Integral Ad Science Holding Corp(NASDAQ:IAS) 
Integral Ad Science Holding Corp. operates as a digital advertising verification company in the United States, the United Kingdom, Ireland, France, Germany, Spain, Italy, Singapore, Australia, Japan, India, and the Nordics. The company provides IAS Signal, a cloud-based technology platform enables c...
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
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revenue | 154,358,000 | 149,204,000 | 134,066,000 | 153,038,000 | 133,528,000 | 129,005,000 | 114,530,000 | 134,295,000 | 120,331,000 | 113,651,000 | 106,092,000 | 117,435,000 | 101,343,000 | 100,328,000 | 89,242,000 | 102,472,000 | 79,014,000 | 75,075,000 |
yoy | 15.60% | 15.66% | 17.06% | 13.96% | 10.97% | 13.51% | 7.95% | 14.36% | 18.74% | 13.28% | 18.88% | 14.60% | 28.26% | 33.64% | ||||
qoq | 3.45% | 11.29% | -12.40% | 14.61% | 3.51% | 12.64% | -14.72% | 11.60% | 5.88% | 7.12% | -9.66% | 15.88% | 1.01% | 12.42% | -12.91% | 29.69% | 5.25% | |
operating expenses: | ||||||||||||||||||
cost of revenue | 35,553,000 | 34,349,000 | 30,126,000 | 33,332,000 | 27,373,000 | 27,094,000 | 26,161,000 | 28,252,000 | 25,599,000 | 23,819,000 | 21,682,000 | 21,891,000 | 19,171,000 | 18,132,000 | 16,561,000 | 16,381,000 | 13,846,000 | 12,925,000 |
sales and marketing | 36,317,000 | 35,798,000 | 32,128,000 | 30,753,000 | 30,144,000 | 29,572,000 | 31,825,000 | 30,423,000 | 29,604,000 | 31,702,000 | 26,260,000 | 28,325,000 | 28,190,000 | 26,482,000 | 23,057,000 | 23,454,000 | 19,574,000 | 27,268,000 |
technology and development | 22,632,000 | 20,099,000 | 19,700,000 | 17,546,000 | 16,840,000 | 17,487,000 | 17,978,000 | 19,056,000 | 17,211,000 | 21,110,000 | 15,529,000 | 22,280,000 | 19,459,000 | 17,624,000 | 16,987,000 | 19,465,000 | 14,609,000 | 20,176,000 |
general and administrative | 33,715,000 | 26,546,000 | 26,196,000 | 24,310,000 | 25,348,000 | 24,679,000 | 21,380,000 | 25,961,000 | 22,611,000 | 42,339,000 | 20,723,000 | 23,573,000 | 20,150,000 | 18,834,000 | 16,769,000 | 21,525,000 | 16,089,000 | 33,044,000 |
depreciation and amortization | 17,900,000 | 17,242,000 | 16,463,000 | 16,934,000 | 16,243,000 | 15,709,000 | 15,080,000 | 14,593,000 | 14,027,000 | 13,521,000 | 12,825,000 | 12,811,000 | 12,617,000 | 12,510,000 | 12,458,000 | 17,188,000 | 16,100,000 | 14,603,000 |
foreign exchange loss | 667,000 | -5,782,000 | -1,998,000 | 4,650,000 | -2,607,000 | 315,000 | 1,569,000 | -501,000 | 2,078,000 | 1,246,000 | 4,064,000 | |||||||
total operating expenses | 146,784,000 | 128,252,000 | 122,615,000 | 127,525,000 | 113,341,000 | 114,856,000 | 113,993,000 | 117,784,000 | 111,130,000 | 131,860,000 | 96,503,000 | 110,126,000 | 103,651,000 | 93,582,000 | 85,832,000 | 104,613,000 | 80,218,000 | 108,016,000 |
operating income | 7,574,000 | 20,952,000 | 11,451,000 | 25,513,000 | 20,187,000 | 14,149,000 | 537,000 | 16,511,000 | 9,201,000 | -18,209,000 | 9,589,000 | 7,309,000 | -2,308,000 | 6,746,000 | 3,410,000 | -2,141,000 | -1,204,000 | -32,941,000 |
yoy | -62.48% | 48.08% | 2032.40% | 54.52% | 119.40% | -177.70% | -94.40% | 125.90% | -498.66% | -369.92% | 181.20% | -441.38% | 91.69% | -120.48% | ||||
qoq | -63.85% | 82.97% | -55.12% | 26.38% | 42.67% | 2534.82% | -96.75% | 79.45% | -150.53% | -289.89% | 31.19% | -416.68% | -134.21% | 97.83% | -259.27% | 77.82% | -96.34% | |
operating margin % | 4.91% | 14.04% | 8.54% | 16.67% | 15.12% | 10.97% | 0.47% | 12.29% | 7.65% | -16.02% | 9.04% | 6.22% | -2.28% | 6.72% | 3.82% | -2.09% | -1.52% | -43.88% |
