Orbcomm inc. (ORBC)
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'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12
Cash flows from operating activities:
Net loss

-6,837

-2,481

-3,869

-6,386

-5,396

-5,552

-3,222

-7,102

-10,063

-7,485

-39,663

-10,746

-3,301

-3,078

-13,989

-4,082

-2,077

316

1,645

-12,223

-2,737

-5,569

4

1,444

-404

832

999

1,758

1,170

2,143

2,307

1,988

2,465

Adjustments to reconcile net loss to net cash provided by operating activities:
Change in allowance for doubtful accounts

1,301

242

1,289

333

144

431

1,172

942

881

-156

341

-64

-36

164

170

279

-303

509

-79

46

200

77

129

148

73

-68

73

-16

37

31

-50

45

-14

Change in the fair value of acquisition-related contingent consideration

-

0

0

0

2,063

2,541

4,172

-186

1,508

-274

795

-14

495

147

242

71

-100

932

-58

639

93

1,553

-7

23

563

-

-

-

-

20

160

0

-30

Amortization of the fair value adjustment related to StarTrak warranty liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-49

-8

0

0

0

-12

-8

-180

5

19

-110

50

4

9

-

-

-

-

Amortization and write-off of deferred financing fees

194

194

194

194

194

194

194

194

194

194

194

2,489

229

224

228

228

155

116

128

110

110

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

13,364

12,704

12,794

12,526

12,678

13,538

12,081

11,842

12,223

11,218

12,041

11,400

11,022

11,135

11,158

11,551

8,959

7,145

6,331

6,640

6,455

4,386

2,481

2,190

1,799

1,787

1,586

1,370

1,258

1,344

1,290

1,181

1,009

Stock-based compensation

1,679

774

1,663

1,661

2,082

2,163

2,312

1,728

1,707

1,359

1,345

1,445

1,524

1,199

1,219

1,219

1,386

1,406

979

1,104

1,131

983

852

894

881

1,079

674

594

626

584

407

466

344

Foreign exchange (gain) loss

-106

-51

215

-277

256

5

-180

292

-176

67

-146

-246

26

588

-398

267

-351

-6

146

-259

532

35

114

94

-16

-13

38

-46

-11

26

17

2

47

Amortization of premium on marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

17

45

125

159

224

206

176

Increase in fair value of indemnification assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

126

115

78

-75

135

19

50

-78

112

Loss on settlement agreement in connection with the indemnification assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

97

-

-

-

-

-

-

-

-

Deferred income taxes

-20

-116

-651

596

-1,042

356

-791

-1,835

779

-2,805

-22

625

155

-282

-85

420

203

763

333

-703

432

-609

36

234

63

526

28

107

63

-229

105

65

85

Other

580

269

1,003

216

752

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on extinguishment of debt and accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,214

Amortization of transition shared services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

8

57

49

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

-823

-816

3,380

-260

2,852

-450

6,113

6,222

2,155

-7,985

8,849

2,762

6,399

-2,223

-3,369

6,198

1,096

-4,637

4,364

3,174

-10,946

6,809

-2,176

3,140

-891

952

-1,056

535

2,267

-643

264

1,706

288

Inventories

608

1,634

4,645

-1,457

785

-2,723

-7,809

-3,294

5,549

5,029

6,456

5,286

151

1,614

1,287

-1,815

864

3,678

-250

1,521

3,004

-285

4,523

1,019

34

639

-491

-278

-599

244

271

-378

-455

Prepaid expenses and other assets

-2,424

-5,770

751

1,038

1,549

-3,393

1,260

-791

-1,070

6,318

3,042

2,882

-1,768

4,708

-3,848

2,745

969

-21

-591

-290

1,351

-543

125

291

300

-465

300

434

175

76

176

-347

-107

Accounts payable and accrued liabilities

-3,160

-5,867

9,378

-9,857

7,439

-3,383

1,889

-15,458

2,076

3,239

9,452

2,938

-3,461

5,906

-2,313

2,177

-877

5,735

-475

-1,717

-6,538

4,175

1,030

1,248

-1,100

1,108

-577

-104

-1,892

1,115

420

167

-1,511

Deferred revenue

-1,005

-435

-61

-638

351

1,021

1,559

706

-578

-547

-920

43

-229

-792

-1,317

-45

-1,178

-1,008

-924

1,124

-318

-3

47

279

288

-130

-455

-618

171

-30

82

375

181

Other liabilities

-634

-1,004

-2,883

2,316

-679

-404

-54

-106

-435

303

49

-213

-98

97

-556

10

-118

-138

-477

172

130

9

299

-57

146

231

23

-55

66

-77

-70

-71

-20

Net cash (used in) provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

502

-

11,281

4,242

3,664

14,898

3,850

2,516

4,819

-2,682

2,368

1,808

1,708

3,303

3,296

2,507

-352

-

-

-

-

Net cash provided by operating activities

8,207

9,283

9,866

1,917

9,018

12,384

11,584

-11,332

-1,182

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,767

3,426

1,695

Cash flows from investing activities:
Acquisition of businesses, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,497

