Q2 Holdings, Inc. QTWO Cash Flow

Q2 holdings, inc. (QTWO)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent
-85,674	-70,877	-67,074	-57,364	-48,660	-35,397	-29,055	-25,978	-25,172	-26,164	-28,156	-31,855	-33,742	-36,354	-37,261	-34,796	-30,070	-25,063	-21,403	-19,012	-18,713	-19,634	-21,373	-21,927	-20,952	-17,875	0	0	0
Adjustments to reconcile net loss to net cash from operating activities:
Amortization of deferred implementation, solution and other costs
16,075	13,634	11,884	10,239	7,694	8,448	8,163	8,206	7,954	7,455	7,373	7,097	6,858	6,775	6,185	6,082	5,516	5,007	4,987	4,522	4,595	4,435	4,002	3,556	3,189	2,837	0	0	0
Depreciation and amortization
35,653	28,457	23,089	20,846	18,745	16,802	15,338	15,471	15,299	14,946	14,313	13,555	12,797	12,199	11,353	10,162	8,571	6,847	5,390	4,609	4,287	4,083	4,022	3,739	3,332	2,971	0	0	0
Amortization of debt issuance costs
1,676	1,467	1,246	1,028	956	829	587	346	127	28	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount
17,887	15,154	12,426	9,787	8,845	7,646	5,370	3,089	1,099	0	-72	-48	-24	0	96	96	96	96	96	96	96	96	96	96	92	68	0	0	0
Amortization of premiums on investments
-261	-226	-119	-159	143	3	-584	-491	-444	-319	-486	-495	-458	-425	418	432	332	319	218	125	106	17	0	0	0	-	-	-	-
Stock-based compensation expenses
46,222	40,510	38,324	35,486	32,604	29,545	26,910	24,819	22,837	20,939	18,445	16,397	14,232	12,640	11,311	9,863	8,645	7,362	6,355	5,545	4,974	4,570	3,570	2,881	2,189	1,605	0	0	0
Deferred income taxes
-12,493	-12,774	-1,962	-2,336	-1,953	-2,050	-1,006	-645	-431	-350	300	376	328	281	293	224	155	85	0	0	0	-	-	-	-	-	-	-	-
Allowance for credit losses
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-199	0	0	0
Allowance for sales credits
-82	-172	113	65	87	141	-109	-1	-29	3	11	-8	17	-17	-30	-88	-47	-38	79	123	65	65	62	49	98	57	0	0	0
Loss on disposal of long-lived assets
-290	-287	0	0	0	-	-	-	-	-33	-86	-86	-188	-184	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable, net
4,208	-372	-532	-2,117	917	4,677	7,463	11,986	8,480	961	-489	4,445	-305	3,247	7,167	2,958	840	3,322	1,936	1,526	1,555	-3,991	-293	-689	304	3,267	0	0	0
Prepaid expenses and other current assets
1,407	822	-1,742	-2,019	-1,186	-1,844	-301	625	-1,318	-240	56	-2,794	975	237	2,538	4,124	1,632	150	-939	-352	518	628	1,212	919	-1,573	414	0	0	0
Deferred solution and other costs
23,087	23,548	17,936	13,679	12,600	8,780	8,447	8,422	6,780	5,353	4,645	6,767	8,315	7,100	6,597	6,082	5,022	4,659	6,508	5,502	4,350	5,329	5,564	4,305	5,203	4,011	0	0	0
Deferred implementation costs
16,601	14,296	12,463	10,769	7,564	6,993	5,968	5,251	5,046	5,179	5,461	5,703	5,941	6,076	5,838	5,504	4,649	4,118	3,857	3,682	3,923	3,842	3,654	3,334	3,166	3,155	0	0	0
Contract assets, net
6,098	5,191	5,974	6,778	6,008	5,812	3,775	2,212	816	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term assets
-7,768	-6,141	-3,539	-986	-53	1,359	678	379	428	236	-57	15	-68	-47	247	-29	91	1	318	624	566	244	1,432	821	1,058	1,539	0	0	0
Accounts payable
-597	1,126	-980	373	2,230	-263	2,142	1,345	1,020	3,367	935	656	519	426	1,600	822	1,626	1,343	689	1,682	-963	-842	1,132	1,171	3,527	1,326	0	0	0
Accrued liabilities
11,592	14,718	9,535	4,194	2,249	952	894	146	80	-4,369	-2,172	-2,216	943	10,641	10,286	9,260	6,198	4,056	3,150	2,071	2,127	-1,398	745	507	466	5,523	0	0	0
Deferred revenues
16,341	13,400	12,762	14,495	6,057	4,454	1,413	-185	10,201	4,837	4,234	5,811	2,453	9,593	14,648	11,868	15,171	14,021	11,769	11,088	11,139	9,224	13,190	10,953	10,828	9,706	0	0	0
Deferred rent and other long-term liabilities
-8,598	-8,015	-2,115	-3,348	-2,569	-1,144	-1,311	-168	-109	-77	-41	-707	2,297	3,031	6,925	7,082	4,177	3,538	-272	-592	-233	150	545	746	845	4,444	0	0	0
Net cash provided by (used in) continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,271	0	0	0
Net cash used in discontinued operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-236	0	0	0
Net cash used in operating activities
-4,346	567	7,127	7,200	812	4,595	4,269	-1,552	13,037	9,472	6,126	-4,477	-7,461	3,394	3,632	2,679	8,230	5,399	-650	-841	-3,432	-5,286	-5,564	-6,815	-4,372	-1,507	0	0	0
Cash flows from investing activities:
