Quinstreet, inc. (QNST)
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'11Dec'10Sep'10
Cash Flows from Operating Activities
Net income

13,919

1,549

1,132

3,416

941

52,826

5,297

5,421

7,117

1,947

1,445

-1,368

579

-7,850

-3,569

-3,333

-3,265

-6,458

-6,364

-5,028

-3,216

-5,477

-6,287

-98,763

-2,673

-44,029

-939

-1,582

-2,162

-63,491

-137

201

2,873

4,433

5,494

6,446

6,339

6,928

7,501

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

2,851

2,854

2,812

2,595

2,361

2,371

1,648

1,790

1,906

1,810

2,261

2,394

2,660

2,950

3,373

3,650

3,721

3,772

3,944

4,089

4,370

4,986

5,422

6,142

6,611

6,668

6,676

6,659

7,208

10,179

8,279

8,493

8,032

7,517

7,108

7,020

7,632

6,723

5,897

Write-off of bank loan upfront fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

481

0

0

328

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for sales returns and doubtful accounts receivable

29

21

129

76

8,842

180

245

144

140

102

139

182

-102

116

95

-54

209

707

-73

84

-412

288

182

320

-181

32

-275

-206

-107

-152

-316

-1,473

1,589

-68

36

108

325

2

-470

Stock-based compensation

1,869

4,700

4,648

4,188

2,950

3,879

3,111

2,565

2,617

2,563

2,437

2,072

2,077

2,142

2,607

2,629

2,816

2,734

2,789

2,473

2,581

2,526

2,275

2,318

2,450

2,626

3,035

3,203

3,014

3,029

2,770

2,905

3,196

3,521

3,374

3,097

3,507

3,616

3,730

Non-cash lease expense

297

342

-176

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

3,569

-427

116

2

-1,982

-50,039

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on sale of domain names

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

44

51

65

0

173

708

2,450

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

51

149

85

213

96

96

10

26

24

51

49

62

35

714

1,432

5,025

287

Other adjustments, net

175

57

212

180

60

515

-145

-192

-644

-272

0

45

-14

9

-156

-

-

-

-

87

61

56

43

146

-388

249

289

181

573

-533

-75

2,074

-601

-632

-243

109

-123

-70

-15

Changes in assets and liabilities:
Accounts receivable

2,232

-4,982

-884

2,762

13,214

-4,876

-2,779

-430

20,489

-76

4,975

1,134

1,887

-3,069

-2,820

-2,336

9,165

-4,609

-453

1,363

3,434

296

-690

286

6,760

-5,216

1,654

-23,928

20,810

-3,868

-8,323

1,327

1,068

-6,499

6,087

-4,371

609

-10,131

10,008

Prepaid expenses and other assets

3,378

-1,265

637

-182

947

-902

682

-1,939

-15

-668

712

-757

487

-1,134

574

-8,416

23

9,445

-5,500

-553

365

-943

1,312

2,851

2,890

1,172

-659

-5,371

-2,588

4,606

9

2,358

1,927

1,487

-3,155

-3,051

-4,601

853

1,852

Deferred taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

488

0

0

8

-1,784

0

0

-2

-3,137

-1,545

-40,371

-22

-

-

-

-

-

-

-

-

-

-

-

-

Other assets, noncurrent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-27

86

-

-

-50

-57

-

30

35

-29

13

34

-147

-20

Accounts payable

5,902

-5,608

2,998

2,014

382

481

1,657

2,109

5,072

-2,106

2,275

4,285

482

-49

676

-2,626

5,066

-1,845

-1,100

-98

-836

2,331

633

-329

1,064

-2,352

2,156

1,398

-1,685

-1,541

-2,754

-1,318

390

-3,935

4,487

-192

1,312

-1,705

6,960

Accrued liabilities

3,211

-11

-2,770

-2,253

6,544

-3,740

-3,919

-4,157

9,103

3,658

-115

122

3,225

-719

-3,783

-2,399

6,890

-2,210

-1,673

-1,652

5,595

-563

-2,886

1,670

4,030

-557

-5,304

192

4,076

276

-5,926

-579

3,461

-2,980

-7,307

-851

6,057

73

-2,727

Deferred revenue

-202

329

78

-87

-44

11

166

160

-175

-104

-292

86

-209

212

-163

297

-336

93

-62

-148

3

107

71

-56

-8

-199

-439

-60

-67

-289

-309

14

237

-154

-339

96

507

370

70

Other liabilities, noncurrent

-35

-115

115

453

555

390

70

412

1,032

-1,047

-139

-142

-138

-131

-119

-118

-117

-112

-98

114

-63

-92

-161

-34

-154

-208

-162

-39

-54

2

342

-2,449

127

387

519

536

531

397

-5

Net cash provided by operating activities

15,156

9,938

9,541

8,638

6,448

12,652

10,227

11,666

5,694

7,295

2,324

10,260

6,186

883

1,207

226

5,752

-8,206

3,243

1,371

4,162

4,101

-3,501

5,416

2,620

6,459

3,882

19,867

9,159

11,268

10,371

3,998

17,432

14,268

10,677

19,594

28,859

20,874

8,844

Cash Flows from Investing Activities
Capital expenditures

373

404

544

779

541

318

334

214

197

75

124

182

374

203

401

170

546

654

489

717

344

144

2,141

776

500

2,989

1,190

215

305

530

291

251

633

631

753

933

1,483

2,045

902

Business acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,436

23,436

999

30,204

115

5,095

52,507

34,121

Other intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

