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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (292,325) $ (199,854)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Depreciation and amortization 23,355 7,572
(Gain) loss on disposal of property and equipment (17) 129
Change in fair value of distribution liability for tax sharing agreement (1,500) 0
Reduction of right-of-use assets from operating leases 7,501 5,704
Stock-based compensation expense, including cash settled [1] 268,261 202,999
Amortization of deferred contract acquisition costs 15,812 11,213
Deferred income taxes (227) (554)
Changes in assets and liabilities:    
Accounts receivable, net 95,414 37,072
Prepaid expenses and other current assets (7,259) (1,138)
Deferred contract acquisitions costs (26,809) (13,519)
Other assets (1,033) (7,415)
Lease liabilities (3,723) (743)
Accounts payable (13,472) (10,855)
Accrued liabilities (40,146) (25,731)
Deferred revenue 1,969 (4,208)
Other liabilities (16) 1,240
Settlement of stock-based payments liabilities (2,682) (71,997)
Net cash flows provided by (used in) operating activities 23,103 (70,085)
Cash flows from investing activities    
Purchases of property and equipment (13,173) (11,149)
Net cash flows used in investing activities (13,173) (11,149)
Cash flows from financing activities    
Proceeds from capital contributions from SAP 0 115,000
Proceeds from issuance of class A common stock, net of underwriting discounts and commissions 0 2,244,322
Payment of costs related to issuance of class A common stock 0 (2,557)
Repayment of promissory note 0 (1,892,280)
Payments for taxes related to net share settlement of equity awards (208,920) 0
Issuance of class A common stock through Employee Stock Purchase Plan 20,380 0
Proceeds from exercise of stock options 614 0
Net cash flows (used in) provided by financing activities (187,926) 464,485
Effect of changes in exchange rates on cash and cash equivalents (67) (606)
Net (decrease) increase in cash and cash equivalents (178,063) 382,645
Cash and cash equivalents, beginning of period 1,014,511 203,891
Cash and cash equivalents, end of period 836,448 586,536
Supplemental cash flow disclosures    
Cash paid for income taxes 673 2,151
Cash paid for operating leases, net of incentives received 5,662 800
Modification of cash-settled stock-based compensation awards into equity-settled awards 0 206,313
Non-cash investing and financing activities    
Capital expenditures incurred but not yet paid 759 8
Right-of-use assets obtained in exchange for lease obligations 15,761 0
Note payable issued for dividend declared 0 500,000
Costs related to initial public offering incurred but not yet paid $ 0 $ 524
[1] During the three months ended March 31, 2022, employer payroll tax on employee stock transactions reported in cost of subscription revenue, cost of professional services and other revenue, research and development, sales and marketing, and general and administrative expense was $0.3 million, $0.4 million, $3.2 million, $2.1 million, and $6.0 million, respectively. Employer payroll tax on employee stock transactions was not material during the three months ended March 31, 2021.