interest income | 595,000 | 157,000 | ||||||||||||||||
net income before income taxes | 8,169,000 | 21,109,000 | 11,379,000 | 24,942,000 | 18,862,000 | 12,613,000 | -1,389,000 | -2,291,500 | 6,092,000 | -21,430,000 | 6,172,000 | 2,242,500 | 2,054,000 | 4,932,000 | 1,984,000 | |||
provision for income taxes | -1,124,000 | -4,701,000 | -3,026,000 | |||||||||||||||
net income | 7,045,000 | 16,408,000 | 7,993,000 | 15,271,000 | 16,089,000 | 7,690,000 | -1,255,000 | 10,164,000 | -13,749,000 | 7,677,000 | 3,146,000 | 11,486,000 | 767,000 | 1,961,000 | 1,159,000 | -4,822,000 | -9,780,000 | -35,063,000 |
yoy | -56.21% | 113.37% | -736.89% | 50.25% | -217.02% | 0.17% | -139.89% | -11.51% | -1892.57% | 291.48% | 171.44% | -338.20% | -107.84% | -105.59% | ||||
qoq | -57.06% | 105.28% | -47.66% | -5.08% | 109.22% | -712.75% | -112.35% | -173.93% | -279.09% | 144.02% | -72.61% | 1397.52% | -60.89% | 69.20% | -124.04% | -50.70% | -72.11% | |
net income margin % | 4.56% | 11.00% | 5.96% | 9.98% | 12.05% | 5.96% | -1.10% | 7.57% | -11.43% | 6.75% | 2.97% | 9.78% | 0.76% | 1.95% | 1.30% | -4.71% | -12.38% | -46.70% |
net income per share | 0.04 | 0.1 | 0.05 | 0.035 | 0.1 | 0.05 | -0.01 | 0.05 | 0.02 | 0.01 | 0.01 | -0.03 | -0.06 | -0.26 | ||||
weighted-average shares outstanding: | ||||||||||||||||||
basic | 166,473,735 | 165,018,978 | 163,646,444 | 161,060,227 | 161,663,506 | 160,502,795 | 159,385,167 | 156,272,335 | 157,055,904 | 155,425,264 | 154,315,219 | 154,699,694 | 155,389,195 | 155,140,684 | 154,477,403 | |||
diluted | 169,800,709 | 167,347,688 | 166,811,853 | 165,465,836 | 165,084,108 | 163,748,596 | 159,385,167 | 161,723,131 | 157,055,904 | 162,634,310 | 157,884,615 | 157,258,083 | 156,696,754 | 156,973,684 | 157,159,026 | |||
other comprehensive income: | ||||||||||||||||||
foreign currency translation adjustments | 94 | 3,306 | 1,806 | -2,390 | 892 | -193 | -1,059 | 2,772 | -1,717 | -221 | 1,149 | 8,634 | -3,248 | -6,996 | -974 | -1,103 | -2,549 | 718 |
total comprehensive income | 7,139 | 19,714 | 9,799 | 12,881 | 16,981 | 7,497 | -2,314 | 7,456 | 4,295 | 185 | ||||||||
interest expense | -72,000 | -571,000 | -1,325,000 | -1,536,000 | -1,926,000 | -2,489,000 | -3,109,000 | -3,221,000 | -3,417,000 | -3,194,000 | -2,619,000 | -1,814,000 | -1,426,000 | -1,364,000 | -5,753,000 | -5,167,000 | ||
benefit for income taxes | -3,386,000 | -9,671,000 | -2,773,000 | -4,923,000 | ||||||||||||||
benefit from income taxes | 134,000 | -3,858,000 | -19,841,000 | 29,107,000 | 7,371,000 | -1,287,000 | -2,971,000 | -825,000 | -1,317,000 | 898,000 | 3,045,000 | |||||||
employee retention tax credit | 6,981,000 | |||||||||||||||||
net income per share | 0.04 | 0.1 | 0.05 | 0.035 | 0.1 | 0.05 | -0.01 | 0.05 | 0.02 | 0.01 | 0.01 | -0.03 | -0.06 | -0.26 | ||||
basic | 0.07 | -0.09 | 0.008 | |||||||||||||||
diluted | 0.06 | -0.09 | 0.005 | |||||||||||||||
other comprehensive loss: | ||||||||||||||||||
total comprehensive loss | -928.75 | -15,466 | -1,832.75 | -2,481 | -5,035 | -5,925 | -12,329 | -34,345 | ||||||||||
foreign exchange gain | -631,000 | -516,000 | ||||||||||||||||
loss on extinguishment of debt | -3,721,000 | |||||||||||||||||
net loss before benefit from income taxes | -3,505,000 | -10,678,000 | -38,108,000 | |||||||||||||||
basic and diluted weighted-average shares outstanding | 143,535,546 | 151,988,054 | 133,981,985 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||
current assets: | ||||||||||||||||||
