MODEL N, INC. MODN Cash Flow

Model n, inc. (MODN)

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
Cash flows from operating activities
Net loss
-4,629	-2,998	-5,655	-3,004	-5,908	-4,726	-3,619	-15,435	-3,896	-5,257	-	-	-12,490	-7,600	-7,756	-8,646	-8,910	-7,799	-4,955	-5,786	-4,599	-4,299	-5,926	-6,800	-5,032	-3,123	748	1,535	-1,896	-1,313
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization
1,361	1,452	1,599	1,658	1,691	1,842	1,889	1,983	2,162	2,265	2,319	2,373	2,399	1,094	1,527	1,546	1,537	1,319	1,080	1,113	950	933	1,173	829	839	875	793	477	495	442
Amortization of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	83	82	83	-	82	84	81
Stock-based compensation
6,009	5,823	8,518	3,723	4,896	4,203	4,012	12,030	3,246	4,036	3,625	2,487	2,553	1,895	4,281	3,629	2,608	2,550	2,943	2,736	2,282	2,394	2,499	2,662	2,816	1,972	1,550	1,807	942	557
Amortization of debt discount and issuance cost
31	109	178	111	179	111	114	208	242	236	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
225	-190	346	-176	6	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31	34	25
Amortization of capitalized contract acquisition costs
576	624	581	420	407	373	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	61	10	10
Other non-cash charges
20	0	13	0	86	22	-167	8	-469	491	23	-4	-186	-49	-	-	-	-46	-7	-52	-78	-57	-54	-9	-10	-10	-	-	-	-
Changes in fair value of preferred stock warrant liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	685	-14
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1	8
Changes in assets and liabilities
Accounts receivable
-4,670	4,141	1,435	6,058	-8,191	-162	-3,278	211	-7,224	13,846	-8,981	6,685	1,531	-655	263	-2,660	263	4,984	-4,742	2,920	1,231	1,516	-2,789	-2,448	3,702	552	-4,048	5,035	-748	3,480
Prepaid expenses and other assets
880	398	3,790	1,963	-212	-383	858	-506	971	-363	475	-885	-864	-843	462	1,193	-113	-84	465	678	-317	392	-279	159	809	-1,096	1,182	370	151	1,340
Deferred cost of implementation services
-	-	-	-	-	-	2	-150	-147	-191	-213	-213	-375	-701	82	455	374	85	82	178	172	86	23	-176	-78	-11	-620	-15	-273	-17
Accounts payable
740	136	-396	226	-974	1,836	318	-1,067	-1,901	1,216	-704	-92	-1,353	591	977	828	-89	-222	-1,717	885	795	494	897	-38	175	-349	-1,635	1,592	-862	1,169
Accrued employee compensation
1,489	-6,384	2,668	3,785	1,141	-5,579	1,854	2,956	399	-5,896	1,144	2,300	80	-898	-39	805	-18	-1,425	57	1,218	-494	-797	-2,282	435	-2,112	-665	3,576	2,275	449	-25
Other current and long-term liabilities
-1,030	-573	-203	-265	1,179	-471	-983	886	-822	-703	1,098	841	-628	-1,298	-1,609	1,538	-172	496	-302	639	669	-30	406	-374	-247	-285	-371	-308	-457	2,036
Deferred revenue
-158	1,549	3,289	5,841	-6,208	-2,373	-3,194	-747	-1,012	8,145	-3,105	5,144	7,992	-4,261	-1,141	-317	4,674	2,730	-4,270	4,336	-2,402	-211	-2,216	3,022	3,957	-873	-7,599	-331	-1,756	711
Net cash provided by operating activities
8,426	-4,991	5,649	4,336	4,726	-4,261	3,165	4,384	4,715	-9,741	4,299	-2,653	-5,382	-8,229	-4,554	452	-932	-7,290	-2,929	1,417	-3,807	-3,453	-2,598	2,293	-3,945	-1,800	270	1,833	-1,401	-1,116
Cash flows from investing activities
Purchases of property and equipment
69	29	53	60	26	141	87	74	31	60	69	68	28	194	473	526	746	357	327	726	312	710	332	985	437	81	581	339	308	164
Net cash used in investing activities
-69	-29	-53	-60	-26	-141	-87	-74	-31	-60	-103	-118	-42,811	-5,469	-665	-791	-829	-13,504	-975	-1,359	-999	-1,273	-713	-985	9,561	-10,079	-1,568	-1,315	-1,139	-1,118
Cash held in escrow for acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	5,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net purchase of short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,998	-	-	0	63
Cash flows from financing activities
Acquisition of business, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	12,615	-	-	-	-	-	-	-	-	-	-	-	-
Capitalization of software development costs
-	-	-	-	-	-	-	-	-	-	34	50	10	275	192	265	83	532	648	633	687	563	381	0	0	0	1,043	976	831	891
Proceeds from exercise of stock options and issuance of employee stock purchase plan
2,224	18	-	-	1,982	36	-	-	-	-	-	-	-	17	-	-	-	135	-	-	-	158	-	-	-	-	-	-	-	90
Proceeds from exercise of stock options and issuance of employee stock purchase plan
-	-	-	-	-	-	1,431	235	2,221	552	-	-	-	-	-	-	-	-	-	-	-	-	1,189	211	3,388	1,450	-	-	-	-
Payments for deferred offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	586	1,761	215
Principal payments on capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	71	94	127	144	144	158	140
Repayments of Long-term Debt
5,000	0	5,000	0	4,750	250	5,250	50,000	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,958	625	625
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	49,411	17	-	490	1,410	135	1,150	598	1,544	158	1,163	134	3,294	1,323	-	-	-	-
Net cash used in financing activities
-2,776	18	-3,328	180	-2,768	-214	-3,954	-1,822	2,221	552	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	98,943	-890
Effect of exchange rate changes on cash and cash equivalents
-87	11	-17	-17	-20	90	-65	-72	0	15	2	11	18	-22	-1	-21	-7	-7	-38	-4	7	-24	-16	4	25	-5	-26	-31	-12	-11
Net increase (decrease) in cash and cash equivalents
5,494	-4,991	2,251	4,439	1,912	-4,526	-941	2,416	6,905	-9,234	5,727	-1,851	1,236	-13,703	-3,976	130	-358	-20,666	-2,792	652	-3,255	-4,592	-2,164	1,446	8,935	-10,561	-1,728	-3,946	96,391	-3,135
Capitalized stock options in software development costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	58	51	27	0	0	0	78	63	29	12
Deferred offering costs not yet paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	6	-379	-673	-860	1,918