XML 22 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (65,447) $ (44,724)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,218 3,924
Provision for bad debts 144 94
Impairments and reduction in carrying amount of operating lease right-of-use assets 15,817 2,086
Impairments of fixed assets 4,949 0
Loss on extinguishment of debt and amortization of debt discount 0 2,799
Stock-based compensation expense 20,293 20,446
Change in fair value of financial instruments and other expenses 116 9,996
Change in fair value of contingent consideration (122) 0
Deferred income taxes (935) 106
Changes in assets and liabilities:    
Accounts receivable (7,800) (6,549)
Prepaid expenses (2,139) (2,036)
Deferred implementation and commission costs (373) 227
Other assets (current and non-current) (432) 896
Accounts payable (2,524) 556
Accrued expenses and other 9,688 10,228
Operating lease liabilities (2,757) (2,086)
Deferred revenue (4,492) (4,713)
Other liabilities (current and non-current) 1,429 (1,059)
Net cash used in operating activities (28,367) (9,809)
Cash flows from investing activities:    
Purchase of business, net of acquired cash (59,456) 0
Purchases of marketable securities (57) (45,077)
Proceeds from marketable securities 45,174 0
Purchases of property and equipment (1,364) (1,570)
Net cash used in investing activities (15,703) (46,647)
Cash flows from financing activities:    
Payments on borrowings 0 (44,663)
Business Combination and PIPE financing 0 349,638
Payments of equity issuance costs 0 (19,936)
Debt extinguishment costs 0 (1,565)
Payment of deferred purchase price (557) 0
Change in customer funds payable (5,590) (1,636)
Payments on finance leases (223) (177)
Proceeds from common stock issued 3,274 5,651
Taxes paid on net share issuance of stock-based compensation (48) (4,367)
Net cash provided by (used in) financing activities (3,144) 282,945
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (125) 0
Net increase (decrease) in cash, cash equivalents, and restricted cash (47,339) 226,489
Cash, cash equivalents, and restricted cash, beginning of period 212,809 38,843
Cash, cash equivalents, and restricted cash, end of period 165,470 265,332
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 0 135
Noncash Investing & Financing Activities:    
Equity issuance costs charged to additional paid-in-capital 0 1,624
Issuance and vesting of Earnout Shares (Note 3) 0 237,008
Reclassification of stock warrant liability to equity (Note 3) 0 1,433
Deferred purchase price (Note 3) 586 0
Net assets acquired in Business Combination and other $ 0 $ 255