XML 30 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (153,875) $ (80,026) $ (77,620)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 21,216 15,297 11,055
Amortization of deferred sales commissions 32,279 17,801 7,486
Stock-based compensation 81,293 34,680 31,618
Allowance for credit losses 960 326 182
Accretion of marketable securities (896) 0 0
Non-cash operating lease expense 6,205 0 0
Unrealized loss on strategic investments 2,896 0 0
Other 690 0 52
Changes in operating assets and liabilities:      
Accounts receivable (32,309) (27,000) (19,632)
Prepaid expenses and other assets (4) (9,903) (3,344)
Deferred contract costs (53,379) (36,508) (18,943)
Accounts payable, accrued expenses and other liabilities (28,620) 7,272 17,488
Content costs payable 1,349 4,389 6,615
Operating lease liabilities (6,487) 0 0
Deferred revenue 67,725 66,568 54,667
Net cash provided by (used in) operating activities (60,957) (7,104) 9,624
Cash flows from investing activities:      
Purchases of marketable securities (158,503) 0 0
Proceeds from maturities of marketable securities 7,500 0 0
Purchases of property and equipment (1,564) (5,335) (5,180)
Capitalized software costs (14,160) (12,868) (9,357)
Purchases of strategic investments (5,000) (10,000) 0
Payments related to business combination, net of cash acquired (1,500) (24,490) 0
Net cash used in investing activities (173,227) (52,693) (14,537)
Cash flows from financing activities:      
Net proceeds from exercise of stock options 7,149 10,878 10,383
Net proceeds from issuance of redeemable convertible preferred stock 0 2 120,710
Proceeds from share purchases under employee stock purchase plan 9,192 0 0
Payment of redeemable convertible preferred stock issuance costs 0 (2,250) 0
Payment of deferred offering costs (1,586) (5,183) 0
Cash proceeds from initial public offering 0 415,187 0
Net cash provided by financing activities 14,755 418,634 131,093
Effect of foreign exchange rates on cash flows (25) 0 0
Net increase (decrease) in cash, cash equivalents and restricted cash (219,454) 358,837 126,180
Cash, cash equivalents and restricted cash—Beginning of period 536,768 177,931 51,751
Cash, cash equivalents and restricted cash—End of period 317,314 536,768 177,931
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 313,685 533,868 175,031
Restricted cash 3,629 2,900 2,900
Total cash, cash equivalents and restricted cash 317,314 536,768 177,931
Supplemental disclosures of cash flow information:      
Interest paid 23 90 48
Income taxes paid 678 385 154
Supplemental disclosure of non-cash investing and financing activities:      
Accrued redeemable convertible preferred stock issuance costs 0 0 2,250
Unpaid deferred offering costs 0 1,586 0
Stock-based compensation in capitalized costs 5,911 2,571 749
Acquisition holdback liability 0 1,500 0
Changes in purchases of property and equipment in accounts payable and accrued expenses 22 (186) 131
Vesting of early-exercised stock options, net 0 0 7
Unrealized losses on marketable securities $ 213 $ 0 $ 0