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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (257,091) $ (165,116)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 19,981 18,456
Amortization of gaming licenses and market access fees 1,858 0
Stock-based compensation 33,658 33,805
Impairment of goodwill 10,682 0
Amortization of debt discount 1,219 6,555
Loss on extinguishment of debt 0 380
Deferred income tax benefit (758) (1,218)
Change in fair value of warrant liabilities 1,701 6,604
Amortization of right-of-use assets 2,112 624
Other adjustments 653 245
Changes in operating assets and liabilities of business, net of acquisitions:    
Cash reserved for users (145) 0
Accounts receivable, net 2,476 (3,413)
Prepaid expenses and other assets (23,662) (5,583)
Accounts payable (2,294) 1,390
Accrued expenses and other liabilities (6,469) 13,233
Deferred revenue (1,962) 7,068
Lease liabilities 209 (454)
Net cash used in operating activities (217,832) (87,424)
Cash flows from investing activities    
Cash portion paid for acquisition 0 (1,740)
Purchases of short-term investments (100,000) 0
Purchases of property and equipment (1,055) (2,138)
Capitalization of internal use software (1,949) 0
Purchase of intangible assets - gaming (700) 0
Payments for market access and license fee deposits (3,462) (1,300)
Net cash used in investing activities (107,166) (5,178)
Cash flows from financing activities    
Proceeds from the issuance of common stock / At-the-market offering, net of offering costs 220,188 0
Proceeds from convertible note, net of issuance costs 0 389,946
Proceeds from exercise of stock options 572 1,976
Proceeds from the exercise of warrants 5,000 1,312
Repayments of notes payable and long-term borrowings (1,359) (24,709)
Net cash provided by financing activities 224,401 368,525
Net increase (decrease) in cash, cash equivalents and restricted cash (100,597) 275,923
Cash, cash equivalents and restricted cash at beginning of period 379,406 136,221
Cash, cash equivalents and restricted cash at end of period 278,809 412,144
Supplemental disclosure of cash flows information:    
Interest paid 6,639 432
Non-cash financing and investing activities:    
Conversion of Series AA preferred stock to common stock 0 406,665
Issuance of treasury stock in connection with acquisition 0 8,538
Reclassification of the equity components of the 2026 Convertible Notes to liability upon adoption of ASU 2020-06 75,264 0
Cashless exercise of warrants $ 5,249 $ 14,991