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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating activities    
Net income (loss) $ 9,052 $ (12,151)
Loss on discontinued operations 4,042 1,948
Income (loss) from continuing operations 13,094 (10,203)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Stock-based compensation expense 3,230 3,923
Depreciation and amortization 1,856 2,016
Operating lease amortization, net of accretion 1,321 0
Accretion of net premium on short-term investments 75 0
Unrealized gain on non-marketable equity investments (62) (1,259)
Equity in net income of equity method investee (797) 0
Other (1) (14)
Changes in operating assets and liabilities:    
Accounts receivable 25,835 3,390
Deferred income taxes (409) 445
Deferred costs (1,961) (7,040)
Prepaid expenses and other current assets (3,992) 216
Other assets 21 (116)
Trade accounts payable (15,054) 9,812
Accrued expenses and other liabilities 3,945 (9,575)
Income taxes payable 130 39
Deferred rent 0 91
Operating lease liabilities (1,754) 0
Deferred revenue 9,036 13,234
Net cash provided by operating activities 34,513 4,959
Investing activities    
Purchases of property and equipment (1,078) (445)
Purchases of short-term investments (54,439) (15,862)
Purchase of long-term investments (3,500) 0
Proceeds from sales and maturities of short-term investments 24,067 20,342
Net cash provided by (used in) investing activities (34,950) 4,035
Financing activities    
Proceeds from exercise of stock options 8,306 26
Tax withholdings related to net share settlements of restricted stock units (1,148) (1,559)
Repurchase of common stock (4,019) 0
Net cash provided by (used in) financing activities 3,139 (1,533)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (85) (360)
Net increase in cash, cash equivalents and restricted cash, continuing operations 2,617 7,101
Net cash used in discontinued operations (3,975) (2,319)
Cash, cash equivalents and restricted cash, beginning of period 29,225 20,099
Cash, cash equivalents and restricted cash, end of period 27,867 24,881
Supplemental disclosure of cash flow information    
Income taxes paid, net 1,279 586
Non-cash investing: Investment in LLC acquired in exchange for sale of Advertising business 15,600 0
Cash flows from discontinued operations:    
Net cash used in operating activities (3,569) (2,319)
Net cash used in financing activities (406) 0
Net cash transferred from continuing operations 3,975 2,319
Net change in cash and cash equivalents from discontinued operations 0 0
Cash and cash equivalents of discontinued operations, beginning of period 0 0
Cash and cash equivalents of discontinued operations, end of period 0 0
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets    
Total cash and cash equivalents $ 27,867 $ 24,881