XML 19 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (19,907) $ (4,123) $ (16,233)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Provision for transaction losses 5,110 4,250 5,550
Depreciation and amortization 4,949 4,186 8,462
Amortization of debt issuance costs 77 49 0
Change in fair value of redeemable convertible preferred stock warrant liability 6,056 118 114
Change in fair value of Tides Foundation common stock warrant 226 0 0
Stock-based compensation expense 10,361 6,846 7,266
Loss on disposal of fixed assets 91 66 32
Changes in operating assets and liabilities:      
Trade and client receivables 3,506 (8,860) (8,320)
Prepaid expenses and other assets (1,292) (479) (450)
Accounts payable 1,609 74 (578)
Accrued expenses and other liabilities 2,849 (6,148) 7,057
Deferred revenue 109 20 248
Net cash provided by (used in) operating activities 13,744 (4,001) 3,148
CASH FLOWS FROM INVESTING ACTIVITIES:      
Decrease (increase) in restricted cash (444) 208 371
Purchases of property and equipment (3,002) (1,830) (846)
Internal-use software and platform development costs (3,839) (489) 0
Net cash used in investing activities (7,285) (2,111) (475)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Changes in funds held in escrow, including funds in transit (10,991) (27,362) 4,725
Changes in escrow funds payable 10,991 27,362 (4,725)
Proceeds from exercises of stock options and common stock warrant 8,160 2,547 270
Proceeds from exercise of redeemable convertible preferred stock warrant 0 260 0
Repurchase of redeemable convertible preferred stock 0 (19,208) 0
Taxes paid related to net share settlement of RSUs (247) 0 0
Proceeds from borrowings on debt 15,000 34,000 17,000
Payment of debt issuance costs 0 (177) (38)
Repayment of debt (25,000) (17,000) (12,000)
Proceeds from the initial public offering, net of discounts and commissions 109,381 0 0
Payments of costs related to the initial public offering (6,220) (41) 0
Net cash provided by financing activities 101,074 381 5,232
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 107,533 (5,731) 7,905
Cash and cash equivalents, beginning of year 21,595 27,326 19,421
Cash and cash equivalents, end of year 129,128 21,595 27,326
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid for income taxes 13 55 0
Cash paid for interest 1,976 847 1,330
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Property and equipment purchased but not yet paid 2,945 114 0
Reclassification of redeemable convertible preferred stock warrant liability to redeemable convertible preferred stock 0 144 0
Conversion of redeemable convertible preferred stock warrant in connection with the initial public offering 7,160 0 0
Conversion of redeemable convertible preferred stock in connection with the initial public offering 166,486 0 0
Unpaid deferred offering costs $ 0 $ 25 $ 0