Vonage holdings corp (VG)
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'11
Cash flows from operating activities:
Net loss

-3,755

-2,375

-21,097

4,524

-534

-6,943

9,588

8,559

24,524

-55,273

10,602

4,825

5,913

-2,038

7,040

218

7,931

3,406

3,433

8,347

7,410

5,494

4,365

5,383

4,205

3,322

3,985

7,447

13,047

12,833

13,213

-3,340

13,921

350,146

16,037

21,748

21,113

Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization

6,331

7,717

6,978

6,464

6,656

7,032

6,897

10,096

7,419

8,325

8,549

8,812

8,569

9,810

9,262

9,262

9,317

9,398

8,969

8,752

8,501

10,114

8,196

8,172

7,982

8,349

7,866

7,611

7,382

7,458

7,517

7,924

8,050

8,221

8,397

8,378

10,780

Amortization of intangibles

14,154

15,344

14,341

14,198

14,558

12,151

9,125

8,974

9,207

9,598

9,632

9,448

9,378

9,260

8,756

8,956

7,662

8,581

6,477

5,711

5,635

4,150

4,150

4,287

4,356

3,078

593

594

593

594

593

594

594

417

286

286

286

Deferred income taxes

1,468

-5,781

17,222

-14,569

-10,283

4,697

799

350

-10,655

72,102

10,586

-2,308

-5,803

411

2,750

1,458

7,439

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred customer acquisition costs

3,661

3,378

3,060

2,391

2,530

3,285

2,579

2,264

2,159

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Allowances for doubtful accounts and obsolete inventory

1,448

863

909

395

80

367

216

627

800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of financing costs and debt discount

3,656

3,596

3,542

1,499

270

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of discount on notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

