XML 19 R8.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities    
Net income (loss) $ 20,211 $ (3,508)
Adjustment to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 4,455 4,677
Deferred taxes 1,523 1,054
Stock-based compensation expenses 13,114 4,368
Share in loss (gain) of associated company (20) 6
Gain from change in fair value of Warrants (31,196)  
Foreign currency re-measurement loss 77 856
Changes in operating assets and liabilities:    
Other current assets (4,622) (8,215)
Trade payables 176 (4,099)
Deferred revenue (160) (165)
Accounts receivables (481) 13,110
CA extended to customers (67,706) (104,357)
CA collected from customers 76,356 98,420
Other payables (10,794) (13,320)
Other long-term liabilities (1,050) (1,507)
Operating lease right-of-use assets 2,381 2,352
Other assets 108 (6,140)
Net cash provided by (used in) operating activities 2,372 (16,468)
Cash Flows from Investing Activities    
Purchase of property, equipment and software (2,690) (797)
Capitalization of internal use software (3,812) (3,351)
Severance pay fund (contributions) distributions, net 46 (213)
Customer funds in transit, net 34,409 (3,673)
Net cash provided by (used in) investing activities 27,953 (8,034)
Cash Flows from Financing Activities    
Exercise of options 3,681 469
Outstanding operating balances 229,299 (22,040)
Proceeds from related party facility, net 631  
Proceeds from long-term debt, net   24,001
Net cash provided by financing activities 233,611 2,430
Effect of exchange rate changes on cash and cash equivalents (78) (899)
Net change in cash, cash equivalents, restricted cash and customer funds 263,858 (22,971)
Cash, cash equivalents, restricted cash and customer funds at beginning of the period 4,838,433 3,413,289
Cash, cash equivalents, restricted cash and customer funds at end of the period $ 5,102,291 $ 3,390,318