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XPLORE TECHNOLOGIES CORP. |
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Consolidated Statements of Cash Flows |
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(in thousands) |
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Years Ended March 31, | |
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2016 | | | |
2015 | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | |
| Cash provided by (used in) operations: | | | | | | | | | | |
| Net income (loss) | | $ | (362 | ) | | $ | 249 | | |
| Items not affecting cash: | | | | | | | | | | |
| Depreciation and amortization | | | 1,730 | | | | 919 | | |
| Provision for doubtful accounts | | | 69 | | | | 2 | | |
| Stock‑based compensation expense | | | 2,156 | | | | 684 | | |
| Equity instruments issued in exchange for services | | | — | | | | 2 | | |
| Changes in operating assets and liabilities: | | | | | | | | | | |
| Accounts receivable | | | (329 | ) | | | (453 | ) | |
| Inventory | | | (1,180 | ) | | | (643 | ) | |
| Prepaid expenses and other current assets | | | (514 | ) | | | 126 | | |
| Accounts payable and accrued liabilities, including deferred revenue | | | (6,717 | ) | | | 1,508 | | |
| Net cash provided by (used in) operating activities | | | (5,147 | ) | | | 2,394 | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | |
| Net cash received in purchase transaction | | | 653 | | | | — | | | |
| Change in vendor liabilities | | | 16 | | | | — | | | |
| Additions to fixed assets | | | (888 | ) | | | (1,066 | ) | |
| Net cash used in investing activities | | | (219 | ) | | | (1,066 | ) | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | |
| Proceeds from short-term borrowings | | | 18,000 | | | | — | | |
| Repayment of short-term indebtedness | | | (27,098 | ) | | | — | | |
| Net proceeds on issuance of Common Stock | | | 603 | | | | 12,727 | | |
| Net cash provided by (used in) financing activities | | | (8,495 | ) | | | 12,727 | | |
| CHANGE IN CASH AND CASH EQUIVALENTS | | | (13,861 | ) | | | 14,055 | | |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | | | 19,455 | | | | 5,400 | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 5,594 | | | $ | 19,455 | | |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS: | | | | | | | | | | |
| Payments for interest | | $ | 58 | | | $ | 8 | | |
| Payments for income taxes, net of refunds | | $ | 8 | | | $ | 9 | | |
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