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INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:      
Net Income (loss) $ (905) $ 4,132 $ 12,893
Adjustments required to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 4,553 4,676  
Stock based compensation expense 1,941 923  
Foreign currency translation (47) (6)  
Accrued interest, net (203)  
Deferred taxes, net (1,952) (860)  
Accrued severance pay, net 33 (218)  
Fair value revaluation - convertible debt 600  
Loss from sale of property and equipment 84  
Net changes in operating assets and liabilities      
Accounts receivable, net 5,510 16,583  
Other receivables and prepaid expenses 44 373  
Other assets 125 208  
Lease right-of-use assets 1,694 1,896  
Lease liabilities (1,827) (844)  
Accounts payable (9,270) (1,444)  
Accrued expenses and other liabilities (285) (3,511)  
Deferred revenues (250) (262)  
Payment obligation related to acquisition 3,199 347  
Net cash provided by operating activities 2,647 22,390  
Cash flows from investing activities:      
Purchases of property and equipment (113) (341)  
Short-term deposits, net 6,362 (2,000)  
Cash paid in connection with acquisitions, net of cash acquired (16,145) (1,200)  
Obligation in connection with acquisitions 2,349  
Net cash used in investing activities (7,547) (3,541)  
Cash flows from financing activities:      
Exercise of stock options and restricted share units 1,741 129  
Payment made in connection with acquisition (1,813)  
Repayment of convertible debt (15,850)  
Repayment of long-term loans (4,166) (4,166)  
Net cash used in financing activities (2,425) (21,700)  
Effect of exchange rate changes on cash and cash equivalents and restricted cash (73) (102)  
Net decrease in cash and cash equivalents and restricted cash (7,398) (2,953)  
Cash and cash equivalents and restricted cash at beginning of period 39,605 40,803 40,803
Cash and cash equivalents and restricted cash at end of period 32,207 37,850 39,605
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet      
Cash and cash equivalents 30,986 36,144 38,389
Restricted cash included in Long-term interest-bearing bank deposits 1,221 1,706  
Cash and cash equivalents and restricted cash at end of period 32,207 37,850 $ 39,605
Cash paid during the year for:      
Income taxes 613 1,834  
Interest 578 1,507  
Non-cash investing and financing activities:      
Creation of operating lease right-of-use assets 25,537  
Purchase of property and equipment on credit $ 40 $ 11