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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
[2]
Cash flows from operating activities    
Net loss $ (51,439) [1] $ (15,718)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization expense 33,249 28,632
Amortization of deferred contract costs 9,034 5,518
Amortization of debt issuance costs 573 700
Non-cash lease expense 3,705 0
Provision for bad debt expense and returns (7) 894
Loss on extinguishment of debt 449 5,213
Share‑based compensation 22,774 3,903
Deferred tax benefit (2,568) (5,169)
Adjustment to contingent consideration 4,837 (3,100)
Other 1,144 (277)
Changes in operating assets and liabilities:    
Trade accounts receivable 3,184 (18,274)
Income tax receivable/payable (107) (183)
Prepaid expenses and other assets (8,129) (4,200)
Deferred contract costs (18,052) (13,970)
Accounts payable 5,020 2,987
Accrued liabilities 1,644 (4,207)
Deferred revenue 59,464 47,189
Other liabilities 52 3,161
Net cash provided by operating activities 64,827 33,099
Cash flows from investing activities    
Acquisitions, net of cash acquired (352,711) 0
Purchases of equipment and leasehold improvements (7,261) (1,836)
Proceeds from sale of equipment and leasehold improvements 35 0
Net cash used in investing activities (359,937) (1,836)
Cash flows from financing activities    
Proceeds from convertible senior notes 373,750 0
Proceeds from bank borrowings 250,000 0
Payment of bank borrowings (250,000) (205,000)
Payment for purchase of capped calls (36,030) 0
Debt issuance costs (12,636) (1,264)
Payment of debt extinguishment costs 0 (2,050)
Proceeds from initial public offering, net of underwriting discounts and commissions 0 326,316
Cash paid for offering costs (543) (6,601)
Proceeds from private placement 0 2,233
Cash paid for contingent consideration (4,206) 0
Proceeds from the exercise of stock options 8,570 185
Net cash provided by financing activities 328,905 113,819
Effect of exchange rate changes on cash, cash equivalents and restricted cash (865) 0
Net increase in cash, cash equivalents and restricted cash 32,930 145,082
Cash, cash equivalents and restricted cash, beginning of period 194,868 32,375
Cash, cash equivalents and restricted cash, end of period 227,798 177,457
Cash paid for:    
Interest 944 12,647
Income taxes, net of refunds 1,047 703
Non-cash activities:    
Deferred consideration accrued but not paid 50,000 0
Debt issuance costs accrued but not paid 489 0
Operating lease assets obtained in exchange for operating lease liabilities 1,469 0
Reconciliation of cash, cash equivalents and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:    
Cash and cash equivalents 227,148 177,457
Restricted cash included in other current assets 650 0
Total cash, cash equivalents and restricted cash $ 227,798 $ 177,457
[1] Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.
[2] Certain prior period amounts have been revised to correct immaterial errors. See Note 1 for more information.