XML 18 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating activities:        
Net income/(loss) for the period $ (7,981) $ 1,375 $ (14,126) $ 5,331
Items not involving cash:        
Depreciation of property and equipment 7,285 4,758 20,063 12,728
Impairment of property and equipment 3 241 30 302
Amortization of debt discount and issuance costs 215 68 482 202
Amortization of intangible assets 2,842 2,288 8,528 7,253
Net amortization contract costs (136) (189) (608) (444)
Accretion of contingent consideration 50 96 198 287
Deferred income taxes (recovery) (1,658) (488) (3,397) (1,368)
Excess tax benefits on share-based compensation expense (103) (323) (158) (868)
Net Right of use operating assets/Operating lease liability (715) (2,378) (771) (2,149)
Loss on disposal of domain names 0 0 2 1
Accretion of redeemable preferred shares 1,250 0 1,250 0
Loss (gain) on change in the fair value of forward contracts (135) 249 (135) 606
Amortization of discontinued cash flow hedge from Accumulated other income (254) 0 (254) 0
Stock-based compensation 1,569 1,126 4,396 3,357
Change in non-cash operating working capital:        
Accounts receivable (1,192) (11) (139) 718
Contract assets 892 (2,783) (7,284) (2,783)
Inventory (1,092) (275) (2,611) (1,236)
Prepaid expenses and deposits 684 918 2,359 (1,874)
Deferred costs of fulfillment 1,915 1,442 785 (2,130)
Income taxes recoverable 859 532 2,426 (2,502)
Accounts payable 791 271 6,949 2,289
Accrued liabilities (491) (1,828) 1,954 1,941
Customer deposits (2,528) (673) (2,201) (263)
Deferred revenue (3,050) (2,873) (666) (258)
Accreditation fees payable (28) (51) (97) (45)
Net cash provided by (used in) operating activities (1,008) 1,492 16,975 19,095
Financing activities:        
Proceeds received on exercise of stock options 237 1,368 808 2,844
Proceeds from redeemable preferred shares 60,000 0 60,000 0
Deferred Preferred Financing Costs (754) 0 (754) 0
Payment of tax obligations resulting from net exercise of stock options 0 (89) 0 (387)
Contingent consideration for acquisitions 0 0 (3,125) 0
Proceeds received on loan payable 12,600 10,000 48,300 28,000
Payment of loan payable costs (403) 0 (668) 0
Net cash (used in) provided by financing activities 71,680 11,279 104,561 30,457
Investing activities:        
Additions to property and equipment (46,676) (14,488) (100,018) (50,093)
Investment in securities 0 0 0 (2,012)
Acquisition of intangible assets 0 (6) (117) (223)
Net cash used in investing activities (46,676) (14,494) (100,135) (52,328)
Increase (decrease) in cash and cash equivalents 23,996 (1,723) 21,401 (2,776)
Cash and cash equivalents, beginning of period 6,510 7,258 9,105 8,311
Cash and cash equivalents, end of period 30,506 5,535 30,506 5,535
Supplemental cash flow information:        
Interest paid 3,005 1,144 6,891 3,083
Income taxes paid, net 472 212 2,759 6,008
Supplementary disclosure of non-cash investing and financing activities:        
Property and equipment acquired during the period not yet paid for $ 1,671 $ 1,772 $ 1,671 $ 1,772