XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 2,363,000 $ (1,690,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 574,000 484,000
Stock-based compensation 542,000 882,000
Deferred income tax 97,000 541,000
Loss on long-lived assets 38,000 0
Gain on equity investment in WeGo (196,000) 0
Net foreign currency effect (13,000) (152,000)
Provision for (reversal of) loss on accounts receivable, refund reserve and other (1,408,000) (454,000)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (3,163,000) (2,229,000)
Prepaid income taxes 759,000 (545,000)
Prepaid expenses and other 565,000 (2,357,000)
Accounts payable 103,000 1,727,000
Merchant payables (7,961,000) 13,212,000
Accrued expenses and other 917,000 (641,000)
Income tax payable (157,000) (126,000)
Other liabilities 176,000 412,000
Net cash provided by (used in) operating activities (6,764,000) 9,064,000
Cash flows from investing activities:    
Purchases of intangible assets (1,049,000) 0
Proceeds from sale of equity method investments 196,000 0
Purchases of property and equipment (89,000) (7,000)
Net cash used in investing activities (942,000) (7,000)
Cash flows from financing activities:    
Repurchase of common stock 0 (1,583,000)
Net cash used in financing activities 0 (1,583,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (524,000) 270,000
Net increase (decrease) in cash, cash equivalents and restricted cash (8,230,000) 7,744,000
Cash, cash equivalents and restricted cash at beginning of period 44,989,000 64,385,000
Cash, cash equivalents and restricted cash at end of period 36,759,000 72,129,000
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net 259,000 592,000
Right-of-use assets obtained in exchange for lease obligations—operating leases 0 1,020,000
Cash paid for amounts included in the measurement of lease liabilities 938,000 1,099,000
Accrued employee payroll taxes on cashless exercise 0 2,841,000
Non-cash consideration for purchase of intangible asset $ 1,150,000 $ 0