Company Quick10K Filing
Marchex
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 -0 $-0
10-Q 2019-11-08 Quarter: 2019-09-30
10-Q 2019-08-08 Quarter: 2019-06-30
10-Q 2019-05-10 Quarter: 2019-03-31
10-K 2019-03-18 Annual: 2018-12-31
10-Q 2018-11-09 Quarter: 2018-09-30
10-Q 2018-08-06 Quarter: 2018-06-30
10-Q 2018-05-09 Quarter: 2018-03-31
10-K 2018-03-14 Annual: 2017-12-31
10-Q 2017-11-06 Quarter: 2017-09-30
10-Q 2017-08-04 Quarter: 2017-06-30
10-Q 2017-05-09 Quarter: 2017-03-31
10-K 2017-03-08 Annual: 2016-12-31
10-Q 2016-11-07 Quarter: 2016-09-30
10-Q 2016-08-09 Quarter: 2016-06-30
10-Q 2016-05-06 Quarter: 2016-03-31
10-K 2016-03-07 Annual: 2015-12-31
10-Q 2015-11-06 Quarter: 2015-09-30
10-Q 2015-08-10 Quarter: 2015-06-30
10-Q 2015-05-11 Quarter: 2015-03-31
10-K 2015-03-10 Annual: 2014-12-31
10-Q 2014-11-10 Quarter: 2014-09-30
10-Q 2014-08-11 Quarter: 2014-06-30
10-Q 2014-05-12 Quarter: 2014-03-31
10-K 2014-03-03 Annual: 2013-12-31
10-Q 2013-11-12 Quarter: 2013-09-30
10-Q 2013-08-08 Quarter: 2013-06-30
10-Q 2013-05-08 Quarter: 2013-03-31
10-K 2013-03-12 Annual: 2012-12-31
10-Q 2012-11-08 Quarter: 2012-09-30
10-Q 2012-08-08 Quarter: 2012-06-30
10-Q 2012-05-08 Quarter: 2012-03-31
10-K 2012-03-12 Annual: 2011-12-31
10-Q 2011-11-04 Quarter: 2011-09-30
10-Q 2011-08-09 Quarter: 2011-06-30
10-Q 2011-05-10 Quarter: 2011-03-31
10-K 2011-03-14 Annual: 2010-12-31
10-Q 2010-11-05 Quarter: 2010-09-30
10-Q 2010-08-06 Quarter: 2010-06-30
10-Q 2010-05-10 Quarter: 2010-03-31
10-K 2010-03-10 Annual: 2009-12-31
8-K 2019-12-20 Enter Agreement, Officers
8-K 2019-12-13 Enter Agreement, M&A, Sale of Shares, Regulation FD, Exhibits
8-K 2019-12-12 Enter Agreement, Officers, Exhibits
8-K 2019-11-06 Earnings, Exhibits
8-K 2019-09-26 Enter Agreement, Officers
8-K 2019-08-28 Enter Agreement, Officers
8-K 2019-08-20 Regulation FD
8-K 2019-08-07 Earnings, Exhibits
8-K 2019-05-22 Enter Agreement, Officers
8-K 2019-05-02 Earnings, Exhibits
8-K 2019-04-17 Enter Agreement, Officers
8-K 2019-04-09 Enter Agreement, Officers, Exhibits
8-K 2019-02-13 Earnings, Exhibits
8-K 2018-12-20 Enter Agreement, Officers
8-K 2018-11-20 Enter Agreement, M&A, Sale of Shares, Regulation FD, Exhibits
8-K 2018-11-05 Earnings, Exhibits
8-K 2018-11-05 Enter Agreement, M&A, Regulation FD, Exhibits
8-K 2018-10-01 Enter Agreement
8-K 2018-09-27 Enter Agreement, Shareholder Vote
8-K 2018-08-21 Enter Agreement, Officers
8-K 2018-08-01 Earnings, Exhibits
8-K 2018-06-27
8-K 2018-05-31 Enter Agreement, Exhibits
8-K 2018-05-29 Regulation FD, Exhibits
8-K 2018-05-03 Earnings, Exhibits
8-K 2018-02-15 Earnings, Exhibits
8-K 2018-02-01 Enter Agreement, Officers
MCHX 2019-09-30
Part I-Financial Information
Item 1. Condensed Consolidated Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part Ii-Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 4. Mine Safety Disclosures
Item 6. Exhibits
EX-31 mchx-ex31_6.htm
EX-32 mchx-ex32_7.htm

