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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities:      
Net income for the year $ 17,135 $ 22,327 [1],[2] $ 16,067 [1],[2]
Items not involving cash:      
Depreciation of property and equipment 5,722 3,727 [2] 1,824 [2]
Loss on write off of property and equipment (17) [2] [2]
Amortization of debt discount and issuance costs 281 273 [2] 31 [2]
Amortization of intangible assets 9,243 8,400 [2] 953 [2]
Net amortization contract costs 14 [2] [2]
Impairment of indefinite life intangible asset 111 [2] 43 [2]
Deferred income taxes (recovery) 1,038 (3,337) [2] 1,194 [2]
Excess tax benefits on share-based compensation expense (697) (2,796) [2] 859 [2]
Amortization of deferred rent (14) 6 [2] 25 [2]
Loss on disposal of domain names 341 291 [2] 30 [2]
Other income (429) (515) [2] (515) [2]
Loss (gain) on change in the fair value of forward contracts 207 17 [2] (323) [2]
Stock-based compensation 2,574 1,457 [2] 799 [2]
Change in non-cash operating working capital:      
Accounts receivable 1,539 1,010 [2] (3,754) [2]
Inventory (831) (1,733) [2] (307) [2]
Prepaid expenses and deposits (1,286) (1,642) [2] (1,183) [2]
Prepaid domain name registry and ancillary services fees 20,476 4,030 [2] (4,641) [2]
Income taxes recoverable 2,691 (426) [2] 3,177 [2]
Accounts payable 171 (3,826) [2] 391 [2]
Accrued liabilities (513) (1,275) [2] 1,243 [2]
Customer deposits (3,336) 1,085 [2] 282 [2]
Deferred revenue (16,888) 4,933 [2] 6,255 [2]
Accreditation fees payable (229) (238) [2] 59 [2]
Net cash provided by operating activities 37,209 31,896 [2] 22,509 [2]
Financing activities:      
Proceeds received on exercise of stock options 112 222 146
Payment of tax obligations resulting from net exercise of stock options (445) (1,462) [2] (363) [2]
Repurchase of common stock [2] (7,180) [2]
Proceeds received on loan payable 7,000 86,998 [2] 16,989 [2]
Repayment of loan payable (19,596) (19,976) [2] (9,758) [2]
Payment of loan payable costs (8) (620) [2] (514) [2]
Net cash (used in) provided by financing activities (12,937) 65,162 [2] (680) [2]
Investing activities:      
Additions to property and equipment (27,919) (12,935) [2] (7,918) [2]
Acquisition of a portion of the minority interest in Ting Virginia, LLC (note 3(a)) (1,200) (2,000) [2] [2]
Acquisition of Enom Incorporated, net of cash (note 3(b)) (76,237) [2] [2]
Acquisition of intangible assets (565) (2,942) [2] (6,529) [2]
Net cash used in investing activities (29,684) (94,114) (14,447) [2]
(Decrease) increase in cash and cash equivalents (5,412) 2,944 [2] 7,382 [2]
Cash and cash equivalents, beginning of period [2] 18,049 [3] 15,105 7,723
Cash and cash equivalents, end of period 12,637 18,049 [2],[3] 15,105 [2]
Supplemental cash flow information:      
Interest paid 3,712 3,587 [2] 420 [2]
Income taxes paid, net 6,799 7,815 [2] 3,767 [2]
Supplementary disclosure of non-cash investing and financing activities:      
Property and equipment acquired during the period not yet paid for $ 1,462 $ 214 [2] $ 447 [2]
[1] The Company has initially applied ASC 2014-09 (Topic 606) using the modified retrospective method. Under this method, the comparative information is not restated.
[2] The Company has initially applied ASC 2014-09 (Topic 606) using the modified retrospective method. Under this method, the comparative information is not restated.
[3] The Company has initially applied ASC 2014-09 (Topic 606) using the modified retrospective method. Under this method, the comparative information is not restated.