Mtbc, inc. (MTBCP)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
OPERATING ACTIVITIES:
NET LOSS

-2,501

332

-137

-770

-295

-576

-1,832

195

75

-183

-980

-1,693

-2,707

-4,024

-1,494

-1,294

-1,983

-800

-1,233

-1,487

-1,165

-995

-2,840

-289

-383

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization

1,503

613

829

853

773

898

838

574

602

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

664

1,453

1,519

1,571

1,118

1,205

1,213

1,099

1,137

1,202

1,159

998

1,252

271

270

Amortization of sales commissions

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

11

13

19

16

14

16

9

12

5

8

9

9

3

2

2

2

-2

-2

-2

-2

Lease amortization

683

448

497

549

393

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-88

6

-1

-5

-3

-5

-6

-12

-21

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

281

13

13

87

4

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-

-

-

-

-

-

13

15

-15

-8

-34

15

-14

-9

-1

-4

-13

-5

-3

-11

-10

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-473

132

187

Provision for doubtful accounts

-

-

-

-

-

-

-

-

78

52

37

155

164

86

123

60

21

185

21

40

28

106

27

6

28

Provision (benefit) for deferred income taxes

15

45

49

40

-55

-20

-265

40

38

-138

55

56

54

-

-

-

-

-

-

-

-

-

-

-

-

Foreign exchange (gain) loss

423

-419

-703

538

-243

329

-226

185

146

221

24

-27

30

-19

-16

-28

-26

36

33

57

28

-65

163

-11

-210

Interest accretion

167

115

123

138

120

48

47

46

48

49

538

79

55

55

55

48

41

39

11

0

0

0

53

11

11

Gain from reduction in referral fee

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

105

Gain on sale of assets

-2

12

0

0

26

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash restructuring charges

-

-

-

-

-

-

-

-

-

0

0

0

17

0

0

0

0

-

-

-

-

-

-

-

-

Stock-based compensation expense

1,307

890

774

792

757

939

986

409

127

1,153

125

78

129

1,112

143

132

489

131

172

197

126

121

75

62

0

Change in contingent consideration

-

0

-279

0

-64

5

25

11

31

0

0

162

-11

-107

-196

-366

-44

-503

-367

-87

-828

-1,386

-424

0

0

Acquisition settlements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

110

-

0

0

0

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0

15

-0

-0

Changes in operating assets and liabilities, net of businesses acquired:
Accounts receivable

302

-891

394

-748

480

-577

-899

21

-23

395

93

-282

-248

295

134

-211

237

12

-230

-255

-46

64

2,288

-146

-38

Contract asset

-38

-310

222

-21

-252

-59

791

-373

47

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventory

-4

115

-27

38

-80

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

109

421

679

-567

-3

-273

-66

183

-91

-404

-77

56

-86

-111

-101

-79

-30

-129

-22

-189

108

-259

126

41

18

Accounts payable and other liabilities

-4,460

-673

137

-71

-764

-268

2,598

31

-212

212

-1,015

-373

-365

996

126

-97

61

-484

-402

-401

-400

223

1,850

64

144

Net cash (used in) provided by operating activities

-3,883

2,864

1,440

2,375

937

2,063

2,780

1,294

673

1,589

-618

178

-867

-403

-169

86

-403

-

-

-

-

-

-

-

-

INVESTING ACTIVITIES:
Net cash used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-155

-1,297

-675

-2,126

101

0

Capital expenditures - fixed assets

539

1,231

422

393

510

285

366

202

174

197

154

133

212

143

127

89

102

94

125

118

83

544

468

48

53

Capitalized software

1,641

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for acquisition (net)

11,852

0

0

1,600

0

-

-

-

-

-

-

-

-

1,945

0

175

1,250

60

61

59

0

-

-

-

-

Net cash used in investing activities

-14,033

-1,231

-422

-1,993

-510

-285

-11,966

-1,202

-174

-197

-359

-133

-212

-2,088

-127

-264

-1,352

-

-

-

-

-

-

-

-

FINANCING ACTIVITIES:
Payment of registration statement and bank costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29

70

20

-242

242

0

0

-

-96

82

14

Preferred stock dividends paid

1,981

1,644

1,503

1,486

1,474

1,331

1,056

959

755

638

435

208

202

202

188

159

159

47

0

0

0

-

-

-

-

Purchase of common shares

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

119

427

122

0

0

0

-

-

-

-

Settlement of tax withholding obligations on stock issued to employees

819

71

388

60

872

0

119

0

213

0

0

195

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,000

2,000

2,000

2,800

3,806

2,421

1,650

3,025

1,215

0

1,285

Repayments of notes payable, net

139

140

108

96

84

134

189

46

92

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contingent consideration payments

0

0

0

27

154

38

28

35

47

66

46

9

23

37

153

0

0

-

-

-

-

-

-

-

-

Advances to majority shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-0

1

1

Repayment of advances to majority shareholder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1

0

1

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-177

-83

-544

-12,004

-50

-53

Proceeds from long term debt, net of costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,908

1,904

3,585

0

0

-

-

-

-

Repayments of notes payable

-

-

-

-

-

-

-

-

-

5,093

3,338

3,522

764

835

115

200

237

95

228

231

254

264

358

259

340

Proceeds from line of credit

9,750

-

-

-

0

-

-

-

-

-

-

-

-

0

2,000

2,000

2,000

2,800

2,806

2,421

3,435

3,040

1,200

0

1,485

Other financing activities

-

-

-

-

-

-78

26

-54

-5

218

-117

-91

-126

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

6,809

3,961

1,719

-1,671

-2,586

11,879

-1,427

8,318

-1,114

443

-1,990

4,508

-1,117

-1,141

783

-557

1,064

-

-

-

-

-

-

-

-

EFFECT OF EXCHANGE RATE CHANGES ON CASH

-491

413

666

-654

213

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET DECREASE IN CASH

-11,598

6,006

3,404

-1,943

-1,945

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

EFFECT OF EXCHANGE RATE CHANGES ON CASH

-

-

-

-

-

-

-

-

-206

-262

-52

6

-30

0

4

-12

19

-

-

-

-

-

-

-

-

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-231

1,530

-249

16,575

-291

-155

EFFECT OF EXCHANGE RATE CHANGES ON CASH

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10

-11

25

16

-33

16

NET DECREASE IN CASH

-

-

-

-

-

-

-

-

-821

1,572

-3,021

4,560

-2,227

-3,633

491

-748

-672

6,426

981

-553

137

-1,444

2,461

-273

-191

SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES:
Preferred stock issued in connection with CareCloud acquisition

19,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Vehicle financing obtained

0

0

0

0

24

-

-

-

-

-

-

-

-

32

0

98

91

9

-15

35

0

-

-

-

-

Dividends declared, not paid

2,407

159

99

-0

1,486

412

0

288

767

108

216

219

202

0

43

0

159

-

-

-

-

-

-

-

-

Warrants issued

300

-

-

-

0

-

-

-

-

-

-

-

-

-0

258

-10

430

-113

1,002

0

0

-

-

-

-

Purchase of prepaid insurance through assumption of note

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

450

0

36

Accrued IPO-related costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

229

227

SUPPLEMENTAL INFORMATION - Cash paid during the period for:
Income taxes

6

23

59

1

34

12

0

9

20

-0

2

-0

8

19

16

0

16

0

0

0

9

0

0

0

5

Interest

41

21

18

11

17

19

24

10

9

12

345

124

129

129

117

114

89

75

71

34

75

17

21

25

82