Marchex Earnings 2019-09-30

MCHX 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Comparables ($MM TTM)
Ticker M Cap Assets Liab Rev G Profit Net Inc EBITDA EV G Margin EV/EBITDA ROA
SCACU 217 16 3 0 0 0 -0 0% -0.7 0%
MCHX 123 27 102 31 -3 2 -51 30% -20.8 -2%
GRSH 407 14 0 0 5 7 -0 -0.0 1%
MUDS 214 7 0 0 3 4 -0 -0.1 1%
TMCX 359 17 0 0 4 6 -0 -0.1 1%
CCH 448 16 0 0 7 7 -1 -0.1 1%
RWGE 309 11 0 0 6 6 -0 -0.1 2%
FTCH 1,351 223 0 0 0 0 -50 0%
QIWI 73,023 0 0 0 0 -3 0%
LHC 206 11 0 0 -0 -0 -0 0.0 -0%

10-Q 1 mchx-10q_20190930.htm 10-Q mchx-10q_20190930.htm

 

f

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from                      to                     .

 

Commission File Number 000-50658

 

Marchex, Inc.

(Exact name of Registrant as specified in its charter)

 

 

Delaware

35-2194038

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

 

520 Pike Street, Suite 2000

 

Seattle, WA

(Address of Principal Executive Offices)

98101

(Zip Code)

Registrant’s telephone number, including area code: (206) 331-3300

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

 

Accelerated filer

 

 

 

 

 

 

Non-accelerated filer

 

  

 

Smaller reporting company

 

 

 

 

 

 

Emerging growth company

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Class B Common Stock

 

MCHX

 

The Nasdaq Global Select Market

As of November 5, 2019, the registrant had 4,660,927 shares of Class A common stock, $.01 par value per share, and 38,433,473 shares Class B common stock, $.01 par value per share, outstanding, respectively.

 

 

 

 


 

Marchex, Inc.

Form 10-Q

Table of Contents

 

 

 

Page

PART I.

FINANCIAL INFORMATION

 

Item 1.

Condensed Consolidated Financial Statements (unaudited)

1

 

Condensed Consolidated Balance Sheets

1

 

Condensed Consolidated Statements of Operations

2

 

Condensed Consolidated Statements of Stockholders’ Equity

3

 

Condensed Consolidated Statements of Cash Flows

4

 

Notes to Condensed Consolidated Financial Statements

5

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

20

Item 3.

Quantitative and Qualitative Disclosures about Market Risk

37

Item 4.

Controls and Procedures

37

 

 

 

PART II.

OTHER INFORMATION

 

Item 1.

Legal Proceedings

38

Item 1A.

Risk Factors

38

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

58

Item 4.

Mine Safety Disclosures

58

Item 6.

Exhibits

59

Signature

60

 

 


 

PART I—FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

MARCHEX, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

 

 

 

December 31,

 

 

September 30,

 

 

 

2018

 

 

2019

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

45,230

 

 

$

52,467

 

Accounts receivable, net

 

 

16,198

 

 

 

14,100

 

Prepaid expenses and other current assets

 

 

2,657

 

 

 

2,428

 

Total current assets

 

 

64,085

 

 

 

68,995

 

Property and equipment, net

 

 

2,921

 

 

 

3,205

 

Right-of-use lease asset

 

 

 

 

 

6,146

 

Other assets, net

 

 

917

 

 

 

275

 

Goodwill

 

 

24,442

 

 

 

24,503

 

Intangible assets from acquisitions, net

 

 

20,697

 

 

 

15,993

 

Total assets

 

$

113,062

 

 

$

119,117

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

5,968

 

 

$

5,611

 