cash and cash equivalents | 129,204,000 | 90,687,000 | 59,120,000 | 84,469,000 | 57,085,000 | 70,603,000 | 83,947,000 | 124,759,000 | 92,248,000 | 98,799,000 | 94,427,000 | 86,877,000 | 73,645,000 | 77,366,000 | 82,255,000 | 73,210,000 | 63,777,000 | 73,234,000 |
restricted cash | 294,000 | 549,000 | 288,000 | 506,000 | 170,000 | 275,000 | 298,000 | 54,000 | 127,000 | 70,000 | 308,000 | 45,000 | 141,000 | 189,000 | 78,000 | 70,000 | 213,000 | 75,000 |
accounts receivable | 79,515,000 | 79,561,000 | 86,866,000 | 79,427,000 | 81,168,000 | 75,233,000 | 67,764,000 | 74,609,000 | 86,682,000 | 73,187,000 | 62,739,000 | 67,884,000 | 57,849,000 | 60,186,000 | 53,956,000 | 53,028,000 | 45,589,000 | 41,491,000 |
unbilled receivables | 54,093,000 | 51,576,000 | 51,053,000 | 53,388,000 | 48,421,000 | 45,320,000 | 43,198,000 | 46,548,000 | 41,857,000 | 39,460,000 | 40,376,000 | 41,550,000 | 35,486,000 | 34,076,000 | 35,549,000 | 36,210,000 | 27,128,000 | 25,246,000 |
prepaid expenses and other current assets | 54,093,000 | 46,125,000 | 41,008,000 | 36,639,000 | 38,030,000 | 38,251,000 | 32,468,000 | 18,959,000 | 18,853,000 | 11,766,000 | 21,368,000 | 24,761,000 | 20,835,000 | 11,749,000 | 9,768,000 | 7,632,000 | 10,154,000 | 12,701,000 |
due from related party | 13,000 | 7,000 | 7,000 | 28,000 | 20,000 | 20,000 | 20,000 | 29,000 | 15,000 | |||||||||
total current assets | 317,212,000 | 268,505,000 | 238,342,000 | 254,457,000 | 224,874,000 | 229,682,000 | 227,675,000 | 264,929,000 | 239,787,000 | 223,302,000 | 219,238,000 | 221,146,000 | 187,956,000 | 183,566,000 | 181,606,000 | 170,165,000 | 146,861,000 | 152,747,000 |
property and equipment | 3,602,000 | 3,880,000 | 3,941,000 | 4,004,000 | 4,077,000 | 4,076,000 | 4,088,000 | 3,769,000 | 3,506,000 | 3,837,000 | 3,871,000 | 2,412,000 | 1,591,000 | 1,583,000 | 1,378,000 | 1,413,000 | 1,417,000 | 1,495,000 |
internal use software | 61,714,000 | 59,923,000 | 56,428,000 | 53,636,000 | 51,546,000 | 47,578,000 | 43,729,000 | 40,301,000 | 36,079,000 | 31,746,000 | 27,543,000 | 23,642,000 | 21,556,000 | 19,964,000 | 18,808,000 | 18,100,000 | 17,511,000 | 16,918,000 |
intangible assets | 115,631,000 | 124,204,000 | 132,533,000 | 140,943,000 | 150,618,000 | 159,825,000 | 169,316,000 | 178,908,000 | 188,402,000 | 198,273,000 | 207,968,000 | 217,558,000 | 226,922,000 | 237,475,000 | 248,102,000 | 258,316,000 | 265,303,000 | 218,820,000 |
goodwill | 677,635,000 | 677,752,000 | 674,505,000 | 673,025,000 | 675,538,000 | 674,350,000 | 674,454,000 | 675,282,000 | 673,755,000 | 674,866,000 | 674,754,000 | 674,094,000 | 670,978,000 | 673,501,000 | 675,632,000 | 676,513,000 | 649,780,000 | 458,276,000 |
operating lease right-of-use assets | 20,583,000 | 23,076,000 | 18,811,000 | 17,888,000 | 20,472,000 | 21,223,000 | 19,766,000 | 21,668,000 | 22,368,000 | 23,572,000 | 21,246,000 | 22,787,000 | 19,031,000 | 20,763,000 | 20,150,000 | |||
deferred tax asset | 2,439,000 | 6,198,000 | 1,731,000 | 1,675,000 | 2,544,000 | 2,438,000 | 2,433,000 | 2,465,000 | 1,673,000 | 1,743,000 | 1,718,000 | 2,020,000 | 812,000 | 848,000 | 876,000 | 887,000 | ||
other long-term assets | 9,002,000 | 8,711,000 | 6,061,000 | 5,943,000 | 5,029,000 | 4,950,000 | 4,361,000 | 4,402,000 | 4,705,000 | 4,711,000 | 5,083,000 | 5,024,000 | 4,292,000 | 4,366,000 | 4,313,000 | 4,143,000 | 4,010,000 | 4,057,000 |
