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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income for the period $ 15,398 $ 17,135 [1],[2] $ 22,327
Items not involving cash:      
Depreciation of property and equipment 8,961 5,722 [1] 3,727
Loss on write off of property and equipment 142 [1] 17
Amortization of debt discount and issuance costs 297 281 [1] 273
Amortization of intangible assets 10,333 9,243 [1] 8,400
Net amortization contract costs (10) 14 [1]
Impairment of indefinite life intangible asset 111
Deferred income taxes (recovery) 1,285 1,038 [1] (3,337)
Excess tax benefits on share-based compensation expense (634) (697) [1] (2,796)
Amortization of deferred rent (14) [1] 6
Net Right of use operating assets/Operating lease liability (32) [1]
Loss on disposal of domain names 115 341 [1] 291
Other income (429) [1] (515)
Loss (gain) on change in the fair value of forward contracts (313) 207 [1] 17
Stock-based compensation 2,876 2,574 [1] 1,457
Change in non-cash operating working capital:      
Accounts receivable (3,015) 1,539 [1] 1,010
Inventory 318 (831) [1] (1,733)
Prepaid expenses and deposits 2,904 (1,286) [1] (1,642)
Prepaid domain name registry and ancillary services fees 7,678 20,476 [1] 4,030
Income taxes recoverable (89) 2,691 [1] (426)
Accounts payable (1,222) 171 [1] (3,826)
Accrued liabilities 2,329 (513) [1] (1,275)
Customer deposits 27 (3,336) [1] 1,085
Deferred revenue (6,900) (16,888) [1] 4,933
Accreditation fees payable (67) (229) [1] (238)
Net cash provided by operating activities 40,381 37,209 [1] 31,896
Financing activities:      
Proceeds received on exercise of stock options 395 112 222
Payment of tax obligations resulting from net exercise of stock options (548) (445) [1] (1,462)
Repurchase of common stock (4,986) [1]
Proceeds received on loan payable 57,371 7,000 [1] 86,998
Repayment of loan payable (8,130) (19,596) [1] (19,976)
Payment of loan payable costs (641) (8) [1] (620)
Net cash (used in) provided by financing activities 43,461 (12,937) [1] 65,162
Investing activities:      
Additions to property and equipment (44,070) (27,919) [1] (12,935)
Acquisition of a portion of the minority interest in Ting Virginia, LLC (note 3(a)) (1,200) [1] (2,000)
Acquisition of intangible assets (3,566) (565) [1] (2,942)
Net cash used in investing activities (76,086) (29,684) [1] (94,114)
Increase (decrease) in cash and cash equivalents 7,756 (5,412) [1] 2,944
Cash and cash equivalents, beginning of period 12,637 [1],[3] 18,049 [1] 15,105
Cash and cash equivalents, end of period 20,393 12,637 [1],[3] 18,049 [1]
Supplemental cash flow information:      
Interest paid 4,785 3,712 [1] 3,587
Income taxes paid, net 7,941 6,799 [1] 7,815
Supplementary disclosure of non-cash investing and financing activities:      
Property and equipment acquired during the period not yet paid for 548 1,462 [1] 214
eNom, Incorporated [Member]      
Investing activities:      
Acquisition of business, net of cash (76,237)
Ascio Technologies, Inc. [Member]      
Investing activities:      
Acquisition of business, net of cash $ (28,450) [1]
[1] The Company has initially applied ASC 2014-09 (Topic 606) on January 1, 2018 and ASC 2016-02 (Topic 842) on January 1, 2019. Both accounting standards were adopted using the modified retrospective method, under this method the comparative periods were not restated.
[2] The Company has initially applied ASC 2016-02 (Topic 842) on January 1, 2019 using the modified retrospective method (note 2(v)). Under this method, the comparative information is not restated.
[3] The Company has initially applied ASC 2016-02 (Topic 842) on January 1, 2019 using the modified retrospective method (note 2(v)). Under this method, the comparative information is not restated.