ORION ENERGY SYSTEMS, INC. OESX Cash Flow

Orion energy systems, inc. (OESX)

CashFlow / TTM

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	Dec'10	Sep'10	Jun'10
Operating activities
Net income (loss)
-	-	-14	-	-	-	-9,256	-13,128	-18,958	-18,611	-15,912	-12,288	-15,866	-16,784	-19,414	-20,126	-13,949	-16,608	-31,354	-32,061	-36,207	-30,526	-9,777	-6,199	3,189	2,822	-9,240	-10,399	-11,105	-11,682	-665	483	1,160	903	85	341	0	0	0
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation
1,243	1,270	1,307	1,339	1,360	1,382	1,398	1,404	1,398	1,397	1,415	1,451	1,733	2,144	2,553	2,950	3,019	2,911	2,877	2,853	2,965	3,277	3,546	3,798	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
383	400	417	444	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization
-	-	-	-	-	-	-	-	-	0	800	-	881	993	1,107	1,215	1,276	1,334	1,332	1,327	1,455	1,229	1,010	704	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	3,885	3,617	3,435	3,270	0	0	0
Stock-based compensation
701	716	768	825	873	923	1,010	1,102	1,221	1,355	1,596	1,605	1,548	1,592	1,406	1,462	1,415	1,452	1,457	1,499	1,870	1,702	1,650	1,593	1,223	1,070	1,168	1,164	1,215	1,380	1,281	1,267	1,336	1,347	1,405	1,301	0	0	0
Amortization of debt issue costs
252	222	162	101	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,502	3,728	-1,873	-755	-901	-348	-736	-1,184	0	0	0
Loss on sale of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-40	-1	-17	12	21	-1,617	-1,617	-1,707	-1,733	-143	-135	-80	-69	0	0	0	-	-	-	-	-	-	-	-
Provision for inventory reserves
134	76	-139	-202	416	801	1,148	1,261	2,292	2,070	2,088	2,212	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for inventory reserves
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Provision for inventory reserves
134	76	-139	-202	416	801	1,148	1,261	2,292	2,070	2,088	2,212	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for bad debts
-	-	-26	56	67	86	71	22	35	86	540	132	448	415	-19	575	294	370	460	285	323	241	138	174	132	732	832	757	869	507	516	566	0	0	0	-	-	0	0
Other
-77	-72	-75	-57	98	98	103	94	-42	-78	-134	-178	-350	-332	-295	-258	-213	-235	-255	-265	-172	-171	-161	-165	-128	-99	-70	-71	-68	-81	-106	-85	-74	-55	-45	-51	0	0	0
Changes in operating assets and liabilities:
Accounts receivable, current and long-term
9,117	21,189	16,795	5,840	-2,784	-2,562	-72	-419	-3,036	-4,021	-5,595	-1,687	-2,599	-3,413	-6,069	-7,116	-3,607	456	4,497	1,909	-4,155	-4,476	-14,612	-8,395	-5,213	-6,908	5,133	-2,499	-1,796	-647	-9,466	-3,364	0	0	0	-	-	0	0
Revenue earned but not billed
-2,337	3,496	2,452	1,390	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revenue earned but not billed
-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventories
3,352	9,388	6,197	4,689	-219	-1,070	-3,408	-4,706	-5,509	-5,627	-1,136	-1,220	-774	2,048	466	3,249	3,573	4,137	4,471	2,356	3,115	-847	-3,710	-3,962	-6,159	-6,373	-2,437	-2,880	-2,881	-1,465	-2,327	1,538	455	-1,390	1,620	3,098	0	0	0
Deferred contract costs
-	-	-	-	-	-	-	65	-218	-208	1,469	899	1,203	159	-18	-137	-775	-975	42	-651	153	-1,327	-2,881	-1,376	-1,058	-2,311	265	-75	-959	1,857	-10,149	-7,396	0	0	0	-	-	-	-
Prepaid expenses and other assets
11	63	87	-68	786	624	-704	-391	20	683	392	-1,974	1,302	94	1,419	2,645	-6,857	-566	-1,409	-1,261	2,492	-827	682	1,072	105	-928	-1,730	-1,315	1,741	-750	2,348	2,025	1,587	-1,582	-1,020	2,542	0	0	0
Accounts payable
5,371	23,511	16,597	8,916	545	1,895	1,473	20	-653	-4,564	-593	-81	298	3,689	-2,812	713	-4,598	-371	6,073	2,475	5,423	-2,858	-5,221	-762	-3,681	-4,760	-1,160	-6,527	-2,129	4,782	-4,750	1,817	125	1,149	10,101	4,722	0	0	0
Accrued expenses and other
815	3,352	3,305	1,975	-1,105	-1,926	-1,546	-1,736	-741	-193	-1,093	-635	2,475	1,800	2,499	1,803	-1,216	621	439	838	348	-398	-2,725	-1,575	-2,718	-1,601	2,568	2,221	3,250	2,456	941	841	0	0	0	-	-	-	-
Deferred revenue, current and long-term
-110	-79	-44	-44	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue, current and long-term
-	-	-	-	-	-	-	-	-	-	452	-	248	203	-204	-254	-219	-295	-149	-410	-896	-500	-3,723	-2,274	-2,014	-4,707	-402	-1,458	409	620	-8,060	-4,542	0	0	0	-	-	-	-
Accrued expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Net cash provided by (used in) operating activities
