Nevro corp. (NVRO)
CashFlow / TTM
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
Cash flows from operating activities
Net loss

-84,498

-103,686

-99,551

-92,969

-75,568

-49,205

-43,909

-38,874

-39,864

-36,658

-42,172

-39,828

-36,997

-31,778

-36,144

-51,712

-62,659

-67,431

-61,551

-49,981

-37,684

-30,680

0

0

0

Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization

4,811

4,600

4,361

4,327

4,170

3,900

3,571

3,159

2,830

2,500

2,257

2,056

1,822

1,717

1,561

1,253

948

614

318

187

126

96

0

0

0

Amortization of operating lease assets

3,240

3,237

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

39,784

41,697

40,934

39,196

38,796

36,637

34,294

31,251

28,315

26,143

24,199

21,712

18,776

15,760

12,670

10,699

9,162

7,325

5,847

4,330

2,811

1,998

0

0

0

Accretion of discount on short-term investments

1,367

2,037

2,488

2,374

2,006

1,257

511

265

114

116

251

116

195

231

282

493

467

458

505

273

91

-82

0

0

0

Provision for doubtful accounts

146

-27

49

204

242

-501

-66

-432

-291

293

262

1,050

1,111

909

0

0

0

-

-

-

-

-

-

-

-

Write-down of inventory

-1,923

1,456

2,967

3,055

5,932

2,005

1,179

944

1,797

3,984

4,972

5,745

5,180

4,056

3,455

3,158

3,450

2,767

2,368

2,048

994

754

0

0

0

Non-cash interest expense

8,050

7,912

7,777

7,641

7,512

7,382

7,258

7,132

7,007

6,884

6,764

6,650

5,301

3,681

2,089

524

233

231

0

0

0

-

-

-

-

Unrealized (gains) losses on foreign currency transactions

510

450

-230

168

-658

-1,188

-1,185

-1,382

-516

799

159

913

-779

-1,854

0

0

0

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities
Accounts receivable

-3,546

2,153

-2,353

1,622

7,562

12,214

19,563

10,820

9,391

13,899

12,644

17,706

23,545

32,181

31,144

30,063

22,112

16,233

5,100

811

617

-167

0

0

0

Inventories

1,833

938

-1,497

-706

-2,113

-3,846

-645

9,383

14,846

16,297

26,433

22,669

21,104

27,031

33,862

45,254

52,376

49,407

32,571

16,697

9,139

5,487

0

0

0

Prepaid expenses and other current assets

235

3,222

-700

626

478

767

1,565

884

599

501

-544

-568

1,680

1,997

3,388

3,515

3,081

1,197

2,758

1,497

716

1,337

0

0

0

Other assets

-306

-514

2,094

2,230

2,139

2,601

969

1,336

1,430

892

936

252

509

505

506

142

-527

1,432

-138

1,858

2,090

204

0

0

0

Accounts payable

-2,439

-7,472

-482

4

1,074

5,170

2,157

11,985

10,429

2,162

5,133

-972

-270

-5,586

129

4,914

3,763

17,051

8,958

3,868

4,646

1,283

0

0

0

Accrued liabilities

2,324

13,205

11,377

9,832

4,907

-242

2,525

3,284

8,295

12,269

9,945

8,735

8,593

12,136

10,719

8,729

8,634

7,987

5,009

3,408

1,396

1,763

0

0

0

Other long-term liabilities

-3,047

-2,824

-1,790

-554

362

964

611

711

595

647

760

835

790

750

914

442

414

345

91

27

67

55

0

0

0

Net cash used in operating activities

-33,693

-50,200

-31,800

-33,996

-21,177

-5,708

-13,151

-2,139

-6,744

-14,273

-27,472

-34,819

-42,005

-58,503

-73,282

-100,747

-113,866

-100,430

-79,157

-56,681

-39,877

-31,148

0

0

0

Purchases of short-term investments

128,414

211,006

254,334

249,799

268,060

213,723

218,914

245,811

264,929

287,938

312,361

291,108

399,154

372,309

328,915

320,232

232,529

190,000

266,422

237,987

151,067

159,265

0

0

0

Proceeds from maturity of short-term investments

217,419

254,308

310,602

304,936

303,932

228,373

210,004

261,096

271,444

290,341

324,601

286,035

268,492

243,890

218,600

276,350

255,850

235,272

151,246

67,388

46,736

51,835

0

0

0

Investment in private company

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

606

0

0

0

-

-

-

-

Purchases of property and equipment

3,722

3,472

2,382

3,138

3,781

8,217

9,728

9,027

8,632

4,327

3,429

3,501

3,139

3,368

3,112

4,780

5,720

5,008

4,699

2,297

744

625

0

0

0

Net cash provided by (used in) investing activities

83,283

32,330

48,386

46,499

26,591

6,433

-18,638

6,258

3,876

4,069

14,804

-2,581

-133,801

-131,787

-113,427

-48,662

17,601

39,658

-120,481

-173,502

-105,681

-108,055

0

0

0

Cash flows from financing activities
Proceeds from issuance of common stock in public offering, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Minimum tax withholding paid on behalf of employees for net share settlement

4,090

3,057

1,774

1,360

1,681

1,742

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock to employees

50,587

35,150

13,777

10,765

9,483

9,496

10,333

13,004

12,022

12,190

14,410

12,775

11,783

10,307

7,477

6,526

4,942

4,388

0

0

0

-

-

-

-

Net cash provided by financing activities

46,497

32,093

12,003

9,405

7,802

7,754

9,049

11,726

10,816

11,199

13,678

11,464

146,640

145,164

142,333

142,038

123,381

122,827

272,957

271,550

152,131

152,081

0

0

0

Effect of exchange rate changes on cash and cash equivalents

-139

259

-328

-157

-362

-258

-125

124

506

444

199

9

-496

-604

0

0

0

-

-

-

-

-

-

-

-

Net increase (decrease) in cash, cash equivalents and restricted cash

95,942

14,457

28,311

21,774

12,854

8,221

-22,865

15,969

8,454

1,439

1,209

-25,927

-29,662

-45,730

-44,825

-8,015

26,774

61,749

73,082

41,317

6,573

12,878

0

0

0

Purchases of property and equipment in accounts payable

279

285

619

-207

64

245

568

1,164

180

592

-581

56

1,222

725

1,121

1,092

653

752

0

0

0

-

-

-

0

Vesting of early-exercised stock options

-

-

-

-

-

-

-

-

-

7

14

27

38

47

54

53

53

53

65

53

53

154

0

0

0