| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||||
Net income | ||||||||||
33,712 | 23,872 | 351 | 4,963 | 4,639 | 2,704 | 1,051 | 1,222 | 13,703 | 2,884 | 1,162 |
Reconciliation of net income to net cash provided by operating activities | ||||||||||
Deferred income taxes | ||||||||||
7,581 | 2,798 | 9,616 | -2,083 | -38 | 1,031 | 443 | -15 | -12,708 | - | 28 |
Change in earn-out liability | ||||||||||
-445 | 94 | - | -1,103 | - | - | - | - | - | - | - |
Depreciation and amortization of property and equipment | ||||||||||
11,100 | 8,600 | 7,200 | 6,598 | 6,265 | 5,714 | 4,893 | 3,151 | 2,004 | 1,533 | 1,445 |
Amortization of intangible assets | ||||||||||
5,315 | 4,093 | 4,574 | 4,738 | 3,307 | 2,856 | 3,158 | 1,767 | 643 | 0 | 0 |
Provision for credit losses | ||||||||||
3,499 | 2,592 | 1,705 | 1,375 | 1,271 | 717 | 479 | 383 | 425 | 274 | 439 |
Stock-based compensation | ||||||||||
14,690 | 12,510 | 12,728 | 8,023 | 6,379 | 5,396 | 4,203 | 2,755 | 1,768 | 750 | 228 |
Change in carrying value of preferred stock warrants | ||||||||||
- | - | - | - | - | - | - | - | - | 27 | 381 |
Other, net | ||||||||||
574 | 364 | 15 | - | - | - | - | - | - | -1 | -10 |
Changes in assets and liabilities | ||||||||||
Accounts receivable | ||||||||||
6,771 | 4,569 | 5,586 | 3,735 | 3,517 | 3,890 | 1,150 | 2,067 | 2,810 | 1,081 | 641 |
Deferred costs | ||||||||||
1,441 | 5,564 | 7,813 | 4,085 | 3,023 | 4,590 | 2,184 | 2,290 | 1,595 | 919 | 98 |
Other current and non-current assets | ||||||||||
2,768 | 3,333 | -393 | 1,911 | 2,037 | 719 | - | - | 10 | 17 | 6 |
Other current assets | ||||||||||
- | - | - | - | - | - | -2,593 | 3,534 | - | - | - |
Other non-current assets | ||||||||||
- | - | - | - | - | - | -28 | 42 | - | - | - |
Prepaid expenses and other current assets | ||||||||||
- | - | - | - | - | - | - | - | 882 | -567 | 655 |
Accounts payable | ||||||||||
-489 | 937 | 832 | -382 | -1,569 | 1,271 | -59 | 446 | 413 | -347 | 541 |
Accrued compensation | ||||||||||
319 | 3,957 | 1,304 | 2,291 | 1,295 | 1,568 | 1,943 | 920 | 1,541 | 572 | 1,121 |
Accrued expenses | ||||||||||
706 | -135 | 1,192 | 990 | -461 | 1,365 | -108 | 101 | 140 | -480 | 359 |
Deferred revenue | ||||||||||
6,366 | 7,094 | 5,588 | 2,852 | 587 | 2,440 | 1,309 | 2,551 | 1,853 | 1,155 | 844 |
Deferred rent | ||||||||||
- | 2,440 | -1,027 | 234 | 1,331 | 925 | 1,644 | 1,481 | - | - | - |
Operating leases | ||||||||||
971 | - | - | - | - | - | - | - | - | - | - |
Net cash provided by operating activities | ||||||||||
71,794 | 55,015 | 31,050 | 18,765 | 14,429 | 16,788 | 18,243 | 6,829 | 4,485 | 4,919 | 5,158 |
Cash flows from investing activities | ||||||||||
Purchases of property and equipment | ||||||||||
13,585 | 13,750 | 7,271 | 8,008 | 8,757 | 7,582 | 5,701 | 5,983 | 2,584 | 1,772 | 1,000 |
Purchases of investments | ||||||||||
73,700 | 81,666 | 47,878 | 23,135 | 22,527 | - | - | - | - | - | - |
