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 income $ 1,445 $ 471
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property and equipment 3,975 3,576
Amortization of intangible assets 71 65
Impairment of property and equipment 161  
Stock-based compensation 3,246 2,375
Loss on disposal of property and equipment 3  
Provision for accounts receivable 41  
Changes in operating assets and liabilities:    
Accounts receivable and contract asset 6,976 8,482
Prepaid expenses and other assets (273) (303)
Accounts payable (185) (617)
Accrued expenses and other current liabilities (336) (73)
Deferred revenue (6,315) (2,825)
Net cash provided by operating activities 8,809 11,151
Cash flows from investing activities:    
Purchase of property and equipment (3,132) (3,672)
Investment in intangible and other assets (46) (59)
Net cash used in investing activities (3,178) (3,731)
Cash flows from financing activities:    
Payment of contingent consideration liability (347)  
Proceeds from issuance of common stock in public offering   11,247
Payment of line of credit costs (4)  
Payments of offering costs   (445)
Proceeds from exercise of stock options 167 443
Repurchases of common stock (1,615) (3,466)
Proceeds from exercise of warrants   71
Proceeds from employee stock purchase plan 408 642
Net cash provided by (used in) financing activities (1,391) 8,492
Increase in cash and cash equivalents 4,240 15,912
Effect of exchange rate on cash and cash equivalents (124) (52)
Cash and cash equivalents at beginning of year 24,550 10,278
Cash and cash equivalents at end of period 28,666 26,138
Supplemental cash flow disclosures:    
Purchases of property and equipment included in accounts payable $ 143 $ 26

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