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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:      
Net loss $ (163,929) $ (47,695) $ (58,200)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 3,534 3,498 3,080
Share-based compensation expense 142,660 28,211 21,757
Non-cash operating leases expense 2,115 2,029 1,487
Amortization of premium (accretion of discount) on marketable securities 1,162 543 (499)
Provision for doubtful accounts 173 39 370
Other 2,937 1,890 1,000
Changes in operating assets and liabilities:      
Accounts receivable (4,940) (4,485) (2,812)
Settlements receivable 1,601 (2,961) (4,000)
Network incentives receivable (10,377) (9,400) (8,248)
Prepaid expenses and other assets (7,742) (2,481) (5,363)
Accounts payable 190 (839) 1,613
Revenue share payable 42,988 48,442 18,631
Accrued expenses and other liabilities 49,372 34,997 17,407
Operating lease liabilities (2,772) (1,515) (1,651)
Net cash provided by (used in) operating activities 56,972 50,273 (15,428)
Cash flows from investing activities:      
Purchases of property and equipment (2,743) (2,375) (4,908)
Purchases of marketable securities (455,266) (216,200) (528,300)
Sales of marketable securities 0 71,981 0
Maturities of marketable securities 148,888 89,032 433,640
Purchase of equity method investment and purchase option (20,000) 0 (750)
Net cash used in investing activities (329,121) (57,562) (100,318)
Cash flows from financing activities:      
Proceeds from initial public offering, net of underwriters’ discounts and commissions 1,319,809 0 0
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs 0 166,942 142,990
Payment of bank loan and related fees 0 0 (5,005)
Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options 4,539 3,144 1,064
Proceeds from exercise of warrants 60 0 0
Proceeds from shares issued in connection with employee stock purchase plan 3,201 0 0
Taxes paid related to net share settlement of restricted stock units 23,552 0 0
Payment of deferred offering costs (4,760) (2,708) 0
Net cash provided by financing activities 1,299,297 167,378 139,049
Net increase in cash, cash equivalents, and restricted cash 1,027,148 160,089 23,303
Cash, cash equivalents, and restricted cash- Beginning of period 228,233 68,144 44,841
Cash, cash equivalents, and restricted cash - End of period $ 1,255,381 $ 228,233 $ 68,144