TiVo 2004 Annual Report Download - page 60

Table of Contents
Index to Financial Statements
TIVO INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Year Ended
January 31,
2005
Year Ended
January 31,
2004
Year Ended
January 31,
2003
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $ (79,842) $ (32,018) $ (80,596)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization of property and equipment and intangibles 4,896 5,489 6,757
Loss on disposal of fixed assets 13 44 —
Leasehold improvement impairment — — 605
Issuance of common stock warrants for marketing services — — 23
Amortization of prepaid advertising (change includes $5,000 from related parties for the year ended January 31,
2003) — 1,003 6,565
Non-cash interest expense 4,854 8,139 24,200
Amortization of prepaid marketing related to value of warrants — — 11,615
Recognition of stock-based compensation expense 1,056 173 503
Amortization of note receivable — 627 941
Changes in assets and liabilities:
Accounts receivable, net (change includes $1,500, $(229), and $5,416 from related parties for the years ended
January 31, 2005, 2004, and 2003, respectively) (13,748) (5,021) 1,762
Finished goods inventories (3,537) (1,293) (7,273)
Prepaid expenses and other, current (change includes $2,832, $19, and $(310) to related parties for the years
ended January 31, 2005, 2004, and 2003, respectively) 157 (711) (826)
Prepaid expenses and other, long-term (change includes $3,268, $1,706, and $(92) to related parties for the
years ended January 31, 2005, 2004, and 2003, respectively) 2,641 2,487 1,031
Accounts payable 3,708 (232) 8,257
Accrued liabilities (change includes $(880), $(2,479), and $(23,281) to related parties for the years ended
January 31, 2005, 2004, and 2003, respectively) 17,354 (1,214) (17,919)
Notes payable-related parties, current — — (2,262)
Deferred revenue, current (change includes $(1,814), $(4,263), and $(5,350) from related parties for the years
ended January 31, 2005, 2004, and 2003, respectively) 7,765 4,175 5,864
Deferred revenue, long-term 17,096 13,662 8,821
Deferred rent and other long-term liabilities 373 (2,969) (1,238)
Net cash used in operating activities (37,214) (7,659) (33,170)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of short-term investments (23,150) (4,900) (3,800)
Sales of short-term investments 9,075 3,675 5,800
Acquisition of property and equipment, net (3,924) (2,085) (1,359)
Acquisition of capitalized software and intangibles (100) (350) —
Net cash used in investing activities (18,099) (3,660) 641
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowing under bank line of credit 4,500 — —
Proceeds from issuance of common stock and warrants — — 25,000
Payment of issuance costs for common stock and warrants — — (650)
Proceeds from issuance of common stock — 101,023 —
Payment of issuance costs for common stock — (843) —
Payment of redemption of convertible notes payable (4,250) — —
Proceeds from issuance of common stock related to employee stock purchase plan 2,409 1,734 1,275
The accompanying notes are an integral part of these statements.
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