MITEK SYSTEMS, INC. MITK Cash Flow

Mitek systems, inc. (MITK)

CashFlow / TTM

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)
4,651	3,027	-724	-6,133	-8,818	-9,262	-11,807	3,186	6,586	8,963	14,092	2,186	2,309	1,674	1,959	1,954	2,132	2,057	2,526	1,572	-976	-3,677	-5,292	-6,764	-7,184	-7,384	-7,275	-8,815	-8,771	-9,225	-7,839	-5,049	-2,715	701	-125	0	0	0
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation expense
9,225	9,270	9,637	10,314	10,026	9,731	8,950	7,460	7,117	6,282	5,478	4,916	4,226	4,175	4,079	3,980	3,843	3,541	3,367	3,271	3,383	3,428	3,444	3,414	3,176	2,964	2,791	2,661	2,807	2,754	2,599	2,363	1,894	1,538	1,271	0	0	0
Amortization of closing shares and earnout shares
-	-	-	-	-	-	355	702	1,182	1,558	1,579	1,607	1,476	1,492	1,503	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
6,724	6,824	7,024	7,123	6,423	5,323	4,023	2,357	1,404	947	591	583	587	593	598	597	470	321	172	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
1,471	1,433	1,400	1,331	1,078	882	600	349	284	221	300	728	788	851	790	440	436	434	433	0	0	0	-	0	0	0	-	255	226	220	231	234	219	198	179	0	0	0
Amortization of investment premiums and other
145	163	134	64	16	-23	14	24	12	25	-30	-49	-51	-114	-149	-252	-306	-380	-435	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred taxes
-805	-2,078	-3,775	-5,137	-3,277	-2,412	3,636	-7,524	-6,648	-6,648	-11,065	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion and amortization on debt securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-
Provision for bad debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-3	0	0	0	-	-	-	-
Provision for bad debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Non-cash interest expense on convertible debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	384	0	0	0
Amortization of capitalized debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	53	0	0	0
Changes in assets and liabilities:
Accounts receivable
2,021	182	-1,564	3,238	1,797	4,813	5,673	932	971	-1,595	2,101	1,766	2,622	1,332	1,002	805	-910	294	566	866	-124	664	1,455	1,940	2,315	1,230	391	1,101	3,054	2,273	1,862	-3,371	-5,029	-2,047	-1,750	0	0	0
Contract assets
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
382	354	769	607	-130	768	1,676	1,727	2,027	1,664	-249	-139	19	277	586	676	586	614	533	362	323	43	88	211	-96	118	213	-227	-200	-158	-180	-130	-73	-199	-181	0	0	0
Accounts payable
-172	-238	28	-259	241	945	309	682	-284	851	593	716	219	-247	-222	-1,231	113	-19	-449	548	-385	-104	-84	-742	-91	384	1,163	1,057	1,015	613	353	760	245	280	130	0	0	0
Accrued payroll and related taxes
127	-1,615	-1,529	-188	-18	2,133	2,553	1,083	1,370	712	429	912	433	351	1,197	976	608	28	480	-270	-251	-301	-20	348	525	490	728	523	414	226	230	275	162	314	299	0	0	0
Deferred revenue
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	0	0	160	-	60	-237	-1,549	-67	69	5	254	478	-154	233	600	291	1,277	1,200	1,048	1,214	1,016	890	1,206	758	641	-17	53	41	0	0	0
Restructuring accrual
365	650	1,573	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
32	-257	127	-668	-732	119	935	1,070	1,041	1,283	517	-249	-47	-111	-417	835	12	-12	16	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
15,999	17,144	14,250	9,142	8,439	5,355	5,626	7,626	9,880	14,241	10,445	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,839	-2,143	-1,778	-1,036	1,053	1,476	316	0	0	0
Other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	1,469	847	461	-53	-85	-120	-14	-2	0	0	0
Net cash provided by (used in) operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,201	-	4,028	2,592	-3	-2,469	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Investing activities:
Purchases of investments
38,282	32,814	24,410	14,175	5,220	1,728	15,391	27,174	43,034	50,000	39,939	32,868	31,503	33,176	33,658	34,395	23,757	30,239	27,254	25,756	24,960	13,398	24,643	20,691	20,293	17,821	4,058	8,072	5,445	12,277	12,187	0	0	0	-	-	-	-
Sales and maturities of investments
18,786	17,166	14,966	11,779	19,533	32,018	41,018	51,419	49,865	38,800	32,650	27,374	23,174	28,028	30,623	27,999	27,569	20,869	21,406	20,689	20,229	16,119	11,667	9,683	7,028	5,883	6,090	0	0	0	-	-	-	-	-	-	-	-
Payments for business acquisitions, net of cash acquired
-	-	-	-	-	-	29,744	29,744	2,991	2,991	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment
791	760	1,063	2,106	3,259	4,599	4,307	3,304	1,976	659	488	470	393	221	250	161	161	133	73	54	43	132	135	351	862	1,198	1,497	1,404	1,001	611	339	311	200	244	204	0	0	0
Net cash provided by (used in) investing activities
-20,287	-16,408	-10,507	-4,502	-15,699	-1,062	-8,424	-8,803	1,864	-14,850	-7,777	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,688	4,431	2,107	-7,353	-11,539	-11,078	-10,819	0	0	0
Net cash provided by (used in) investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-14,925	-	-10,553	-4,773	2,589	-13,110	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Financing activities:
Proceeds from the issuance of common stock, net of issuance costs of $0, $0 and $1,245,196, respectively
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,595	0	0	0
Proceeds from the issuance of equity plan common stock
4,185	5,068	5,581	5,542	3,606	1,574	1,125	801	823	805	687	537	1,472	1,658	1,755	1,720	550	352	246	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on other borrowings
142	210	296	271	271	434	270	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	857	935	608	732	674	670	330	258	0	0	0
Principal payments on capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	22	21	21	20	20	21	19	19	19	18	17	17	16	16	15	15	14	0	0	0	-	-	-	-
Net cash provided by (used in) financing activities
2,690	3,956	4,383	2,957	1,022	-144	-429	552	574	805	687	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	919	592	717	558	14,403	14,172	14,853	0	0	0
Foreign currency effect on cash and cash equivalents
-219	-336	-406	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in cash and cash equivalents
-1,817	4,356	7,720	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency effect on cash and cash equivalents
-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	331	-	115	0	20	51	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency effect on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-19	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in cash and cash equivalents
-	-	-	-	-	-	-	-	0	126	-	4,290	-267	1,861	6,257	2,278	7,486	-8,430	-5,014	-6,410	-2,181	2,606	-15,528	-13,804	-2,070	584	16,592	16,752	3,769	2,881	1,046	-7,831	3,917	4,569	4,350	0	0	0
Supplemental disclosures of cash flow information:
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	3	3	4	4	5	5	6	6	7	7	8	8	11	9	10	10	8	8	5	0	0	0
Cash paid for income taxes
14	241	310	584	613	462	402	136	162	86	113	38	-21	43	17	186	177	112	105	2	1	3	2	0	0	0	-	-	-	-	0	0	0	1	2	0	0	0
Supplemental disclosures of non-cash investing and financing activities:
Unrealized holding gain on available for sale investments
68	18	29	44	80	62	-10	-24	-72	-57	-19	-49	-18	6	7	44	18	-12	5	-16	-21	-11	-10	6	5	-2	2	-2	1	8	9	0	0	0	-	-	-	-
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
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	95	0	0	0	-	-	-	-
Conversion of debt to common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,063	0	0	0