XML 19 R6.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities:    
Net loss $ (397,148) $ (467,693)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation and amortization 48,213 32,225
Non-cash interest expense 157 654
Stock-based compensation expense 117,400 187,077
Loss from equity method investment 119 2,351
Loss (gain) on remeasurement of warrant liabilities 17,035 (12,681)
Loss (gain) on marketable equity securities and other financial assets 136 (37,433)
Deferred income taxes 2,254 256
Other expenses, net (2,726) (768)
Change in operating assets and liabilities:    
Receivables reserved for users 35,547 (3,997)
Accounts receivable 9,674 (2,347)
Prepaid expenses and other current assets (10,069) (30,887)
Deposits and other non-current assets (3,464) (493)
Operating leases, net 1,864 (125)
Accounts payable and accrued expenses (6,292) (16,087)
Liabilities to users (15,717) (8,099)
Long-term income tax liability (620) (178)
Other long-term liabilities 2,145 1,507
Net cash flows used in operating activities (201,492) (356,718)
Investing Activities:    
Purchases of property and equipment (7,094) (8,614)
Cash paid for internally developed software costs (19,419) (13,195)
Acquisition of gaming licenses (1,362) (267)
Other investing activities, net 311 (989)
Net cash flows used in investing activities (27,564) (23,065)
Financing Activities:    
Purchase of treasury stock (27,358) (14,083)
Proceeds from exercise of stock options 2,192 1,770
Net cash flows used in financing activities (25,166) (12,313)
Net decrease in cash and cash equivalents and restricted cash (254,222) (392,096)
Cash and cash equivalents and restricted cash at the beginning of period 1,778,825 2,629,842
Cash and cash equivalents and restricted cash, end of period 1,524,603 2,237,746
Disclosure of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 1,087,668 1,772,892
Cash reserved for users 436,935 464,854
Total cash, cash equivalents and restricted cash, end of period 1,524,603 2,237,746
Supplemental Disclosure of Noncash Investing and Financing Activities:    
Investing activities included in changes in accounts payable and accrued expenses (679) 7,604
Supplemental Disclosure of Cash Activities:    
Decrease in cash reserved for users (32,718) (12,096)
Cash paid for interest $ 0 $ 0