Accrued expenses and other current liabilities

 

 

5,807

 

 

 

6,265

 

Current portion of acquisition-related liabilities

 

 

1,215

 

 

 

844

 

Deferred revenue and deposits

 

 

1,782

 

 

 

1,902

 

Lease liability current

 

 

 

 

 

1,506

 

Total current liabilities

 

 

14,772

 

 

 

16,128

 

Other non-current liabilities

 

 

1,287

 

 

 

30

 

Deferred tax liabilities

 

 

1,531

 

 

 

1,537

 

Lease liability non-current

 

 

 

 

 

6,034

 

Non-current portion of acquisition-related liabilities

 

 

446

 

 

 

 

Total liabilities

 

 

18,036

 

 

 

23,729

 

Commitments and contingencies

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

 

 

Common stock, $0.01 par value, Authorized 137,500 shares

 

 

 

 

 

 

 

 

Class A: 12,500 shares authorized; 5,056 shares issued and

   outstanding at December 31, 2018; and 4,661 shares

   issued and outstanding at September 30, 2019

 

 

53

 

 

 

49

 

Class B: 125,000 shares authorized; 36,965 shares issued and

   outstanding at December 31, 2018, including 574 shares

   of restricted stock; and 38,427 shares issued and outstanding at

   September 30, 2019, including 791 shares of restricted stock

 

 

370

 

 

 

384

 

Treasury stock

 

 

 

 

 

 

Additional paid-in capital

 

 

350,801

 

 

 

354,781

 

Accumulated deficit

 

 

(256,198

)

 

 

(259,826

)

Total stockholders’ equity

 

 

95,026

 

 

 

95,388

 

Total liabilities and stockholders’ equity

 

$

113,062

 

 

$

119,117

 

 

See accompanying Notes to Condensed Consolidated Financial Statements.

 

 

1

 


 

MARCHEX, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)

(unaudited)

 

 

 

Nine Months Ended

September 30,

 

 

Three Months Ended

September 30,

 

 

 

2018

 

 

2019

 

 

2018

 

 

2019

 

Revenue

 

$

62,120

 

 

$

77,541

 

 

$

20,006

 

 

$

24,794

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service costs(1)

 

 

35,084

 

 

 

40,951

 

 

 

10,877

 

 

 

12,770

 

Sales and marketing(1)

 

 

10,275

 

 

 

12,172

 

 

 

3,330

 

 

 

3,971

 

Product development(1)

 

 

11,382

 

 

 

14,708

 

 

 

3,861

 

 

 

5,135

 

General and administrative(1)

 

 

8,083

 

 

 

9,939

 

 

 

2,570

 

 

 

3,130

 

Amortization of intangible assets from acquisitions(2)

 

 

 

 

 

4,704

 

 

 

 

 

 

1,568

 

Acquisition-related costs (benefit)

 

 

110

 

 

 

(710

)

 

 

110

 

 

 

(432

)

Total operating expenses

 

 

64,934

 

 

 

81,764

 

 

 

20,748

 

 

 

26,142

 

Loss from operations

 

 

(2,814

)

 

 

(4,223

)

 

 

(742

)

 

 

(1,348

)

Interest income and other, net

 

 

805

 

 

 

592

 

 

 

296

 

 

 

189

 

Loss before provision for income taxes

 

 

(2,009

)

 

 

(3,631

)

 

 

(446

)

 

 

(1,159

)

Income tax expense (benefit)

 

 

32

 

 

 

(3

)

 

 

11

 

 

 

56

 

Net loss applicable to common stockholders

 

$

(2,041

)

 

$

(3,628

)

 

$

(457

)

 

$

(1,215

)

Basic and diluted net loss per Class A and Class B share applicable

   to common stockholders

 

$

(0.05

)

 

$

(0.08

)

 

$

(0.01

)

 

$

(0.03

)

Shares used to calculate basic net loss per share applicable to

   common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Class A

 

 

5,056

 

 

 

4,838

 

 

 

5,056

 

 

 

4,661

 

Class B

 

 

37,243

 

 

 