total assets | 1,207,818,000 | 1,172,249,000 | 1,132,352,000 | 1,151,571,000 | 1,134,698,000 | 1,144,122,000 | 1,145,822,000 | 1,191,724,000 | 1,170,275,000 | 1,162,050,000 | 1,161,421,000 | 1,168,683,000 | 1,133,138,000 | 1,142,066,000 | 1,150,865,000 | 1,129,537,000 | 1,084,882,000 | 852,313,000 |
liabilities and stockholders’ equity | ||||||||||||||||||
current liabilities: | ||||||||||||||||||
accounts payable and accrued expenses | 58,447,000 | 60,765,000 | 47,732,000 | 72,910,000 | 48,874,000 | 51,096,000 | 42,176,000 | 72,232,000 | 59,748,000 | 50,322,000 | 47,518,000 | 60,799,000 | 44,011,000 | 41,562,000 | 47,684,000 | 56,257,000 | 43,099,000 | 44,732,000 |
operating lease liabilities, current | 11,357,000 | 11,660,000 | 10,801,000 | 10,184,000 | 9,119,000 | 9,435,000 | 9,031,000 | 7,982,000 | 6,387,000 | 6,749,000 | 6,856,000 | 7,096,000 | 5,772,000 | |||||
due to related party | 4,000 | 2,000 | 11,000 | 2,000 | 83,000 | 121,000 | 38,000 | 13,000 | 179,000 | 122,000 | 104,000 | 166,000 | 97,000 | 74,000 | 62,000 | 67,000 | ||
deferred revenue | 1,834,000 | 1,251,000 | 841,000 | 1,061,000 | 1,454,000 | 558,000 | 1,318,000 | 682,000 | 237,000 | 431,000 | 622,000 | 99,000 | 287,000 | 395,000 | 370,000 | 160,000 | 568,000 | 754,000 |
total current liabilities | 71,642,000 | 73,678,000 | 59,374,000 | 84,166,000 | 60,572,000 | 61,137,000 | 52,696,000 | 82,470,000 | 69,054,000 | 58,748,000 | 54,706,000 | 67,769,000 | 51,258,000 | 49,219,000 | 53,923,000 | 56,491,000 | 43,779,000 | 45,658,000 |
deferred tax liability | 8,991,000 | 1,727,000 | 3,118,000 | 4,989,000 | 16,884,000 | 20,330,000 | 20,367,000 | 45,495,000 | ||||||||||
long-term debt | 14,305,000 | 34,189,000 | 64,073,000 | 93,957,000 | 123,841,000 | 153,725,000 | 173,609,000 | 193,493,000 | 213,378,000 | 223,262,000 | 233,146,000 | 233,030,000 | 242,914,000 | 242,798,000 | 232,682,000 | 352,095,000 | ||
operating lease liabilities, non-current | 13,421,000 | 16,143,000 | 13,177,000 | 13,374,000 | 16,391,000 | 18,397,000 | 17,707,000 | 19,523,000 | 20,299,000 | 22,461,000 | 21,720,000 | 22,875,000 | 19,358,000 | 21,126,000 | 21,878,000 | |||
other long-term liabilities | 8,808,000 | 8,810,000 | 8,743,000 | 8,713,000 | 6,186,000 | 6,171,000 | 6,172,000 | 6,183,000 | 4,296,000 | 1,162,000 | 1,113,000 | 1,066,000 | 1,639,000 | 1,639,000 | 1,639,000 | 8,681,000 | ||
total liabilities | 102,862,000 | 98,631,000 | 97,326,000 | 143,560,000 | 152,211,000 | 196,546,000 | 220,746,000 | 282,268,000 | 291,629,000 | 283,836,000 | 333,657,000 | 360,467,000 | 357,955,000 | 357,500,000 | 372,824,000 | 362,347,000 | 331,250,000 | 418,474,000 |
commitments and contingencies | ||||||||||||||||||
stockholders’ equity | ||||||||||||||||||
preferred stock, 0.001 par value... | ||||||||||||||||||
common stock, 0.001 par value... | 166,000 | 165,000 | 164,000 | 163,000 | 162,000 | 161,000 | 160,000 | 159,000 | 158,000 | 156,000 | 154,000 | 154,000 | 153,000 | 155,000 | 155,000 | 154,000 | 154,000 | 134,000 |
additional paid-in-capital | 1,025,055,000 | 1,000,857,000 | 981,980,000 | 964,765,000 | 952,123,000 | 934,194,000 | 919,192,000 | 901,259,000 | 883,386,000 | 867,490,000 | 824,498,000 | 810,186,000 | 797,274,000 | 804,175,000 | 792,616,000 | 781,951,000 | 762,470,000 | 430,368,000 |
accumulated other comprehensive income | 1,540,000 | 1,446,000 | -315,000 | 788,000 | 3,337,000 | |||||||||||||
retained earnings | 78,195,000 | 71,150,000 | 54,742,000 | 46,749,000 | 31,478,000 | 15,389,000 | 7,699,000 | -1,210,000 | 12,539,000 | 4,862,000 | ||||||||
