Medidata Solutions, Inc. MDSO Cash Flow

Medidata solutions, inc. (MDSO)

CashFlow / TTM

Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net income
44,045	52,741	51,921	54,614	56,969	47,921	47,576	40,430	34,745	33,414	28,009	24,959	22,282	17,585	13,167	11,801	7,281	8,064	6,092	1,224	6,336	9,146	16,661	22,672	21,452	19,950	18,020	30,160	33,589	39,982	39,398	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets and depreciation
41,002	37,761	35,045	32,471	30,206	27,390	24,053	21,366	18,431	16,608	15,349	13,782	12,615	11,486	10,822	10,592	10,481	10,453	10,435	9,832	8,756	7,620	6,936	6,825	7,230	7,791	7,934	7,912	7,883	7,789	7,817	0	0	0
Stock-based compensation
74,423	67,647	61,138	58,261	53,074	50,647	47,813	45,025	43,474	41,229	41,158	42,234	43,878	47,567	48,987	47,427	45,430	39,924	37,953	45,132	42,143	40,637	36,143	22,196	17,931	13,965	10,914	10,510	10,096	9,234	8,820	0	0	0
Amortization of operating lease assets
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of capitalized contract costs
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of discounts or premiums on marketable securities
-135	-21	-130	-386	-731	-1,172	-1,438	-1,620	-1,814	-2,187	-2,757	-3,355	-3,952	-4,428	-4,754	-5,131	-5,399	-5,489	-5,611	-5,460	-4,788	-4,002	-3,075	-2,303	-1,973	-1,760	-1,573	-1,378	-1,308	-1,362	-1,290	0	0	0
Realized loss on available-for-sale securities
-402	-402	-375	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-10,406	-5,814	-4,337	-5,622	-1,392	127	908	7,613	8,916	5,758	5,346	1,794	1,473	-2,705	-3,209	-3,599	-13,565	-8,539	-10,865	-12,271	-7,845	-3,177	-816	584	3,678	3,569	3,123	-16,087	-18,237	-21,435	-21,693	0	0	0
Amortization of Debt Issuance Costs
540	861	1,179	1,404	1,508	1,399	1,291	1,277	1,278	1,278	1,278	1,279	1,278	1,278	1,278	1,277	1,277	1,277	1,277	1,277	1,186	881	577	273	60	60	60	60	60	60	60	0	0	0
Amortization of debt discount
1,646	5,180	8,661	12,090	13,823	13,617	13,415	13,217	13,019	12,826	12,636	12,448	12,264	12,082	11,902	11,725	11,520	11,349	11,181	11,014	9,705	6,923	4,182	0	0	0	-	-	-	-	-	-	-	-
Excess tax benefit associated with equity awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	7,887	6,182	3,992	4,531	7,084	3,975	3,001	3,655	0	0	0	-	-	-	-
Contingent consideration adjustment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	239	222	279	299	319	0	0	0	-	-	-	-
Provision for doubtful accounts
1,705	1,645	1,587	1,452	1,326	782	1,089	1,059	1,134	1,425	1,116	921	555	668	597	746	932	848	648	441	266	100	657	635	858	771	165	0	0	0	-	-	-	-
Loss on fixed asset disposal
-464	-430	-425	-479	-201	-170	-72	20	3	3	-3	-15	-4	-4	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in fair value of contingent consideration
-98	-98	-331	-104	268	247	319	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable
62,702	46,045	61,646	58,671	27,262	31,143	-4,043	-16,292	13,385	17,762	25,172	34,643	8,348	13,235	34,513	46,338	46,115	21,642	30,549	16,886	20,353	20,052	-1,249	8,540	2,151	14,496	16,056	8,839	5,073	-1,591	-11,986	0	0	0
Prepaid commission expense
25,713	24,505	23,070	15,180	23,311	21,002	12,129	13,566	11,088	7,513	8,505	3,031	2,369	2,253	-439	-884	-564	-1,797	-1,344	-1,022	-952	117	535	1,308	2,011	2,022	1,426	752	-174	-576	-874	0	0	0
Prepaid expenses and other current assets
33	-3,463	-5,625	-6,836	6,106	9,351	15,464	11,607	12,573	5,137	-2,833	5,537	2,715	5,434	9,058	4,730	4,932	4,521	611	-1,465	-1,964	-2,900	-2,099	530	-1,270	1,772	2,553	1,131	1,202	-1,466	-1,725	0	0	0
