TeleNav 2015 Annual Report Download - page 89
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Table of Contents
TELENAV, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Fiscal Year Ended June 30,
2015
2014
2013
Operating activities
Net income (loss)
$
(23,063
)
$
(29,524
)
$
13,067
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating
activities:
Depreciation and amortization
5,239
6,759
8,408
Accretion of premium, net on short-term investments
1,318
3,500
4,424
Stock-based compensation expense
11,428
11,535
8,647
Valuation allowance on deferred tax assets
(778
)
7,398
—
Bad debt expense
33
132
—
Write-off of long-term investments
1,302
250
335
Write-off due to impairment of capitalized software
—
—
438
Loss on disposal of property and equipment
73
112
173
Excess tax benefits from employee stock options
—
310
305
Changes in operating assets and liabilities:
Accounts receivable
(10,764
)
2,477
(2,559
)
Deferred income taxes
1,342
(4,095
)
(1,801
)
Restricted cash
1,117
(3,327
)
(2,428
)
Income taxes receivable
852
—
—
Prepaid expenses and other current assets
5,203
(5,248
)
2,979
Other assets
(2,161
)
(649
)
(730
)
Accounts payable
328
(1,331
)
(1,221
)
Accrued compensation
(3,246
)
3,612
(261
)
Accrued royalties
5,687
(6,162
)
5,436
Accrued expenses and other liabilities
(4,699
)
(2,645
)
10,152
Income taxes payable
(80
)
398
(1,456
)
Deferred rent
(1,219
)
(1,354
)
1,295
Deferred revenue
4,392
(4,701
)
(2,290
)
Net cash provided by (used in) operating activities
(7,696
)
(22,553
)
42,913
Investing activities
Purchases of property and equipment
(1,208
)
(1,053
)
(2,248
)
Additions to capitalized software
—
—
(
948
)
Purchases of short-term investments
(113,144
)
(66,350
)
(124,707
)
Purchases of long-term investments
(2,500
)
(600
)
(950
)
Proceeds from sales of long-term investments
376
795
—
Proceeds from sales and maturities of short-term investments
132,528
106,585
146,922
Acquisitions, net of cash acquired
—
(
19,245
)
(18,254
)
Net cash provided by (used in) investing activities
16,052
20,132
(185
)
Financing activities
Proceeds from exercise of stock options
4,412
896
2,792
Repurchase of common stock
(3,780
)
(7,899
)
(26,310
)
Tax withholdings related to net share settlements of restricted stock units
(3,103
)
(1,570
)
(51
)
Excess tax benefits from employee stock options
—
(
310
)
(305
)
Net cash used in financing activities
(2,471
)
(8,883
)
(23,874
)
Effect of exchange rate changes on cash and cash equivalents
(1,698
)
51
13
Net increase (decrease) in cash and cash equivalents
4,187
(11,253
)
18,867
Cash and cash equivalents, at beginning of period
14,534
25,787
6,920