40,459

 

 

 

36,127

 

 

 

40,984

 

Shares used to calculate diluted net loss per share applicable

   to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Class A

 

 

5,056

 

 

 

4,838

 

 

 

5,056

 

 

 

4,661

 

Class B

 

 

42,299

 

 

 

45,297

 

 

 

41,183

 

 

 

45,645

 

(1) Excludes amortization of intangibles from acquisitions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2) Components of amortization of intangibles from acquisitions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       Service costs

 

$

 

 

$

1,722

 

 

$

 

 

$

574

 

       Sales and marketing

 

 

 

 

 

1,855

 

 

 

 

 

 

618

 

       General and administrative

 

 

 

 

 

1,127

 

 

 

 

 

 

376

 

         Total

 

$

 

 

$

4,704

 

 

$

 

 

$

1,568

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying Notes to Condensed Consolidated Financial Statements.

 


2

 


 

MARCHEX, INC. AND SUBSIDIARIES

Consolidated Statements of Stockholders’ Equity

(in thousands)

(unaudited)

 

 

Class A

 

 

Class B

 

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

Total

 

 

 

common stock

 

 

common stock

 

 

Treasury stock

 

 

paid-in

 

 

Accumulated

 

 

stockholders’

 

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

capital

 

 

deficit

 

 

equity

 

Balances at December 31, 2017

 

 

5,056

 

 

$

53

 

 

 

38,736

 

 

$

387

 

 

 

 

 

 

 

 

$

343,268

 

 

$

(253,709

)

 

$

89,999

 

Issuance of common stock upon exercise

   of options, issuance and vesting of

   restricted stock and under employee

   stock purchase plan, net

 

 

 

 

 

 

 

 

36

 

 

 

1

 

 

 

 

 

 

 

 

 

26

 

 

 

 

 

 

27

 

Stock compensation from options and

   restricted stock, net of forfeitures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

951

 

 

 

 

 

 

951

 

Cumulative effect of a change in

   accounting principle related to

   revenue recognition

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

189

 

 

 

189

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(926

)

 

 

(926

)

Balances at March 31, 2018

 

 

5,056

 

 

$

53

 

 

 

38,772

 

 

$

388

 

 

 

 

 

 

 

 

$

344,245

 

 

$

(254,446

)

 

 

90,240

 

Issuance of common stock upon exercise

   of options, issuance and vesting of

   restricted stock and under employee

   stock purchase plan, net

 

 

 

 

 

 

 

 

287

 

 

 

3

 

 

 

 

 

 

 

 

 

719

 

 

 

 

 

 

722

 

Repurchase of treasury stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,334

)

 

 

(23

)

 

 

 

 

 

 

 

 

(23

)

Retirement of treasury stock

 

 

 

 

 

 

 

 

(2,334

)

 

 

(23

)

 

 

2,334

 

 

 

23

 

 

 

(5,650

)

 

 

 

 

 

(5,650

)

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(658

)

 

 

(658

)

Balances at June 30, 2018

 

 

5,056

 

 

$

53

 

 

 

36,725

 

 

$

368

 

 

 

 

 

$

 

 

$

339,314

 

 

$

(255,104

)

 

$

84,631

 

Issuance of common stock upon exercise

   of options, issuance and vesting of

   restricted stock and under employee

   stock purchase plan, net

 

 

 

 

 

 

 

 

73

 

 

 

 

 

 

 

 

 

 

 

 

733

 

 

 

 

 

 

733

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(457

)

 

 

(457

)

Balances at September 30, 2018

 

 

5,056

 

 

$

53

 

 

 

36,798

 

 

$

368

 

 

 

 

 

$

 

 

$

340,047

 

 

$

(255,561

)

 

$

84,907

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Class A

 

 

Class B

 

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

Total

 

 

 

common stock

 

 

common stock

 

 

Treasury stock

 

 

paid-in

 

 

Accumulated

 

 

stockholders’

 

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

capital

 

 

deficit

 

 

equity

 

Balances at December 31, 2018

 

 

5,056

 

 

$

53

 

 

 