Purchases of investments
17,668	27,330	27,289	26,063	85,336	75,674	78,197	86,360	24,810	27,749	33,403	35,320	32,137	40,160	34,534	25,373	48,410	43,928	46,562	62,389	29,696	23,216	0	0	0	-	-	-	-
Maturities of investments
41,614	63,980	77,925	93,323	70,372	48,407	40,605	28,306	25,099	27,907	24,974	33,805	42,035	41,105	38,140	31,034	23,857	20,908	19,648	13,063	4,060	2,230	0	0	0	-	-	-	-
Purchases of property and equipment
12,957	13,860	13,601	12,995	13,434	13,285	13,110	15,844	12,350	12,315	12,175	13,229	16,120	14,349	17,111	13,552	10,282	7,128	4,791	4,889	3,642	5,036	4,895	6,138	10,427	11,138	0	0	0
Capitalized software development costs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business combinations and asset acquisitions, net of cash acquired
-	-	-	-	-	130,694	150	150	2,650	3,816	3,816	3,816	1,316	95	8,981	27,564	27,564	27,469	0	0	0	-	-	-	-	-	-	-	-
Purchase of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	323	263	138	75	0	0	0	0	-	-	-	-	-	-	-	-
Capitalized software development costs
-	-	-	-	-	-	-	-	-	970	760	2,264	2,661	2,692	2,245	1,503	876	313	0	0	0	-	-	-	-	125	0	0	0
Cash included in distribution of spin-off
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	46	0	0	0
Net cash provided by (used in) investing activities
-495,340	-483,252	-93,797	-76,613	-158,988	-171,292	-49,298	-72,656	-15,149	-16,943	-27,810	-22,609	-10,447	-16,514	-24,994	-37,698	-63,836	-58,416	-50,774	-54,812	-29,991	-26,735	0	0	0	-	0	0	0
Cash flows from financing activities:
Proceeds from issuance of convertible notes, net of issuance costs
-	-	-	-	-	223,167	223,167	223,185	223,675	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of convertible notes bond hedge
-	-	-	-	-	41,699	41,699	41,699	41,699	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of warrants
-	-	-	-	-	22,379	22,379	22,379	22,379	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of preferred stock, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,995	0	0	0
Proceeds from borrowings on line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,500	12,500	12,500	18,850	6,350	0	0	0
Payments on line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,710	18,710	16,892	15,182	2,682	0	0	0
Payments on financing obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	4,890	6,258	6,926	6,341	4,241	0	0	0	-	-	-	-	-	-	-	-
Payments on capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	161	255	349	369	418	466	532	661	748	814	860	798	718	0	0	0
Proceeds from the issuance of common stock, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-8	-478	20,234	19,756	52,575	53,045	32,158	45,482	86,286	86,286	86,461	73,615	0	0	0	0
Proceeds from exercise of stock options to purchase common stock
12,317	14,551	14,344	13,321	13,315	12,730	13,821	13,610	11,412	11,559	9,978	8,872	8,266	6,003	5,010	5,369	3,645	4,171	4,587	2,722	2,336	2,017	1,149	1,105	1,274	435	0	0	0
Net cash provided by financing activities
473,857	476,091	475,884	475,407	12,807	216,577	217,668	217,475	215,767	11,559	10,201	9,031	5,405	944	-2,184	18,176	16,695	52,087	54,253	30,116	40,920	81,325	80,411	82,314	77,759	22,380	0	0	0
Net increase (decrease) in cash, cash equivalents, and restricted cash
-25,829	-6,594	389,214	405,994	-145,369	49,880	172,639	143,267	213,655	4,088	-11,483	-18,055	-12,503	-12,176	-23,546	-16,843	-38,911	-930	2,829	-25,537	7,497	49,304	51,167	69,361	62,960	9,564	0	0	0
Supplemental disclosures of cash flow information:
Cash paid for taxes, net of refund
133	-1	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest
2,853	2,853	1,726	1,673	1,673	810	810	0	25	68	118	165	210	217	199	227	239	212	392	317	340	419	315	499	427	377	0	0	0
Supplemental disclosure of non-cash investing and financing activities:
Shares acquired to settle the exercise of stock options
988	941	580	766	550	395	653	353	461	438	333	398	412	376	224	173	17	21	40	27	27	20	0	0	0	-	-	-	-
Equipment acquired under capital lease
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	975	0	0	0
Data center assets acquired under deferred payment arrangements or financing arrangements
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-