CYREN Ltd. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019	FY2018 12 months to Dec 31, 2018	FY2017 12 months to Dec 31, 2017
Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on disposal of property and equipment
Depreciation
Share-based compensation
Amortization of intangible assets
Accretion of discount on convertible notes
Write-off of technology R&D capitalization
Impairment of intangible asset
Amortization of deferred commissions
Amortization of operating lease right-of-use assets
Interest and accretion of discount on convertible notes
Change in fair value of embedded conversion feature on convertible notes
Other income related to investment in affiliate
Non-cash operating lease expense
Operating lease right-of-use assets
Interest on convertible notes
Other expenses related to the earn-out consideration
Interest and amortization of debt issuance costs on Convertible Debentures
Deferred taxes, net
Changes in assets and liabilities:
Trade receivables, net
Prepaid expenses and other receivables
Deferred commissions
Employees and payroll accruals, accrued expenses and other liabilities
Change in long-term lease deposits
Trade payables
Employees and payroll accruals, accrued expenses, and other liabilities
Deferred revenues
Accrued severance pay, net
Operating lease liabilities
Other long-term liabilities

Net cash used in operating activities
Cash flows from investing activities:
Capitalization of technology
Proceeds from sale of investment in affiliate
Proceeds from sale of property and equipment
Purchase of property and equipment
Net cash used in investing activities

Cash flows from financing activities:
Proceeds from a Rights offering, net
Proceeds from Convertible Debentures, net of debt issuance costs
Proceeds from issuance of ordinary shares and warrant, net of issuance costs
Payment of earn-out consideration
Proceeds from options exercised
Proceeds from issuance of ordinary shares, net of issuance costs
Payment of principal on convertible notes on maturity
Net cash provided by financing activities
Effect of exchange rate changes on cash and cash equivalents
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Interest
Effect of exchange rate changes on cash, cash equivalents and restricted cash
(Decrease) in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at the beginning of the period
Cash, cash equivalents and restricted cash at the end of the period
Taxes, net
Cash paid during the year for:
Interest
Unpaid purchases of property and equipment
Supplemental disclosure of non-cash transactions:
Purchase of property and equipment by credit
Operating lease right-of-use asset exchanged for lease obligations
Net change in accrued payroll expenses related to capitalization of technology
Issuance of shares for payment of interest on convertible notes
Issuance of shares on early conversion of Convertible Debentures
Issuance of shares for payment of interest on convertible notes and Convertible Debentures
Reconciliation of cash, cash equivalents and restricted cash as shown in the consolidated statements of cash flow:
Cash and cash equivalents
Restricted cash included in long-term restricted lease deposits
Total cash, cash equivalents and restricted cash

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