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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (140,817) $ (70,186)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 11,462 9,209
Amortization of gaming licenses and market access fees 866
Stock-based compensation 19,449 9,374
Amortization of debt discount 600 2,512
Deferred income tax benefit (403) (465)
Change in fair value of warrant liabilities 1,701 585
Amortization of right-of-use assets 901 251
Accrued interest on notes payable 125
Other adjustments (180) (5)
Changes in operating assets and liabilities of business, net of acquisitions:    
Cash reserved for users (152)
Accounts receivable, net 687 (473)
Prepaid expenses and other assets (16,177) (2,419)
Accounts payable (5,746) (8,528)
Accrued expenses and other liabilities 1,987 3,625
Deferred revenue (1,297) 2,771
Lease liabilities 434 (243)
Net cash used in operating activities (126,685) (53,867)
Cash flows from investing activities    
Cash portion paid for acquisition (1,740)
Purchases of property and equipment (857) (639)
Capitalization of internal use software (1,026)
Purchase of intangible assets - gaming (700)
Payments for market access and license fee deposits (3,312)
Net cash used in investing activities (5,895) (2,379)
Cash flows from financing activities    
Proceeds from the issuance of common stock / At-the-market offering, net of offering costs 203,765
Proceeds from convertible note, net of issuance costs 389,946
Proceeds from exercise of stock options 443 776
Proceeds from the exercise of common stock warrants 5,000 812
Repayments of notes payable and long-term borrowings (6,574)
Net cash provided by financing activities 209,208 384,960
Net increase in cash, cash equivalents and restricted cash 76,628 328,714
Cash, cash equivalents and restricted cash at beginning of period 379,406 136,221
Cash, cash equivalents and restricted cash at end of period 456,034 464,935
Supplemental disclosure of cash flows information:    
Interest paid 6,647 327
Non-cash financing and investing activities:    
Conversion of Series AA preferred stock to common stock 406,665
Issuance of treasury stock in connection with acquisitions 8,538
Reclassification of the equity components of the 2026 Convertible Notes to liability upon adoption of ASU 2020-06 75,264
Cashless exercise of warrants 5,249 14,991
Accrued expenses - At-the-market offering $ 19