Mazor Robotics Reports Third Quarter and Nine Month 2018 Results

 

 

Mazor Robotics Ltd.

CONSOLIDATED CASH FLOW STATEMENTS

(U.S. Dollars in thousands)

(UNAUDITED)




Nine months ended


Three months ended






September 30,


September 30,






2018



2017


2018


2017


Cash flows from operating activities:















Loss for the period


$

(22,061)



$

(12,856)


$

(16,943)


$

(3,948)


Adjustments:















Depreciation and amortization


$

1,507



$

1,107


$

628


$

393


Finance income, net


$

(372)



$

(328)


$

(265)


$

(209)


Share-based payments


$

12,576



$

4,975


$

8,673


$

2,553


Income tax benefit


$

(2)



$

(250)


$

(1)


$

-




$

13,709



$

5,504


$

9,035


$

2,737

















Change in inventory


$

555



$

(3,350)


$

(129)


$

(400)


Change in trade and other accounts receivable


$

(5,545)



$

354


$

(982)


$

(906)


Change in prepaid lease fees


$

(6)



$

(30)


$

(14)


$

(8)


Change in trade and other accounts payable


$

6,358



$

159


$

6,361


$

(633)


Change in employee benefits


$

19



$

123


$

(21)


$

(13)




$

1,381



$

(2,744)


$

5,215


$

(1,960)

















Interest received


$

703



$

432


$

208


$

249


Income tax paid


$

(37)



$

(15)


$

(3)


$

-




$

666



$

417


$

205


$

249

















Net cash used in operating activities


$

(6,305)



$

(9,679)


$

(2,488)


$

(2,922)

















Cash flows from investing activities:















Proceeds from (investment in) short-term investments
and deposits, net


$

(5,802)



$

1,416


$

(414)


$

(9,019)


Investment in long-term investments


$

(3,361)



$

(4,288)


$

-


$

(3,665)


Purchase of property and equipment


$

(1,487)



$

(1,557)


$

(410)


$

(244)


Net cash used in investing activities


$

(10,650)



$

(4,429)


$

(824)


$

(12,928)

















Cash flows from financing activities:















Proceeds from issuance of ADRs, net


$

-



$

40,000


$

-


$

40,000


Proceeds from exercise of share options by employees


$

7,463



$

8,293


$

2,353


$

4,574


Net cash provided by financing activities


$

7,463



$

48,293


$

2,353


$

44,574

















Net increase (decrease) in cash and cash equivalents


$

(9,492)



$

34,185


$

(959)


$

28,724


Cash and cash equivalents at the beginning of the period


$

46,376



$

14,954


$

37,475


$

20,347


Effect of exchange rate differences on balances of cash
and cash equivalents


$

(352)



$

(111)


$

16


$

(43)


Cash and cash equivalents at the end of the period


$

36,532



$

49,028


$

36,532


$

49,028


Supplementary cash flows information:















Purchase of property and equipment in credit


$

(19)



$

(96)


$

(19)


$

(96)


Issuance costs on credit


$

-



$

(22)


$

-


$

(22)


Classification of inventory to fixed assets


$

50



$

300


$

50


$

300







































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