MITEK SYSTEMS, INC. MITK Cash Flow

Mitek systems, inc. (MITK)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	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	Dec'10
Operating activities:
Net income (loss)
908	560	3,282	-99	-716	-3,191	-2,127	-2,784	-1,160	-5,736	12,866	616	1,217	-607	960	739	582	-322	955	917	507	146	1	-1,632	-2,193	-1,468	-1,470	-2,052	-2,393	-1,359	-3,010	-2,008	-2,847	26	-219	325	569	-800
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation expense
2,308	2,303	2,346	2,268	2,353	2,670	3,023	1,980	2,058	1,889	1,533	1,637	1,223	1,085	971	947	1,172	989	872	810	870	814	776	922	916	829	746	685	703	656	615	830	651	501	379	361	295	234
Amortization of closing shares and earnout shares
-	-	-	-	-	-	0	0	0	355	347	480	376	376	375	349	392	387	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
1,600	1,600	1,724	1,800	1,700	1,800	1,823	1,100	600	500	157	147	143	144	149	151	149	149	148	24	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
343	406	353	369	305	373	284	116	109	91	33	51	46	170	461	111	109	109	111	107	107	107	-	118	120	116	-	92	68	48	46	62	63	59	49	47	42	40
Amortization of investment premiums and other
1	38	61	45	19	9	-9	-3	-20	46	1	-15	-7	-9	-18	-17	-70	-44	-121	-71	-144	-98	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred taxes
408	66	1,457	-2,736	-865	-1,631	95	-876	0	4,417	-11,065	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion and amortization on debt securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	94	-	55	1	97	-	-	-	-	-	-	-	-
Provision for bad debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	-0	10	-	1	-5	1	-	-	-	-	-4	-5	1	4	-	-	-	-
Provision for bad debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2	1	2	-	-	-	-	-	-	-	-
Non-cash interest expense on convertible debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	384
Amortization of capitalized debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	53
Changes in assets and liabilities:
Accounts receivable
939	-2,179	604	2,657	-900	-3,925	5,406	1,216	2,116	-3,065	665	1,255	-450	631	330	2,111	-1,740	301	133	396	-535	572	433	-594	252	1,363	918	-219	-831	524	1,628	1,734	-1,612	113	-3,606	76	1,369	410
Contract assets
1,811	1,759	-	-	256	92	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-468	226	0	624	-496	641	-162	-113	402	1,549	-111	187	39	-364	-1	345	297	-55	89	255	325	-136	-81	215	46	-92	41	-92	262	2	-399	-65	303	-19	-349	-8	177	-2
Accounts payable
-1,312	677	0	463	-1,378	943	-287	963	-674	307	86	-3	461	49	209	-500	-5	74	-800	844	-137	-355	197	-90	144	-335	-460	560	620	443	-567	518	218	183	-159	2	254	32
Accrued payroll and related taxes
1,046	-1,895	466	510	-696	-1,809	1,807	680	1,455	-1,389	337	967	797	-1,672	820	488	715	-826	599	120	135	-374	-151	138	85	-93	216	316	51	144	11	206	-136	148	56	92	15	134
Deferred revenue
1,196	2,427	-	-	3,455	-205	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	409	1,482	-326	-	299	845	-755	-329	2	-467	727	-193	-62	-217	950	-825	326	149	641	160	249	-2	807	-37	122	314	359	-154	-536	384	347
Restructuring accrual
-285	-923	-1,509	3,082	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-729	-195	811	145	-1,018	189	16	81	-167	1,005	151	52	75	239	-615	254	11	-67	637	-569	-13	-38	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
3,179	5,190	6,362	1,268	4,324	2,296	1,254	565	1,240	2,567	3,254	2,819	5,601	-1,229	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-14	796	-753	-1,867	-318	1,160	-10	222	104	0
Other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-45	-6	-57	-	621	368	485	-6	-0	-17	-29	-38	-34	88	-17
Net cash provided by (used in) operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,018	-	1,660	1,608	921	-161	223	-987	-1,543	-	-	-	-	-	-	-	-	-	-	-	-
