XML 24 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
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 $ (75,189) $ (24,082) $ (34,345)
Adjustments to reconcile net loss to cash provided by operating activities:      
Depreciation and amortization expense 47,069 38,511 37,082
Amortization of deferred contract costs 12,534 7,953 5,236
Amortization of debt issuance costs 1,251 773 1,120
Non-cash lease expense 4,994 0 0
Provision for credit losses and returns 37 1,024 279
Loss on extinguishment of debt 449 5,213 0
Share‑based compensation 35,805 6,743 2,461
Deferred tax benefit (5,644) (10,318) (11,169)
Adjustment to contingent consideration 6,037 (1,000) 200
Other 1,419 (490) (292)
Changes in operating assets and liabilities:      
Trade accounts receivable (6,521) (23,112) (14,799)
Income tax receivable/payable (611) (766) 559
Prepaid expenses and other assets (9,265) (3,620) (5,106)
Deferred contract costs (24,795) (20,398) (14,045)
Accounts payable 2,069 4,026 1,000
Accrued liabilities 4,345 5,501 6,349
Deferred revenue 71,216 64,945 37,374
Other liabilities (35) 1,898 (58)
Net cash provided by operating activities 65,165 52,801 11,846
Cash flows from investing activities      
Acquisitions, net of cash acquired (352,711) (2,512) (40,173)
Payment of deferred consideration (25,000) 0 0
Purchases of equipment and leasehold improvements (9,755) (4,368) (7,190)
Proceeds from sale of equipment and leasehold improvements 48 4 0
Net cash used in investing activities (387,418) (6,876) (47,363)
Cash flows from financing activities      
Proceeds from convertible senior notes 373,750 0 0
Proceeds from bank borrowings 250,000 0 40,000
Payment of bank borrowings (250,000) (205,000) (10,000)
Payment for purchase of capped calls (36,030) 0 0
Debt issuance costs (13,134) (1,264) (1,550)
Payment of debt extinguishment costs 0 (2,050) 0
Proceeds from initial public offering, net of underwriting discounts and commissions 0 326,316 0
Cash paid for offering costs (543) (7,256) (721)
Proceeds from private placement 0 2,233 0
Cash paid for contingent consideration (4,206) 0 0
Payment of deferred consideration (25,000) 0 0
Proceeds from the exercise of stock options 10,691 2,985 923
Net cash provided by financing activities 305,528 115,964 28,652
Effect of exchange rate changes on cash and cash equivalents (993) 604 0
Net (decrease) increase in cash and cash equivalents (17,718) 162,493 (6,865)
Cash and cash equivalents, beginning of period 194,868 32,375 39,240
Cash and cash equivalents, end of period 177,150 194,868 32,375
Cash paid for:      
Interest 967 12,649 20,693
Income taxes, net of refunds 1,334 1,394 596
Non-cash activities:      
Debt issuance costs accrued but not paid 50 0 0
Operating lease assets obtained in exchange for operating lease liabilities 1,470 0 0
Leasehold improvements acquired through lease incentives $ 0 $ 0 $ 2,672