total stockholders’ equity | 1,104,956,000 | 1,073,618,000 | 1,035,026,000 | 1,008,011,000 | 982,487,000 | 947,576,000 | 925,076,000 | 909,456,000 | 878,646,000 | 878,214,000 | 827,764,000 | 808,216,000 | 775,183,000 | 784,566,000 | 778,041,000 | |||
total liabilities and stockholders’ equity | 1,207,818,000 | 1,172,249,000 | 1,132,352,000 | 1,151,571,000 | 1,134,698,000 | 1,144,122,000 | 1,145,822,000 | 1,191,724,000 | 1,170,275,000 | 1,162,050,000 | 1,161,421,000 | 1,168,683,000 | 1,133,138,000 | 1,142,066,000 | 1,150,865,000 | |||
accumulated other comprehensive loss | -1,860,000 | -3,666,000 | -1,276,000 | -2,168,000 | -1,975,000 | -916,000 | -3,688,000 | -1,971,000 | -1,750,000 | -2,899,000 | -11,533,000 | -8,285,000 | -1,289,000 | |||||
operating lease liability | 10,242,000 | 9,483,000 | ||||||||||||||||
accumulated earnings | 8,954,000 | 775,000 | ||||||||||||||||
net deferred tax liability | 24,371,000 | 7,972,000 | 42,740,000 | 52,554,000 | 52,486,000 | 52,470,000 | 53,523,000 | 53,035,000 | 18,808,000 | |||||||||
accrued rent | 854,000 | 1,754,000 | 1,913,000 | |||||||||||||||
accumulated deficit | -10,711,000 | -11,479,000 | -13,441,000 | -14,600,000 | -9,780,000 | |||||||||||||
liabilities and members’/stockholders’ equity | ||||||||||||||||||
capital leases payable | 50,000 | 105,000 | ||||||||||||||||
members’/stockholders’ equity | ||||||||||||||||||
units, 4.1322314 par value, 0 units authorized at december 31, 2021, 0 units and 134,039,494 issued and outstanding at december 31, 2021 and 2020, respectively | ||||||||||||||||||
total members’/stockholders’ equity | 767,190,000 | 753,632,000 | 433,839,000 | |||||||||||||||
total liabilities and members’/stockholders’ equity | 1,129,537,000 | 1,084,882,000 | 852,313,000 | |||||||||||||||
units, 4.1322314 par value, 0 units authorized at september 30, 2021, 0 units and 134,039,494 issued and outstanding at september 30, 2021 and december 31, 2020, respectively | ||||||||||||||||||
units, 4.1322314 par value, 0 units authorized at june 30, 2021, 0 units and 134,039,494 issued and outstanding at june 30, 2021 and december 31, 2020, respectively |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||
net income | 7,045,000 | 16,408,000 | 7,993,000 | 15,271,000 | 16,089,000 | 7,690,000 | -1,255,000 | 10,164,000 | -13,749,000 | 7,677,000 | 3,146,000 | 11,486,000 | 767,000 | 1,961,000 | 1,159,000 | ||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||
depreciation and amortization | 17,900,000 | 17,242,000 | 16,463,000 | 16,934,000 | 16,243,000 | 15,709,000 | 15,080,000 | 14,593,000 | 14,027,000 | 13,521,000 | 12,825,000 | 12,811,000 | 12,617,000 | 12,510,000 | 12,458,000 | 17,188,000 | 16,100,000 |
stock-based compensation | 22,625,000 | 18,844,000 | 15,525,000 | 12,577,000 | 16,443,000 | 15,004,000 | 15,738,000 | 15,462,000 | 13,900,000 | 40,435,000 | 11,306,000 | 11,645,000 | 14,247,000 | 10,721,000 | 8,139,000 | 9,093,000 | 8,142,000 |
foreign currency gain | -561,000 | -678,000 | |||||||||||||||
deferred tax provision | |||||||||||||||||
amortization of debt issuance costs | 122,000 | 117,000 | 116,000 | 116,000 | 116,000 | 116,000 | 116,000 | 115,000 | 116,000 | 116,000 | 116,000 | 116,000 | 116,000 | 116,000 | 116,000 | 116,000 | 337,000 |
(reversal of) allowance for credit losses | -110,000 | -188,000 | |||||||||||||||
impairment of assets | 0 | 133,000 | 6,000 | 0 | 49,000 | ||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||
decrease in accounts receivable | -207,000 | 10,110,000 | -5,439,000 | 6,436,000 | 6,642,000 | 1,623,000 | -7,981,000 | -1,673,000 | -2,944,000 | ||||||||
