Enom 2011 Annual Report Download - page 68

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We expect that our existing cash and cash equivalents, our $105 million revolving credit facility and our cash flows from operating activities will be
sufficient to fund our operations for at least the next 24 months. However, we may need to raise additional funds through the issuance of equity, equity-related
or debt securities or through additional credit facilities to fund our growing operations, invest in content and make potential acquisitions.
The following table sets forth our major sources and (uses) of cash for each period as set forth below:
Year ended December 31,
2009 2010 2011
(In thousands)
Net cash provided by operating activities $ 39,231 $ 61,624 $ 85,349
Net cash used in investing activities (22,791) (66,296) (98,539)
Net cash provided by (used in) financing activities (54,990) (10,537) 66,936
Cash Flow from Operating Activities
Year ended December 31, 2011
Net cash inflows from our operating activities of $85.3 million an increase of 38% or $23.7 million compared to the prior year. Our net loss during the
period was $(18.5) million, which included non-cash charges of $100.4 million such as depreciation, amortization, stock-based compensation and deferred
taxes. The remainder of our sources of net cash flow from operating activities was from changes in our working capital, including increases in deferred
revenue, accounts payable and accrued expenses of $14.8 million, offset in part by increases in accounts receivable, deferred registration costs and deposits
with registries of $13.3 million. The increases in our deferred revenue and deferred registry fees were primarily due to growth in our Registrar service during
the period. The increase in accrued expenses is reflective of increases in amounts due to certain vendors and our employees resulting from growth in our
business. The increase in our accounts receivable reflects growth in advertising revenue from our platform including a higher mix of balances from brand
advertising sales.
Year ended December 31, 2010
Net cash inflows from our operating activities of $61.6 million primarily resulted from improved operating performance. Our net loss during the year
was $5.3 million, which included non-cash charges of $64.3 million such as depreciation, amortization, stock-based compensation and deferred taxes. The
remainder of our sources of net cash inflows was from changes in our working capital, including deferred revenue and accrued expenses of $17.6 million,
offset by net cash outflows from deferred registry fees and accounts receivable of $16.9 million. The increases in our deferred revenue and deferred registry
fees were primarily due to growth in our Registrar service during the period. The increase in accrued expenses is reflective of significant amounts due to
certain vendors and our employees. The increase in our accounts receivable reflects growth in advertising revenue from our platform.
Year ended December 31, 2009
Net cash inflows from our operating activities of $39.2 million primarily resulted from improved operating performance. Our net loss during the year
was $22.5 million, which included non-cash charges of $56.5 million such as depreciation, amortization, stock-based compensation and deferred taxes. The
remainder of our sources of net cash inflows was from changes in our working capital, including deferred revenue and accrued expenses of $10.0 million,
offset by net cash outflows from deferred registry fees and accounts receivable of $7.8 million. The increases in our deferred revenue and deferred registry
fees were due to growth in our Registrar service during the period. The increase in accrued expenses is reflective of significant amounts due to certain vendors
and our employees. The increase in our accounts receivable reflects growth in advertising revenue from our platform.
Cash Flow from Investing Activities
Year ended December 31, 2009, 2010 and 2011
Net cash used in investing activities was $98.5 million , $66.3 million and $22.8 million during the years ended December 31, 2011 , 2010 and 2009,
respectively. Cash used in investing activities during the year ended December 31, 2011 ,
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