Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from Operating Activities:    
Net loss $ (5,512) $ (7,100)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 2,648 1,530
Stock-based compensation and preference shares 2,070 7,998
Loss on equity investments   (95)
Allowance for doubtful accounts 716 111
Employee benefit obligation 315 139
Non-cash interest expense 657 229
Deferred taxes (14) 72
Change in operating assets and liabilities:    
Trade receivables (10,427) (5,075)
Other current assets (2,039) (184)
Other long-term assets 47 185
Accounts payable 15,145 6,072
Other current liabilities 251 23
Deferred revenue (64) (182)
Long-term liabilities 2,660 (122)
Net cash provided by operating activities 6,453 3,601
Cash flows from Investing Activities:    
Purchases of marketable securities (5,868) (3,873)
Sales of marketable securities 3,882 995
Purchases of property and equipment (1,413) (248)
Sales of property and equipment 38 9
Capitalized software development costs (602) (657)
Purchases of intangible assets (16) (47)
Cash, cash equivalents and restricted cash acquired in the reverse merger 21,666  
Net cash provided by (used in) investing activities 17,687 (11,710)
Cash flows from Financing Activities:    
Change in line of credit 1,973 1,699
Borrowings on term loan 16,670 5,611
Repayments on term loan (4,844) (913)
Proceeds from exercise of stock options   8
Net cash provided by financing activities 4,702 6,405
Effect of exchange rate changes on cash, cash equivalents and restricted cash (52) (634)
Net increase (decrease) in cash, cash equivalents and restricted cash 28,790 (2,338)
Cash, cash equivalents and restricted cash at beginning of year 8,207 10,545
Cash, cash equivalents and restricted cash at end of year 36,997 8,207
Supplemental disclosures of other cash flow information:    
Cash paid for interest 478 264
Cash paid for income taxes 688 368
Buc Mobile    
Cash flows from Investing Activities:    
Acquisition, net of cash acquired   (2,407)
Cash flows from Financing Activities:    
Payment of deferred consideration in relation to the acquisition (4,000)  
Solutions Infini    
Cash flows from Investing Activities:    
Acquisition, net of cash acquired   $ (5,482)
Cash flows from Financing Activities:    
Payment of deferred consideration in relation to the acquisition $ (5,097)