decrease in unbilled receivables | -2,635,000 | 165,000 | 2,656,000 | -2,169,000 | 3,167,000 | 980,000 | 1,292,000 | -1,928,000 | 990,000 | 649,000 | -2,066,000 | ||||||
increase in prepaid expenses and other current assets | -8,642,000 | -2,728,000 | -3,429,000 | -3,884,000 | -2,197,000 | -1,948,000 | -2,612,000 | 2,534,000 | -3,360,000 | ||||||||
increase in operating leases | -517,000 | -501,000 | -526,000 | -350,000 | -279,000 | ||||||||||||
increase in other long-term assets | 1,437,000 | -19,000 | -727,000 | -4,000 | -141,000 | -185,000 | |||||||||||
decrease in accounts payable and accrued expenses and other long-term liabilities | -483,000 | 11,153,000 | -24,548,000 | 8,057,000 | -28,278,000 | ||||||||||||
increase in deferred revenue | 602,000 | 395,000 | -229,000 | -385,000 | 879,000 | -755,000 | 644,000 | 432,000 | -200,000 | -172,000 | 522,000 | -94,000 | 48,000 | 173,000 | |||
increase in due to/from related party | -4,000 | 2,000 | 10,000 | -39,000 | 121,000 | 25,000 | -165,000 | 47,000 | -12,000 | -34,000 | 74,000 | 34,000 | |||||
net cash from operating activities | 50,953,000 | 55,237,000 | 3,529,000 | 67,648,000 | 25,448,000 | 25,933,000 | -1,131,000 | 57,505,000 | 22,052,000 | 29,110,000 | 22,956,000 | 24,907,000 | 24,355,000 | 12,018,000 | 11,187,000 | 25,939,000 | 4,600,000 |
capital expenditures | -149,000 | -160,000 | -554,000 | -190,000 | -271,000 | -195,000 | -1,128,000 | -21,000 | -144,000 | -528,000 | -1,282,000 | -1,099,000 | -457,000 | 0 | 0 | -319,000 | -318,000 |
free cash flows | 50,804,000 | 55,077,000 | 2,975,000 | 67,458,000 | 25,177,000 | 25,738,000 | -2,259,000 | 57,484,000 | 21,908,000 | 28,582,000 | 21,674,000 | 23,808,000 | 23,898,000 | 12,018,000 | 11,187,000 | 25,620,000 | 4,282,000 |
cash flows from investing activities: | |||||||||||||||||
purchase of property and equipment | -149,000 | -160,000 | -554,000 | -190,000 | -271,000 | -195,000 | -1,128,000 | -21,000 | -144,000 | -528,000 | -1,282,000 | -1,099,000 | -457,000 | -319,000 | -318,000 | ||
acquisition and development of internal use software and other | -10,791,000 | -11,080,000 | -10,347,000 | -9,163,000 | -8,238,000 | -8,611,000 | -7,868,000 | -7,060,000 | -4,721,000 | -3,828,000 | -3,447,000 | -2,677,000 | |||||
net cash from investing activities | -10,940,000 | -11,240,000 | -10,901,000 | -10,082,000 | -10,303,000 | -9,868,000 | -10,291,000 | -9,225,000 | -8,755,000 | -8,396,000 | -8,342,000 | -5,820,000 | -4,284,000 | -5,183,000 | -3,005,000 | -23,241,000 | -168,755,000 |
cash flows from financing activities: | |||||||||||||||||
repayment of long-term debt | 0 | -15,000,000 | -20,000,000 | -30,000,000 | -30,000,000 | -30,000,000 | -30,000,000 | -20,000,000 | -20,000,000 | -20,000,000 | -85,000,000 | -10,000,000 | -15,000,000 | ||||
payments for debt issuance costs | 0 | ||||||||||||||||
proceeds from exercise of stock options | 96,000 | 0 | 0 | 313,000 | 2,405,000 | 591,000 | 1,247,000 | 2,527,000 | |||||||||
cash received from employee stock purchase program | 204,000 | 827,000 | 1,232,000 | 884,000 | 116,000 | 820,000 | 1,393,000 | 924,000 | 827,000 | 622,000 | 787,000 | 457,000 | |||||
net cash from financing activities | -1,456,000 | -14,173,000 | -18,768,000 | -29,020,000 | -29,884,000 | -29,180,000 | -28,294,000 | -16,671,000 | -18,582,000 | -16,500,000 | -7,098,000 | -8,276,000 | -20,691,000 | -9,102,000 | 598,000 | 6,983,000 | 156,322,000 |
