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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 $ (113,056) $ (35,103) $ (27,137)
Adjustments to reconcile net loss to net cash used in operating activities:      
Interest expense - paid in kind 8,817 6,462 9,369
Depreciation and amortization 10,321 5,815 1,880
Stock-based compensation expense 19,673 2,495 899
Amortization of debt issuance costs and original issue discount 2,050 0 0
Amortization of premiums and accretion of discounts on held-to-maturity securities, net 1,224 566 90
Provision for doubtful accounts 1,230 424 210
Deferred income taxes 794 739 277
Realized (gain) loss on sale of investments (952) (146) 6
Net unrealized loss (gain) on equity securities 119 (54) (217)
(Gain) loss on disposal of fixed assets and title plants (10) (345) 56
Change in fair value of warrant and Sponsor Covered Shares liabilities (6,691) 0 0
Change in operating assets and liabilities:      
Accounts receivable (2,149) (2,243) 1,565
Prepaid expenses, deposits and other assets (6,214) (2,261) (591)
Accounts payable 304 2,209 (5,055)
Accrued expenses and other liabilities 17,744 5,126 12,036
Liability for loss and loss adjustments expenses 10,467 7,042 3,492
Net cash used in operating expenses (56,329) (9,274) (3,120)
Cash flow from investing activities:      
Purchase of Acquired Business of NATG, net of cash acquired 0 0 37,270
Acquisition of FTS Agency 0 0 (1,725)
Proceeds from sales, calls and maturities of investments: Held-to-maturity 33,535 18,408 42,191
Proceeds from sales, calls and maturities of investments: Available-for-sale 7,817 0 1,013
Proceeds from sales of investments: Equity securities 2,000 0 0
Proceeds from sales and principal repayments of investments: Mortgage loans 958 390 3,473
Purchase of investments: Held-to-maturity (36,241) (65,403) (9,489)
Purchase of investments: Available-for-sale 0 0 (4,142)
Purchase of investments: Equity securities 0 (1,000) 0
Proceeds from sales of fixed assets 306 0 0
Purchases of fixed assets (32,169) (17,013) (6,990)
Proceeds from sale of title plants and dividends from title plants 666 1,585 0
Net cash used in investing activities (23,128) (63,033) 61,601
Cash flow from financing activities:      
Proceeds from issuance of senior secured credit agreement 150,000 0 0
Borrowing on loan from a related party 0 0 4,000
Repayments on loan from a related party (65,532) (28,431) (13,368)
Debt issuance costs (579) 0 0
Exercise of stock warrants 48 0 0
Exercise of stock options 3,244 391 186
Redemptions of redeemable common and preferred stock (294,856) 0 0
Net proceeds from Business Combination and PIPE Investment 624,952 0 0
Payment of costs directly attributable to the issuance of common stock in connection with Business Combination and PIPE investment (66,014) 0 0
Net cash provided by financing activities 351,263 42,661 67,281
Net change in cash and cash equivalents and restricted cash 271,806 (29,646) 125,762
Cash and cash equivalents and restricted cash at the beginning of period 112,022 141,668 15,906
Cash and cash equivalents and restricted cash at the end of period 383,828 112,022 141,668
Supplemental cash flow disclosures:      
Cash paid for interest 7,320 7 10
Cash paid for income taxes 135 240 0
Supplemental disclosure of non-cash investing and financing activities:      
Unrealized gains (loss) on available-for-sale debt securities (179) 176 510
Conversion of convertible notes to Series A-1 preferred stock and Series A-2 preferred stock 0 0 22,533
Promissory note issued in conjunction with acquisition of joint venture 0 0 500
Issuance of penny warrants related to the senior secured credit agreement (18,519) 0 0
Warrant liabilities recognized in conjunction with the Business Combination 19,240 0 0
Net liabilities assumed in the Business Combination 9,517 0 0
Preferred Stock Series B      
Cash flow from financing activities:      
Proceeds from issuance of Series B and Series C preferred stock, net of financing costs 0 0 24,950
Preferred Stock Series C      
Cash flow from financing activities:      
Proceeds from issuance of Series B and Series C preferred stock, net of financing costs $ 0 $ 70,701 $ 51,513