NeoPhotonics Corp NPTN Cash Flow

Neophotonics corp (NPTN)

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
Cash flows from operating activities
Net income (loss)
3,322	-17,076	-25,874	-36,271	-39,482	-43,637	-51,191	-61,253	-60,057	-53,333	-37,054	-26,054	-14,037	-205	-1,802	6,763	5,878	3,668	4,854	1,539	-7,031	-19,719	-25,756	-33,182	-34,687	-34,339	-32,876	-22,790	-18,162	-17,530	0	0	0	-	-	-	0
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,875	23,422	23,988	24,181	23,403	23,010	22,330	21,757	20,381	0	0	0	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Stock-based compensation expense
11,636	12,456	12,909	13,999	14,133	14,142	13,041	10,934	9,681	8,206	8,323	15,165	15,509	17,076	16,790	9,450	9,146	7,763	7,447	7,199	6,996	6,841	6,283	6,685	6,435	5,736	5,607	5,299	4,835	4,777	4,171	3,382	2,338	3,156	0	0	0
Deferred taxes
927	-287	-286	-286	-286	-328	77	141	202	792	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	221	-65	-65	-65	-452	0	0	0
Adjustment to fair value of Rusnano payment derivative
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-291	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Others
0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Deferred taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of investment, debt and other
-	-	-	-	-	-	-	-	-	-	-	-	-	-159	-173	-174	-296	-296	-137	-107	-58	-86	-341	-529	-744	-1,003	0	0	0	-	-	-	-	-	-	-	-
Loss (gain) on sale of assets and other write-offs
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	231	224	0	0	0
Loss (gain) on foreign currency hedges
-	-	-	-	-	-2,220	-1,617	29	3,009	2,104	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	750	0	0	0	-	-	-	0
Allowance for doubtful accounts
-	-	-	-	-	61	357	384	112	577	109	103	37	-382	-403	161	250	640	75	-193	-131	-266	56	-96	-359	-253	112	75	326	312	620	535	450	535	0	0	0
Write-down of inventories
10,094	7,847	9,683	9,755	5,102	6,133	4,466	7,927	9,948	8,349	8,071	3,522	2,437	2,983	4,925	6,091	5,911	6,486	0	0	0	-	-	0	0	-	-	1,050	2,441	3,132	3,687	3,225	1,389	680	0	0	0
Loss (gain) on disposal of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-394	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of operating lease right-of-use assets
1,804	1,774	1,320	872	432	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency remeasurement and other, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,992	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset impairment charge
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0
Foreign currency remeasurement
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in assets and liabilities:
Accounts receivable
-3,372	-5,838	-1,069	-17,270	-2,184	7,874	70	20,925	-2,957	-13,166	-28,420	-29,894	-15,950	-2,496	17,675	8,229	2,327	-2,529	-9,547	-9,499	5,398	13,269	-82	6,298	6,564	-7,234	8,950	-3,203	3,802	1,802	1,682	-5,580	-16,673	2,750	0	0	0
Inventories
3,936	2,891	2,163	-1,092	-7,458	-7,368	-19,601	-14,117	4,831	22,347	42,316	35,515	23,629	1,332	-6,590	494	4,979	14,899	17,205	6,006	-2,520	-4,990	-949	10,398	10,189	10,458	5,325	5,324	11,830	11,828	5,455	7,307	7,597	8,508	0	0	0
Prepaid expenses and other assets
2,844	-429	-4,183	-5,650	-5,859	-8,162	-6,550	-8,959	9,408	11,409	19,747	25,486	5,956	11,184	7,092	5,218	5,854	1,691	-320	-899	1,359	5,912	4,509	5,627	3,015	1,795	-807	-1,151	-309	199	2,482	877	30	-1,795	0	0	0
Accounts payable
1,714	-41	2,451	-8,438	-435	-1,411	-6,408	-13,231	-9,170	-10,874	1,077	17,338	16,021	23,111	9,636	5,872	-890	-4,692	-5,713	-7,186	-8,813	979	-1,046	11,229	14,754	7,712	10,599	-4,447	-1,450	-2,992	-5,323	-6,206	-6,803	-452	0	0	0
Accrued and other liabilities
-1,836	-5,269	-5,986	-2,557	3,200	5,838	669	-231	10,532	6,452	13,092	13,727	4,091	218	2,121	908	-2,993	6,175	3,345	2,527	418	484	-3,112	1,824	2,873	5,382	3,708	-1,659	3,382	-1,030	2,098	1,083	-57	-3,212	0	0	0
Net cash provided by operating activities
50,914	34,687	28,998	33,529	31,750	19,595	17,441	-20,805	-17,475	-32,767	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9,977	-13,121	-4,860	-12,510	0	0	0
Net cash (used in) provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	23,876	-	32,089	34,978	14,352	-451	-1,910	-11,690	-4,007	4,511	0	0	0	-	-	-	-	-	-	-	-
Cash flows from investing activities
Purchase of property, plant and equipment
8,510	9,532	6,737	8,256	10,174	14,867	20,325	23,465	38,132	47,409	63,192	71,695	64,613	51,693	35,748	25,798	19,327	16,837	12,954	10,754	11,117	11,027	14,344	15,020	16,502	19,566	18,121	18,226	15,853	12,738	12,050	11,307	11,037	11,677	0	0	0
Acquisition, net of notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Proceeds from sale of property, plant and equipment and other assets
2,347	2,242	2,138	2,003	27	32	35	40	73	21,809	21,846	21,944	21,918	179	184	166	148	245	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of marketable securities
138	157	166	166	926	920	911	11,095	13,293	52,062	65,239	76,728	89,489	82,728	0	0	0	-	-	-	-	9,662	10,621	19,742	34,902	58,860	61,909	91,885	171,953	155,887	175,983	143,697	185,936	172,972	0	0	0
Proceeds from sale of marketable securities
