QUINSTREET INC
For the period ended Jun 30, 2024. Filed Aug 21, 2024.
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FY2024 · Filed Aug 21, 2024
QNST$18.65-2.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| Fiscal Year Ended June 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash Flows from Operating Activities | |||
| Net loss | $(31,331) | $(68,866) | $(5,248) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 23,957 | 19,155 | 16,961 |
| Stock-based compensation | 23,701 | 18,786 | 18,506 |
| Impairment of investment in equity securities | 2,000 | — | — |
| Provision for sales returns and doubtful accounts receivable | 896 | 2,745 | 581 |
| Deferred income taxes | 597 | 47,214 | (791) |
| Non-cash lease expense | (513) | (1,081) | (1,043) |
| Change in the fair value of contingent consideration | — | — | (926) |
| Other adjustments, net | (256) | (149) | 482 |
| Changes in assets and liabilities: | |||
| Accounts receivable | (44,934) | 10,936 | 5,543 |
| Prepaid expenses and other assets | 2,966 | (4,802) | 3,003 |
| Other assets, noncurrent | (875) | 124 | (788) |
| Accounts payable | 10,480 | (4,770) | (2,885) |
| Accrued liabilities | 25,351 | (7,454) | (4,723) |
| Net cash provided by operating activities | 12,039 | 11,838 | 28,672 |
| Cash Flows from Investing Activities | |||
| Internal software development costs | (11,377) | (11,942) | (4,672) |
| Capital expenditures | (5,348) | (3,062) | (2,842) |
| Acquisitions, net of cash acquired | (4,510) | — | (1,797) |
| Other investing activities | (1,500) | (121) | 86 |
| Net cash used in investing activities | (22,735) | (15,125) | (9,225) |
| Cash Flows from Financing Activities | |||
| Proceeds from exercise of stock options and issuance of common stock under employee stock purchase plan | 3,491 | 3,219 | 1,854 |
| Payment of withholding taxes related to release of restricted stock, net of share settlement | (6,688) | (5,389) | (7,342) |
| Post-closing payments and contingent consideration related to acquisitions | (7,026) | (11,643) | (12,559) |
| Repurchase of common stock | (2,288) | (5,646) | (15,268) |
| Net cash used in financing activities | (12,511) | (19,459) | (33,315) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 18 | (15) | (12) |
| Net decrease in cash, cash equivalents and restricted cash | (23,189) | (22,761) | (13,880) |
| Cash, cash equivalents and restricted cash at beginning of period | 73,692 | 96,453 | 110,333 |
| Cash, cash equivalents and restricted cash at end of period | $50,503 | $73,692 | $96,453 |
| Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets | |||
| Cash and cash equivalents | $50,488 | $73,677 | $96,439 |
| Restricted cash included in other assets, noncurrent | 15 | 15 | 14 |
| Total cash, cash equivalents and restricted cash | $50,503 | $73,692 | $96,453 |
| Supplemental Disclosure of Cash Flow Information | |||
| Cash paid for income taxes | $470 | $372 | $396 |
| Supplemental Disclosure of Noncash Investing and Financing Activities | |||
| Post-closing payments unpaid at acquisition date (See Note 6) | 7,161 | — | 2,785 |
| Contingent consideration unpaid at acquisition date (See Note 6) | 2,100 | — | — |
| Retirement of treasury stock (See Note 12) | (2,200) | (4,053) | (16,950) |
| Purchases of property and equipment included in accrued liabilities | 846 | 1,228 | 613 |
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