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

-19,573

-18,132

-21,203

-20,556

-21,272

-25,939

-27,872

-64,313

-67,957

-61,195

-56,788

-31,114

-24,450

-23,226

-19,832

-4,198

-12,339

-12,999

-18,884

-20,525

-6,858

-4,525

1,876

2,871

3,185

4,759

6,070

7,378

7,608

8,903

0

0

0

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

3,165

2,008

2,197

2,080

2,689

3,426

2,839

2,008

1,002

85

405

234

577

310

655

406

173

676

244

452

554

427

282

226

62

26

125

2

63

12

0

0

0

Change in the fair value of acquisition-related contingent consideration

-

2,063

4,604

8,776

8,590

8,035

5,220

1,843

2,015

1,002

1,423

870

955

360

1,145

845

1,413

1,606

2,227

2,278

1,662

2,132

0

0

0

-

-

-

-

150

0

0

0

Amortization of the fair value adjustment related to StarTrak warranty liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-57

-57

-57

-8

-12

-20

-200

-195

-164

-266

-36

-37

-47

0

0

0

-

-

-

-

Amortization and write-off of deferred financing fees

776

776

776

776

776

776

776

776

3,071

3,106

3,136

3,170

909

835

727

627

509

464

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

51,388

50,702

51,536

50,823

50,139

49,684

47,364

47,324

46,882

45,681

45,598

44,715

44,866

42,803

38,813

33,986

29,075

26,571

23,812

19,962

15,512

10,856

8,257

7,362

6,542

6,001

5,558

5,262

5,073

4,824

0

0

0

Stock-based compensation

5,777

6,180

7,569

8,218

8,285

7,910

7,106

6,139

5,856

5,673

5,513

5,387

5,161

5,023

5,230

4,990

4,875

4,620

4,197

4,070

3,860

3,610

3,706

3,528

3,228

2,973

2,478

2,211

2,083

1,801

0

0

0

Foreign exchange (gain) loss

-219

143

199

-196

373

-59

3

37

-501

-299

222

-30

483

106

-488

56

-470

413

454

422

775

227

179

103

-37

-32

7

-14

34

92

0

0

0

Amortization of premium on marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

187

346

553

714

765

0

0

0

Increase in fair value of indemnification assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

126

241

319

244

253

157

129

126

103

0

0

0

Loss on settlement agreement in connection with the indemnification assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

97

0

0

0

-

-

-

-

-

-

-

-

Deferred income taxes

-191

-1,213

-741

-881

-3,312

-1,491

-4,652

-3,883

-1,423

-2,047

476

413

208

256

1,301

1,719

596

825

-547

-844

93

-276

859

851

724

724

-31

46

4

26

0

0

0

Other

2,068

2,240

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on extinguishment of debt and accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,214

0

0

0

Amortization of transition shared services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