Other assets
457	-3,030	-2,996	1,092	850	2,857	1,270	2,696	3,981	4,433	8,735	4,542	2,365	1,551	-2,715	-3,503	-4,320	-4,449	-2,910	543	3,532	3,487	3,697	1,780	44	1,312	1,372	1,521	1,403	192	505	0	0	0
Accounts payable
2,906	2,235	3,474	4,292	-5,751	-544	-3,014	912	9,247	4,252	2,825	-1,150	-1,732	-4,554	-502	-1,362	-1,868	2,982	1,310	60	2,919	2,184	-457	743	-485	-943	-823	490	966	-621	885	0	0	0
Accrued payroll and other compensation
7,597	8,391	18,854	6,435	3,302	3,935	2,089	3,325	1,523	1,838	7,343	3,501	1,516	5	6,014	5,478	4,820	2,707	-2,510	-1,520	-1,182	997	3,614	3,829	2,656	1,691	4,286	2,221	1,941	1,220	-1,678	0	0	0
Accrued expenses and other
9,613	14,500	6,054	4,606	-326	3,370	1,751	7,234	11,818	11,585	14,220	9,593	3,988	1,222	712	894	5,105	4,999	6,103	9,648	11,982	7,042	7,728	6,771	2,753	1,637	2,226	4,657	3,631	5,884	4,243	0	0	0
Deferred revenue
6,658	-21,065	-7,334	-4,830	-14,214	12,729	6,556	672	6,214	4,355	4,222	16,436	10,738	15,376	28,617	27,933	42,916	25,141	19,419	9,149	2,263	5,475	-5,465	-7,105	-20,181	-16,699	-11,471	-6,597	-5,012	-17,667	-21,908	0	0	0
Operating lease liabilities
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term liabilities
2,107	-3,679	-3,922	-3,135	781	709	1,210	-336	-4,216	-4,457	-7,914	-2,607	2,169	3,349	5,872	6,215	5,872	5,960	7,694	3,687	3,817	2,912	1,697	3,623	2,797	2,346	1,981	-232	-206	-38	-24	0	0	0
Net cash provided by (used in) operating activities
95,808	90,284	89,176	87,419	84,820	104,237	121,746	131,977	106,425	97,450	88,769	78,807	102,895	85,533	88,594	85,322	78,376	90,596	67,445	60,365	58,343	60,414	69,597	46,051	34,090	13,594	13,245	19,114	25,340	25,456	28,668	0	0	0
Cash flows from investing activities:
Purchases of furniture, fixtures and equipment
52,929	47,124	40,083	43,048	47,499	48,978	44,621	40,286	28,873	24,857	25,656	23,872	26,517	23,155	19,017	12,932	10,138	12,218	15,815	25,541	35,346	34,606	30,505	20,683	9,258	6,868	5,742	5,438	5,778	5,737	4,411	0	0	0
Purchase of domain name
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of available-for-sale securities
0	11,240	69,214	148,564	215,627	279,630	303,641	275,982	279,453	319,531	266,361	271,657	267,393	243,204	264,113	248,905	269,041	244,679	241,204	406,787	481,509	465,578	446,745	263,945	151,252	116,296	109,320	107,938	83,148	115,629	117,098	0	0	0
Proceeds from sale of available-for-sale securities
291,347	334,581	360,271	437,510	280,966	281,073	297,297	268,191	271,129	282,870	271,796	279,431	274,575	243,942	246,423	230,731	217,234	222,919	231,816	220,061	195,412	170,170	119,470	111,513	102,635	80,643	80,370	97,054	99,043	115,949	122,759	0	0	0
Acquisition of business, net of cash acquired
-	-	-	-	-	-	22,941	22,941	22,985	25,888	17,186	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease (increase) in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,956	3,749	-388	-388	0	0	0	0	-	-	-	-
Net cash provided by (used in) investing activities
237,489	96,720	72,077	62,711	-164,852	-65,898	-78,030	-71,018	-64,182	-91,406	-41,407	-36,820	-36,013	-22,417	-36,707	-37,037	-67,876	-39,219	-30,444	-213,248	-326,561	-335,358	-362,736	-176,864	-57,487	-42,133	-34,692	-16,322	4,951	-10,439	-3,772	0	0	0
Cash flows from financing activities:
Proceeds from exercise of stock options
