XML 141 R7.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net loss $ (68,760,000) $ (64,078,000) $ (38,547,000)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 24,324,000 34,608,000 19,418,000
Amortization of creator signing fees 10,858,000 7,086,000 4,314,000
Noncash operating lease expense 8,246,000    
Accretion of term loan 326,000 1,718,000 752,000
Loss on debt extinguishment 1,742,000 178,000 0
Change in fair value of redeemable convertible preferred stock warrant liability 0 9,591,000 2,200,000
Change in fair value of term loan embedded derivatives 0 (2,119,000) 0
Stock-based compensation 37,594,000 30,231,000 10,858,000
Impairment charges 5,671,000 3,425,000 2,715,000
Provision for bad debt and creator advances 2,433,000 2,742,000 921,000
Loss on disposal of equipment 73,000 99,000 1,271,000
Deferred income taxes (380,000) 103,000 (400,000)
Excess tax benefit from stock-based compensation awards 0 0 (2,258,000)
Changes in operating assets and liabilities, net of impact of acquisitions:      
Accounts receivable (288,000) (2,092,000) (775,000)
Funds receivable 3,801,000 (6,810,000) (18,148,000)
Creator signing fees, net (21,216,000) (15,973,000) (8,600,000)
Creator advances, net (5,685,000) (5,308,000) (5,782,000)
Prepaid expenses and other current assets 1,690,000 (5,594,000) (4,347,000)
Other assets 201,000 (1,643,000) 668,000
Accounts payable, creators 36,170,000 24,523,000 52,836,000
Accounts payable, trade 670,000 (507,000) 386,000
Accrued compensation and benefits 761,000 1,791,000 (333,000)
Accrued taxes (2,619,000) 5,039,000 3,640,000
Operating lease liabilities (9,146,000)    
Other accrued liabilities 2,224,000 4,256,000 693,000
Accrued taxes, noncurrent (137,000) (14,458,000) 7,027,000
Other liabilities 105,000 354,000 1,312,000
Net cash provided by operating activities 28,658,000 7,162,000 29,821,000
Cash flows from investing activities      
Purchases of property and equipment (5,888,000) (5,418,000) (2,536,000)
Capitalized internal-use software development costs (7,710,000) (7,232,000) (6,142,000)
Acquisitions, net of cash acquired 0 12,611,000 (131,974,000)
Net cash used in investing activities (13,598,000) (39,000) (140,652,000)
Cash flows from financing activities      
Proceeds from initial public offering, net of underwriters' discounts and offering costs, net of reimbursements 0 240,965,000 0
Proceeds from issuance of common stock under ESPP 3,631,000 0 0
Proceeds from exercise of stock options 40,669,000 8,108,000 1,767,000
Excess tax benefit from stock-based compensation awards 0 0 2,258,000
Taxes paid related to net share settlement of equity awards (1,066,000) (9,013,000) 0
Proceeds from issuance of redeemable convertible preferred stock, net 0 0 133,936,000
Proceeds from term loans 0 118,578,000 30,000,000
Principal payments on debt obligations (73,594,000) (111,071,000) (7,788,000)
Prepayment penalties on debt extinguishment 0 (6,803,000) 0
Payment of debt issuance costs (457,000) 0 0
Payments on finance lease obligations (290,000)    
Payments on finance lease obligations   (78,000) (249,000)
Payments on build-to-suit lease financing obligation 0 (630,000) (410,000)
Payments of deferred offering costs (413,000) 0 0
Net cash provided by (used in) financing activities (31,520,000) 240,056,000 159,514,000
Net increase (decrease) in cash, cash equivalents and restricted cash (16,460,000) 247,179,000 48,683,000
Net increase (decrease) in cash, cash equivalents and restricted cash      
Beginning of period 439,400,000 192,221,000 143,538,000
End of period 422,940,000 439,400,000 192,221,000
Supplemental cash flow data      
Interest paid 10,657,000 7,588,000 868,000
Income taxes paid, net of refunds 1,096,000 202,000 144,000
Noncash investing and financing activities      
Vesting of early exercised stock options 367,000 366,000 366,000
Issued shares of common stock for acquisitions 0 8,832,000 18,243,000
Promissory notes issued in connection with acquisitions 0 0 57,500,000
Conversion of redeemable convertible preferred stock in connection with initial public offering 0 21,465,000 0
Issuance of redeemable convertible preferred stock warrants in connection with the loan facilities and term loan 0 4,603,000 5,071,000
Deferred offering costs included in accounts payable, trade and other accrued liabilities 0 430,000 0
Purchases of property and equipment, accrued but unpaid 436,000 $ 0 $ 0
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 3,704,000