TRANSENTERIX, INC. TRXC Cash Flow

Transenterix, inc. (TRXC)

CashFlow / Quarterly

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
Operating Activities
Net loss
-16,598	-13,732	-97,773	-20,171	-22,525	-6,441	-20,206	-34,248	-882	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss
-	-	-	-	-	-	-	-	-	-	-	-	-15,414	-	-12,944	-80,131	-12,913	-13,579	-13,901	-9,348	-10,120	-8,079	-11,507	-10,587	-7,479	-8,031	-11,265	-4,285	-4,777	-3,731	-7,556	-2,001	-2,137
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:
Loss from sale of SurgiBot assets, net
0	-	0	0	-97	-	-44	-37	11,996	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation
600	-	-	-	600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense related to Share Exchange
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Depreciation
-	-	-	-	-	544	599	617	660	670	674	610	532	444	446	487	565	446	34	378	390	-129	342	308	286	-81	367	345	352	269	1,360	42	42
Amortization of intangible assets
2,564	2,547	2,558	2,585	2,611	2,624	2,674	2,743	2,827	2,714	1,821	1,687	1,636	1,655	1,709	1,786	1,817	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount and debt issuance costs
0	76	815	292	330	150	80	221	274	298	169	12	31	37	41	47	52	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of short-term investment discount
0	-1	28	80	220	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14	15	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13	12	-	-	22	22	-	-	-	-	16	18	3	2
Stock-based compensation
1,923	1,773	3,391	3,355	2,981	2,306	2,490	2,370	1,834	1,757	1,642	1,540	2,139	1,175	1,381	1,049	1,428	923	721	768	899	-178	816	797	405	457	354	65	65	69	50	113	111
Interest expense on deferred consideration - MST acquisition
0	-6	375	183	204	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax benefit
-697	-	-	-	-610	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-44	-4	0	0
Deferred tax benefit
-	-	-	-	-	-777	-800	-910	-890	-980	-740	-722	-858	-837	-1,068	-1,012	-2,645	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25	26	27	-	-	-	-
Fair Value Adjustment of Warrants
200	800	-600	-2,500	100	-10,100	8,700	17,529	-1,829	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of contingent consideration
-1,100	-89	11,647	-958	-1,000	1,081	1,358	-812	-627	-800	-773	774	-1,227	1,218	100	-944	-856	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable
340	-1,770	-1,505	-2,937	129	2,963	3,500	466	296	1,267	-1,373	-266	753	-	-	-	-	0	-8	-45	-80	95	-58	44	-136	-151	141	-111	-281	-	-	-	-
Interest receivable
-	-	-	-	-	-26	-52	3	21	56	-40	-37	-2	-3	-4	7	6	-	-	-	-	1	-2	-71	5	58	10	0	-16	-	-	-	-
Inventory Adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Gain on sale of TruePosition investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Inventories
1,063	2,263	3,840	5,680	4,621	869	-284	956	604	-538	2,657	542	320	4,764	-2,100	2,248	1,735	-	-	-	-	-267	-171	-213	-50	-64	-749	-27	109	-139	-1,364	1,140	506
Other current and long term assets
76	-1,658	-1,376	1,026	2,663	352	1,878	-734	-1,171	894	981	1,222	251	238	1,077	81	132	-976	398	-7	-143	-71	228	-165	178	-199	522	-47	52	-	-	-	-
Accounts payable
509	246	-3,413	2,213	286	1,670	-1,307	621	-217	1,068	310	-1,150	-759	1,561	580	-1,106	-1,391	112	1,146	-672	510	-1,497	-351	1,758	54	-	-	-	-	-	-	-	-
Other current assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	42	-50
Other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Accounts payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	410	212	-1,028	348	329
Accrued expenses
-433	259	15	1,064	-2,518	2,190	303	2,512	-2,871	1,886	597	771	-1,161	1,280	-108	705	-765	1,244	3,637	633	-143	13	-150	375	125	363	278	35	192	-	-	-	-
Deferred revenue
83	-92	-5	-665	-197	464	330	117	-86	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long term liabilities
-130	-615	-266	767	1,112	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-48
Net cash and cash equivalents used in operating activities
-12,477	-14,368	-19,578	-15,343	-24,195	-12,852	-16,451	-6,891	-12,299	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,067	-2,677	-2,157
Investing Activities
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-125	-	-	-	0	-	-	-	-
Net cash and cash equivalents used in operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-13,949	-	-9,729	-12,667	-14,869	-14,184	-8,449	-7,912	-8,214	-9,143	-10,848	-6,903	-6,459	-7,189	-6,604	-3,848	-3,595	-	-	-	-
Proceeds related to sale of assets, net
-	-	-	-	-	-	0	0	4,496	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of short-term investments
0	0	0	1,989	10,894	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities of short-term investments
0	0	10,000	15,000	40,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of property and equipment
2	45	203	71	118	280	132	140	218	78	91	896	501	483	361	364	153	506	417	156	155	548	716	723	187	653	574	81	69	-	-	-	-
Purchase of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,448	4,696	1	5
Proceeds from sale and maturities of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4,469	1,722	-3	0	0	907	7,098	0	0	0
Proceeds from sale of property and equipment