12,024	14,438	14,463	12,701	7,501	9,976	10,207	10,901	12,861	7,898	5,495	5,185	3,178	3,178	6,686	7,113	7,642	6,951	4,328	5,599	6,187	9,876	10,452	10,191	10,842	8,767	9,328	8,248	6,535	4,867	3,475	0	0	0
Proceeds from employee stock purchase plan
14,056	12,793	12,506	12,086	11,475	10,409	9,378	8,473	7,727	7,135	6,864	6,524	6,434	6,309	6,009	6,070	5,863	5,608	5,416	4,021	2,513	1,327	0	0	0	0	-	-	-	-	-	-	-	-
Repayments of short-term notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	85	286	296	252	249	161	151	151	113	0	0	0	-	-	-	-
Acquisition of treasury stock
42,478	30,143	20,141	21,715	21,971	21,496	18,499	17,426	16,558	18,356	15,570	51,104	51,225	55,485	53,582	17,065	16,689	17,732	28,593	28,523	28,425	30,491	10,828	10,747	10,772	3,515	3,439	0	0	0	-	-	-	-
Term loan principal payments
6,250	6,250	5,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of acquisition-related earn-out
1,718	4,782	4,572	4,417	4,087	87	0	0	0	0	-	-	-	-	-	-	-	-	704	704	704	704	380	380	380	380	251	0	0	0	-	-	-	-
Excess tax benefit associated with equity awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	7,887	6,182	3,992	4,531	7,084	3,975	3,001	3,655	0	0	0	-	-	-	-
Repayment of obligations under capital leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	46	36	32	33	54	78	87	91	75	204	210	226	268	225	339	499	725	0	0	0
Payments of credit facility financing costs
0	0	175	2,172	2,172	2,172	1,997	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-311,866	-301,444	-290,419	-194,767	89,496	96,630	99,089	1,948	4,030	-3,423	-3,311	-39,545	-45,516	-46,312	-40,995	-11,692	-2,152	-5,106	-19,692	-12,084	264,726	263,013	282,807	285,139	3,304	7,496	8,912	8,544	6,661	6,874	4,293	0	0	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-925	-1,404	-1,032	-285	136	1,206	759	48	-227	-267	-244	255	324	184	-56	-68	-174	-205	-120	-24	124	46	-23	-85	-70	-53	4	19	-12	-23	0	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash
20,506	-115,844	-130,198	-44,922	9,600	136,175	143,564	62,955	46,046	2,354	43,807	2,697	21,690	16,988	10,836	36,525	8,174	46,066	17,189	-164,991	-3,368	-11,885	-10,355	154,267	-20,165	-21,090	-12,531	11,336	36,952	21,891	29,189	0	0	0
Supplemental disclosures of cash flow information:
Interest paid
5,772	5,831	7,041	5,952	4,701	3,641	2,879	2,879	2,878	2,882	2,882	2,884	2,885	2,878	2,878	2,886	2,876	2,876	2,788	2,783	1,362	1,363	27	33	36	46	44	46	40	45	53	0	0	0
Proceeds from income tax refunds
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes paid
-	-	3,878	3,957	3,793	4,876	4,417	4,451	4,106	1,920	2,074	2,208	1,853	1,802	1,289	610	470	470	485	496	694	760	1,382	1,467	1,460	2,553	2,575	2,632	2,684	2,021	1,692	0	0	0
Noncash activities:
Furniture, fixtures and equipment acquired through capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	0	0	0	-	-	-	-
Furniture, fixtures, and equipment acquired but not yet paid for at period-end
6,558	6,884	3,984	2,946	2,739	5,514	4,356	5,782	4,726	2,944	1,152	3,867	2,131	4,714	4,716	2,762	3,016	-1,160	883	8,662	8,505	10,954	8,467	1,435	3,170	2,141	1,769	1,606	855	145	878	0	0	0
Contingent consideration associated with acquisition of business, at fair value
-	-	-	-	-	-	5,697	5,697	5,697	5,697	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of notes payable in connection with acquisition-related earn-out payments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	97	97	97	97	341	341	341	341	171	0	0	0	-	-	-	-