Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES:    
Net loss $ (13,135) $ (10,993)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 15,835 16,080
Deferred rent and lease incentive 182 (171)
Provision for doubtful accounts 82 23
Deferred income taxes 2,684 3,599
Stock-based compensation expense 7,458 11,615
Non-cash interest expense 3,522 2,013
Accretion on contingent consideration and purchase liability 156 62
Fair market value adjustment on contingent consideration   50
Loss allocation from equity method investment 285  
Changes in operating assets and liabilities, net of acquisitions:    
Fees and other receivables (545) 11,278
Prepaid expenses and other current assets (3,932) (9,780)
Other non-current assets 543 (1,556)
Accrued expenses and other liabilities (8,758) (11,335)
Accounts payable 865 32
Deferred revenue 2,619 2,181
Other non-current liabilities 1,140 418
Net cash provided by operating activities 9,001 13,516
INVESTING ACTIVITIES:    
Purchase of property and equipment (4,007) (1,811)
Capitalization of internally developed software (2,091) (1,388)
Purchase of ERS units   (1,500)
Acquisition of businesses, net of cash acquired   (18,125)
Net cash used in investing activities (6,098) (22,824)
FINANCING ACTIVITIES:    
Proceeds from borrowings on revolving credit facility 25,000 15,000
Payment on revolving credit facility   (13,000)
Payments of contingent consideration (2,286)  
Payments of definite consideration (445)  
Payment of term notes (33,862) (2,000)
Proceeds from exercise of stock options 1,900 1,207
Purchase of treasury stock for stock-based minimum tax withholdings (6,650) (7,071)
Issuance of restricted stock units 3 4
Net cash used in financing activities (16,340) (5,860)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 324  
DECREASE IN CASH AND CASH EQUIVALENTS (13,113) (15,168)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 52,592 51,718
CASH AND CASH EQUIVALENTS, END OF PERIOD 39,479 36,550
Supplemental disclosure of cash flow information - net cash refunded during the period for income taxes (716) (1,513)
Supplemental disclosure of cash flow information - cash paid during the period for interest 1,414 2,079
Supplemental disclosure of non-cash operating, investing and financing activities:    
Contingent consideration issued in a business acquisition   1,929
Purchase liabilities included in accrued expenses   $ 269
Purchase of fixed assets included in accounts payable and accrued expenses and other liabilities $ 471