Tucows inc /pa/ (TCX)
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'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Operating activities:
Net income for the period

2,834

5,778

4,205

2,616

2,799

4,437

5,346

3,608

3,744

11,198

3,440

5,242

2,446

2,816

4,741

4,070

4,438

3,095

3,159

2,284

2,833

1,859

2,690

1,347

476

922

2,593

587

76

429

1,635

695

1,663

6,054

-1,178

565

727

1,083

-771

Items not involving cash:
Depreciation of property and equipment

2,990

2,516

2,348

2,172

1,925

1,715

1,445

1,330

1,232

1,113

978

879

756

518

457

427

420

415

387

341

258

229

230

226

239

231

217

206

188

201

204

201

194

187

208

258

282

271

296

Loss on write off of property and equipment

-

0

120

0

22

-

-

-

-

-

8

9

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount and issuance costs

67

65

64

90

78

70

72

69

70

68

57

80

67

22

8

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

3,301

2,870

2,858

2,565

2,040

2,290

2,296

2,326

2,331

2,330

2,245

2,064

1,760

303

292

288

68

68

68

68

57

51

107

219

219

302

219

219

219

362

219

219

219

199

201

277

326

435

435

Net amortization contract costs

29

-2

-61

34

19

-7

-29

25

25

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of contingent consideration

87

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of indefinite life intangible asset

-

-

2,501

-

-

-

-

-

-

-

2

-

-

15

2

3

20

137

18

37

12

0

0

326

250

-

0

0

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1

2

3

3

4

6

6

Change in capitalized contract costs

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes (recovery)

-190

-456

-170

1,449

462

1,899

-369

-445

-47

-206

-1,445

-2,885

1,199

-436

926

430

273

1,154

-53

-801

-164

-276

-49

-415

-343

-169

-99

113

-92

499

228

-107

212

-

-18

-

-

-

-

Excess tax benefits on share-based compensation expense

180

-156

53

381

356

165

191

197

144

180

444

1,182

989

-144

-268

-384

-61

-2,030

-312

-676

-412

-2,139

-168

-594

1,013

-

1,056

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred rent

-

-

-

-

-

-

5

4

-

-0

0

-1

-4

5

-13

-4

-11

-9

-7

-13

2

-2

-1

-9

-3

-4

-7

-4

-5

-6

-8

-5

-7

-35

-5

7

6

-

0

Net Right of use operating assets/Operating lease liability

179

27

54

-79

30

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of domain names

13

43

66

2

4

271

5

28

37

266

8

7

9

4

4

12

8

3

2

11

6

7

10

7

1

8

8

20

14

12

15

7

15

19

8

-7

13

5

4

Other income

-

-

-

-

-

258

0

42

129

129

129

128

128

128

128

128

128

85

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on disposition of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

