| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities: | ||||||||||
Net income | ||||||||||
16,875 | 12,955 | 6,803 | 2,419 | - | - | - | - | - | - | - |
Net income (loss) | ||||||||||
- | - | - | - | 7,186 | 4,081 | -1,837 | 4,024 | 4,689 | -1,182 | -5,116 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
4,999 | 4,548 | 4,636 | 4,893 | 5,364 | 5,822 | 6,046 | 6,630 | 6,735 | 6,912 | 6,933 |
Provision for bad debt | ||||||||||
339 | 986 | 806 | 894 | 805 | 708 | 564 | 827 | 316 | 348 | 221 |
Amortization of investment premiums | ||||||||||
- | 73 | 262 | 308 | 236 | 291 | 466 | 927 | 983 | 1,538 | 1,668 |
Stock-based compensation | ||||||||||
14,217 | 9,113 | 6,912 | 6,852 | 6,624 | 7,332 | 5,585 | 5,267 | 7,469 | 11,001 | 12,623 |
Amortization of debt issuance costs | ||||||||||
9 | 298 | 109 | 60 | - | - | - | - | - | - | - |
Deferred tax provision | ||||||||||
-1,097 | -137 | 895 | - | - | - | - | - | - | - | - |
Deferred tax provision | ||||||||||
- | - | - | 1,125 | 1,748 | -104 | 1,554 | 231 | -1,374 | -1,748 | -1,253 |
Excess tax benefit-stock options | ||||||||||
- | - | - | - | - | 712 | 506 | 422 | 2,054 | 337 | -130 |
Other non-cash | ||||||||||
- | - | - | - | -11 | - | - | - | - | - | 20 |
Other non-cash | ||||||||||
- | - | - | - | - | - | - | - | - | - | 13 |
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
-2,601 | 1,548 | 7,855 | -3,107 | 4,180 | 1,845 | -1,496 | -1,860 | 1,661 | 7,523 | -1,944 |
Operating lease assets (ROU) | ||||||||||
-2,736 | - | - | - | - | - | - | - | - | - | - |
Prepaid expenses and other current assets | ||||||||||
-1,011 | 150 | 1,105 | -343 | 149 | 912 | 524 | -384 | 760 | -931 | - |
Prepaid expenses and other current assets | ||||||||||
- | - | - | - | - | - | - | - | - | - | -2,388 |
Other assets | ||||||||||
74 | -11 | -45 | 52 | -262 | 594 | 314 | 54 | 81 | -2 | 1 |
Accounts payable | ||||||||||
164 | 332 | -810 | 299 | -921 | 56 | -239 | -144 | -853 | 648 | -296 |
Income taxes payable | ||||||||||
2,524 | -398 | 2,744 | 722 | -1,625 | 4,689 | -5,004 | 321 | 3,174 | 1,819 | 398 |
Accrued expenses and other current liabilities | ||||||||||
-792 | -212 | -157 | -987 | 1,803 | -576 | 412 | -1,421 | 1,921 | -737 | 2 |
Accrued compensation expenses | ||||||||||
94 | 336 | 670 | 40 | -967 | 479 | -17 | 57 | -779 | 1,171 | 106 |
Operating lease liability (ROU) | ||||||||||
-2,920 | - | - | - | - | - | - | - | - | - | - |
Contract liabilities | ||||||||||
-1,237 | -2,025 | 1,519 | -1,516 | - | - | - | - | - | - | - |
Deferred revenue | ||||||||||
- | - | - | - | 654 | -157 | 1,112 | 374 | -1,210 | -2,379 | -347 |
Other liabilities | ||||||||||
- | -305 | 3,175 | -162 | -2,372 | -341 | -519 | -225 | -657 | 2,415 | 340 |
Net cash provided by (used in) operating activities | ||||||||||
- | - | - | - | 14,479 | 18,217 | 8,275 | 18,636 | - | - | - |
Net cash provided by operating activities | ||||||||||
39,449 | 23,877 | 18,649 | 18,345 | - | - | - | - | 15,858 | 12,879 | 19,733 |
Investing activities: | ||||||||||
Purchases of property and equipment, and other capitalized assets | ||||||||||
6,335 | 5,538 | 4,137 | 4,410 | 3,699 | 3,847 | 4,477 | 4,150 | 4,481 | 4,805 | - |
Purchases of property and equipment, and other assets | ||||||||||
- | - | - | - | - | - | - | - | - | - | 2,075 |
Purchases of investments | ||||||||||
5,012 | - | 500 | 9,766 | 7,891 | 15,101 | 16,433 | 21,373 | 38,211 | 43,486 | 59,868 |
