HIGHER ONE HOLDINGS, INC. ONE Cash Flow

Higher one holdings, inc. (ONE)

CashFlow / TTM

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
10,388	7,748	10,859	-1,680	15,891	12,117	14,967	17,116	6,706	14,036	14,128	19,979	32,791	33,284	36,870	32,387	33,537	34,239	31,893	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
19,209	21,021	21,618	21,377	21,051	19,787	19,072	18,157	16,909	15,964	14,620	13,501	12,317	11,148	10,250	9,153	8,118	7,557	7,021	0	0	0
Amortization of deferred finance costs
4,458	3,886	4,275	1,773	1,397	1,020	484	488	474	464	452	443	368	290	213	124	108	92	76	0	0	0
Gain on disposition of disbursements and data analytics businesses, net
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based customer acquisition expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,493	0	0	0
Stock-based compensation
7,586	5,517	6,589	6,025	5,743	5,214	4,574	4,309	4,166	4,217	4,144	4,128	4,094	4,168	4,093	4,045	4,033	3,974	3,868	0	0	0
Deferred income taxes
3,532	727	255	-9,412	-4,402	-2,992	2,967	-6,657	-2,318	-717	-6,587	4,491	3,425	1,388	1,856	1,433	1,424	-585	-1,678	0	0	0
Income tax benefit related to exercise of stock options and tax payments related to the vesting of restricted stock units
-628	-731	-14	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash fair value adjustment of contingent consideration
-	-	-	-	-	-	-	-	-	-	5,750	13,310	12,465	7,161	7,250	0	0	0	-	-	-	-
Income tax benefit related to exercise of stock options
-	-	-	-	-	-	-	-	-	0	-	-2,655	-7,134	-4,803	-4,655	0	0	0	-	-	-	-
Other non-cash income
325	314	314	313	35	34	35	35	310	310	309	312	312	312	313	233	155	78	0	0	0	0
Loss on disposal of fixed assets
-168	-186	-149	-146	-63	-96	-118	-110	-96	-52	-28	-17	-34	-72	-44	-806	-561	-417	-428	0	0	0
Changes in operating assets and liabilities:
Accounts receivable
-2,585	-2,074	-528	599	2,908	1,037	182	1,878	2,656	3,677	3,117	630	1,239	2,191	-1,220	6,586	6,986	1,236	1,050	0	0	0
Income receivable
-1,575	-404	174	-3,143	-968	-2,593	2,373	4,461	-6,146	2,628	-786	-1,684	5,438	152	1,505	7,845	4,054	4,179	2,242	0	0	0
Deferred costs
419	479	498	543	720	1,015	2,250	2,575	2,722	2,562	1,392	1,120	874	1,343	903	2,340	1,865	902	992	0	0	0
Prepaid expenses and other current assets
449	198	-943	-900	-4,057	660	3,548	-4,668	3,427	-2,133	-6,770	-316	-12,075	-33,417	-13,262	-19,290	-8,151	8,810	-2,329	0	0	0
Other assets
-755	-312	386	2,090	2,179	2,225	1,612	109	111	289	355	490	483	252	267	14	-70	62	-109	0	0	0
Accounts payable
273	-844	-299	-187	-287	580	-528	-971	59	-286	31	-676	-784	-598	757	1,430	26	1,836	55	0	0	0
Accrued expenses
-10,625	-9,916	-6,000	21,182	-331	11,475	-4,776	-2,692	12,278	39	19,384	20,673	1,217	2,581	-3,256	-1,770	1,287	-2,118	2,612	0	0	0
Deferred revenue
732	2,978	2,008	2,642	3,489	2,931	3,381	7,522	6,268	4,337	6,190	5,292	5,136	3,081	3,181	2,782	2,107	1,832	1,838	0	0	0
Net cash provided by operating activities
-32,009	-25,750	-18,614	42,242	41,647	47,789	30,210	32,227	40,227	23,565	47,509	51,331	42,728	43,931	53,597	51,583	48,935	56,238	44,467	0	0	0
Cash flows from investing activities
Purchases of available for sale investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	1,460	11,230	14,139	17,544	19,586	14,101	0	0	0
Proceeds from maturities of available for sale investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	8,394	12,094	18,728	10,227	700	0	0	0	0
Purchases of fixed assets
1,572	2,260	2,681	3,100	2,522	2,959	3,487	5,056	5,799	6,659	6,761	5,559	6,267	8,752	23,495	41,204	54,156	54,902	40,328	0	0	0
Payments to Acquire Businesses, Gross
-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Additions to internal use software
3,289	3,801	4,478	4,821	5,082	5,384	5,295	4,661	4,513	3,359	2,725	3,030	2,451	2,674	2,854	3,440	2,748	2,190	1,379	0	0	0
Deposits to Restricted Cash
-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Proceeds from development related subsidies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Payment to escrow agent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,250	0	0	0
Amount Received from Restricted Cash
-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-
Proceeds from development related subsidies
-	-	-	-	-	-	-	-	-	0	-	0	0	0	330	7,455	7,455	7,455	7,125	0	0	0
Net cash provided by (used in) investing activities
66,083	46,251	45,153	-7,921	-4,023	-4,762	-1,708	-6,499	-11,925	-56,881	-59,842	-54,724	-79,712	-29,388	-50,051	-67,248	-54,404	-61,776	-43,011	0	0	0
Cash flows from financing activities
Proceeds from line of credit
-	-	-	-	-	-	15,000	15,000	15,000	64,000	52,000	102,000	132,000	83,000	80,000	0	0	0	-	-	-	-
Repayments of line of credit
10,000	0	35,000	35,000	35,000	35,000	10,000	21,000	33,000	33,000	43,000	32,000	20,000	20,000	0	0	0	0	-	-	-	-
Payment of deferred financing costs
692	534	4,990	4,467	4,467	4,456	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit related to stock options
-	0	-	-	-	61	49	765	796	1,369	1,514	2,655	3,646	3,383	4,655	6,315	8,659	9,828	8,793	0	0	0
Proceeds from exercise of stock options
47	145	356	364	394	399	203	373	389	1,098	1,303	0	0	0	-	0	0	0	-	0	0	0
Purchases of common stock
-	-	-	-	-	-	-	-	-	0	5,996	0	0	0	-	39,564	39,013	33,106	16,208	0	0	0
Net cash used in financing activities
-10,753	-386	-39,620	-38,981	-38,923	-38,996	5,252	-5,113	-17,066	33,216	5,570	-11,821	18,358	-37,310	-29,600	9,267	-19,555	-12,476	3,145	0	0	0
Effect of exchange rate changes on cash
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
23,248	20,042	-13,154	-4,660	-1,299	4,031	33,754	20,615	11,236	-100	-6,763	-15,214	-18,626	-22,767	-26,054	-6,398	-25,024	-18,014	4,601	0	0	0