92

362

460

Allowance for doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

109

343

-

123

597

0

0

1

17

-26

-10

0

-85

-98

-121

-35

0

-100

0

-27

1,155

-202

-76

95

228

-251

Allowance for obsolete inventory

-

-

-

-

-

-

-

-

-

-

-

155

138

-

162

352

0

520

128

54

1,180

451

90

113

103

143

290

118

112

264

171

24

68

418

255

21

79

Amortization of debt issuance costs

-

-

-

-

-

-

-

-

258

-

96

-72

276

280

283

266

251

254

279

226

238

252

276

255

289

325

407

395

388

255

291

327

362

397

364

280

350

Loss on disposal of property and equipment

-741

-26

-301

70

-514

89

-2

8

-174

-80

2

106

-240

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on foreign currency

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,716

0

0

-1,358

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,378

-

5,045

4,702

3,707

1,044

3,282

4,475

7,994

9,121

7,192

-1,087

4,262

-325,601

0

0

0

Change in fair value of embedded features in notes payable and stock warrant

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-950

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-7,985

-3,228

-593

Share-based expense

11,116

13,090

12,921

11,216

8,015

9,304

8,523

8,808

7,164

8,485

8,106

9,785

11,106

13,554

10,458

10,367

6,303

7,460

7,889

6,704

5,488

4,171

5,785

4,820

6,294

4,758

4,684

4,419

3,982

2,374

3,473

3,505

2,623

3,819

4,131

3,854

2,475

Gain on sale of business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

907

0

0

-907

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Changes in derivatives

133

133

133

132

133

133

65

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-2,361

5,928

-57

24,351

-1,083

5,400

7,829

7,527

-271

3,283

5,250

3,145

-4,425

4,398

-1,932

6,266

910

-2,176

-4,138

2,713

3,416

-7,124

423

1,945

-131

-2,637

-1,422

2,558

265

-1,943

2,991

3,810

-1,397

29

85

2,101

448

Inventory

-127

525

-108

-265

-179

41

-651

-802

179

367

-803

-13

-340

-218

324

-931

25

-1,739

-82

-3,123

2,129

2,523

541

1,380

-4,480

-740

1,457

2,237

2,881

-714

-3,163

2,370

759

-38

2,297

-514

-383

Prepaid expenses and other current assets

5,387

-4,194

3,732

-1,324

-170

3,629

-3,384

-5,659

2,627

1,314

-2,351

-3,018

716

8,021

-426

-492

3,079

-2,663

1,040

1,118

2,409

-3,850

-7,050

4,426

2,368

-3,215

-4,352

6,905

1,324

-3,533

1,096

-1,913

3,005

-1,435

-897

1,736

184

Deferred customer acquisition costs

-9,042

-8,838

-6,336

-7,913

-7,459

-7,431

-6,171

-6,024

-5,813

1,729

0

0

0

-549

993

-171

1,084

-256

-134

257

554

-512

13

293

436

1,058

572

-1,404

395

96

-417

-166

421

91

-331

604

1,527

Accounts payable and accrued expenses

-25,459

13,984

38,938

-4,102

-10,793

6,604

-896

6,172

1,622

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-

-

-

-

-

-

-

-

-

-

-

-16,313

8,189

-

-22,347

973

4,122

4,870

-2,106

5,273

-11,867

-1,796

2,608

5,067

-14,333

8,181

-4,119

-9,274

-21,123

23,411

-7,508

4,489

-12,591

18,044

1,286

12,680

-2,920

Accrued expenses

-

-

-

-

-

-

-

6,655

-10,190

-

-

432

-24,219

13,599

15,802

-1,112

-22,199

11,014

8,192

-4,695

-4,989

-4,249

-2,250

-1,194

-5,349

-598

1,977

14,055

2,435

454

-5,015

-4,018

-2,140

-16,431

10,679

-909

-14,555

Deferred revenue

2,934

-2,920

468

6,711

-312

4,120

-991

-279

-1,434

-1,107

29

-132

-1,374

659

-1,251

-601

-933

-1,616

-733

-278

-1,055

-890

-128

-254

-638

-172

-473

587

-1,053

-1,267

-88

-567

-1,595

-2,250

-578

-440

-1,899

Increase (Decrease) in Other Operating Assets

669

-

-

-

3,022

-

-

-

-

-

-

-

-

-

-

-

-356

-

411

333

613

-266

6,488

-258

-174

-114

-188

-1,514

-154

-203

339

340

312

3

399

-28

-537

Increase (Decrease) in Other Operating Assets and Liabilities, Net

1,049

-

-

-

-1,231

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets - cloud computing implementation costs

-

-

-

-

-

1,246

1,617

2,188

1,204

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets and liabilities

-

-

-

-

-

5,836

531

-726

1,972

-264

1,789

1,839

456

-3,889

384

-307

149

-1,178

69

242

579

-257

16

16

16

16

16

15

16

-940

25

26

25

9

-1,281

-1,874

-1,819

Net cash provided by operating activities

2,503

33,076

31,783

25,317

2,750

28,742

28,528

42,467

23,468

47,458

47,907

15,432

17,261

23,842

27,087

25,059

17,468

50,859

37,665

35,237

10,724

31,309

27,764

24,082

9,387

36,089

23,550

18,852

9,752

61,046

18,157

29,521

11,119

38,645

45,533

45,151

17,457

Cash flows used in investing activities:
Capital expenditures

2,887

4,847

5,970

4,179

5,277

8,345

2,900

4,537

3,250

6,125

6,795

5,294

3,701

6,166

4,032

7,053

8,895

7,745

4,618

2,904

2,056

5,200

4,137

2,157

942

2,881

1,205

3,772

2,031

9,206

865

1,659

2,033

3,783

3,686

3,869

1,298

Payments to Acquire Intangible Assets

75

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,046

3,618

2,727

2,746

2,448

2,061

2,542

4,628

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Maturities and sales of marketable securities

-

-

-

-

-

-

-

-

-

0

0

280

322

5,955

1,512

3,576

3,948

2,348

2,745

1,243

887

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition and development of software assets

10,273

7,652

7,839

7,500

5,497

1,516

1,978

1,073

3,147

1,936

2,554

3,504

3,380

2,551

3,332

3,343

2,312

6,251

2,390

3,284

2,258

1,850

2,938

4,245

2,786

3,541

2,553

3,884

2,313

2,803

537

2,647

7,000

5,742

8,253

4,704

3,593

Acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-146

91,638

21,747

3,505

88,098

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

1

-999

1

2

-999

1

2

2

1

-1,257

2

-282

1

-999

-1

-1

0

-1,047

Net cash used in investing activities

-13,235

-12,817

-16,809

-11,679

-10,774

-358,046

-37,177

-5,610

-6,397

-7,111

-9,349

-7,518

-6,759

-2,812

-5,852

-171,908

-10,877

-15,226

-101,148

-29,141

-7,994

-97,691

-11,705

-5,403

-3,729

-106,481

-3,760

-7,657

-3,087

-12,011

-1,120

-4,307

-8,034

-13,249

-11,938

-8,573

-3,844

Cash flows provided by/(used in) financing activities:
Principal payments on capital lease obligations and other financing obligations

