Onespan inc. (OSPN)
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'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income (loss)

98

5,050

11,872

-2,462

-5,671

3,964

-908

-1,002

1,792

-25,837

2,755

110

573

5,012

478

2,825

2,199

3,441

11,187

13,866

13,657

10,983

11,209

6,893

3,526

3,336

3,369

1,850

2,412

2,155

4,682

7,398

1,994

11,338

5,927

3,339

3,647

Adjustments to reconcile net income (loss) from operations to net cash provided by (used in) operations:
Depreciation and amortization of intangible assets

3,019

2,966

2,845

2,872

2,862

3,072

3,046

3,273

2,747

2,708

2,635

2,625

2,633

2,847

2,655

2,653

2,622

1,943

1,430

1,460

1,469

1,481

1,507

1,602

1,566

1,555

1,536

1,078

873

908

888

909

939

946

579

1,351

933

Loss (gain) on disposal of assets

-88

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax benefit

-306

-1,116

-159

-345

-4

-4,411

-3,007

-4

-9

12,980

1,207

-739

-395

-3,120

910

-2,179

-547

-2,415

309

264

1,151

1,350

115

-104

-869

-4,460

-229

-2,116

687

269

-256

294

758

-4,116

1,169

-926

-459

Stock-based compensation

1,350

1,590

549

677

552

1,057

1,107

1,009

800

1,565

825

532

544

-1,300

1,123

1,396

1,547

1,109

1,049

882

795

559

629

613

598

701

559

573

754

978

500

1,170

1,078

3,910

891

749

567

Changes in operating assets and liabilities:
Accounts receivable, net

1,817

-15,574

10,200

8,867

-79

18,143

998

7,004

-14,185

12,282

5,706

-7,845

-1,715

10,651

-5,610

-4,684

7,749

-11,881

-3,390

8,443

3,968

4,096

6,932

714

-7,082

510

869

-628

-712

-2,617

-4,916

12,326

-9,323

3,933

7,921

1,736

-3,275

Inventories, net

-1,445

842

-1,243

4,979

813

-879

853

2,949

-535

-5,477

-158

-1,148

1,403

-1,019

520

-105

-2,594

-1,285

-8,383

-2,411

-1,178

2,445

5,737

-124

164

-659

812

3,326

3,013

980

605

-2,478

3,534

-774

2,765

2,395

937

Contract assets

564

-729

4,197

-1,545

-2,578

218

-1,390

87

4,195

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Foreign sales tax receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