net increase in cash, cash equivalents, and restricted cash | 38,557,000 | 28,546,000 | -14,739,000 | -13,115,000 | -39,716,000 | ||||||||||||
effect of exchange rate changes on cash, cash equivalents and restricted cash | -270,000 | 2,037,000 | 597,000 | 971,000 | -237,000 | -847,000 | -1,188,000 | -447,000 | 305,000 | -3,150,000 | -2,524,000 | 278,000 | -1,489,000 | ||||
cash, cash equivalents and restricted cash at beginning of period | 0 | 0 | 87,335,000 | 0 | 0 | 127,290,000 | 0 | 0 | 89,671,000 | 0 | 0 | 76,078,000 | 0 | ||||
cash, cash equivalents, and restricted cash at end of period | 38,287,000 | ||||||||||||||||
supplemental disclosures: | |||||||||||||||||
net cash paid during the period for: | |||||||||||||||||
interest | -584,000 | -408,000 | -23,000 | 288,000 | 999,000 | 1,735,000 | 1,879,000 | 2,349,000 | 3,018,000 | 2,858,000 | 3,004,000 | 2,963,000 | 2,523,000 | 1,727,000 | 1,298,000 | 5,399,000 | |
taxes | 3,604,000 | 12,434,000 | 822,000 | 4,858,000 | 10,017,000 | 19,657,000 | 268,000 | 624,000 | 4,752,000 | 4,674,000 | 935,000 | 4,579,000 | 1,719,000 | 9,121,000 | 977,000 | 268,000 | |
non-cash investing and financing activities: | |||||||||||||||||
property and equipment acquired included in accounts payable | -27,000 | -23,000 | 55,000 | 277,000 | -61,000 | 106,000 | 2,000 | 414,000 | -123,000 | -293,000 | 433,000 | -48,000 | -193,000 | 322,000 | 16,000 | -116,000 | |
internal use software acquired included in accounts payable | 10,000 | 69,000 | 520,000 | 305,000 | 88,000 | 573,000 | 432,000 | -147,000 | -150,000 | 1,309,000 | 132,000 | 255,000 | 2,000 | 1,128,000 | |||
lease liabilities arising from right-of-use assets | -16,000 | ||||||||||||||||
foreign currency loss | -6,307,000 | -2,486,000 | 4,673,000 | -3,339,000 | 169,000 | 1,395,000 | -1,055,000 | ||||||||||
deferred tax benefit | -6,194,000 | -1,447,000 | -960,000 | -12,001,000 | -3,451,000 | -5,000 | -3,557,000 | 19,561,000 | -34,768,000 | -2,767,000 | -8,223,000 | 71,000 | -9,000 | -719,000 | 304,000 | ||
reversal of credit losses | -1,134,000 | ||||||||||||||||
decrease in other long-term assets | 4,000 | -576,000 | 19,000 | ||||||||||||||
net decrease in cash, cash equivalents, and restricted cash | -26,140,000 | ||||||||||||||||
cash, cash equivalents and restricted cash at end of period | 61,792,000 | 86,727,000 | -6,473,000 | ||||||||||||||
lease liabilities arising from right of use assets | 2,993,000 | 832,000 | 5,089,000 | 189,000 | -23,048,000 | -1,113,000 | 2,336,000 | 28,107,000 | 3,410,000 | -2,008,000 | 572,000 | 27,650,000 | |||||
allowance for credit losses | -928,000 | 204,000 | 1,593,000 | 969,000 | 740,000 | 514,000 | |||||||||||
employee retention tax credit | 0 | ||||||||||||||||
increase in accounts receivable | 805,000 | -4,958,000 | 11,788,000 | -15,453,000 | |||||||||||||
increase in unbilled receivables | -5,646,000 | -4,315,000 | |||||||||||||||
decrease in prepaid expenses and other current assets | -54,000 | 880,000 | -5,789,000 | -13,759,000 | 567,000 | -6,768,000 | 9,556,000 | 3,063,000 | |||||||||
increase in accounts payable and accrued expenses and other long-term liabilities | 26,612,000 | ||||||||||||||||
payment for acquisitions, net of acquired cash | 0 | 1,000 | |||||||||||||||
repayment of short-term debt | 20,000 | 49,000 | 49,000 | -1,934,000 | |||||||||||||
proceeds from the revolver | 0 | 0 | 0 | 75,000,000 | |||||||||||||
payments for repurchase of common stock | 0 | ||||||||||||||||
effect of exchange rate changes on cash and cash equivalents, and restricted cash | |||||||||||||||||
