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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (409,837) $ (270,981)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 28,502 27,788
Amortization of gaming licenses and market access fees 2,957 0
Stock-based compensation 47,294 46,472
Impairment of goodwill, intangible assets and other long-lived assets 46,136 0
Amortization of debt discount 1,844 10,693
Loss on extinguishment of debt 0 380
Deferred income tax benefit (1,150) (1,733)
Change in fair value of warrant liabilities 1,701 2,114
Amortization of right-of-use assets 2,948 984
Other adjustments 1,571 449
Changes in operating assets and liabilities of business, net of acquisitions:    
Cash reserved for users (339) 0
Accounts receivable, net (9,824) (8,637)
Prepaid expenses and other assets (53) (10,587)
Prepaid sports rights (30,958) 0
Accounts payable 19,173 21,341
Accrued expenses and other liabilities (9,231) 21,029
Deferred revenue 14,448 18,466
Lease liabilities 354 (808)
Net cash used in operating activities (294,464) (143,030)
Cash flows from investing activities    
Cash portion paid for acquisition 0 (1,740)
Purchase of short-term investments (100,000) 0
Purchases of property and equipment (1,146) (3,862)
Capitalization of internal use software (3,519) 0
Purchase of intangible assets - gaming (2,700) 0
Payments for market access and license fee deposits (3,462) (30,071)
Net cash used in investing activities (110,827) (35,673)
Cash flows from financing activities    
Proceeds from the issuance of common stock / At-the-Market offering, net of offering costs 228,960 69,970
Proceeds from convertible note, net of issuance costs 0 389,446
Proceeds from exercise of stock options 749 2,546
Proceeds from the exercise of warrants 5,000 3,761
Repayments of notes payable and long-term borrowings (1,472) (24,709)
Net cash provided by financing activities 233,237 441,014
Net increase (decrease) in cash, cash equivalents and restricted cash (172,054) 262,311
Cash, cash equivalents and restricted cash at beginning of period 379,406 136,221
Cash, cash equivalents and restricted cash at end of period 207,352 398,532
Supplemental disclosure of cash flows information:    
Interest paid 13,469 7,670
Income taxes paid 0 0
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 16,480
Accrued expenses - At-the-Market offering $ 292 $ 146