Q2 holdings, inc. (QTWO)
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'13
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent

-34,108

-15,666

-18,569

-17,331

-19,311

-11,863

-8,859

-8,627

-6,048

-5,521

-5,782

-7,821

-7,040

-7,513

-9,481

-9,708

-9,652

-8,420

-7,016

-4,982

-4,645

-4,760

-4,625

-4,683

-5,566

-6,499

-5,179

-3,708

-2,489

Adjustments to reconcile net loss to net cash from operating activities:
Amortization of deferred implementation, solution and other costs

3,905

3,964

3,614

4,592

1,464

2,214

1,969

2,047

2,218

1,929

2,012

1,795

1,719

1,847

1,736

1,556

1,636

1,257

1,633

990

1,127

1,237

1,168

1,063

967

804

722

696

615

Depreciation and amortization

13,017

10,729

5,932

5,975

5,821

5,361

3,689

3,874

3,878

3,897

3,822

3,702

3,525

3,264

3,064

2,944

2,927

2,418

1,873

1,353

1,203

961

1,092

1,031

999

900

809

624

638

Amortization of debt issuance costs

459

463

459

295

250

242

241

223

123

0

0

4

24

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount

5,031

5,004

4,920

2,932

2,298

2,276

2,281

1,990

1,099

0

0

0

0

-72

24

24

24

24

24

24

24

24

24

24

24

24

24

20

0

Amortization of premiums on investments

49

-102

59

-267

84

5

19

35

-56

-582

112

82

69

-749

103

119

102

94

117

19

89

-7

24

0

0

-

-

-

-

Stock-based compensation expenses

14,866

11,134

10,336

9,886

9,154

8,948

7,498

7,004

6,095

6,313

5,407

5,022

4,197

3,819

3,359

2,857

2,605

2,490

1,911

1,639

1,322

1,483

1,101

1,068

918

483

412

376

334

Deferred income taxes

414

-12,433

6

-480

133

-1,621

-368

-97

36

-577

-7

117

117

73

69

69

70

85

0

0

0

-

-

-

-

-

-

-

-

Allowance for credit losses

-144

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-199

Allowance for sales credits

14

-31

-27

-38

-76

254

-75

-16

-22

4

33

-44

10

12

14

-19

-24

-1

-44

22

-15

116

0

-36

-15

113

-13

13

-56

Loss on disposal of long-lived assets

-3

-21

-492

226

0

-

-

-

-

-29

0

0

-4

-82

0

-102

0

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable, net

4,537

-5,194

-2,215

7,080

-43

-5,354

-3,800

10,114

3,717

-2,568

723

6,608

-3,802

-4,018

5,657

1,858

-250

-98

1,448

-260

2,232

-1,484

1,038

-231

-3,314

2,214

642

762

-351

Prepaid expenses and other current assets

2,970

-1,100

379

-842

2,385

-3,664

102

-9

1,727

-2,121

1,028

-1,952

2,805

-1,825

-1,822

1,817

2,067

476

-236

-675

585

-613

351

195

695

-29

58

-2,297

2,682

Deferred solution and other costs

6,852

7,136

5,548

3,551

7,313

1,524

1,291

2,472

3,493

1,191

1,266

830

2,066

483

3,388

2,378

851

-20

2,873

1,318

488

1,829

1,867

166

1,467

2,064

608

1,064

275

Deferred implementation costs

4,057

3,868

3,891

4,785

1,752

2,035

2,197

1,580

1,181

1,010

1,480

1,375

1,314

1,292

1,722

1,613

1,449

1,054

1,388

758

918

793

1,213

999

837

605

893

831

826

Contract assets, net

1,919

1,254

759

2,166

1,012

2,037

1,563

1,396

816

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term assets

-2,819

-1,784

-2,237

-928

-1,192

818

316

5

220

137

17

54

28

-156

89

-29

49

138

-187

91

-41

455

119

33

-363

1,643

-492

270

118

Accounts payable

-284

1,198

117

-1,628

1,439

-908

1,470

229

-1,054

1,497

673

-96

1,293

-935

394

-233

1,200

239

-384

571

917

-415

609

-2,074

1,038

1,559

648

282

-1,163

Accrued liabilities

-6,136

5,844

8,944

2,940

-3,010

661

3,603

995

-4,307

603

2,855

929

-8,756

2,800

2,811

4,088

942

2,445

1,785

1,026

-1,200

1,539

706

1,082

-4,725

3,682

468

1,041

332

Deferred revenues

6,794

1,556

6,098

1,893

3,853

918

7,831

-6,545

2,250

-2,123

6,233

3,841

-3,114

-2,726

7,810

483

4,026

2,329

5,030

3,786

2,876

77

4,349

3,837

961

4,043

2,112

3,712

-161

Deferred rent and other long-term liabilities

-2,325

-6,054

915

-1,134

-1,742

-154

-318

-355

-317

-321

825

-296

-285

-285

159

2,708

449

3,609

316

-197

-190

-201

-4

162

193

194

197

261

3,792

Net cash provided by (used in) continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,306

