MODEL N, INC. MODN Cash Flow

Model n, inc. (MODN)

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
Cash flows from operating activities
Net loss
-16,286	-17,565	-19,293	-17,257	-29,688	-27,676	-28,207	0	0	0	-	-	-36,492	-32,912	-33,111	-30,310	-27,450	-23,139	-19,639	-20,610	-21,624	-22,057	-20,881	-14,207	-5,872	-2,736	-926	0	0	0
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization
6,070	6,400	6,790	7,080	7,405	7,876	8,299	8,729	9,119	9,356	8,185	7,393	6,566	5,704	5,929	5,482	5,049	4,462	4,076	4,169	3,885	3,774	3,716	3,336	2,984	2,640	2,207	0	0	0
Amortization of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Stock-based compensation
24,073	22,960	21,340	16,834	25,141	23,491	23,324	22,937	13,394	12,701	10,560	11,216	12,358	12,413	13,068	11,730	10,837	10,511	10,355	9,911	9,837	10,371	9,949	9,000	8,145	6,271	4,856	0	0	0
Amortization of debt discount and issuance cost
429	577	579	515	612	675	800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
205	-14	176	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Amortization of capitalized contract acquisition costs
2,201	2,032	1,781	1,200	780	373	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Other non-cash charges
33	99	121	-59	-51	-606	-137	53	41	324	-216	0	0	0	-	-	-	-183	-194	-241	-198	-130	-83	0	0	0	-	-	-	-
Changes in fair value of preferred stock warrant liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Changes in assets and liabilities
Accounts receivable
6,964	3,443	-860	-5,573	-11,420	-10,453	3,555	-2,148	4,326	13,081	-1,420	7,824	-1,521	-2,789	2,850	-2,155	3,425	4,393	925	2,878	-2,490	-19	-983	-2,242	5,241	791	3,719	0	0	0
Prepaid expenses and other assets
7,031	5,939	5,158	2,226	-243	940	960	577	198	-1,637	-2,117	-2,130	-52	699	1,458	1,461	946	742	1,218	474	-45	1,081	-407	1,054	1,265	607	3,043	0	0	0
Deferred cost of implementation services
-	-	-	-	-	-	-486	-701	-764	-992	-1,502	-1,207	-539	210	996	996	719	517	518	459	105	-145	-242	-885	-724	-919	-925	0	0	0
Accounts payable
706	-1,008	692	1,406	113	-814	-1,434	-2,456	-1,481	-933	-1,558	123	1,043	2,307	1,494	-1,200	-1,143	-259	457	3,071	2,148	1,528	685	-1,847	-217	-1,254	264	0	0	0
Accrued employee compensation
1,558	1,210	2,015	1,201	372	-370	-687	-1,397	-2,053	-2,372	2,626	1,443	-52	-150	-677	-581	-168	-644	-16	-2,355	-3,138	-4,756	-4,624	1,234	3,074	5,635	6,275	0	0	0
Other current and long-term liabilities
-2,071	138	240	-540	611	-1,390	-1,622	459	414	608	13	-2,694	-1,997	-1,541	253	1,560	661	1,502	976	1,684	671	-245	-500	-1,277	-1,211	-1,421	900	0	0	0
Deferred revenue
10,521	4,471	549	-5,934	-12,522	-7,326	3,192	3,281	9,172	18,176	5,770	7,734	2,273	-1,045	5,946	2,817	7,470	394	-2,547	-493	-1,807	4,552	3,890	-1,493	-4,846	-10,559	-8,975	0	0	0
Net cash provided by operating activities
13,420	9,720	10,450	7,966	8,014	8,003	2,523	3,657	-3,380	-13,477	-11,965	-20,818	-17,713	-13,263	-12,324	-10,699	-9,734	-12,609	-8,772	-8,441	-7,565	-7,703	-6,050	-3,182	-3,642	-1,098	-414	0	0	0
Cash flows from investing activities
Purchases of property and equipment
211	168	280	314	328	333	252	234	228	225	359	763	1,221	1,939	2,102	1,956	2,156	1,722	2,075	2,080	2,339	2,464	1,835	2,084	1,438	1,309	1,392	0	0	0
Net cash used in investing activities
-211	-168	-280	-314	-328	-333	-252	-268	-312	-43,092	-48,501	-49,063	-49,736	-7,754	-15,789	-16,099	-16,667	-16,837	-4,606	-4,344	-3,970	6,590	-2,216	-3,071	-3,401	-14,101	-5,140	0	0	0
Cash held in escrow for acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net purchase of short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0
Cash flows from financing activities
Acquisition of business, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,615	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Capitalization of software development costs
-	-	-	-	-	-	-	-	-	-	369	527	742	815	1,072	1,528	1,896	2,500	2,531	2,264	1,631	944	381	1,043	2,019	2,850	3,741	0	0	0
Proceeds from exercise of stock options and issuance of employee stock purchase plan
0	0	-	-	0	0	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	0
Proceeds from exercise of stock options and issuance of employee stock purchase plan
-	-	-	-	-	-	4,439	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	6,238	0	0	0	-	-	-	-
Payments for deferred offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Principal payments on capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	318	436	509	573	586	0	0	0
Repayments of Long-term Debt
10,000	9,750	10,000	10,250	60,250	55,500	55,250	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,208	0	0	0
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	0	3,161	-	3,185	3,293	3,427	3,450	3,463	2,999	4,749	5,914	0	0	0	-	-	-	-
Net cash used in financing activities
-5,906	-5,898	-6,130	-6,756	-8,758	-3,769	-3,003	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Effect of exchange rate changes on cash and cash equivalents
-110	-43	36	-12	-67	-47	-122	-55	28	46	9	6	-26	-51	-36	-73	-56	-42	-59	-37	-29	-11	8	-2	-37	-74	-80	0	0	0
Net increase (decrease) in cash and cash equivalents
7,193	3,611	4,076	884	-1,139	3,854	-854	5,814	1,547	-4,122	-8,591	-18,294	-16,313	-17,907	-24,870	-23,686	-23,164	-26,061	-9,987	-9,359	-8,565	3,625	-2,344	-1,908	-7,300	80,156	87,582	0	0	0
Capitalized stock options in software development costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	109	136	136	78	27	78	141	170	182	0	0	0
Deferred offering costs not yet paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-373	-1,046	-1,906	6	0	0	0