Print Page | Close Window
8-K
ATRICURE, INC. filed this Form 8-K on 02/28/2019
Entire Document
 



 

 

 

 

 

ATRICURE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands)

(Unaudited)



 

 

 

 

 



Twelve Months Ended December 31,



2018

 

2017

Cash flows from operating activities:

 

 

 

 

 

Net loss

$

(21,137)

 

$

(26,892)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

Share-based compensation expense

 

16,495 

 

 

14,615 

Depreciation and amortization of intangible assets

 

8,754 

 

 

9,128 

Amortization of deferred financing costs

 

515 

 

 

264 

Loss on disposal of property and equipment and impairment of assets

 

323 

 

 

336 

Realized loss (gain) from foreign exchange on intercompany transactions

 

165 

 

 

(173)

(Accretion) amortization of investments

 

(362)

 

 

30 

Provision for allowance for doubtful accounts

 

598 

 

 

(172)

Change in fair value of contingent consideration

 

(10,825)

 

 

(4,078)

Payment of contingent consideration in excess of purchase accounting amount

 

(96)

 

 

 —

Changes in operating assets and liabilities:

 

 

 

 

 

Accounts receivable

 

(2,837)

 

 

(1,464)

Inventories

 

(146)

 

 

(4,477)

Other current assets

 

(367)

 

 

829 

Accounts payable and accrued liabilities

 

4,618 

 

 

3,518 

Other noncurrent assets and liabilities

 

131 

 

 

(408)

Net cash used in operating activities

 

(4,171)

 

 

(8,944)

Cash flows from investing activities:

 

 

 

 

 

Purchases of available-for-sale securities

 

(106,588)

 

 

(16,455)

Sales and maturities of available-for-sale securities

 

27,389 

 

 

26,600 

Purchases of property and equipment

 

(6,211)

 

 

(6,384)

Proceeds from sale of property and equipment

 

 

 

 —

Net cash (used in) provided by investing activities

 

(85,404)

 

 

3,761 

Cash flows from financing activities:

 

 

 

 

 

 Net proceeds from stock offering

 

82,873 

 

 

 —

Proceeds from debt borrowings

 

17,381 

 

 

 —

Payments on debt and capital leases

 

(1,755)

 

 

(1,689)

Payment of debt fees

 

(1,136)

 

 

(50)

Proceeds from stock option exercises

 

6,012 

 

 

4,402 

Shares repurchased for payment of taxes on stock awards

 

(4,457)

 

 

(2,013)

Proceeds from issuance of common stock under employee stock purchase plan

 

2,383 

 

 

2,110 

Payment of contingent consideration liability previously established in purchase accounting

 

(1,125)

 

 

 —

Net cash provided by financing activities

 

100,176 

 

 

2,760 

Effect of exchange rate changes on cash and cash equivalents

 

(179)

 

 

24 

Net increase (decrease) in cash and cash equivalents

 

10,422 

 

 

(2,399)

Cash and cash equivalents - beginning of period

 

21,809 

 

 

24,208 

Cash and cash equivalents - end of period

$

32,231 

 

$

21,809