HYDROGENICS CORP
CIK:0001119985|SEC Filings
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
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| Operating activities: | ||||||
| Net loss for the year | $ (13,339) | $ (10,766) | [1] | |||
| Decrease (increase) in restricted cash | (304) | 134 | ||||
| Items not affecting cash | ||||||
| Loss (gain) on disposal of property, plant, and equipment | (11) | 131 | ||||
| Amortization and depreciation | 706 | 672 | ||||
| Loss (gain) from change in fair value of warrants | (398) | 675 | ||||
| Unrealized foreign exchange (gain) loss | (353) | 494 | ||||
| Unrealized loss from joint ventures | 1,637 | 334 | ||||
| Accreted interest and fair value adjustment | 1,650 | 2,075 | ||||
| Stock-based compensation | 957 | 742 | ||||
| Stock-based compensation - DSU's | (676) | 950 | ||||
| Net change in non-cash operating assets and liabilities | 1,750 | (223) | ||||
| Cash used in operating activities | (8,381) | (4,782) | ||||
| Investing activities | ||||||
| Investment in joint venture | (93) | |||||
| Purchase of property, plant and equipment | (1,001) | (3,920) | ||||
| Receipt of government funding | 974 | 1,792 | ||||
| Proceeds from disposals of property, plant and equipment | 700 | 1,035 | ||||
| Purchase of intangible assets | (125) | (25) | ||||
| Cash provided by (used in) investing activities | 548 | (1,211) | ||||
| Financing activities | ||||||
| Proceeds from common shares issued and stock options exercised, net of issuance costs | 40 | 19,745 | ||||
| Principal repayments of long-term debt | (3,120) | (1,639) | ||||
| Exercise of warrants | 1,374 | |||||
| Interest payments | (1,498) | (1,274) | ||||
| Proceeds of operating borrowings | (873) | |||||
| Repayment of operating borrowings | (1,193) | |||||
| Repayment of repayable government contributions and long-term debt | (171) | |||||
| Cash provided by (used in) financing activities | (5,771) | 17,162 | ||||
| Increase (decrease) in cash and cash equivalents during the year | (13,604) | 11,169 | ||||
| Cash and cash equivalents - Beginning of year | 21,511 | [1] | 10,338 | |||
| Effect of exchange rate fluctuations on cash and cash equivalents held | (346) | 4 | ||||
| Cash and cash equivalents at end of period | $ 7,561 | $ 21,511 | [1] | |||
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Consolidated Balance Sheets - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
Jan. 01, 2017 |
Dec. 31, 2016 |
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|---|---|---|---|---|---|---|---|---|
| Current assets | ||||||||
| Cash and cash equivalents | $ 7,561 | $ 21,511 | [1] | $ 10,338 | [1] | $ 10,338 | ||
| Restricted cash | 935 | 435 | [1] | 405 | [1] | |||
| Trade and other receivables | 6,728 | 8,736 | [1] | 5,144 | [1] | |||
| Contract assets | 4,534 | 6,578 | [1] | 5,572 | [1] | |||
| Inventories | 17,174 | 15,048 | [1] | 17,130 | [1] | |||
| Prepaid expenses | 1,960 | 1,374 | [1] | 1,198 | [1] | |||
| Total current assets | 38,892 | 53,682 | [1] | 39,787 | [1] | |||
| Non-current assets | ||||||||
| Restricted cash | 241 | 468 | [1] | 535 | [1] | |||
| Contract assets | 1,689 | 645 | [1] | |||||
| Investment in joint ventures | 1,644 | 2,797 | [1] | 1,750 | [1] | |||
| Property, plant and equipment | 2,867 | 3,874 | [1] | 4,095 | [1] | 4,095 | ||
| Intangible assets | 232 | 180 | [1] | 203 | [1] | |||
| Goodwill | 4,359 | 4,569 | [1] | 4,019 | [1] | 4,019 | ||
| Total non-current assets | 11,032 | 12,533 | [1] | 10,602 | [1] | |||
| Total assets | 49,924 | 66,215 | [1] | 50,389 | [1] | |||
| Current liabilities | ||||||||
| Operating borrowings | [1] | 1,200 | 2,111 | |||||
| Trade and other payables | 9,068 | 9,736 | [1] | 7,235 | [1] | |||
| Contract liabilities | 14,581 | 11,821 | [1] | 10,268 | [1] | |||
| Financial liabilities | 3,359 | 4,913 | [1] | 3,939 | [1] | |||
| Provisions | 2,041 | 1,744 | [1] | 2,045 | [1] | |||
| Deferred funding | 1,744 | 880 | [1] | 508 | [1] | |||
| Total current liabilities | 30,793 | 30,294 | [1] | 26,106 | [1] | |||
| Non-current liabilities | ||||||||
| Other liabilities | 5,711 | 8,516 | [1] | 9,262 | [1] | |||
| Contract liabilities | 1,420 | 2,223 | [1] | 3,494 | [1] | |||
| Provisions | 810 | 976 | [1] | 841 | [1] | |||
| Deferred funding | 229 | 33 | [1] | 12 | [1] | |||
| Total non-current liabilities | 8,170 | 11,748 | [1] | 13,609 | [1] | |||
| Total liabilities | 38,963 | 42,042 | [1] | 39,715 | [1] | |||
| Equity | ||||||||
| Share capital | 387,911 | 387,746 | [1] | 365,923 | [1] | |||
| Contributed surplus | 20,717 | 19,885 | [1] | 19,255 | [1] | |||
| Accumulated other comprehensive loss | (2,681) | (1,811) | [1] | (3,623) | [1] | |||
| Deficit | (394,986) | (381,647) | [1] | (370,881) | [1] | |||
| Total equity | 10,961 | 24,173 | [1] | 10,674 | [1] | $ 10,382 | ||
| Total equity and liabilities | $ 49,924 | $ 66,215 | [1] | $ 50,389 | [1] | |||
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