Stock Analysis on Net
Stock Analysis on Net

Twitter Inc. (NYSE:TWTR)

$22.49

This company has been moved to the archive! The financial data has not been updated since July 26, 2022.

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Twitter Inc., consolidated cash flow statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Net income (loss)
Depreciation and amortization expense
Stock-based compensation expense
Amortization of discount on convertible notes
Bad debt expense
Deferred income taxes
(Gain) impairment on investments in privately-held companies
Gain on sale of asset group
Deferred tax assets valuation allowance release
Deferred tax assets establishment related to intra-entity transfers of intangible assets
Deferred tax assets valuation allowance establishment
Other adjustments
Accounts receivable
Prepaid expenses and other assets
Operating lease right-of-use assets
Accounts payable
Accrued and other liabilities
Operating lease liabilities
Changes in assets and liabilities, net of assets acquired and liabilities assumed from acquisitions
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Net cash provided by operating activities
Purchases of property and equipment
Proceeds from sales of property and equipment
Purchases of marketable securities
Proceeds from maturities of marketable securities
Proceeds from sales of marketable securities
Changes in restricted cash
Purchases of investments in privately-held companies
Proceeds from sale of asset group
Investments in Finance Justice Fund
Business combinations, net of cash acquired
Other investing activities
Net cash (used in) provided by investing activities
Proceeds from issuance of convertible notes
Proceeds from issuance of senior notes
Purchases of convertible note hedges
Proceeds from issuance of warrants concurrent with note hedges
Debt issuance costs
Repayment of convertible notes
Repurchases of common stock
Taxes paid related to net share settlement of equity awards
Payments of finance lease obligations
Proceeds from exercise of stock options
Proceeds from issuances of common stock under employee stock purchase plan
Net cash provided by (used in) financing activities
Foreign exchange effect on cash, cash equivalents and restricted cash
Net increase (decrease) in cash, cash equivalents and restricted cash

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Net Income (Loss)
The net income exhibits substantial volatility across quarters. It starts with losses in early 2017, turning positive and reaching peak profitability in mid-2019. Subsequently, there are significant fluctuations including a large loss in mid-2020 followed by recovery and another steep loss in early 2022. This erratic pattern suggests challenges in maintaining consistent profitability.
Depreciation and Amortization Expense
Depreciation and amortization expenses steadily increased over the entire period, from around 103 million in early 2017 to over 173 million by mid-2022. This steady rise reflects ongoing capital investments or acquisitions of intangible assets.
Stock-Based Compensation Expense
This expense shows a generally upward trend, with notable spikes especially in the second half of 2021 and early 2022, reaching a peak above 282 million, signaling increasing employee compensation costs linked to stock issuance.
Amortization of Discount on Convertible Notes
Values were present only before mid-2020, showing a moderate rise peaking around 31 million in late 2018 and early 2019, then ceasing, indicating a possible reduction or payoff of convertible notes amortization.
Bad Debt Expense
Bad debt expense fluctuated without a clear trend, with occasional negative values indicating recoveries or adjustments. A significant spike occurred in Q1 2020 reaching over 14 million but generally, the values remain low compared to other expenses.
Deferred Income Taxes
This item presents high volatility with several large negative and positive adjustments. Notably, extreme swings occurred in 2021 and 2022, including a large negative adjustment near -200 million and a positive recovery above 190 million, indicating significant tax-related accounting changes.
Gains on Investments and Other Adjustments
Several gain and impairment adjustments on investments are sporadically recorded, with a notable large gain on sale of an asset group amounting to nearly -970 million (a loss or impairment) in early 2022. Deferred tax asset adjustments also show both large releases and establishments, reflecting complexity in tax accounting.
Working Capital Items (Accounts Receivable, Prepaid Expenses, Accounts Payable, Accrued Liabilities)
Accounts receivable and prepaid expenses show highly variable and inconsistent values, with large positive and negative swings suggesting irregular cash collections and expense prepayments. Accounts payable and accrued liabilities also exhibit fluctuating patterns, including some very large increases and decreases especially in accrued liabilities in late 2021, hinting at volatile short-term obligations.
Operating Lease Assets and Liabilities
Operating lease right-of-use assets grew steadily from about 35 million in late 2018 to over 66 million by mid-2022. Corresponding liabilities also fluctuated but with an overall increase, indicative of lease accounting adoption and ongoing lease commitments.
Cash Flows from Operating Activities
Net cash from operating activities generally remained positive with peaks in late 2017, mid-2018, and late 2021. However, a significant exception is the sharp negative cash flow in early 2022, which correlates with other signs of financial stress during that period.
Purchases and Sales of Property, Equipment, and Securities
Capital expenditures were substantial and increasing, particularly from 2018 onward, peaking at over 411 million in early 2022, indicating considerable investment in fixed assets. Proceeds from sales of assets were relatively minor by comparison. Marketable securities purchases and disposals reveal large transactions, with purchases generally exceeding sales, reflecting a net outflow for investment purposes.
Investing Activities
Net cash used in investing activities varied widely, with several quarters of large outflows, especially in 2018 and 2019, aligning with heavy investments in property, equipment, and securities. Notable positive inflows occurred sporadically, including in early 2022, indicating occasional asset sales or maturity proceeds.
Financing Activities
Cash flows from financing displayed significant volatility. Large inflows correspond to proceeds from issuance of convertible and senior notes mostly in mid-2018, late 2019, and early 2021. Conversely, there were substantial outflows related to note repayments and repurchases of common stock, especially in late 2020 and post-2021, demonstrating active debt and equity management shifting over time.
Repurchases of Common Stock
Repurchases increased dramatically late in the timeline, reaching values over 2 billion in mid-2022, reflecting aggressive share buyback activity which may impact capital structure and shareholder returns.
Foreign Exchange Effect on Cash
Foreign exchange effects on cash flows were generally minor but showed occasional negative impacts, particularly between 2018 and 2022, indicating exposure to currency fluctuations.
Net Change in Cash and Cash Equivalents
The net changes in cash balances were highly variable, with significant increases at times, such as in early 2021, and sharp decreases notably in early and mid-2022, consistent with substantial outflows for investing and financing activities and the overall volatile financial performance.