v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net (loss) income $ (171,000) $ 879,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property and equipment 2,810,000 2,664,000
Amortization of intangible assets 518,000 48,000
Impairment of property and equipment 25,000  
Stock-based compensation 2,869,000 2,050,000
Loss on disposal of property and equipment   2,000
Provision for accounts receivable (40,000) 49,000
Changes in operating assets and liabilities:    
Accounts receivable and contract asset 5,609,000 5,995,000
Prepaid expenses and other assets (1,241,000) (648,000)
Accounts payable 47,000 (405,000)
Accrued expenses and other current liabilities (502,000) (771,000)
Deferred revenue (4,788,000) (4,650,000)
Net cash provided by operating activities 5,136,000 5,213,000
Cash flows from investing activities:    
Purchase of property and equipment (3,573,000) (2,300,000)
Investment in intangible and other assets (32,000) (34,000)
Business acquisition purchase price adjustment 15,000  
Net cash used in investing activities (3,590,000) (2,334,000)
Cash flows from financing activities:    
Payment of contingent consideration liability (403,000) (347,000)
Proceeds from exercise of stock options 577,000 98,000
Repurchases of common stock (2,683,000) (1,615,000)
Proceeds from exercise of warrants 8,000 0
Proceeds from employee stock purchase plan 462,000 408,000
Net cash provided by (used in) financing activities (2,039,000) (1,456,000)
(Decrease) increase in cash and cash equivalents (493,000) 1,423,000
Effect of exchange rate on cash and cash equivalents 17,000 (149,000)
Cash and cash equivalents at beginning of year 16,043,000 24,550,000
Cash and cash equivalents at end of period 15,567,000 25,824,000
Supplemental cash flow disclosures:    
Purchases of property and equipment included in accounts payable $ 498,000 $ 415,000

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