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Condensed Consolidated Statements of Cash Flows
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Cash flows from operating activities:      
Net Loss $ (107,595) $ (301,199) $ (138,627)
Adjustments to reconcile net loss to net cash from operating activities:      
Depreciation and amortization   34,181 22,902
Stock-based compensation expense   186,051 156,604
Amortization of right-of-use assets   30,532 25,235
Amortization of content assets 52,912 102,314 100,497
Foreign currency remeasurement (gains) losses   1,760 0
Change in fair value of the Strategic Investment 100 (3,090) 0
Impairment of assets   4,338 0
Provision for doubtful accounts   2,962 467
Other items, net   (224) (335)
Changes in operating assets and liabilities:      
Accounts receivable   50,430 37,320
Inventories   13,533 (25,801)
Prepaid expenses and other current assets   3,736 (11,146)
Content assets and liabilities, net   (120,522) (150,513)
Other non-current assets   4,379 (1,830)
Accounts payable   72,291 (11,871)
Accrued liabilities   (92,289) (479)
Operating lease liabilities   (5,754) (16,125)
Other long-term liabilities   (1,074) 148
Deferred revenue   11,286 3,607
Net cash used in operating activities   (6,359) (9,947)
Cash flows from investing activities:      
Purchases of property and equipment   (72,316) (52,209)
Purchase of Strategic Investment (5,000) (10,000) (40,000)
Net cash used in investing activities   (82,316) (92,209)
Cash flows from financing activities:      
Repayments of borrowings   (80,000) (5,000)
Proceeds from equity issued under incentive plans   1,504 11,693
Net cash provided by (used in) financing activities   (78,496) 6,693
Net decrease in cash, cash equivalents and restricted cash   (167,171) (95,463)
Effect of exchange rate changes on cash, cash equivalents and restricted cash   1,189 (67)
Cash, cash equivalents and restricted cash —beginning of period   1,961,956 2,147,670
Cash, cash equivalents and restricted cash —end of period 1,795,974 1,795,974 2,052,140
Cash, cash equivalents and restricted cash at end of period:      
Cash and cash equivalents 1,755,261 1,755,261 2,050,412
Restricted cash, current 40,713 40,713 0
Restricted cash, non-current 0 0 1,728
Cash, cash equivalents and restricted cash —end of period $ 1,795,974 1,795,974 2,052,140
Supplemental disclosures of cash flow information:      
Cash paid for interest   871 1,444
Cash paid for income taxes   3,955 4,752
Supplemental disclosures of non-cash investing and financing activities:      
Unpaid portion of property and equipment purchases   $ 4,094 $ 3,551