cash, cash equivalents, and restricted cash, at beginning of year | |||||||||||||||||
cash, cash equivalents, and restricted cash, at end of year | |||||||||||||||||
net cash paid during the year for: | |||||||||||||||||
decrease in operating leases | -551,000 | -416,000 | -202,000 | 114,000 | 5,000 | 20,000 | |||||||||||
decrease in due to/from related party | 3,000 | ||||||||||||||||
development of internal use software and other | -10,032,000 | ||||||||||||||||
cash, cash equivalents, and restricted cash, at end of period | -13,768,000 | 97,492,000 | -3,770,000 | -4,792,000 | 85,137,000 | -9,322,000 | |||||||||||
loss on extinguishment of debt | |||||||||||||||||
facility exit costs | |||||||||||||||||
non-cash interest expense | 0 | -1,000 | |||||||||||||||
increase in accrued rent | 40,000 | 92,000 | |||||||||||||||
proceeds from initial public offering, net of underwriting discounts and commissions | 0 | ||||||||||||||||
payments for offering costs | -2,505,000 | ||||||||||||||||
principal payments on capital lease obligations | -51,000 | -56,000 | |||||||||||||||
cash paid for unit repurchases | 1,000 | ||||||||||||||||
cash paid during the year for: | |||||||||||||||||
conversion of members’ equity to additional paid-in capital | 0 | ||||||||||||||||
adjustments to reconcile net income to net cash from operating activities | |||||||||||||||||
increase in accounts payable and accrued expenses | 2,760,000 | -2,632,000 | |||||||||||||||
net increase in cash, cash equivalents and restricted cash | -5,285,000 | 4,214,000 | 7,516,000 | -620,000 | -2,267,000 | 8,780,000 | -7,833,000 | ||||||||||
cash paid during the period for: | |||||||||||||||||
decrease in accounts payable and accrued expenses | 2,848,000 | -13,073,000 | -6,520,000 | ||||||||||||||
exercise of stock options | 2,115,000 | 2,532,000 | 0 | 0 | |||||||||||||
foreign exchange loss | 1,730,000 | ||||||||||||||||
allowance for doubtful accounts | 1,190,000 | 2,260,000 | 665,000 | ||||||||||||||
write off of assets | |||||||||||||||||
decrease in deferred revenue | -186,000 | ||||||||||||||||
assets acquired under capital leases | |||||||||||||||||
extinguishment of debt | |||||||||||||||||
proceeds from the new revolver | |||||||||||||||||
deferred offering costs accrued, not yet paid | -450,000 | ||||||||||||||||
allowance for (reversal of) doubtful accounts | 171,000 | 314,000 | |||||||||||||||
initial public offering costs paid | |||||||||||||||||
operating leases | -195,000 | ||||||||||||||||
(purchase of) proceeds from sale of property and equipment | -328,000 | ||||||||||||||||
net loss | -4,822,000 | -9,783,000 | |||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||
loss on sale of assets | |||||||||||||||||
impairment of internal use software | |||||||||||||||||
increase in due from related party | |||||||||||||||||
decrease in due to related party | -23,000 | ||||||||||||||||
acquisition and development of internal use software | -2,691,000 | -2,233,000 | |||||||||||||||
repayment of debt | |||||||||||||||||
proceeds from issuance of debt | |||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities | |||||||||||||||||
changes in operating assets and liabilities, net of acquired business: | |||||||||||||||||
payment for the acquisition of publica, net of acquired cash | |||||||||||||||||
increase in taxes receivable | |||||||||||||||||
increase in due to related party | |||||||||||||||||
cash paid for share repurchases |