-

-

-

-

-

21

24

36

59

87

840

1,198

3,663

1,130

1,124

1,104

5,225

1,034

899

820

796

771

732

704

682

1,661

626

602

582

564

534

511

495

480

452

432

419

Payments for short and long-term debt

0

25,000

12,500

403,500

2,500

26,500

249,313

34,688

9,687

45,687

36,688

14,687

4,688

24,687

14,688

19,687

13,750

33,750

3,750

5,000

5,000

5,000

5,000

5,833

25,833

5,834

5,833

5,833

5,834

7,083

7,083

7,084

7,083

22,083

137,083

55,000

15,000

Proceeds from issuance of long-term debt

45,000

10,000

0

437,500

41,500

335,000

262,000

0

10,000

0

0

0

15,000

0

0

181,250

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance costs

0

328

824

8,763

128

4

3,376

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

47

0

2,009

0

0

0

0

-

-

-

-

Proceeds received from issuance of notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

27,500

-

0

0

0

-

-

-

-

Proceeds received from draw down of revolving credit facility and issuance of notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,000

-

10,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Common stock repurchases

-

-

-

-

-

-

-

-

-

0

0

0

9,542

0

0

25,312

7,590

0

2,151

5,591

8,169

12,591

13,222

13,514

10,011

11,924

14,304

13,354

16,712

19,114

8,431

0

0

-

-

-

-

Employee taxes paid on withholding shares

12,656

662

1,349

457

18,566

520

2,446

1,131

27,487

645

365

467

14,095

2,085

393

1,070

2,896

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

155

303

414

784

480

387

1,062

2,884

2,171

6,934

2,514

8,514

3,448

2,692

3,146

2,557

466

1,162

1,733

1,452

2,825

302

647

1,779

1,836

523

1,063

2,222

283

632

535

64

494

41

578

2,231

1,712

Net cash provided by financing activities

32,499

-15,687

-14,259

-12,761

20,786

308,342

7,903

-32,971

-25,062

-39,485

-35,379

-7,838

-13,540

-25,210

-13,059

135,318

-28,995

-38,376

74,926

-9,959

8,860

48,940

-10,217

-18,272

-34,690

56,104

-19,292

-17,567

2,646

-26,129

-15,513

-7,531

-7,084

-22,522

-40,708

-53,201

-13,707

Effect of exchange rate changes on cash

-2,290

268

438

-1,361

260

347

448

-1,240

35

769

-110

532

128

37

627

51

-160

-126

-152

125

-163

-1,129

-1,436

283

-1,359

-964

869

-974

-527

-504

802

-544

379

399

-458

129

815

Net increase in cash, cash equivalents, and restricted cash

19,477

4,840

1,153

-484

13,022

-20,615

-298

2,646

-7,956

1,631

3,069

608

-2,910

-4,143

8,803

-11,480

-22,564

-2,869

11,291

-3,738

11,427

-18,571

4,406

690

-30,391

-15,252

1,367

-7,346

8,784

22,402

2,326

17,139

-3,620

3,273

-7,571

-16,494

721

Supplemental disclosures of cash flow information:
Cash paid during the periods for:
Interest

2,866

-

3,646

6,533

6,929

-

2,759

2,914

2,781

-

3,425

3,512

3,210

-

3,383

2,643

2,190

-

1,895

1,744

1,787

1,265

1,297

1,299

1,391

1,566

1,124

1,061

971

1,042

1,081

1,173

1,357

1,484

2,975

5,149

5,955

Income taxes

1,249

-

1,209

2,078

148

-

814

2,522

2,333

-

1,841

2,814

740

-

2,002

1,539

1,624

-

623

1,392

89

620

726

1,052

93

421

454

1,157

291

186

280

1,022

841

1,074

238

854

123

Non-cash investing activities:
Acquisition of long-term assets included in accounts payable and accrued expenses

2,119

-

590

-267

334

-

467

58

1,315

-

-1,261

-230

3,722

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock repurchases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

443

-

-322

37

285

26

77

-235

793

-363

470

193

436

-62

706

0

0

-

-

-

-

Issuance of shares for asset acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5,578

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-