Investing activities:
Purchases of investments
8,981	10,132	10,235	8,934	3,513	1,728	0	-21	21	15,391	11,783	15,839	6,987	5,330	4,712	14,474	8,660	5,812	5,449	3,836	15,142	2,826	3,951	3,040	3,580	14,071	-0	2,641	1,108	308	4,013	15	7,939	219	-	-	-	-
Sales and maturities of investments
8,550	3,150	4,136	2,950	6,930	950	949	10,704	19,415	9,950	11,350	9,150	8,350	3,800	6,074	4,950	13,204	6,395	3,450	4,520	6,504	6,931	2,733	4,060	2,395	2,478	750	1,405	1,250	2,685	-	-	-	-	-	-	-	-
Payments for business acquisitions, net of cash acquired
-	-	-	-	-	-	0	26,753	0	2,991	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment
217	205	88	281	186	508	1,131	1,434	1,526	216	128	106	209	45	110	29	37	74	21	29	9	13	2	18	97	16	219	529	433	315	126	126	43	43	98	15	87	3
Net cash provided by (used in) investing activities
-648	-7,187	-6,187	-6,265	3,231	-1,286	-182	-17,462	17,868	-8,648	-561	-6,795	1,154	-1,575	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-291	2,061	1,160	1,758	-548	-262	-8,301	-2,427	-87	-3
Net cash provided by (used in) investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	509	-	-4,778	-8,646	4,090	-1,219	1,001	-1,283	-11,608	-	-	-	-	-	-	-	-	-	-	-	-
Financing activities:
Proceeds from the issuance of common stock, net of issuance costs of $0, $0 and $1,245,196, respectively
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0	13,845	0	750
Proceeds from the issuance of equity plan common stock
1,178	73	669	2,265	2,061	586	630	329	29	137	306	351	11	19	156	1,286	197	116	121	116	-0	9	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on other borrowings
18	78	46	0	86	164	21	0	249	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	19	39	-	5	708	37	106	84	380	161	48	79	40	89
Principal payments on capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	5	6	5	6	4	6	4	5	5	4	4	4	4	4	4	4	3	3	3	3	-	-	-	-
Net cash provided by (used in) financing activities
-320	-5	751	2,264	946	422	-675	329	-220	137	306	351	11	19	-	-	-	-	-	-	-	-	-	-	-	-	-	-	704	33	102	80	377	157	-56	13,925	145	839
Foreign currency effect on cash and cash equivalents
-76	47	-270	80	-193	-23	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in cash and cash equivalents
2,135	-1,955	656	-2,653	8,308	1,409	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency effect on cash and cash equivalents
-	-	-	-	-	-	-	-	9	-4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	110	-	110	-5	4	6	-4	14	34	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency effect on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-10	-	-46	2	-36	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in cash and cash equivalents
-	-	-	-	-	-	-	-	18,897	-5,948	-	-3,660	6,744	-2,795	4,001	-8,217	8,872	1,601	22	-3,009	-7,044	5,017	-1,374	1,220	-2,256	-13,117	348	12,954	398	2,890	509	-28	-489	1,055	-8,368	11,719	162	836
Supplemental disclosures of cash flow information:
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	1	1	1	0	1	1	1	1	1	1	1	1	2	2	2	4	0	3	2	2	0	0
Cash paid for income taxes
0	0	0	14	227	69	274	43	76	9	8	69	0	36	-67	10	64	10	102	1	-0	2	-0	0	1	0	-	-	-	-	0	0	0	0	0	0	0	1
Supplemental disclosures of non-cash investing and financing activities:
Unrealized holding gain on available for sale investments
56	2	3	7	6	13	18	43	-12	-59	4	-5	3	-21	-26	26	27	-20	11	0	-3	-2	-10	-4	6	-0	5	-5	-1	4	0	-1	5	4	-	-	-	-
Cashless exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	0	0	0	0	0	0	0	0
Cashless settlement of restricted stock units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	95	-	-	-	-
Conversion of debt to common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,063