RigNet, Inc. RNET Cash Flow

Rignet, inc. (RNET)

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	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net loss
-33,604	-18,786	-68,040	-70,568	-68,741	-62,314	-18,430	-19,825	-19,736	-16,197	-14,116	-11,371	-12,017	-11,297	-18,530	-27,961	-16,985	-16,660	-3,704	13,105	12,733	15,983	19,433	15,910	15,077	16,544	14,590	15,356	13,302	12,021	10,581	12,883	12,223	9,752	0	0	0
Adjustments to reconcile net loss to net cash provided by operations:
Depreciation and amortization
29,148	31,129	32,161	33,402	34,079	33,154	32,734	32,320	31,516	30,845	30,862	31,168	32,629	33,556	33,631	33,420	32,618	32,471	32,256	31,692	30,761	29,462	26,988	24,908	22,877	21,049	20,631	20,018	18,575	17,534	16,326	15,206	15,000	14,584	0	0	0
Impairment of goodwill
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
8,017	8,621	7,476	7,058	6,725	4,712	5,122	5,043	5,322	3,703	3,630	3,489	3,501	3,389	3,413	3,520	3,425	3,660	3,557	3,891	4,053	4,252	4,387	3,776	3,294	2,963	2,854	2,750	2,738	2,502	2,667	2,396	1,992	1,534	0	0	0
Amortization of deferred financing costs
384	352	295	235	194	184	166	168	170	217	195	201	194	135	174	169	166	171	175	188	189	197	554	592	539	525	166	104	124	102	158	63	74	95	0	0	0
Deferred taxes
1,548	4,643	-244	-491	-3,243	-5,263	4,071	3,909	3,929	3,917	-640	-129	-1,520	-1,830	-3,037	-3,824	-2,114	-1,995	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of earn-out/contingent consideration
-	-	-	-	-	3,543	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion of discount of contingent consideration payable for acquisitions
-381	-341	-344	-346	-382	-450	-575	-639	-663	-624	-537	-536	-480	-498	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-7,887	-1,521	-2,507	-1,383	2,568	-3,204	-2,201	-3,046	0	0	0
(Gain) loss on sales of property, plant and equipment, net of retirements
4,203	4,240	-316	-374	-377	-331	-34	27	35	-55	-66	-47	100	153	182	178	45	41	58	-26	-17	44	110	91	48	-66	-177	6	40	131	195	106	209	165	0	0	0
Changes in operating assets and liabilities, net of effect of acquisition:
Accounts receivable, net
-9,427	-160	-5,169	3,284	15,776	15,254	15,103	14,032	7,917	-203	-7,727	-6,448	-21,895	-18,347	-14,048	-21,590	-4,550	-10,868	-11,263	-6,752	11,277	15,054	16,853	16,720	3,572	5,507	2,440	10,326	3,433	877	11,321	5,956	8,431	10,297	0	0	0
Costs and estimated earnings in excess of billings on uncompleted contracts (CIEB)
10,343	5,904	7,544	5,317	3,184	4,103	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs and estimated earnings in excess of billings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	0	0	-242	-	-11,490	-13,034	-8,335	-3,803	-1,199	-4,390	-5,917	-6,631	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other assets
-2,283	-2,155	-736	-1,125	-71	1,026	689	-1,593	-3,615	-4,659	-9,033	-4,028	-3,270	-392	4,806	3,335	2,427	769	5,464	16,580	11,360	4,908	-8,188	-17,119	-10,923	-2,307	5,628	612	-426	-1,133	-586	1,876	2,871	312	0	0	0
Right-of-use lease asset
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
734	7,481	8,896	10,951	12,584	7,527	5,022	6,897	-672	2,733	2,301	2,882	4,135	129	-2,275	-5,174	-584	-4,916	-6,105	1,816	-12,725	-7,643	-1,838	-13,009	-323	1,413	9	1,823	-701	-339	-2,553	329	2,441	449	0	0	0
Accrued expenses
1,779	594	1,899	1,653	2,854	279	284	1,687	2,957	3,601	-1,105	-3,661	-6,527	-8,579	3,839	2,583	-2,828	-1,404	-11,208	-4,649	6,293	11,260	11,842	10,422	5,690	3,240	7,970	3,757	3,362	2,537	-1,735	-573	-1,082	778	0	0	0
Deferred revenue and other assets
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	0	-469	-	-877	-1,423	2,013	-1,549	-1,245	-623	-3,671	-3,383	-3,413	-6,755	-6,736	-4,302	-3,460	-243	177	369	0	0	0
Right-of-use lease liability
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-1,104	-136	-5,786	-5,226	-6,801	-5,149	-3,639	-4,752	-9,530	-9,867	-6,347	-5,646	1,837	2,241	-6,353	-5,141	-4,943	-2,334	7,042	7,313	7,824	5,121	1,392	902	839	1,254	3,120	3,346	3,295	3,458	5,398	2,442	2,308	2,851	0	0	0
Net cash (used in) provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	46,090	-	32,743	42,039	33,102	37,034	41,393	47,158	34,532	43,763	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
-21,381	-20,284	-19,624	-24,913	14,813	7,673	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	19,020	21,361	19,421	16,592	0	0	0
Cash flows from investing activities:
Acquisitions (net of cash acquired)
-	-	-	-	-	5,208	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	26,483	23,260	23,260	23,260	85	0	0	0	-	-	-	-	-	-	-	-
Acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures
22,897	22,374	28,057	29,239	29,787	30,072	23,889	24,463	19,447	18,284	15,675	10,733	13,429	13,641	23,529	29,361	30,174	34,262	30,598	38,751	39,027	40,173	39,593	30,787	33,998	30,187	27,309	26,341	20,368	21,864	20,932	20,752	23,309	19,220	0	0	0
Proceeds from sales of property, plant and equipment
-	5,831	697	1,024	999	1,082	910	422	609	499	263	258	102	194	354	442	335	280	171	42	115	754	1,089	1,140	1,127	462	114	239	240	355	390	240	368	224	0	0	0
Increase (decrease) in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	888	1,017	-1,050	-657	-502	-582	-690	-568	-818	-727	-607	-966	0	0	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-14,934	-	-28,904	-34,777	-33,630	-33,325	-33,148	-41,350	-41,445	-65,334	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-17,132	-16,543	-27,163	-28,341	-30,794	-34,198	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-63,952	-20,512	-12,941	-8,996	0	0	0
Cash flows from financing activities:
Issuance of common stock upon the exercise of stock options and the vesting of restricted stock
-	5	7	917	958	970	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock net of stock witheld to cover employee taxes on stock-based compensation
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	1,585	1,746	5,239	5,355	4,998	4,929	1,670	1,327	897	720	405	78	4,638	0	0	0
Stock withheld to cover employee taxes on stock-based compensation
594	1,423	1,436	1,430	1,581	1,154	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Subsidiary distributions to non-controlling interest
296	276	275	226	226	157	0	0	0	-	-	-	-	197	197	269	269	314	314	313	313	294	294	263	263	217	277	198	197	184	124	194	195	234	0	0	0
Proceeds from borrowings
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
17,966	19,220	12,694	8,640	5,138	5,129	5,359	6,240	12,136	18,171	23,800	26,783	21,741	16,560	11,564	8,579	8,600	8,623	8,628	8,638	8,649	8,649	6,473	6,749	6,924	7,157	9,576	9,515	9,363	9,164	8,968	8,784	8,784	8,789	0	0	0
Payment of financing fees
721	486	0	0	0	-	-	-	-	-	-	-	-	100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
33,675	28,098	40,616	44,960	11,088	11,855	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	38,198	-8,662	-8,826	-4,310	0	0	0
Net change in cash and cash equivalents
-4,838	-8,729	-6,171	-8,294	-4,893	-14,670	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,762	2,339	2,860	2,894	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-19,628	-	-9,834	-6,811	-7,397	-7,247	-1,097	-1,331	4,662	30,536	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	11,528	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash and cash equivalents including restricted cash:
Changes in foreign currency translation
-186	-62	-315	782	1,645	1,825	2,201	1,081	1,512	945	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosures:
Income taxes paid
5,314	4,970	4,859	5,076	4,075	3,967	3,534	3,219	2,242	2,060	962	1,530	3,455	5,337	8,186	9,221	10,467	9,766	8,854	8,844	9,560	10,596	11,712	11,892	10,055	10,623	11,080	9,476	9,446	7,660	6,800	8,098	6,238	5,763	0	0	0
Interest paid
5,288	5,062	4,625	3,920	3,618	3,264	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest paid - other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,461	0	0	0	-	-	-	-
Interest paid
-	-	-	-	-	-	-	-	-	-	-	-	1,999	-	1,984	1,913	1,877	1,862	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	0
Non-cash investing - capital expenditures accrued
-1,022	2,508	2,384	1,860	3,335	2,123	1,499	257	3,588	1,672	4,178	4,672	1,735	2,046	-1,262	-2,428	171	824	3,247	1,146	4,360	2,396	337	5,778	-323	2,167	3,671	986	3,103	1,508	3,061	2,627	919	2,202	0	0	0
Right-of-use operating lease entered into
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in foreign currency translation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,561	-2,519	-885	-2,570	-3,405	-3,960	-3,707	-2,211	-1,732	1,453	-551	-2,325	-377	1,330	708	3,439	1,918	-1,507	98	-615	0	0	0
Non-cash investing - contingent consideration for acquisitions
-	-	-	-	-	7,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing and financing - stock for acquisitions
-	-	-	-	-	11,436	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing - contingent earn-out liability for Tecnor acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities assumed - acquisitions
-	-	-	-	-	5,610	0	0	0	-	-	-	-	2,408	0	0	0	-	-	-	-	10,969	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,148	4,477	-2,251	8,965	13,200	10,953	12,582	2,403	-3,719	-4,728	1,204	3,199	-6,734	-7,813	-2,346	3,286	0	0	0