123

2,597

95

-

-

-

-

-

-

-

-

-

-

-

-

Internal software development costs

561

607

507

609

533

598

596

613

472

518

543

451

552

487

695

793

758

655

1,276

914

495

506

427

593

697

547

657

698

556

606

651

633

664

523

559

519

442

496

384

Purchases of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5,995

10,605

14,380

13,154

10,258

12,978

11,065

11,534

13,569

14,862

9,057

15,121

13,076

9,610

-

-

-

-

Proceeds from maturities of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-438

17,525

9,762

13,948

14,475

9,127

12,218

11,120

13,683

12,959

12,149

10,839

16,128

12,602

5,433

-

-

-

-

Proceeds from sale of domain names

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

44

51

40

25

188

458

2,700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities

0

-25

0

150

-36

-25

-145

-193

-644

-224

0

47

25

44

-90

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

1

-2

-28

-

-

0

6

Net cash provided by (used in) investing activities

8,171

-986

-1,051

-12,119

-1,038

-23,047

-785

-634

-25

-14,523

-667

-680

-951

-734

-1,006

-957

-1,262

-1,258

-1,725

-4,706

27,339

11,348

-711

109

1

-8,139

-2,702

-856

1,288

-4,246

-3,655

-4,537

-23,727

-2,625

-35,665

-11,849

-13,537

-73,964

-35,413

Cash Flows from Financing Activities
Net proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

101

5

Proceeds from exercise of common stock options

677

1,326

1,827

2,075

508

3,062

2,144

7,863

2,267

898

0

-

-

-

-

-

-

-

-

0

0

0

1,300

1,070

332

934

993

141

47

33

236

1,172

1,339

370

1,817

4,130

2,966

7,519

2,095

Principal payments on bank debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,750

2,500

2,500

-

2,500

1,250

1,250

1,250

1,250

1,312

1,313

1,313

875

875

900

Payment of bank loan upfront fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

272

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on acquisition-related notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40

0

0

444

354

362

1,714

523

2,280

376

1,904

3,568

1,176

419

558

1,213

3,727

614

3,746

3,365

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

51

149

85

213

96

96

10

26

24

51

49

62

35

714

1,432

5,025

287

Payment of withholding taxes related to release of restricted stock, net of share settlement

1,227

1,828

2,358

1,108

1,365

1,561

5,857

1,372

3,280

1,109

726

253

229

189

347

343

391

425

1,323

253

284

181

445

198

432

289

1,039

-

-

47

101

71

84

78

184

-

-

-

-

Repurchases of common stock

-

-

-

-

-

-

-

0

0

522

125

721

723

1,043

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,157

-

-

-

-

-

-

-

-

Principal payments on term loan facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

65,000

5,000

3,750

3,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-2,388

-3,368

-531

-985

-857

1,501

-3,713

6,491

-1,013

-733

-851

-974

-952

-16,232

-347

-384

-391

-399

-1,323

-50,293

-5,335

-3,931

-3,560

-3,083

-4,127

-3,356

-2,973

-4,596

-3,062

-3,142

-10,816

-8,629

-21,402

-12,558

-858

-196

2,534

32,622

-1,888

Effect of exchange rate changes on cash, cash equivalents and restricted cash

76

23

36

-16

5

-53

90

88

27

0

-10

-13

-35

13

2

23

-47

-47

-3

-4

-6

1

16

-8

2

-12

-29

-10

4

-5

17

-162

1

3

25

57

7

-5

-19

Net increase in cash, cash equivalents and restricted cash

21,015

5,607

7,995

-4,482

4,558

-8,947

5,819

17,611

4,683

-7,961

796

8,593

4,248

-16,070

-144

-1,092

4,052

-9,910

192

-53,632

26,160

11,519

-7,756

2,434

-1,504

-5,048

-1,822

14,405

7,389

3,875

-4,083

-9,330

-27,696

-912

-25,821

7,606

17,863

-20,473

-28,476

Supplemental Disclosure of Cash Flow Information
Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

0

23

134

138

151

127

209

156

637

813

557

1,045

839

936

1,019

968

1,018

1,058

1,554

703

1,005

926

807

1,048

1,292

896

934

1,006

Cash paid for income taxes

193

27

32

85

120

30

99

127

0

28

90

22

300

30

38

134

446

209

74

-535

112

380

280

265

83

1,091

130

205

182

1,594

182

5,079

3,701

4,828

113

3,868

43

7,211

5,763

Supplemental Disclosure of Non-cash Investing and Financing Activities
Purchases of property and equipment included in accrued liabilities

69

23

75

230

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable issued in connection with business acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,835

94

3,006

161

94

261

86

2,870

Retirement of treasury stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,157

-

-

-

-

-

-

-

-