-	-	-	-	-	0	0	15	17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment received under Rule 16b
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Net cash and cash equivalents (used in) provided by investing activities
-2	15,920	9,797	12,940	28,988	-17,900	-39,751	-125	4,295	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,739	-1	-5
Financing Activities
Proceeds from issuance of common stock, preferred stock and warrants under 2020 financing, net of issuance costs
13,525	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash and cash equivalents provided by (used in) investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-501	-	-361	-364	-153	-506	-25,417	-156	-155	-548	-691	6,816	-1,535	-5,851	-1,373	-81	838	-	-	-	-
Capital contributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Proceeds from notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Payment of notes payable
-	-	-	-	-	-	-	-	-	0	0	11,377	1,966	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Payment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,894	1,859	1,219	-	-	-	-	0	980	959	938	-	-	-	0	-	-	-	-
Proceeds from issuance of common stock and warrants, net of issuance costs
11,212	2,052	23,725	0	0	0	277	-9	11	46,033	2,353	23,889	5,304	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided in connection with the acquisition of SafeStitch LLC
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Proceeds from issuance of common stock, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31,391	-	5,762	50,750	1,783	-	-	-	-	-	-	-	-	-	-	0	8,318
Proceeds from issuance of preferred stock, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	268	0	0
Taxes paid related to net share settlement of vesting of restricted stock units
33	0	0	0	499	-	-	-	-	-	-	-	-	38	0	0	130	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock related to sale of SurgiBot assets
-	-	-	-	-	0	0	0	3,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options and warrants
0	-1	5	298	236	1,007	1,583	8,101	1,712	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash, cash equivalents and restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,062	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash and cash equivalents provided by (used in) financing activities
24,704	-14,344	8,730	268	-263	10,311	156	11,262	4,723	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,572	0	5,843
Effect of exchange rate changes on cash and cash equivalents
-51	-	-	-	-58	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of exchange rate changes on cash and cash equivalents
-	-	-	-	-	-	-36	-166	88	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from stockholder loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	500
Repayment of stockholder loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	2,975
Proceeds from exercise of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Net cash and cash equivalents provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	3,338	-	-1,896	24,544	30,050	-26	15,647	50,804	1,979	-12	3,317	51,563	-930	-	-	-	0	-	-	-	-
Effect of exchange rate changes on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	40	-	-41	-126	34	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in cash, cash equivalents and restricted cash
12,174	-12,237	-1,210	-2,109	4,472	-20,760	-56,082	4,080	-3,193	66,737	-5,291	12,642	-11,072	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options and warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2	157	8	7	2	54	196	18	49	16	8	-	-	-	0	0	3	0	0
Net increase in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-18,219	42,736	-6,390	-	-8,222	48,406	-5,854	-13,815	21,619	-3,929	-2,757	6,267	-12,378	-2,678	3,681
Supplemental Disclosure for Cash Flow Information
Interest paid
0	114	545	778	750	595	536	295	304	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest paid
-	-	-	-	-	-	-	-	-	-	-	-	233	-	306	340	373	375	223	188	187	386	181	158	179	199	188	247	190	87	128	0	91
Supplemental Schedule of Non-cash Investing and Financing Activities
Transfer of inventories to property and equipment
1,958	8	63	329	86	0	1,105	984	71	-	-	-	-	1,332	43	0	1,823	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Exchange of common stock for Series B Warrants
2,470	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common stock as contingent consideration
-	-	-	-	-	-	-	-	-	0	0	0	5,227	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reclass of warrant liability to common stock and additional paid-in capital
-	-	-	-	-	289	16,425	6,544	516	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of in-process research and development to intellectual property
2,425	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of preferred stock to common stock
30	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash dividend upon issuance & conversion of Preferred
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Stockholder loans contributed to capital
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Warrants issued in connection with credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0