508

-

-

-

-

-

-

Loss (gain) on change in the fair value of forward contracts

-348

109

16

70

118

-194

30

-46

3

-196

-1

163

17

30

20

28

243

24

-99

97

-158

-30

-125

192

-87

-134

204

-114

-451

-54

698

-245

701

312

-2,152

193

112

-141

1,924

Stock-based compensation

801

836

830

685

525

670

711

615

578

623

203

313

317

213

195

190

200

147

128

124

125

125

230

85

100

102

162

91

74

68

166

63

62

62

120

53

74

155

101

Change in non-cash operating working capital:
Accounts receivable

-2,151

1,095

1,763

-1,031

1,188

-692

-685

-471

309

-1,340

-533

905

-41

-681

1,623

1,921

890

-774

-262

1,088

168

-125

-4

350

1,262

435

-758

665

548

-413

-90

22

1,014

1,847

-448

104

-1,232

53

311

Inventory

-904

-446

644

-108

-408

635

-108

350

-46

-6

643

1,267

-170

-291

217

141

239

161

123

45

113

2

-90

-28

199

-28

150

-121

-278

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and deposits

-25

-6,147

329

2,524

390

918

-874

717

525

-527

-202

-1,186

3,557

243

-419

1,106

252

389

-1,000

592

1,299

-624

-613

259

366

67

-543

-635

338

70

-636

783

1,108

2,447

-299

-702

-521

489

-66

Prepaid domain name registry and ancillary services fees

2,853

-3,924

-3,819

-1,651

1,716

-4,699

-4,229

-204

-11,344

-3,459

-3,084

-2,976

5,489

-529

1,271

3,101

797

-2,699

-149

755

1,462

-1,516

-573

606

1,815

-1,785

-1,038

341

1,041

-1,712

-905

1,378

2,919

7,609

995

-1,749

-2,000

-2,355

-815

Income taxes recoverable

-500

-1,210

-1,576

1,639

1,236

-2,398

137

-165

-265

2,503

-2,225

-2,513

2,660

-1,623

-363

36

-1,226

4,256

-1,152

-121

-661

-718

227

133

433

63

-980

2

-109

233

-226

378

-619

259

-158

25

135

-165

-24

Accounts payable

1,771

1,556

-2,394

-1,170

786

-877

778

-1,862

2,132

856

-644

-592

-3,446

392

681

-1,233

549

47

195

-109

117

21

326

-866

1,670

-170

92

1

605

283

43

-308

913

-276

-539

-50

253

-244

-385

Accrued liabilities

-1,831

-4,945

3,687

2,266

1,321

-978

107

-401

759

-2,268

981

-1,818

1,830

2,672

-581

-396

-451

173

406

1,169

-59

-1,016

1,214

253

-422

725

163

1,025

-524

302

-279

255

268

254

-119

65

316

-231

94

Customer deposits

58

-846

1,394

-808

287

34

-1,049

-46

-2,275

-78

-1,905

3,152

-83

191

-943

1,214

-179

421

-199

589

-136

392

-418

16

-29

428

-595

273

-561

689

-2

-191

257

299

168

-166

-91

240

-433

Deferred revenue

3,342

-4,838

-4,200

-1,131

3,269

-4,798

-3,559

1,067

-9,598

-2,609

-1,425

-1,273

10,240

-517

1,666

3,597

1,508

-2,819

140

983

2,061

-1,871

-656

867

2,748

-1,972

-986

557

1,419

-2,315

-1,144

1,460

3,823

238

684

1,938

2,318

2,287

531

Accreditation fees payable

85

-33

-68

-46

80

-60

-73

-136

40

-38

-50

-78

-71

7

14

26

10

-22

-20

-18

51

-20

-22

-21

50

-25

-39

-28

43

-26

-51

-16

41

-10

-16

-14

36

-14

-36

Net cash provided by operating activities

14,073

13,196

11,215

6,979

8,991

10,668

11,214

5,754

9,573

14,081

7,282

8,131

2,401

9,067

5,269

2,558

5,614

4,820

6,783

2,235

2,937

2,767

5,013

1,134

-38

1,652

3,664

2,971

416

2,022

2,236

3

2,080

2,682

1,615

824

762

1,875

1,173

Proceeds received on exercise of stock options

17

84

118

122

71

50

23

32

7

49

68

85

19

40

48

37

19

65

189

299

247

93

343

130

911

37

1,136

279

38

54

14

219

130

17

10

0

3

-

10

Payment of tax obligations resulting from net exercise of stock options

182

3

20

185

340

41

116

141

147

23

117

609

712

46

76

203

36

1,306

0

0

0

-1,755

741

0

1,013

-

1,056

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

3,117

-

4,986

-

-

-

-

-

-

-

-

-

-

-0

0

4,999

2,180

5,437

9,977

489

7,712

0

1,099

0

82

0

0

0

6,537

0

1,630

1,591

5,893

-

-

-

-

-

1,702

Proceeds received on loan payable

-

12,000

5,000

7,431

32,940

-

-

2,500

-

0

0

0

86,998

-0

10,989

0

6,000

0

0

0

3,500

-

-

-

-

0

0

0

5,200

0

0

0

4,000

-

2,530

-

-

-

-

Repayment of loan payable

-

3,530

-3

3

4,600

4,384

4,387

6,253

4,572

4,572

4,573

4,572

6,258

258

9,062

218

218

0

0

0

0

0

5,358

325

616

600

600

600

800

300

0

311

538

709

1,319

478

478

478

478

Payment of loan payable costs

25

4

-2

434

205

0

4

0

4

-0

16

13

591

-2

383

133

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of credit facility renegotiation costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-3,307