-1,395

2,827

-1,397

Net cash used in discontinued operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-236

Net cash used in operating activities

-15,799

1,895

17,351

-7,793

-10,886

8,455

17,424

-14,181

-7,103

8,129

11,603

408

-10,668

4,783

1,000

-2,576

187

5,021

47

2,975

-2,644

-1,028

-144

384

-4,498

-1,306

-1,395

2,827

-1,633

Cash flows from investing activities:
Purchases of investments

0

0

2,552

15,116

9,662

-41

1,326

74,389

0

2,482

9,489

12,839

2,939

8,136

11,406

9,656

10,962

2,510

2,245

32,693

6,480

5,144

18,072

0

0

-

-

-

-

Maturities of investments

2,500

3,245

1,761

34,108

24,866

17,190

17,159

11,157

2,901

9,388

4,860

7,950

5,709

6,455

13,691

16,180

4,779

3,490

6,585

9,003

1,830

2,230

0

0

0

-

-

-

-

Purchases of property and equipment

4,642

1,370

1,626

5,319

5,545

1,111

1,020

5,758

5,396

936

3,754

2,264

5,361

796

4,808

5,155

3,590

3,558

1,249

1,885

436

1,221

1,347

638

1,830

1,080

2,590

4,927

2,541

Capitalized software development costs

287

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Business combinations and asset acquisitions, net of cash acquired

-

-

-

-

-

130,544

0

0

150

0

0

2,500

1,316

0

0

0

95

8,886

18,583

0

0

-

-

-

-

-

-

-

-

Purchase of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

60

125

63

75

0

0

0

0

-

-

-

-

-

-

-

-

Capitalized software development costs

-

-

-

-

-

-

-

-

-

970

-762

230

532

760

742

627

563

313

0

0

0

-

-

-

-

0

0

0

125

Cash included in distribution of spin-off

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

46

Net cash provided by (used in) investing activities

-2,429

-503,879

-2,417

13,385

9,659

-114,424

14,767

-68,990

-2,645

7,570

-8,591

-11,483

-4,439

-3,297

-3,390

679

-10,506

-11,777

-16,094

-25,459

-5,086

-4,135

-20,132

-638

-1,830

-

-2,590

-4,927

-2,712

Cash flows from financing activities:
Proceeds from issuance of convertible notes, net of issuance costs

-

-

-

-

-

0

-18

-490

223,675

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of convertible notes bond hedge

-

-

-

-

-

0

0

0

41,699

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of warrants

-

-

-

-

-

0

0

0

22,379

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of preferred stock, net of issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

18,995

Proceeds from borrowings on line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

12,500

0

0

6,350

0

Payments on line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,000

4,210

12,500

0

182

2,500

0

Payments on financing obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,790

2,100

1,368

668

2,205

0

-

-

-

-

-

-

-

-

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

74

87

94

94

94

136

142

160

223

223

208

206

161

143

Proceeds from the issuance of common stock, net of issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-8

-470

20,712

-478

32,811

0

-175

12,846

73,615

0

0

0

0

Proceeds from exercise of stock options to purchase common stock

1,194

2,238

3,891

4,994

3,428

2,031

2,868

4,988

2,843

3,122

2,657

2,790

2,990

1,541

1,551

2,184

727

548

1,910

460

1,253

964

45

74

934

96

1

243

95

Net cash provided by financing activities

1,194

2,238

3,327

467,098

3,428

2,031

2,850

4,498

207,198

3,122

2,657

2,790

2,990

1,764

1,487

-836

-1,471

-1,364

21,847

-2,317

33,921

802

-2,290

8,487

74,326

-112

-387

3,932

18,947

Net increase (decrease) in cash, cash equivalents, and restricted cash

-17,034

-499,746

18,261

472,690

2,201

-103,938

35,041

-78,673

197,450

18,821

5,669

-8,285

-12,117

3,250

-903

-2,733

-11,790

-8,120

5,800

-24,801

26,191

-4,361

-22,566

8,233

67,998

-2,498

-4,372

1,832

14,602

Supplemental disclosures of cash flow information:
Cash paid for taxes, net of refund

134

-390

228

161

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

863

1,127

863

0

863

0

810

0

0

0

0

25

43

50

47

70

50

32

75

82

23

212

0

105

102

108

184

33

52

Supplemental disclosure of non-cash investing and financing activities:
Shares acquired to settle the exercise of stock options

264

361

113

250

217

0

299

34

62

258

-1

142

39

153

64

156

3

1

13

0

7

20

0

0

0

-

-

-

-

Equipment acquired under capital lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

869

106

Data center assets acquired under deferred payment arrangements or financing arrangements

3,895

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-