36,965

 

 

$

370

 

 

 

 

 

 

 

 

$

350,801

 

 

$

(256,198

)

 

 

95,026

 

Issuance of common stock upon exercise

   of options, issuance and vesting of

   restricted stock and under employee

   stock purchase plan, net

 

 

 

 

 

 

 

 

129

 

 

 

1

 

 

 

(90

)

 

 

(1

)

 

 

194

 

 

 

 

 

 

194

 

Stock compensation from options and

   restricted stock, net of forfeitures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

545

 

 

 

 

 

 

545

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,299

)

 

 

(1,299

)

Balances at March 31, 2019

 

 

5,056

 

 

$

53

 

 

 

37,094

 

 

$

371

 

 

 

(90

)

 

 

(1

)

 

$

351,540

 

 

$

(257,497

)

 

 

94,466

 

Issuance of common stock upon exercise

   of options, issuance and vesting of

   restricted stock and under employee

   stock purchase plan, net

 

 

 

 

 

 

 

 

928

 

 

 

9

 

 

 

 

 

 

 

 

 

1,542

 

 

 

 

 

 

1,551

 

Conversion of Class A common stock

   to Class B common stock

 

 

(395

)

 

 

(4

)

 

 

395

 

 

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock compensation from options and

   restricted stock, net of forfeitures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

782

 

 

 

 

 

 

782

 

Retirement of treasury stock

 

 

 

 

 

 

 

 

(90

)

 

 

(1

)

 

 

90

 

 

 

1

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,114

)

 

 

(1,114

)

Balances at June 30, 2019

 

 

4,661

 

 

$

49

 

 

 

38,327

 

 

$

383

 

 

 

 

 

$

 

 

$

353,864

 

 

$

(258,611

)

 

$

95,685

 

Issuance of common stock upon exercise

   of options, issuance and vesting of

   restricted stock and under employee

   stock purchase plan, net

 

 

 

 

 

 

 

 

100

 

 

 

1

 

 

 

 

 

 

 

 

 

93

 

 

 

 

 

 

94

 

Stock compensation from options and

   restricted stock, net of forfeitures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

824

 

 

 

 

 

 

824

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,215

)

 

 

(1,215

)

Balances at September 30, 2019

 

 

4,661

 

 

$

49

 

 

 

38,427

 

 

$

384

 

 

 

 

 

$

 

 

$

354,781

 

 

$

(259,826

)

 

$

95,388

 

 

3

 


 

MARCHEX, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

 

 

 

For the Nine Months Ended September 30,

 

 

 

2018

 

 

2019

 

Operating Activities:

 

 

 

 

 

 

 

 

Net loss

 

$

(2,041

)

 

$

(3,628

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

 

 

 

 

 

Amortization and depreciation

 

 

1,360

 

 

 

6,126

 

Allowance for doubtful accounts and advertiser credits

 

 

335

 

 

 

191

 

Acquisition-related costs (benefit)

 

 

 

 

 

(818

)

Stock-based compensation

 

 

2,335

 

 

 

2,150

 

Deferred income taxes

 

 

 

 

 

6

 

Change in certain assets and liabilities:

 

 

 

 

 

 

 

 

Accounts receivable, net

 

 

879

 

 

 

1,895

 

Refundable taxes

 

 

 

 

 

243

 

Prepaid expenses, other current assets and other assets

 

 

(268

)

 

 

472

 

Accounts payable

 

 

401

 

 

 

(299

)

Accrued expenses and other current liabilities

 

 

207

 

 

 

475

 

Deferred revenue and deposits

 

 

853

 

 

 

120

 

Other non-current liabilities

 

 

1

 

 

 

(90

)

Net cash provided by operating activities

 

 

4,062

 

 

 

6,843

 

Investing Activities:

 

 

 

 

 

 

 

 

Purchases of property and equipment

 

 

(1,580

)

 

 

(1,478

)

Cash received in connection with acquisitions

 

 

 

 

 

95

 

Purchases of intangible assets and other assets

 

 

(576

)

 

 

(64

)

Net cash used in investing activities