Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net loss $ (22,284) $ (1,869)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,907 1,980
Stock-based compensation, preference share and unpaid bonuses 16,055 446
Non-cash settlement of preference share liability (2,486)  
Allowance for doubtful accounts 144 75
Employee benefit obligation 376 228
Non-cash interest expense, net 151 437
Deferred taxes (898) (724)
Change in operating assets and liabilities:    
Trade receivables 921 (12,224)
Other current assets 1,884 (896)
Other long-term assets (487) (514)
Accounts payable (13,727) 13,605
Other current liabilities 3,463 2,520
Deferred revenue 152 89
Long-term liabilities 815 (2,065)
Net cash provided by (used in) operating activities (14,014) 1,088
Cash Flows from Investing Activities:    
Purchase of short-term investments (7,917) (4,328)
Sale of short-term investments 7,815 2,493
Purchase of property and equipment (969) (1,307)
Sale of property and equipment 16  
Capitalized software development costs (2,074)  
Purchase of intangible assets (6) (14)
Net cash used in investing activities (3,135) (3,156)
Cash Flows from Financing Activities:    
Change in line of credit 749 20
Borrowings on term loans 24,437 16,670
Repayments on term loans (6,344) (2,684)
Repayments on notes payable (11,478)  
Repurchase of common stock in connection with forward share purchase agreements (30,431)  
Payments related to forward share purchase agreements (1,452)  
Proceeds from issuance of stock in public offering, net of issuance costs 36,152  
Net cash provided by financing activities 11,633 4,909
Effect of exchange rate changes on cash, cash equivalents and restricted cash 33 (346)
Net increase (decrease) in cash, cash equivalents and restricted cash (5,483) 2,495
Cash, cash equivalents and restricted cash, beginning of period [1] 36,997 8,207
Cash, cash equivalents and restricted cash, end of period [1] 31,514 10,702
Supplemental disclosures of cash flow information:    
Cash paid for interest 737 296
Cash paid for income taxes   432
Non-cash financing activities:    
Change in value of forward share purchase agreements (1,671)  
Common stock issued to settle a payable 3,123  
Note payable issued to settle a payable $ 3,100  
Buc Mobile    
Cash Flows from Financing Activities:    
Payment of deferred consideration for the acquisition   (4,000)
Solutions Infini    
Cash Flows from Financing Activities:    
Payment of deferred consideration for the acquisition   $ (5,097)
[1] As of September 30, 2020, includes $31.5 million of cash and cash equivalents and zero of restricted cash; as of December 31, 2019, includes $16.1 million of cash and cash equivalents and $20.9 million of restricted cash.