Proceeds from sales and maturities of investments | ||||||||||
500 | 7,600 | 10,900 | 10,560 | 6,657 | 14,215 | 25,555 | 29,954 | 17,370 | 86,054 | 41,961 |
Acquisitions of businesses, net | ||||||||||
- | 370 | - | - | - | - | - | 1,117 | 2,049 | 4,951 | - |
Net cash used in investing activities | ||||||||||
-10,847 | 1,692 | 6,263 | -3,616 | - | - | - | - | -27,371 | 32,812 | -19,982 |
Financing activities: | ||||||||||
Net cash (used in) provided by investing activities | ||||||||||
- | - | - | - | -4,933 | -4,733 | 4,645 | 3,314 | - | - | - |
Tax withholdings related to net share settlements | ||||||||||
2,790 | 3,150 | 3,940 | 4,446 | 1,705 | - | - | - | - | - | - |
Payments on bank term loan payable | ||||||||||
- | - | - | - | - | - | - | - | - | - | 3,000 |
Excess tax benefit-stock options | ||||||||||
- | - | - | - | - | 712 | 506 | 422 | 2,054 | 337 | -130 |
Purchase of treasury shares and related costs | ||||||||||
7,067 | 7,089 | 8,085 | 7,988 | 15,098 | 14,989 | 47,912 | 467 | - | 35,343 | - |
Purchase of shares through tender offer | ||||||||||
- | - | - | 40,794 | - | - | - | - | - | - | - |
Registration and other fees | ||||||||||
- | - | 3 | - | 20 | 62 | - | - | - | - | - |
Tender offer fees | ||||||||||
- | - | - | - | - | - | 140 | - | - | - | - |
Payment of earnout liabilities | ||||||||||
- | - | - | 459 | - | - | - | - | - | - | - |
Shelf registration fees | ||||||||||
- | - | - | - | - | - | - | 69 | - | - | - |
Proceeds from exercise of stock options | ||||||||||
386 | 1,005 | 942 | 4,192 | 2,802 | 4,804 | 1,560 | 766 | 2,817 | - | - |
Term loan proceeds | ||||||||||
- | 25,000 | - | 50,000 | - | - | - | - | - | - | - |
Debt issuance costs | ||||||||||
- | 44 | 50 | 367 | - | - | - | - | - | - | - |
Loan Agreement and Term loan principal payment | ||||||||||
1,250 | 32,500 | 6,250 | - | - | - | - | - | - | - | - |
Term loan principal payment | ||||||||||
- | - | - | 11,250 | - | - | - | - | - | - | - |
Net cash used in financing activities | ||||||||||
- | - | - | - | -14,021 | -9,535 | -45,986 | 652 | - | - | - |
Proceeds from exercise of stock options | ||||||||||
- | - | - | - | - | - | - | - | - | 1,015 | 133 |
Net cash used in financing activities | ||||||||||
-10,721 | -16,778 | -17,386 | -11,112 | - | - | - | - | 4,871 | -33,991 | -2,997 |
Effect of exchange rate changes on cash | ||||||||||
-67 | -84 | -45 | 85 | - | - | - | - | - | - | - |
Net (decrease) increase in cash | ||||||||||
17,814 | 8,707 | 7,481 | 3,702 | - | - | - | - | - | - | - |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
- | - | - | - | -17 | -86 | 69 | 21 | -156 | - | - |
Net decrease in cash and cash equivalents | ||||||||||
- | - | - | - | -4,492 | 3,863 | -32,997 | 22,623 | -6,798 | 11,700 | -3,246 |
Supplemental disclosure of cash flow information: | ||||||||||
Cash paid for interest | ||||||||||
- | - | - | - | - | - | 0 | 0 | 0 | 0 | 139 |
Cash paid for taxes, net | ||||||||||
3,581 | 2,625 | -43 | 711 | 5,369 | 118 | 2,834 | 3,662 | 4,153 | 3,157 | -1,942 |
Property and equipment included in accounts payable and in accrued expenses and other liabilities | ||||||||||
- | - | 959 | - | - | - | - | - | - | - | - |
Accrual for contingent consideration and cash to be paid in connection with an acquisition | ||||||||||
- | - | - | - | - | - | - | 1,715 | 1,405 | 1,063 | - |