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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income (loss) $ (39,449) $ 10,241
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation expense 65,592 3,304
Depreciation and amortization 4,535 5,041
Provision for bad debts 679 2,359
Deferred income taxes (13,443) 0
Noncash lease expense 2,791 2,800
Amortization of issuance costs for credit facility 43 0
Loss on disposal of property and equipment 14 329
Change in operating assets and liabilities:    
Accounts receivable (15,955) 7,068
Prepaid expenses and other current assets (8,196) 1,503
Deferred commissions, net (138) (1,753)
Other assets 39 108
Accounts payable 18,480 (317)
Accrued expenses and other liabilities 14,919 (16,356)
Deferred revenue 7,987 (2,504)
Deferred payroll taxes 0 1,467
Operating lease liabilities (183) (3,420)
Net cash provided by operating activities 37,715 9,870
Cash flows from investing activities    
Purchases of property and equipment (4,429) (871)
Capitalized internal use software costs (3,786) (3,815)
Net cash used in investing activities (8,215) (4,686)
Cash flows from financing activities    
Proceeds from term loan 0 10,000
Repayment of term loan 0 (20,000)
Proceeds from revolving line 0 16,500
Repayment of revolving line 0 (16,500)
Proceeds from convertible notes with related parties 0 25,000
Payment of issuance costs for credit facility (1,270) 0
Repurchase of common stock (2,750) 0
Proceeds from exercise of stock options 13,323 485
Net cash provided by financing activities 9,303 15,485
Net increase in cash 38,803 20,669
Beginning of period 114,539 35,529
End of period 153,342 56,198
Supplemental disclosure of non-cash activities    
Capitalized assets included in accounts payable and accrued expenses 1,535 513
Stock-based compensation capitalized for software 819 76
In-transit proceeds from exercise of stock options 21 519
Operating lease right-of-use assets obtained in exchange for new operating lease 0 5,787
Accretion of redeemable convertible preferred stock 1,480 1,911
Conversion of redeemable convertible preferred stock 138,336 0
Conversion of convertible notes and accrued interest with related parties $ 25,653 $ 0