114

0

0

0

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

1,481

5,156

5,522

8,255

14,737

14,040

6,505

9,241

5,781

10,025

15,787

3,569

7,005

1,702

-712

7,021

3,997

-8,045

3,401

-3,139

-3,173

6,882

1,025

2,145

-460

2,698

1,103

2,423

3,594

1,615

0

0

0

Inventories

5,430

5,607

1,250

-11,204

-13,041

-8,277

-525

13,740

22,320

16,922

13,507

8,338

1,237

1,950

4,014

2,477

5,813

7,953

3,990

8,763

8,261

5,291

6,215

1,201

-96

-729

-1,124

-362

-462

-318

0

0

0

Prepaid expenses and other assets

-6,405

-2,432

-55

454

-1,375

-3,994

5,717

7,499

11,172

10,474

8,864

1,974

1,837

4,574

-155

3,102

67

449

-73

643

1,224

173

251

426

569

444

985

861

80

-202

0

0

0

Accounts payable and accrued liabilities

-9,506

1,093

3,577

-3,912

-9,513

-14,876

-8,254

-691

17,705

12,168

14,835

3,070

2,309

4,893

4,722

6,560

2,666

-2,995

-4,555

-3,050

-85

5,353

2,286

679

-673

-1,465

-1,458

-461

-190

191

0

0

0

Deferred revenue

-2,139

-783

673

2,293

3,637

2,708

1,140

-1,339

-2,002

-1,653

-1,898

-2,295

-2,383

-3,332

-3,548

-3,155

-1,986

-1,126

-121

850

5

611

484

-18

-915

-1,032

-932

-395

598

608

0

0

0

Other liabilities

-2,205

-2,250

-1,650

1,179

-1,243

-999

-292

-189

-296

41

-165

-770

-547

-567

-802

-723

-561

-313

-166

610

381

397

619

343

345

265

-43

-136

-152

-238

0

0

0

Net cash (used in) provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

25,764

-

34,085

26,654

24,928

26,083

8,503

7,021

6,313

3,202

9,187

10,115

10,814

8,754

0

0

0

-

-

-

-

Net cash provided by operating activities

29,273

30,084

33,185

34,903

21,654

11,454

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

141,575

133,078

133,408

133,707

28,883

0

0

0

-

-

-

-

-

-

-

0

Capital expenditures

21,395

21,067

21,269

20,975

21,090

22,198

23,113

24,920

27,338

27,360

27,315

25,773

24,234

28,424

60,430

64,063

75,681

70,017

35,757

36,684

45,910

45,543

53,203

47,350

29,160

37,296

50,897

49,598

41,397

36,570

0

0

0

Proceeds received from settlement agreement in connection with indemnification assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

691

0

0

0

-

-

-

-

-

-

-

-

Cash held for acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51,448

51,448

69,342

86,744

52,493

0

0

0

Proceeds from maturities of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

79,230

98,610

80,254

76,222

69,732

0

0

0

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,025

0

0

0

Net cash (used in) investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-26,884

-

-71,577

-74,880

-83,549

-88,592

-167,835

-169,092

-178,450

-195,568

-83,206

-45,395

-7,794

-16,590

0

0

0

-

-

-

-

Net cash used in investing activities

-21,395

-21,067

-21,269

-20,325

-20,440

-21,548

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

942

0

0

0

-

-

-

-

1,387

0

0

0

-

-

-

-

Proceeds received from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

244

283

283

283

101

1,127

1,726

1,726

1,825

0

0

0

-

-

-

-

Purchases of common stock under share repurchase program

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

114,798

0

0

0

-

-

-

-

-

-

-

-

Proceeds from issuance of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,000

0

0

0

-

-

-

-

45,000

0

0

0

-

-

-

-

Proceeds from revolving credit facility

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payment of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,000

0

0

0

-

-

-

-

3,450

3,513

3,575

3,637

250

0

0

0

Purchase of noncontrolling ownership interests in Satcom International Group plc

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

199

0

0

0

Repayment of Satcom notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

253

0

0

0

Principal payments of capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100

121

142

163

178

176

173

203

0

0

0

-

-

-

-

Net cash provided by financing activities

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,804

177,774

178,859

178,813

216,059

37,431

38,012

37,832

41,785

40,660

39,923

39,876

-1,209

0

0

0

Effect of exchange rate changes on cash and cash equivalents

51

-157

-161

60

-522

-131

-222

187

599

474

139

-111

-86

91

645

463

269

-175

-506

-737

-654

-482

-354

-149

-130

-378

-923

-785

-642

-708

0

0

0

Net increase in cash and cash equivalents

12,034

492

5,010

15,768

29,853

18,936

-26,018

-45,005

8,270

9,807

50,639

68,567

-1,203

-2,054

-37,217

-49,263

-59,534

-64,488

17,936

16,051

6,022

23,211

-36,942

2,583

40,722

33,571

51,412

16,275

9,213

-278

0

0

0

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

-

-

-

-

-

-

-

-

-

12,911

5,617

7,798

8,783

8,787

8,839

8,897

8,871

9,005

6,865

5,694

4,587

3,324

4,277

4,281

4,298

4,262

3,248

2,251

1,219

242

0

0

0

Income taxes

0

-

-

-

-

-

-

-

-

-

-

-

-

-94

0

0

0

-

-

-

955

692

309

587

718

1,404

1,416

1,339

1,239

1,205

0

0

0

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

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Capital expenditure milestone payable incurred not yet paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation related to capital expenditures

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

Series A convertible preferred stock dividend paid-in-kind

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Common stock issued as payment for MPUs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

0

-

-

-

-

Common stock issued as payment for contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

AIS satellites accounted for as a capital lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Acquisition-related contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Stock-based compensation included in capital expenditures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Issuance of common stock in connection with the acquisition of LMS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Unpaid debt issuance costs included in accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-