Maturities of investments | ||||||||||
84,472 | 82,224 | 33,029 | 15,018 | - | - | - | - | - | - | - |
Acquisition of business and intangible assets, net | ||||||||||
11,500 | 27,273 | 500 | 18,032 | - | - | - | - | - | - | - |
Net cash used in investing activities | ||||||||||
-14,313 | -40,465 | -22,620 | -34,157 | -31,284 | -20,177 | -5,701 | -32,245 | -13,425 | -1,772 | -1,000 |
Cash flows from financing activities | ||||||||||
Business acquistions, net of cash acquired | ||||||||||
- | - | - | - | - | 12,595 | - | 26,262 | 10,841 | - | 0 |
Repurchases of common stock | ||||||||||
20,618 | 19,864 | 5,815 | - | - | - | - | - | - | - | - |
Payments on term loan | ||||||||||
- | - | - | - | - | - | - | - | - | - | 679 |
Payments of capital lease obligations | ||||||||||
- | - | - | - | - | - | - | 410 | 122 | 338 | 534 |
Borrowings on line of credit | ||||||||||
- | - | - | - | - | - | - | 11,000 | - | 4,450 | 16,325 |
Payments on line of credit | ||||||||||
- | - | - | - | - | - | - | 11,000 | - | 5,950 | 16,125 |
Payments on equipment loans | ||||||||||
- | - | - | - | - | - | - | - | - | 732 | 730 |
Net proceeds from initial public offering | ||||||||||
- | - | - | - | - | - | - | - | - | 32,902 | 0 |
Net proceeds from stock offerings | ||||||||||
- | - | - | - | - | - | 47,738 | 57,940 | - | 1,020 | 0 |
Stock offering costs | ||||||||||
- | - | - | - | - | - | 169 | 132 | 108 | - | 0 |
Net proceeds from exercise of options to purchase common stock | ||||||||||
6,207 | 14,344 | 1,410 | 4,303 | 4,440 | 1,886 | 3,735 | 1,563 | 621 | 43 | 2 |
Excess tax benefit from exercise of options to purchase common stock | ||||||||||
- | - | - | 4,070 | 2,336 | 261 | 156 | 72 | 61 | - | 0 |
Net proceeds from employee stock purchase plan | ||||||||||
2,269 | 1,745 | 1,933 | 1,732 | 1,478 | 1,338 | 1,242 | 448 | - | - | - |
Purchase of preferred and common stock | ||||||||||
- | - | - | - | - | - | - | - | - | - | 201 |
Net cash used in financing activities | ||||||||||
-12,142 | -3,775 | -2,472 | 10,105 | 8,254 | 3,485 | 52,702 | 59,481 | 452 | 31,395 | -1,942 |
Effect of foreign currency exchange rate changes | ||||||||||
54 | -43 | 1,292 | -374 | -656 | -595 | - | - | - | - | - |
Net increase in cash and cash equivalents | ||||||||||
45,393 | 10,732 | 7,250 | -5,661 | -9,257 | -499 | 65,244 | 34,065 | -8,488 | 34,542 | 2,216 |
Supplemental disclosure of cash flow information | ||||||||||
Cash paid for income taxes, net | ||||||||||
1,545 | 1,534 | 1,068 | 722 | 114 | 113 | 55 | 47 | 126 | 95 | - |
Cash paid for interest | ||||||||||
- | - | - | - | - | - | - | 27 | 3 | 62 | 285 |
Non-cash financing activities: | ||||||||||
Net purchases of property and equipment on account | ||||||||||
322 | 405 | 1,335 | - | - | - | - | - | - | - | - |
Common stock issued for business acquisitions | ||||||||||
- | 3,371 | - | 2,922 | - | 2,203 | - | 11,396 | - | - | - |