8,547

117

6,931

27,866

125

-4,484

-3,862

-4,716

-4,547

-4,638

-5,109

79,456

-261

1,515

-5,518

3,583

-8,079

-9,475

485

-3,551

226

-5,372

-194

1,225

-527

1,592

-320

-2,099

-245

-1,616

-1,684

-2,301

-707

1,221

-478

-475

-478

-2,170

Additions to property and equipment

9,943

12,913

10,308

10,414

10,435

8,480

7,003

7,319

5,117

3,474

2,859

2,909

3,692

4,970

2,091

0

856

916

710

1,149

191

112

216

313

68

255

171

471

446

330

162

174

330

221

138

162

328

33

116

Proceeds on waiver of rights to .online registry

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-975

-

-0

0

0

6,619

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of a portion of the minority interest in Ting Virginia, LLC (note 3(a))

-

-

-

-

-

0

0

0

1,200

0

0

0

2,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of other assets

-

-

-

2,501

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of business, net of cash

-

-

-

-

-

-

-

-

-

-

0

0

76,237

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,392

-

-

-

-

Acquisition of intangible assets

-

-

1,038

27

-

451

113

0

1

558

2,384

0

0

204

74

196

6,054

0

0

0

0

-

-

-

-

-

-

-

-

0

0

0

3

-

-

-

-

-

-

Proceeds on disposal of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

508

-

-

-

-

-

-

Net cash used in investing activities

-18,713

-13,339

-11,346

-12,942

-38,459

-8,931

-7,116

-7,319

-6,318

-4,031

-5,243

-2,909

-81,930

-4,198

-2,165

-1,171

-6,910

-916

-710

-1,099

6,020

-8,311

-216

-313

-68

-255

-171

-471

-446

-330

-162

-174

178

-221

-2,531

-162

-328

-33

-116

Increase (decrease) in cash and cash equivalents

-7,947

8,404

-14

968

-1,602

1,862

-386

-5,427

-1,461

5,502

-2,599

113

-72

4,606

4,618

-4,131

2,287

-4,175

-3,402

1,622

5,406

-5,317

-575

627

1,118

868

5,084

2,178

-2,129

1,445

458

-1,854

-41

1,754

305

184

-41

1,363

-1,114

Supplemental cash flow information:
Interest paid

1,154

1,224

1,267

1,318

976

931

919

961

901

869

870

975

872

159

93

120

46

-2

78

57

38

0

64

69

73

83

92

97

99

49

50

54

41

13

18

8

11

27

33

Income taxes paid, net

956

1,818

1,959

2,046

2,118

1,429

1,793

2,240

1,337

1,501

1,308

2,663

2,342

1,235

927

1,274

329

674

512

1,380

564

444

469

588

669

629

-46

198

11

-

-

-

-

-

-

-

-

-

-

Property and equipment acquired during the period not yet paid for

1,102

-1,509

991

674

392

424

382

258

398

-454

186

232

250

299

89

46

11

16

63

70

66

-321

82

19

285

-

99

4

161

-164

167

42

50

-39

124

67

105

146

6

Fair value of shares issued for acquisition of Cedar Holdings Group

2,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair value of contingent consideration for acquisition of Cedar Holdings Group

3,065

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cedar Holdings Group, Incorporated [Member]
Acquisition of business, net of cash

8,770

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Ascio Technologies, Inc. [Member]
Acquisition of business, net of cash

-

-

-

-

28,024

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-