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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (58,600) $ (46,822) $ (51,355)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization expense 8,075 3,443 2,775
Accrued interest on marketable securities, net (369) 0 0
Stock-based compensation expense 45,395 14,535 1,954
Amortization of debt issuance costs 152 50 61
Gain on revaluation of contingent consideration (15,500) 0 0
Loss on financial instruments 200 3,035 15,818
Deferred taxes (690) 85 0
Changes in operating assets and liabilities:      
Accounts receivable (4,013) (6,281) (3,381)
Prepaid expenses and other assets (3,210) 352 (4,239)
Accounts payable and accrued liabilities (1,374) 6,825 3,069
Deferred implementation costs (8,376) (4,659) (3,768)
Deferred rent and tenant allowances 0 (568) 226
Deferred revenues 522 1,046 695
Net cash used in operating activities (37,788) (28,959) (38,145)
Cash flows from investing activities:      
Purchase of marketable securities (187,217) 0 0
Proceeds from maturities and redemptions of marketable securities 99,750 0 0
Purchases of property and equipment (1,057) (1,120) (2,147)
Capitalized software development costs (3,645) (2,577) 0
Acquisition of business, net of cash acquired [1] (131,839) (18,326) (25,073)
Net cash used in investing activities (224,008) (22,023) (27,220)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 85,000 0 25,000
Principal payments on debt (24,688) (313) 0
Borrowings on line of credit 0 0 13,000
Payments on line of credit 0 0 (13,000)
Payment of holdback funds from acquisition (1,000) 0 0
Payments for taxes related to net settlement of equity awards (2,665) 0 0
Proceeds from stock option exercises 2,399 9,112 1,986
Proceeds from exercise of warrants 0 645 0
Proceeds from ESPP issuance 2,906 3,005 0
Proceeds on sales of preferred stock, net of issuance costs 0 0 213,896
Deferred IPO issuance costs paid 0 (4,520) (1,154)
Debt issuance costs paid (773) 0 (135)
Payments on capital lease obligations     (11)
Repurchase of common stock 0 (3,497) (3,207)
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions 0 192,810 0
Purchase of common stock in tender offer 0 0 (11,329)
Payment of Series B dividend 0 (4,969) 0
Net cash provided by financing activities 61,179 192,273 225,046
Net (decrease) increase in cash and cash equivalents and restricted cash (200,617) 141,291 159,681
Cash and cash equivalents and restricted cash, beginning of period 312,954 171,663 11,982
Cash and cash equivalents and restricted cash, end of period 112,337 312,954 171,663
Supplemental disclosure of cash flow information:      
Cash paid for interest 3,612 1,100 352
Cash paid for taxes 249 32 67
Supplemental disclosure of noncash investing and financing activities:      
Deferred IPO offering costs not yet paid $ 0 $ 0 $ 419
[1] See Note 3 for additional information regarding noncash investing activities for the years ended December 31, 2022 and December 31, 2021, related to the acquisition of Segmint and MK.