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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (156,559) $ (106,606) $ (54,032)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 27,930 16,386 6,644
Amortization of operating lease right-of-use assets 2,117 1,861  
Impairment loss on intangible assets and goodwill 61,386    
Loss on sale and impairment of property, equipment, and software 745 595 895
Gain on extinguishment of debt   (5,110) (5,748)
Loss on remeasurement of debt     895
Gain on divestiture of businesses     (1,442)
Loss on remeasurement of Legacy Porch warrants     2,584
Loss (gain) on remeasurement of private warrant liability (14,486) 15,389 (2,427)
Loss (gain) on remeasurement of contingent consideration 6,944 (2,244) 1,700
Loss (gain) on remeasurement of earnout liability (13,822) 18,519  
Stock-based compensation 27,041 38,592 11,296
Amortization of investment premium/accretion of discount, net 278 369  
Net realized losses on investments 370 67  
Interest expense (non-cash) 2,270 2,387 7,488
Other 885 1,055  
Other     (23)
Change in operating assets and liabilities, net of acquisitions and divestitures      
Accounts receivable (4,886) (2,905) 203
Reinsurance balance due (70,644) (15,343)  
Prepaid expenses and other current assets (5,146) (5,323) (2,587)
Accounts payable (697) (11,779) 4,092
Accrued expenses and other current liabilities (6,519) (15,981) (15,946)
Losses and loss adjustment expense reserves 38,683 (22,417)  
Other insurance liabilities, current 21,686 14,396  
Deferred revenue 66,254 53,556 2,206
Refundable customer deposits 6,537 (3,545) (3,521)
Deferred income tax (287)    
Long-term insurance commissions receivable (4,744) (4,156) (3,365)
Operating lease liabilities, non-current (2,082) (2,141)  
Other (990) (399) 2,419
Net cash used in operating activities (17,736) (34,777) (48,669)
Cash flows from investing activities:      
Purchases of property and equipment (2,350) (972) (279)
Capitalized internal use software development costs (8,100) (3,719) (2,601)
Purchases of short-term and long-term investments (52,506) (24,006)  
Maturities, sales of short-term and long-term investments 21,906 21,694  
Acquisitions, net of cash acquired (38,628) (256,430) (7,791)
Net cash used in investing activities (79,678) (263,433) (10,671)
Cash flows from financing activities:      
Proceeds from recapitalization and PIPE financing     305,133
Distribution to stockholders     (30,000)
Transaction costs - recapitalization   (262) (5,652)
Proceeds from debt issuance, net of fees 33,643 413,537 66,190
Repayments of advance funding (22,746)    
Repayments of principal and related fees (5,150) (46,965) (81,640)
Proceeds from issuance of redeemable convertible preferred stock, net of fees     4,714
Capped call transactions   (52,913)  
Proceeds from exercises of warrants   126,741  
Proceeds from exercises of stock options and Legacy Porch warrants 1,116 4,288 911
Income tax withholdings paid upon vesting of restricted stock units (3,108) (28,877)  
Payments of acquisition-related contingent consideration (715)    
Repurchase of stock (1,813)   (42)
Net cash provided by financing activities 1,227 415,549 259,614
Net change in cash, cash equivalents, and restricted cash (96,187) 117,339 200,274
Cash, cash equivalents, and restricted cash, beginning of period 324,792 207,453 7,179
Cash, cash equivalents, and restricted cash end of period 228,605 324,792 207,453
Supplemental disclosures      
Cash paid for interest 3,512 2,662 9,103
Cash paid for income taxes 674    
Non-cash consideration for acquisitions 12,252 52,761 9,295
Share repurchases included in accrued expenses and other current liabilities $ 2,539    
Reduction of earnout liability due to a vesting event   $ 54,891  
Conversion of redeemable convertible preferred stock warrants into common stock     11,029
Earnout liability     50,238
Private warrant liability     31,534
Capital contribution from a shareholder - inducement to convert preferred stock to common     17,284
Non-cash inducement to convert preferred stock to common     17,284
Debt discount for warrants issued (non-cash)     1,215
Cancelation of a convertible promissory note on divestiture of a business     2,724
Conversion of debt to redeemable convertible preferred stock (non-cash)     1,436
Capital contribution from a shareholder - guarantee of debt     $ 300