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The ExOne Company
Statement of Consolidated Cash Flows (in thousands) (Unaudited) | |||||||||
| Nine Months Ended | |||||||||
| September 30, | |||||||||
| 2016 | 2015 | ||||||||
| Operating activities | |||||||||
| Net loss | $ | (12,030 | ) | $ | (24,646 | ) | |||
| Adjustments to reconcile net loss to cash used for operations: | |||||||||
| Depreciation and amortization | 4,280 | 3,819 | |||||||
| Deferred income taxes | (29 | ) | (269 | ) | |||||
| Equity-based compensation | 1,104 | 1,244 | |||||||
| (Recoveries) provision for bad debts | (256 | ) | 144 | ||||||
| Loss from disposal of property and equipment | 163 | 87 | |||||||
| Amortization of debt issuance costs | 204 | - | |||||||
| Changes in fair value of contingent consideration | - | (193 | ) | ||||||
| Goodwill impairment | - | 4,419 | |||||||
| Changes in assets and liabilities, excluding effects of foreign currency translation adjustments: | |||||||||
| Decrease in accounts receivable | 4,681 | 8,145 | |||||||
| Decrease (increase) in inventories | 43 | (9,459 | ) | ||||||
| Decrease in prepaid expenses and other assets | 800 | 468 | |||||||
| (Decrease) increase in accounts payable | (1,296 | ) | 850 | ||||||
| Decrease in accrued expenses and other liabilities | (1,259 | ) | (1,386 | ) | |||||
| Increase in deferred revenue and customer prepayments | 1,687 | 5,770 | |||||||
| Cash used for operating activities | (1,908 | ) | (11,007 | ) | |||||
| Investing activities | |||||||||
| Capital expenditures | (690 | ) | (4,089 | ) | |||||
| Proceeds from sale of property and equipment | 52 | - | |||||||
| Increase in restricted cash | - | (330 | ) | ||||||
| Cash used for investing activities | (638 | ) | (4,419 | ) | |||||
| Financing activities | |||||||||
| Net proceeds from issuance of common stock - registered direct offering to a related party | 12,447 | - | |||||||
| Net proceeds from issuance of common stock - at the market offerings | 595 | - | |||||||
| Payments on long-term debt | (102 | ) | (99 | ) | |||||
| Payments on capital and financing leases | (61 | ) | (264 | ) | |||||
| Cash provided by (used for) financing activities | 12,879 | (363 | ) | ||||||
| Effect of exchange rate changes on cash and cash equivalents | 138 | (160 | ) | ||||||
| Net change in cash and cash equivalents | 10,471 | (15,949 | ) | ||||||
| Cash and cash equivalents at beginning of period | 19,342 | 36,202 | |||||||
| Cash and cash equivalents at end of period | $ | 29,813 | $ | 20,253 | |||||
| Supplemental disclosure of noncash investing and financing activities | |||||||||
| Property and equipment included in accounts payable | $ | 15 | $ | 344 | |||||
| Advance deposits on property and equipment | $ | 203 | $ | - | |||||
| Transfer of internally developed 3D printing machines from inventories to | |||||||||
| property and equipment for internal use or leasing activities | $ | 2,666 | $ | 3,495 | |||||
| Transfer of internally developed 3D printing machines from property and equipment to | |||||||||
| inventories for sale | $ | 1,276 | $ | 149 | |||||
