0 | 3,000 | 0 | 0 | - | - | - | - | - | - | - |
Purchases of short-term investments | ||||||||||
70,000 | 20,000 | 0 | 0 | - | - | - | - | 10,292 | 61,024 | 35,113 |
Maturities of short-term investments | ||||||||||
60,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from the sale of short-term investments | ||||||||||
- | - | - | - | - | - | - | - | 43,812 | 58,123 | 15,737 |
Cash paid for acquisitions and increase in intangibles | ||||||||||
- | - | - | - | - | 141 | 14,730 | 71,796 | 9,092 | 4,102 | 886 |
Cash paid for business acquisition, net of cash acquired | ||||||||||
0 | 16,673 | 0 | 0 | - | - | - | - | - | - | - |
Investment activities from discontinued operations | ||||||||||
- | - | - | - | - | - | - | - | - | -92 | -453 |
Net cash (used in) provided by investing activities | ||||||||||
-15,714 | -37,054 | -7,924 | -6,152 | -9,821 | -7,680 | -20,193 | -78,589 | 19,606 | -10,719 | -24,011 |
Financing activities | ||||||||||
Taxes paid associated with net settlement of stock compensation awards | ||||||||||
44 | 0 | 0 | - | - | - | - | - | - | - | - |
Short-term borrowings, net | ||||||||||
0 | 0 | 0 | - | - | - | - | - | - | - | - |
Principal repayments of debt | ||||||||||
- | - | - | - | - | - | 39,000 | - | - | - | - |
Principal repayments of capital lease obligations and debt | ||||||||||
- | - | - | - | - | - | - | - | - | 138 | 27 |
Repurchases of common stock | ||||||||||
- | - | - | - | - | 44,873 | - | 29,999 | 3,541 | 14,470 | 3,874 |
Proceeds from exercise of stock options | ||||||||||
590 | 404 | 92 | 9 | 106 | 4,146 | 2,532 | 15,491 | 23,639 | 3,238 | 1,081 |
Incremental tax loss from exercise of common stock options and restricted stock | ||||||||||
0 | 0 | -1,198 | -229 | -38 | 3,805 | 8,588 | 16,953 | 6,597 | 747 | 121 |
Net cash (used in) provided by financing activities | ||||||||||
546 | 404 | -1,106 | -220 | 68 | - | - | - | 26,695 | -10,623 | -2,699 |
Effect of exchange rate differences on cash and cash equivalents | ||||||||||
-541 | 131 | 518 | - | - | - | - | - | - | - | - |
Payment of acquisition contingent liabilities | ||||||||||
- | - | - | - | - | - | 8,185 | - | - | - | - |
Net cash (used in) provided by financing activities | ||||||||||
- | - | - | - | - | -36,922 | -36,065 | 2,445 | - | - | - |
Effect of exchange rate differences on cash and cash equivalents | ||||||||||
- | - | - | -418 | -871 | 235 | -158 | -309 | -476 | -751 | -341 |
Net decrease in cash and cash equivalents | ||||||||||
-21,951 | -35,900 | -40,165 | - | - | - | - | - | - | - | - |
Net (decrease) increase in cash and cash equivalents | ||||||||||
- | - | - | 39,048 | 32,867 | -32,511 | -9,673 | -24,307 | 85,711 | 9,840 | -18,416 |
Supplemental disclosure of cash flow information | ||||||||||
Earnout liability for acquisition activity | ||||||||||
0 | 1,200 | 0 | 0 | - | - | - | - | - | - | - |
Issuance of common stock for acquisition activity | ||||||||||
0 | 2,005 | 0 | 0 | - | - | - | - | - | - | - |
Cash paid for income taxes, net | ||||||||||
1,008 | 916 | -793 | -33,966 | 5,678 | 18,108 | - | - | - | - | - |
Property and equipment acquired through capital leases | ||||||||||
- | - | - | - | - | - | - | - | - | - | 100 |
Cash paid for income taxes | ||||||||||
- | - | - | - | - | - | 16,760 | 14,482 | 6,245 | 12,486 | 9,215 |
Cash paid for interest | ||||||||||
- | - | - | - | - | - | 2,034 | 117 | 62 | 64 | 44 |
Note payable issued in connection with acquisition | ||||||||||
- | - | - | - | - | - | - | 40,000 | - | - | - |
Contingent purchase price accrued | ||||||||||
- | - | - | - | - | - | 18,390 | 7,438 | 6,989 | 2,805 | - |