Penumbra inc (PEN)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Consolidated net income

888

9,301

11,000

16,249

10,454

6,464

-22,426

13,381

5,491

9,083

238

-1,558

-3,106

-2,396

11,906

3,013

2,291

1,633

901

-2,671

2,502

Adjustments to reconcile consolidated net income to net cash used in operating activities:
Depreciation and amortization

2,959

2,314

2,053

1,933

1,804

1,709

1,511

1,549

1,399

1,201

1,158

768

654

488

663

608

538

525

482

407

338

(Accretion of discount) amortization of premium on marketable investments

-

-

-

-

-

-

-

-

-

-

-65

-137

-299

-264

-288

-256

-189

-83

0

0

0

Stock-based compensation

5,689

5,014

6,241

5,135

5,095

4,871

4,412

4,985

4,154

4,720

4,487

4,593

4,012

3,837

4,263

3,522

3,015

2,145

1,510

3,261

355

Loss on non-marketable equity investments

-

-

-

-

-

0

-920

-1,230

-951

-727

-545

-158

0

-

-

-

-

-

-

-

-

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,257

0

0

Provision for doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11

95

-7

50

-151

Inventory write-downs

1,097

1,625

1,107

1,010

658

654

376

370

300

4

556

184

256

1,477

366

507

317

459

400

304

0

Write off of note receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

0

85

(Release of) provision for sales returns

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

179

44

Loss on disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11

-

0

-12

0

Realized (gain) loss on marketable investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Provision for product warranty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

115

61

Deferred taxes

-1,502

1,719

1,822

-2,799

1,078

-69

1,103

-5,305

-2,209

-4,289

1

1

-1

-

-

-1,536

1,329

-3,204

0

82

-82

Change in fair value of contingent consideration

-

-

-

-

-

98

127

283

442

109

0

0

0

-

-

-

-

-

-

-

-

Other

168

-140

-414

207

396

-96

-393

-1

389

1,008

-181

95

114

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

238

3,509

3,968

4,179

13,373

2,478

6,987

10,188

6,109

9,822

-5,255

2,671

1,880

7,472

2,030

3,715

1,343

3,680

2,443

2,007

2,933

Inventories

15,090

13,547

9,339

11,793

6,728

6,893

11,447

4,156

-208

4,110

7,889

770

6,057

5,719

1,983

2,952

9,083

7,114

6,691

4,264

7,057

Prepaid expenses and other current and non-current assets

1,544

613

-424

3,857

-45

-1,498

672

1,581

-2,986

867

-400

-655

-2,248

-13,852

13,048

5,088

4,759

2,307

-1,053

3,682

-923

Accounts payable

921

2,715

2,908

1,918

-1,503

-359

1,063

3

622

978

580

-596

889

428

-383

-20

1,350

-1,369

953

-1,096

1,644

Accrued expenses and other non-current liabilities

732

-198

9,670

-1,921

6

1,402

11,190

-446

2,084

654

5,094

-346

4,766

-3,024

5,547

-810

4,060

3,388

1,192

3,100

1,609

Net cash provided by (used in) operating activities

-5,920

4,767

22,050

1,903

-2,068

7,531

10,445

124

10,708

-907

10,754

650

2,194

-10,357

5,732

-6,108

-2,074

-8,058

-4,300

-5,669

-2,662

CASH FLOWS FROM INVESTING ACTIVITIES:
Contributions to non-marketable investments

-

-

-

-

-

0

514

516

352

135

56

5,074

0

-

-

-

-

-

-

-

-

Purchases of marketable investments

-

-

-

-

-

11,258

35,474

18,943

42,552

50,341

48,933

45,607

44,777

18,319

17,560

17,936

9,531

131,271

0

1,658

2,411

Proceeds from sales of marketable investments

7,188

2,046

0

1,682

1,018

-2

11,895

236

0

585

0

5,192

22,975

10,493

0

2,004

500

2,838

0

40,911

11,249

Proceeds from maturities of marketable investments

12,980

12,535

27,279

17,500

33,300

24,425

24,818

34,329

43,540

39,224

37,910

20,649

15,020

18,590

17,119

17,212

11,750

0

0

0

0

Purchases of property and equipment

10,131

7,984

7,917

3,745

2,463

3,040

1,458

2,282

2,823

5,727

1,441

2,170

3,194

6,557

3,383

2,580

1,115

967

1,434

1,775

1,298

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Net cash provided by (used in) investing activities

10,037

-43,734

14,281

-15,113

31,855

9,625

-20,647

12,824

-2,187

-16,394

-23,819

-27,464

-9,976

4,207

-3,824

-1,300

1,604

-129,400

-1,434

37,478

7,540

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock upon underwritten public offering, net of issuance cost

-

-

-

-

-

-

-

-

-

2

0

-298

106,563

0

0

0

0

-

-

-

-

Proceeds from exercises of stock options

396

554

1,301

1,194

1,071

770

1,123

1,843

1,328

804

1,619

1,575

1,050

279

1,400

1,364

129

71

31

189

326

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,257

0

0

Payment of employee taxes related to vested stock

2,105

2,416

2,740

11,281

2,098

1,704

2,176

10,315

3,530

1,117

1,379

7,101

2,089

600

178

204

1,642

0

0

2,525

0

Payments of finance lease obligations

1,958

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of acquisition-related obligations

683

-

0

500

683

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of acquisition-related obligations

-

-

-

-

-

-

-

-

4,323

0

0

0

0

-

-

-

-

-

-

-

-

Proceeds from capital contribution from non-controlling interest

-

-

-

-

-

-

6

-196

-219

-

-940

0

0

-

-

-

-

-

-

-

-

Net cash used in financing activities

-4,350

-502

-1,439

-5,308

-1,710

3,168

-1,047

-5,192

-6,744

2,445

-700

-2,910

105,524

2,474

1,222

4,943

-1,513

-2,360

128,168

-3,300

326

Issuance cost not yet paid

-

-

-

-

-

-

-

-

-

-

-

-

295

-

-

-

0

-

-

-

-

Effect of foreign exchange rate changes on cash and cash equivalents

-90

667

-572

173

-321

-216

-714

-856

391

-128

991

-2,968

109

1,056

-1,188

-1,227

42

267

-100

123

-362

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

-323

-38,802

34,320

-18,345

27,756

20,108

-11,963

6,900

2,168

-14,984

-12,774

-32,692

97,851

-2,620

1,942

-3,692

-1,941

-139,551

122,334

28,632

4,842

NONCASH INVESTING AND FINANCING ACTIVITIES:
Common shares issued as consideration in connection with a buyout agreement (Notes 7, 10 and 11)

-

-

-

-

-

0

0

0

5,256

0

0

0

0

-

-

-

-

-

-

-

-

Purchase of property and equipment funded through accounts payable and accrued liabilities

1,702

-22

1,635

430

860

-341

252

699

427

-1,956

2,522

72

339

-755

1,637

226

334

-57

-283

-202

685

Right-of-use assets obtained in exchange for lease obligations

325

-

-

-

94

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-