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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
OPERATING ACTIVITIES:      
Net income $ 50,798 $ 20,482 $ 15,929
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 7,209 3,798 1,828
Stock-based compensation 21,317 5,056 374
Change in fair value of preferred stock warrant liabilities   9,458 5,961
Deferred income taxes (1,581) (607) 338
Bad debt expense 4,289 1,890 542
Other (1,303) 1,160 176
Changes in operating assets and liabilities:      
Accounts receivable (224,636) (187,736) (114,170)
Prepaid expenses and other assets (5,033) (2,675) (3,040)
Accounts payable 171,793 209,483 50,021
Accrued expenses and other liabilities 8,371 14,722 5,481
Net cash provided by (used in) operating activities 31,224 75,031 (36,560)
INVESTING ACTIVITIES:      
Purchases of property and equipment (10,110) (6,884) (5,128)
Capitalized software development costs (2,954) (2,337) (1,799)
Business acquisition (3,000)    
Redemption of short-term investment     551
Net cash used in investing activities (16,064) (9,221) (6,376)
FINANCING ACTIVITIES:      
Proceeds from line of credit   75,847 30,000
Repayment on line of credit   (65,000) (15,000)
Proceeds from term debt     15,000
Repayment of term debt   (30,000)  
Payment of debt financing costs (154) (976) (190)
Payment of financing obligations (1,001) (550) (109)
Proceeds from issuance of Series C convertible preferred stock   60,000  
Repurchase of preferred stock and common stock   (54,000)  
Proceeds from exercise of stock options 2,565 488 166
Proceeds from employee stock purchase plan 6,997 4,224  
Taxes paid related to net settlement of restricted stock (1,017)    
Payment of stock repurchase costs   (155) (39)
Payment of Series C convertible preferred stock offering cost   (129)  
Proceeds from the issuance of Class A common stock in initial public offering, net of underwriting commissions   78,120  
Payment of offering costs—initial public offering   (4,326) (160)
Net cash provided by financing activities 7,390 63,543 29,668
Increase (decrease) in cash and cash equivalents 22,550 129,353 (13,268)
Cash and cash equivalents—Beginning of year 133,400 4,047 17,315
Cash and cash equivalents—End of year 155,950 133,400 4,047
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for income taxes 19,163 16,740 12,931
Cash paid for interest 1,320 1,696 895
Capitalized assets financed by accounts payable 701 3,490 88
Tenant improvements paid by lessor 640    
Debt financing costs included in debt, net 1,153    
Stock-based compensation included in capitalized software development costs $ 543 88 11
Conversion of convertible preferred stock to Class B common stock   83,241  
Conversion of warrant for convertible preferred stock to a warrant for Class B common stock and net exercise of warrant to purchase Class B common stock   12,596  
Deferred initial public offering costs and stock repurchase costs included in accounts payable     $ 58
Net exercise of warrants to purchase Series Seed convertible preferred stock   3,789  
Asset retirement obligation   $ 354