10,827	4,523	-3,123	-5,058	-2,944	-886	1,401	-4,415	-5,250	-7,198	-5,343	-1,903	118	2,481	-3,648	-3,473	-5,920	-13,045	-13,669	-12,812	-11,165	-4,736	6,596	9,901	13,171	14,138	4,276	2,261	4,948	7,784	11,806	11,495	8,426	1,372	-2,669	-8,645	0	0	0
Investing activities
Purchases of property and equipment
796	776	558	381	201	295	331	512	762	717	811	660	475	448	350	401	661	1,154	1,806	2,006	1,700	1,219	584	410	668	666	1,311	2,159	2,774	4,036	4,319	4,324	3,023	2,657	3,012	2,611	0	0	0
Purchase of property and equipment leased to customers under PPAs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	220	716	2,342	2,343	0	0	0
Purchase of short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	2	2	4	4	5	5	5	5	5	5	5	5	5	7	5	11	0	0	0
Additions to patents and licenses
-	-	-	-	-	-	-	73	82	108	311	291	0	0	0	-	-	-	-	234	81	90	72	43	79	92	147	153	137	174	204	224	203	172	167	157	0	0	0
Proceeds from sales of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	2,600	2,635	2,635	2,635	35	0	0	39	1,040	1,052	1,081	1,051	80	84	66	68	46	49	42	31	24	0	0	0	-	-	-	-
Long term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net cash used in investing activities
-908	-889	-626	-449	-260	-366	-384	-585	-844	-825	-1,122	1,649	1,908	1,979	2,279	-372	-368	-867	-1,482	-730	-176	325	-4,046	-4,814	-5,660	-5,689	-1,395	-2,271	-2,867	-4,173	-4,497	-4,532	-3,116	-3,221	-5,318	-5,121	0	0	0
Financing activities
Payment of long-term debt
-	-	82	-	-	-	110	158	198	248	566	880	1,265	1,644	1,761	1,901	3,252	3,909	4,196	4,494	3,530	3,317	3,198	3,229	3,366	3,251	3,334	3,169	2,790	2,607	2,279	1,856	2,809	2,470	2,206	2,077	0	0	0
Proceeds from revolving credit facility
80,972	89,459	74,182	60,270	59,306	67,569	69,615	68,734	76,156	80,900	87,584	87,935	81,476	79,890	77,052	65,767	50,496	29,588	7,873	2,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of revolving credit facility
83,470	87,121	67,511	54,976	59,601	69,235	71,167	71,456	78,416	82,676	86,219	85,025	80,568	77,495	77,753	64,549	45,523	27,125	4,685	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,989	0	0	0	-	-	-	-
Proceeds from repayment of shareholder notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	46	13	107	224	215	244	151	37	38	16	49	56	56	0	0	0	-	-	-	-
Proceeds from issuance of common stock, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,465	-600	-225	-35	0	540	166	-13	0	112	115	124	174	252	353	466	504	0	0	0
Payment of common stock issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to settle employee tax withholdings on stock-based compensation
76	76	70	10	10	7	12	9	11	23	15	19	31	18	38	34	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	70	328	199	1,340	989	0	0	0	-	-	-	-
Repurchase of common stock into treasury
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,007	6,468	5,263	3,203	740	0	0	0	-	-	-	-
Deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	124	120	109	13	57	0	0	0
Net proceeds from employee equity exercises
21	18	21	4	3	5	7	6	8	7	6	8	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from employee equity exercises
21	18	21	4	3	5	7	6	8	7	6	8	23	96	94	104	144	102	241	441	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-2,753	1,799	6,144	4,812	-763	-1,754	-1,667	-2,883	-2,461	-2,040	790	2,019	-366	828	-2,407	-615	18,991	16,228	16,751	15,976	-2,243	-2,022	-1,678	-1,895	-2,246	-4,100	-6,368	-8,625	-7,240	-5,956	-915	4,488	3,065	4,084	4,348	1,962	0	0	0
Net increase (decrease) in cash and cash equivalents
-	-	2,395	-	-	-	-650	-7,883	-8,555	-10,063	-5,675	1,765	1,660	5,288	-3,776	-4,460	12,703	2,316	1,600	2,434	-13,584	-6,433	872	3,192	5,265	4,349	-3,487	-8,635	-5,159	-2,345	6,394	11,451	8,375	2,235	-3,639	-11,804	0	0	0
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	287	242	481	398	423	455	353	498	535	549	566	562	488	523	443	377	368	0	0	0
Cash paid for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35	16	23	22	26	83	76	102	106	78	96	104	99	69	44	34	0	0	0
Shares returned to treasury in satisfaction of receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0
Vendor financed capital lease addition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-