-330

-299

133,707

0

0

0

28,883

-

-

-

-

-

-

-

4,000

Capital expenditures

4,843

4,833

5,684

6,035

4,515

5,035

5,390

6,150

5,623

5,950

7,197

8,568

5,645

5,905

5,655

7,029

9,835

37,911

9,288

18,647

4,171

3,651

10,215

27,873

3,804

11,311

4,362

9,683

11,940

24,912

3,063

1,482

7,113

Proceeds received from settlement agreement in connection with indemnification assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

691

-

-

-

-

-

-

-

-

Cash held for acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

123,000

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,686

48,762

0

17,894

20,088

14,511

Proceeds from maturities of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

31,900

27,420

19,910

19,380

13,544

23,388

13,420

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-1,025

Net cash (used in) investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-5,645

-

-5,655

-9,679

-9,835

-46,408

-8,958

-18,348

-14,878

-125,651

-10,215

-27,706

-31,996

-13,289

27,596

9,895

-40,792

-

-

-

-

Net cash used in investing activities

-4,843

-4,833

-5,684

-6,035

-4,515

-5,035

-4,740

-6,150

-5,623

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,413

1,818

-11,179

Cash flows from financing activities:
Cash paid for debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100

0

0

842

-

-

-

-

100

20

208

1,059

-

-

-

-

Proceeds received from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

244

39

0

0

62

1,065

599

0

161

-

-

-

-

Purchases of common stock under share repurchase program

2,527

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

78,191

0

0

36,607

-

-

-

-

-

-

-

-

Proceeds from issuance of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

10,000

-

-

-

-

0

0

0

45,000

-

-

-

-

Proceeds from revolving credit facility

15,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payment of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

10,000

-

-

-

-

0

0

0

3,450

63

62

62

63

Purchase of noncontrolling ownership interests in Satcom International Group plc

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

7

192

Repayment of Satcom notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

253

Principal payments of capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24

24

24

28

45

45

45

43

43

42

75

-

-

-

-

Net cash provided by financing activities

12,473

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-28

-1,130

-24

-622

179,550

-45

-70

36,624

922

536

-250

40,577

-203

-201

-297

-508

Effect of exchange rate changes on cash and cash equivalents

17

1

-198

231

-191

-3

23

-351

200

-94

432

61

75

-429

182

86

252

125

0

-108

-192

-206

-231

-25

-20

-78

-26

-6

-268

-623

112

137

-334

Net increase in cash and cash equivalents

15,854

3,354

-3,891

-3,283

4,312

7,872

6,867

10,802

-6,605

-37,082

-12,120

64,077

-5,068

3,750

5,808

-5,693

-5,919

-31,413

-6,238

-15,964

-10,873

51,011

-8,123

-25,993

6,316

-9,142

31,402

12,146

-835

8,699

-3,735

5,084

-10,326

Supplemental disclosures of cash flow information:
Cash paid for:
Interest

-

-

-

-

-

-

-

-

-

9,500

0

1,217

2,194

2,206

2,181

2,202

2,198

2,258

2,239

2,176

2,332

118

1,068

1,069

1,069

1,071

1,072

1,086

1,033

57

75

54

56

Income taxes

2,666

-

-

-

-

-

-

-

-

-

-

-

-

16

-9

-239

138

-

-

-

364

455

167

-31

101

72

445

100

787

84

368

0

753

Supplemental schedule of noncash investing and financing activities:
Noncash investing and financing activities:
Capital expenditures incurred not yet paid

1,065

-

-69

387

467

-

-357

-625

1,314

-

-217

-449

1,391

-

-727

-1,960

3,777

-

1,054

-2,210

3,186

-

2,939

2,483

950

-

6,053

-288

952

-

11,117

-94

581

Capital expenditure milestone payable incurred not yet paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5,070

-

-

-

5,460

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation related to capital expenditures

113

-

81

122

336

-

166

85

159

-

114

112

131

-

88

65

66

-

-51

50

28

-

100

66

61

-

35

26

25

-

-

-

-

Series A convertible preferred stock dividend paid-in-kind

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9

9

-

0

9

10

-

15

15

16

-

17

17

19

Common stock issued as payment for MPUs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

358

-

0

0

213

-

-

-

0

-

-

-

-

Common stock issued as payment for contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,243

-

0

1,633

0

-

-

-

-

Issuance of common stock in connection with the purchase of Satcom's shares from noncontrolling ownership interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,000

AIS satellites accounted for as a capital lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

903

Acquisition-related contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

740

Stock-based compensation included in capital expenditures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25

18

18

Issuance of common stock in connection with the acquisition of LMS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,123

Unpaid debt issuance costs included in accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-404

450

-

-

-

-