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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (13,274) $ (782)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,105 1,573
Stock-based compensation 5,351 1,201
Accretion of discount on investment in marketable debt securities (2,346) (461)
Revaluation of warrant liabilities and forfeiture of warrants 717 (305)
Issuance of warrants   52
Deferred income taxes   (44)
Changes in assets and liabilities:    
Accounts receivable (393) (2,372)
Unbilled revenue (1,114) (883)
Prepaid expenses and other current assets (1,608) (2,996)
Other assets (581) (601)
Accounts payable 1,146 2,259
Accrued and other current liabilities 4,551 855
Other long-term liabilities 187 (109)
Deferred revenue 1,110 434
Net cash used in operating activities (4,149) (2,179)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of corporate and customer fund short-term investments (414,648) (415,326)
Proceeds from maturities of corporate and customer fund short-term investments 407,236 382,984
Proceeds from sale of corporate and customer fund short-term investments 22,725 29,162
Increase in restricted cash and cash equivalents and other receivables included in funds held for customers (173,730) (298,650)
Purchases of property and equipment (2,972) (1,571)
Capitalization of internal-use software costs (340) (833)
Decrease in restricted cash 550  
Net cash used in investing activities (161,179) (304,234)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs 226,565  
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs   69,801
Increase in customer fund deposits liability 162,457 297,813
Payments on bank borrowings   (417)
Proceeds from exercise of stock options 901 949
Proceeds from exercise of stock warrants 144  
Payments of deferred debt issuance costs (151)  
Net cash provided by financing activities 389,916 368,146
NET INCREASE IN CASH AND CASH EQUIVALENTS 224,588 61,733
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 90,306 22,401
CASH AND CASH EQUIVALENTS, END OF PERIOD 314,894 84,134
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 146 294
NONCASH FINANCING ACTIVITIES:    
Conversion of redeemable convertible preferred stock into common stock upon initial public offering 276,307  
Reclassification of redeemable convertible preferred stock warrant liabilities into additional paid-in capital upon initial public offering 1,405  
Accrued offering costs $ 1,084  
Accrued preferred stock issuance costs   $ 2,700