-	-	-	-	-	-	-	-	-	52,272	67,134	81,430	93,611	63,841	0	0	0	-	-	-	-	9,634	18,234	28,234	39,744	53,847	45,666	86,211	122,866	104,258	144,988	100,293	119,048	113,909	0	0	0
Proceeds from maturity of marketable securities
-	-	-	-	-	-	-	-	-	6,458	14,233	21,606	28,106	23,148	0	0	0	-	-	-	-	9,448	10,651	19,551	34,465	50,358	55,506	51,658	46,735	40,935	35,584	34,155	19,723	4,623	0	0	0
Settlement of foreign currency hedges
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-125	-1,134	-1,185	-10,135	-11,188	-14,191	1,000	10,847	12,727	16,316	842	-561	-1,174	-820	-1,064	-608	-198	-432	-72	48	0	0	0
Settlement of foreign currency hedges
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from initial public offering of common stock, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Proceeds received on sale of discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Net cash used in investing activities
-6,301	-7,447	-4,765	-4,198	-8,665	-11,781	-17,162	-32,153	-41,798	-17,314	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-44,499	-57,322	-74,003	-83,863	0	0	0
Proceeds received on sale of discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-48,472	-	-18,071	2,026	-13,664	-13,945	-8,799	-1,350	23,014	13,304	0	0	0	-	-	-	-	-	-	-	-
Cash flows from financing activities
Proceeds from exercise of stock options and issuance of stock under ESPP
3,920	3,846	4,017	5,488	5,647	5,614	5,126	3,690	4,518	4,893	5,072	6,185	5,853	6,587	6,614	5,235	3,930	2,717	0	0	0	-	-	-	-	3,370	0	0	0	-	-	-	-	-	-	-	-
Offering costs
-	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	0	0	-	-	-	-
Tax withholding on restricted stock units
870	733	912	1,005	976	954	772	636	1,021	998	1,018	1,176	618	615	609	613	576	727	705	492	492	387	452	571	573	565	0	0	0	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options and warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Proceeds from bank loans, net of debt issuance costs
0	5,000	9,947	14,886	14,863	34,305	46,153	88,259	113,651	112,834	119,839	96,594	95,025	95,200	95,144	95,040	91,922	80,256	0	0	0	-	-	-	-	26,443	0	0	0	-	-	-	-	-	-	-	-
Repayment of bank loans
14,092	18,084	18,029	34,966	46,960	63,040	57,545	60,050	66,316	68,492	92,299	96,117	96,122	96,119	95,960	92,987	110,354	94,032	0	0	0	-	-	-	-	24,110	0	0	0	-	-	7,339	6,628	14,214	0	0	0
Repayment of notes payable
2,215	4,774	5,970	6,916	5,423	3,732	4,418	6,716	8,785	11,639	13,727	15,323	16,682	18,007	19,495	23,025	25,067	25,498	26,311	24,059	23,120	22,090	19,560	19,292	20,132	22,166	23,960	25,198	27,216	28,601	29,563	29,781	28,611	28,157	0	0	0
Repayment of bank and acquisition-related loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of notes payable
-	-	-	-	-	7,137	5,574	4,425	4,353	6,621	8,730	11,050	14,014	16,032	17,404	18,886	20,668	21,259	23,441	24,535	24,661	25,264	24,213	22,391	20,840	19,543	20,460	22,671	23,102	25,959	27,603	28,678	29,690	29,390	0	0	0
Repayment of finance lease liabilities
75	87	60	46	33	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from government grants
-	-	-	-	-	1,210	1,228	1,257	472	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	26,404	-	30,388	30,068	10,371	3,029	3,082	3,515	-17,000	2,515	0	0	0	-	-	-	-	-	-	-	-
Net cash used in financing activities
-13,378	-14,878	-8,729	-17,508	-25,705	-19,460	-4,654	30,229	46,872	43,102	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	61,033	60,649	22,305	102,635	0	0	0
Effect of exchange rates on cash, cash equivalents and restricted cash
-768	-161	-564	-438	-599	-680	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of exchange rates on cash, cash equivalents and restricted cash
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in cash, cash equivalents and restricted cash
30,467	12,201	14,929	11,418	-3,219	-12,326	-4,151	-21,729	-10,824	-5,021	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of exchange rates on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	-695	-1,071	-802	-2,425	-2,980	-2,113	-2,699	-760	10	-355	-169	248	63	43	180	520	698	909	758	0	0	0
Net increase (decrease) in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,625	-9,659	737	33,053	41,981	64,092	8,946	-14,066	-8,387	-9,515	1,652	20,161	5,077	14,329	14,514	4,455	7,077	-9,096	-55,649	7,020	0	0	0
Supplemental disclosure of non-cash investing and financing activities:
Decrease (increase) in unpaid property, plant and equipment
-	-	-	-	-	8,548	8,558	6,673	13,745	6,072	5,295	-2,415	-13,500	-13,629	-12,122	-4,625	-1,915	-396	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Modification of bank loan with Comerica
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,786	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of note to seller of acquired business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,482	0	0	0	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Transfer of restricted investments to short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,296	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unpaid property, plant and equipment in accounts payable
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-