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Table of Contents
TIVO INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Fiscal Year Ended January 31,
2006 2005 2004
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(34,398) $(79,842) $ (32,018)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization of property and equipment and intangibles 6,345 4,896 5,489
Loss on disposal of fixed assets 2 13 44
Amortization of prepaid advertising — — 1,003
Non-cash interest expense — 4,854 8,139
Recognition of stock-based compensation expense 385 1,056 173
Amortization of notes receivable — — 627
Changes in assets and liabilities:
Accounts receivable, net (change includes $1,500 and $(229) from related parties for the fiscal years ended
January 31, 2005 and 2004, respectively) 5,768 (13,748) (5,021)
Finished goods inventories 1,165 (3,537) (1,293)
Prepaid expenses and other, current (change includes $2,832 and $19 to related for the fiscal years ended
January 31, 2005 and 2004, respectively) (6,593) 157 (711)
Prepaid expenses and other, long-term (change includes $3,268 and $1,706 to related parties for the fiscal years
ended January 31, 2005 and 2004, respectively) 615 2,641 2,487
Accounts payable 5,314 3,708 (232)
Accrued liabilities (change includes $(880) and $(2.479) to related parties for the fiscal years ended January 31,
2005 and 2004, respectively) 4,276 17,354 (1,214)
Deferred revenue, current (change includes $(1,814), and $(4,263) from related parties for the fiscal years ended
January 31, 2005 and 2004, respectively) 15,885 7,765 4,175
Deferred revenue, long-term 4,444 17,096 13,662
Deferred rent and other long-term liabilities 217 373 (2,969)
Net cash provided by (used in) operating activities $ 3,425 $(37,214) $ (7,659)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of short-term investments (15,502) (23,150) (4,900)
Sales of short-term investments 15,687 9,075 3,675
Acquisition of property and equipment (7,075) (3,924) (2,085)
Acquisition of capitalized software and intangibles (3,915) (100) (350)
Net cash used in investing activities $(10,805) $(18,099) $ (3,660)
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowing under bank line of credit 3,500 4,500 —
Payments to bank line of credit (8,000) — —
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 2,922 2,409 1,734
Proceeds from issuance of common stock related to exercise of common stock options 7,011 1,689 7,214
Net cash provided by financing activities $ 5,433 $ 4,348 $109,128
NET DECREASE IN CASH AND CASH EQUIVALENTS $ (1,947) $(50,965) $ 97,809
The accompanying notes are an integral part of these consolidated statements.
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