94

140

83

-366

325

-79

-171

37

-133

-33

-129

430

-627

607

156

-400

-63

174

-814

-897

Other current assets

-

-

-

-

-

-

-

-

-

-

-

-

738

-

-284

-661

337

414

-78

-838

860

-316

-253

-666

85

842

1,968

-319

374

-96

-992

-135

1,146

-142

-394

205

145

Accounts payable

-1,663

-2,267

1,447

-3,349

7,797

3,783

-3,063

1,165

-3,360

1,795

-2,060

759

-1,507

2,295

-1,241

-674

-217

-405

-1,663

-4,030

-547

2,058

-1,519

3,756

236

261

-292

-574

-855

2,616

536

-3,321

576

2,473

-1,836

-1,710

-496

Income taxes payable

-4,707

2,905

3,406

-2,502

-3,491

5,892

-2,487

-2,934

-3,012

14,015

651

174

-2,914

69

-1,961

2,227

-917

1,860

863

-170

393

-1,097

632

-1,335

-263

270

2,384

1,343

-356

335

5

66

-1,995

-685

-258

218

612

Accrued expenses

-2,104

1,065

1,918

1,291

-5,560

3,122

-564

474

-821

418

2,531

-1,700

1,265

886

71

331

-1,284

678

1,596

285

-1,208

-258

1,136

1,874

592

-530

-535

496

1,134

-189

-427

-101

510

-1,978

326

2,221

869

Deferred compensation

418

-287

285

-206

-126

250

528

189

-1,258

579

250

-1,149

243

714

456

429

-1,373

432

509

477

-721

280

351

169

-109

-76

45

31

-2,424

-108

3

-1,525

-303

0

0

0

0

Deferred revenue

4,166

3,783

-560

-1,303

-455

9,943

-3,873

44

3,424

1,611

411

-9

1,691

6,375

2,132

-722

6,611

1,614

1,018

-218

582

-89

1,249

2,023

-746

3,085

1,634

768

1,300

453

-75

-313

-602

763

-333

-1,019

2,758

Other assets and liabilities

1,775

-2,687

-682

1,428

1,485

-1,241

-1,123

2,497

1,102

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

42

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities

-2,352

31,906

9,131

-19,056

-3,737

10,431

-8,559

-10,372

9,726

2,578

3,083

10,259

1,707

3,529

9,994

11,743

3,149

20,957

28,009

7,539

12,287

8,717

2,972

15,738

11,327

3,857

4,855

1,199

420

9,777

10,550

-5,290

7,998

9,697

-4,001

701

11,521

Cash flows from investing activities:
Purchase of short term investments

6,642

9,176

11,834

8,354

4,475

-

-

-

-

9,927

69,272

29,833

69,626

24,919

89,675

50,161

19,935

34,940

0

34,936

39,871

29,940

34,944

29,972

0

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of short term investments

6,500

10,149

11,750

7,500

2,000

0

0

40,000

40,000

40,000

60,000

20,000

75,000

40,122

79,777

4,858

10,018

29,957

34,921

34,916

29,931

9,924

19,992

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Additions to property and equipment

1,516

3,257

3,207

813

176

275

394

720

2,296

1,765

607

474

242

39

211

547

1,246

448

187

407

320

241

248

612

352

464

207

144

129

499

314

279

245

390

115

333

294

Additions to intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14

26

38

11

0

24

37

51

108

98

21

67

93

110

63

60

46

-313

0

7,554

Other

13

-

-

-

-

-

-

-

-

-6

422

35

5

-

-

50

33

-6

-15

12

6

-14

-17

1,325

1

40

14

-38

-283

17

50

-170

-14

-82

-111

55

202

Net cash provided by (used in) investing activities

-1,671

-2,284

-3,291

-1,667

-2,651

-23,331

-394

-13,785

37,704

28,314

-10,301

-10,342

5,127

14,806

-14,194

-45,912

-11,196

-79,925

34,723

-477

-10,277

-20,243

-15,207

-31,946

-404

-612

-319

-19,622

87

-609

-474

-172

-291

-354

309

-1,689

-8,050

Cash flows from financing activities:
Proceeds from exercise of stock options, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

51

95

0

13

6

251

93

0

97

113

23

3

14

Tax payments for restricted stock issuances

293

175

128

48

218

571

166

54

179

383

58

45

154

51

0

579

421

0

0

0

837

0

0

0

123

262

0

43

693

-

-

-

-

-

-

-

-

Tax benefit of stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-112

0

20

410

0

132

86

35

3,318

0

0

0

-

-

-

-

-

-

-

-

Cash flows from discontinued operations:
Net cash provided by (used in) operating activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6

-63

0

2,920

-2

-16

-38

263

-96

-309

-164

-207

-147

-284

-336

-765

-242

-465

162

Net cash used in investing activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

170

-241

-5,690

Net cash provided by (used in) discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6

-63

0

2,920

-2

-16

-38

263

-96

-309

-164

-207

-147

-284

-336

-765

-72

-706

-5,528

Net cash used in financing activities

-293

-175

-128

-48

-218

-571

-166

-54

-179

-383

-58

-45

-154

-51

0

-579

-421

-6,037

0

20

-427

0

132

86

-37

3,151

0

-30

-687

251

93

0

97

113

23

3

14

Effect of exchange rate changes on cash

-342

-54

51

-10

-195

-909

-378

-841

572

-1,109

135

252

253

-396

80

4

267

-544

-834

884

183

62

-252

-12

37

-173

2,031

-232

-1,481

1,115

974

-2,486

1,412

-1,688

-3,396

300

2,532

Net decrease in cash

-4,658

29,393

5,763

-20,781

-6,801

-14,380

-9,497

-25,052

47,823

29,400

-7,141

124

6,933

17,888

-4,120

-34,744

-8,201

-65,480

61,892

7,903

1,766

-8,544

-12,357

-16,150

10,885

6,486

6,472

-18,995

-1,825

10,328

10,996

-8,232

8,880

7,003

-7,136

-1,392

489