XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (18,339) $ (44,544)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,483 5,786
Amortization of deferred contract costs 14,041 10,508
Stock-based compensation 22,705 26,283
Allowance for credit losses 743 301
Accretion of marketable securities (2,300) (1,815)
Non-cash operating lease expense 1,487 1,572
Other 215 375
Changes in operating assets and liabilities:    
Accounts receivable (7,954) 7,805
Prepaid expenses and other assets (5,046) (2,434)
Deferred contract costs (18,081) (17,302)
Accounts payable, accrued expenses and other liabilities (1,145) (4,499)
Content costs payable (4,906) (2,292)
Operating lease liabilities (2,423) (1,759)
Deferred revenue 35,489 2,120
Net cash provided by (used in) operating activities 20,969 (19,895)
Cash flows from investing activities:    
Purchases of marketable securities (89,462) (58,463)
Proceeds from maturities of marketable securities 89,150 42,500
Purchases of property and equipment (197) (100)
Capitalized software costs (3,261) (3,256)
Net cash used in investing activities (3,770) (19,319)
Cash flows from financing activities:    
Net proceeds from exercise of stock options 313 1,180
Taxes paid related to net share settlement of equity awards (11,634) 0
Repurchases of common stock (55,144) 0
Net cash provided by (used in) financing activities (66,465) 1,180
Effect of foreign exchange rates on cash flows (50) (18)
Net decrease in cash, cash equivalents and restricted cash (49,316) (38,052)
Cash, cash equivalents and restricted cash—Beginning of period 309,552 317,314
Cash, cash equivalents and restricted cash—End of period 260,236 279,262
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 256,807 275,633
Restricted cash, current 3,329 0
Restricted cash, non-current 100 3,629
Total cash, cash equivalents and restricted cash 260,236 279,262
Supplemental disclosures of cash flow information:    
Interest paid 0 488
Income taxes paid 71 44
Supplemental disclosure of non-cash investing and financing activities:    
Stock-based compensation in capitalized costs 2,306 2,305
Net change in unrealized gain (loss) on marketable securities $ (102) $ 149