Sequans Communications (SQNS) annual cash flow statement covering fiscal 2015 through 2017, as reported to the SEC. This statement has 37 line items across 3 periods.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'17 | Dec'16 | Dec'15 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities: | ||||||||||||||||||
Profit (Loss) before income taxes | ||||||||||||||||||
-25,860 | -24,503 | -27,085 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Profit (Loss) before income taxes | -25,860 | -24,503 | -27,085 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash adjustment to reconcile income (loss) before tax to net cash used in operating activities: | ||||||||||||||||||
Amortization and impairment of property, plant and equipment | ||||||||||||||||||
2,760 | 3,080 | 3,408 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization and impairment of property, plant and equipment | 2,760 | 3,080 | 3,408 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization and impairment of intangible assets | ||||||||||||||||||
2,815 | 2,215 | 1,867 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization and impairment of intangible assets | 2,815 | 2,215 | 1,867 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Share-based payment expense | ||||||||||||||||||
1,638 | 1,122 | 867 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Share-based payment expense | 1,638 | 1,122 | 867 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Increase (Decrease) in provisions | ||||||||||||||||||
165 | -240 | 152 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Increase (Decrease) in provisions | 165 | -240 | 152 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest expense, net | ||||||||||||||||||
4,612 | 3,686 | 1,516 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest expense, net | 4,612 | 3,686 | 1,516 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Convertible debt amendments | ||||||||||||||||||
322 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Convertible debt amendments | 322 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in fair value of convertible debt embedded derivative | ||||||||||||||||||
- | -1,583 | -2,036 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in fair value of convertible debt embedded derivative | - | -1,583 | -2,036 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other financial expenses | ||||||||||||||||||
- | 83 | 145 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other financial expenses | - | 83 | 145 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Foreign exchange loss (gain) | ||||||||||||||||||
561 | -18 | -340 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Foreign exchange loss (gain) | 561 | -18 | -340 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loss on disposal of property, plant and equipment | ||||||||||||||||||
- | -2 | -5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss on disposal of property, plant and equipment | - | -2 | -5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Working capital adjustments: | ||||||||||||||||||
Decrease (Increase) in trade receivables and other receivables | ||||||||||||||||||
-7,084 | 705 | -9,091 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Decrease (Increase) in trade receivables and other receivables | -7,084 | 705 | -9,091 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Decrease (Increase) in inventories | ||||||||||||||||||
1,317 | -4,628 | 5,134 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Decrease (Increase) in inventories | 1,317 | -4,628 | 5,134 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Decrease (Increase) in research tax credit receivable | ||||||||||||||||||
-1,087 | 963 | 578 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Decrease (Increase) in research tax credit receivable | -1,087 | 963 | 578 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Increase (Decrease) in trade payables and other liabilities | ||||||||||||||||||
-5,939 | 2,354 | 2,041 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Increase (Decrease) in trade payables and other liabilities | -5,939 | 2,354 | 2,041 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Increase (Decrease) in deferred revenue | ||||||||||||||||||
-242 | -737 | 2,848 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Increase (Decrease) in deferred revenue | -242 | -737 | 2,848 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Decrease in government grant advances | ||||||||||||||||||
-2,271 | -1,030 | -170 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Decrease in government grant advances | -2,271 | -1,030 | -170 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income tax paid | ||||||||||||||||||
333 | 226 | 312 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income tax paid | 333 | 226 | 312 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash flow used in operating activities | ||||||||||||||||||
-28,626 | -15,589 | -16,401 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash flow used in operating activities | -28,626 | -15,589 | -16,401 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Investing activities: | ||||||||||||||||||
Purchase of intangible assets and property, plant and equipment | ||||||||||||||||||
4,232 | 5,368 | 5,097 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchase of intangible assets and property, plant and equipment | 4,232 | 5,368 | 5,097 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Capitalized development expenditures | ||||||||||||||||||
2,190 | 22 | 386 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Capitalized development expenditures | 2,190 | 22 | 386 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Sale (Purchase) of financial assets | ||||||||||||||||||
-113 | 24 | 345 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Sale (Purchase) of financial assets | -113 | 24 | 345 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Increase (Decrease) of short-term deposit | ||||||||||||||||||
-2 | 48 | -233 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Increase (Decrease) of short-term deposit | -2 | 48 | -233 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest received | ||||||||||||||||||
60 | 48 | 26 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest received | 60 | 48 | 26 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash flow used in investments activities | ||||||||||||||||||
-6,477 | -5,270 | -5,345 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash flow used in investments activities | -6,477 | -5,270 | -5,345 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Financing activities: | ||||||||||||||||||
Public equity offering proceeds, net of transaction costs paid | ||||||||||||||||||
14,898 | 23,569 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Public equity offering proceeds, net of transaction costs paid | 14,898 | 23,569 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issue of warrants and exercise of stock options/warrants, net of transaction costs | ||||||||||||||||||
966 | 279 | 29 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issue of warrants and exercise of stock options/warrants, net of transaction costs | 966 | 279 | 29 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds (repayment of) from interest-bearing receivables financing | ||||||||||||||||||
-299 | 1,240 | 4,339 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds (repayment of) from interest-bearing receivables financing | -299 | 1,240 | 4,339 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from interest-bearing research project financing | ||||||||||||||||||
2,716 | 1,021 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from interest-bearing research project financing | 2,716 | 1,021 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from government loans, net of transaction cost | ||||||||||||||||||
- | - | 2,134 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from government loans, net of transaction cost | - | - | 2,134 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from convertible debt, net of transaction cost | ||||||||||||||||||
- | 6,932 | 11,572 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from convertible debt, net of transaction cost | - | 6,932 | 11,572 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of government loans | ||||||||||||||||||
116 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of government loans | 116 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of borrowings and finance lease liabilities | ||||||||||||||||||
- | 12 | 183 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of borrowings and finance lease liabilities | - | 12 | 183 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest paid | ||||||||||||||||||
327 | 251 | 181 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest paid | 327 | 251 | 181 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash flows from financing activities | ||||||||||||||||||
17,838 | 32,778 | 17,710 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash flows from financing activities | 17,838 | 32,778 | 17,710 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net increase (decrease) in cash and cash equivalents | ||||||||||||||||||
-17,265 | 11,919 | -4,036 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net increase (decrease) in cash and cash equivalents | -17,265 | 11,919 | -4,036 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net foreign exchange difference | ||||||||||||||||||
11 | -5 | -5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net foreign exchange difference | 11 | -5 | -5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||