| Dec'15 | Dec'14 | Dec'13 | Dec'12 | |||
|---|---|---|---|---|---|---|
Operating activities: | ||||||
Net income | ||||||
28,709 | 24,691 | 14,047 | 9,552 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation | ||||||
8,829 | 7,078 | 4,653 | 2,426 | |||
Bad debt expense | ||||||
10,134 | 7,487 | 941 | 419 | |||
Loss on disposal of property and equipment | ||||||
-80 | -179 | -66 | 6 | |||
Deferred income tax benefit | ||||||
-3,471 | -683 | -1,052 | -21 | |||
Share based compensation expense | ||||||
5,286 | 4,062 | 764 | 129 | |||
Foreign currency exchange losses (gains), net | ||||||
-4,737 | 1,075 | -197 | 0 | |||
Changes in operating assets and liabilities, net of effects from acquisition of Hanru Hangzhou | ||||||
Accounts receivable | ||||||
10,744 | 16,762 | -1,117 | 11,004 | |||
Prepaid expenses and other current assets | ||||||
2,931 | 2,495 | 534 | 993 | |||
Accrued interest income on time deposits | ||||||
105 | 2,863 | 330 | 0 | |||
Other non-current assets | ||||||
603 | 651 | 472 | 421 | |||
Accounts payable | ||||||
85 | -45 | -7 | -133 | |||
Amounts due from /(to) a related party | ||||||
140 | 0 | 0 | - | |||
Income taxes payable | ||||||
3,739 | 2,383 | 1,422 | 1,113 | |||
Deferred revenue | ||||||
7,479 | 3,830 | 5,444 | 5,239 | |||
Accrued expenses and other current liabilities | ||||||
4,645 | 1,929 | 3,393 | 1,055 | |||
Other non-current liabilities | ||||||
-169 | 1,394 | 54 | 88 | |||
Net cash provided by operating activities | ||||||
55,842 | 28,459 | 29,705 | 7,443 | |||
Investing activities: | ||||||
Purchase of property and equipment | ||||||
16,053 | 7,878 | 9,108 | 7,188 | |||
Proceeds from disposal of property and equipment | ||||||
169 | 156 | 50 | 26 | |||
Purchase of short-term investments | ||||||
151,768 | 101,390 | 11,298 | 0 | |||
Proceeds from maturity of short-term investments | ||||||
151,768 | 101,390 | 11,298 | 0 | |||
Purchase of cost method investments | ||||||
4,015 | 0 | 0 | - | |||
Purchase of time deposits | ||||||
102,627 | 115,280 | 17,286 | 792 | |||
Proceeds from maturity of time deposits | ||||||
110,855 | 3,634 | 6,456 | 697 | |||
Issuance of loans to employees | ||||||
196 | 496 | 339 | 656 | |||
Proceeds from repayment of loans from employees | ||||||
254 | 406 | 691 | 0 | |||
Net cash provided by (used in) investing activities | ||||||
-11,614 | -119,458 | -19,537 | -7,914 | |||
Financing activities: | ||||||
Proceeds from bank borrowings | ||||||
- | - | - | 301 | |||
Repayment of bank borrowings | ||||||
- | - | - | 301 | |||
Amounts received on behalf of a related party | ||||||
0 | 0 | 141 | 668 | |||
Repayment of amounts received on behalf of a related party | ||||||
0 | 0 | 232 | 745 | |||
Advances from a related party | ||||||
230 | 0 | 153 | 308 | |||
Repayment of advances from a related party | ||||||
230 | 0 | 153 | 308 | |||
Issuance of Class A ordinary shares upon the IPO | ||||||
0 | 96,254 | 0 | 0 | |||
Issuance of Class A ordinary shares in private placement concurrent with the IPO | ||||||
0 | 13,500 | 0 | 0 | |||
Issuance of Class A ordinary shares in connection with exercise of share options | ||||||
3,606 | 248 | 0 | 0 | |||
Repurchase of treasury shares | ||||||
7,738 | 0 | 0 | - | |||
Payment of issuance cost of Series C convertible redeemable preferred shares | ||||||
- | - | - | 150 | |||
Payment of IPO costs | ||||||
- | 3,532 | 499 | 0 | |||
Net cash provided by (used in) financing activities | ||||||
-4,132 | 106,471 | -590 | -227 | |||
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash | ||||||
-3,609 | 1,047 | 364 | 45 | |||
Net increase in cash and cash equivalents | ||||||
36,485 | 16,520 | 9,942 | -652 | |||
Supplemental disclosure of cash flow information: | ||||||
Income taxes paid | ||||||
360 | 567 | 1,846 | 1,038 | |||
Interest paid | ||||||
- | - | - | 5 | |||
Non-cash investing and financing activities: | ||||||
Accrual for purchase of equipment | ||||||
591 | 286 | 0 | 86 | |||
Accrual of IPO costs | ||||||
- | 0 | 107 | - | |||
Accrual of IPO costs | ||||||
- | - | - | 0 | |||