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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (56,858) $ (21,593)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,449 3,205
Stock-based compensation 31,263 10,436
Amortization of debt discount and issuance costs 15,724  
Amortization of premium (accretion of discount) on investments in marketable debt securities 1,970 (2,855)
Non-cash operating lease expense 2,635  
Revaluation of warrant liabilities   717
Deferred income tax (333)  
Changes in assets and liabilities:    
Accounts receivable (5,332) 958
Unbilled revenue (1,316) (1,356)
Prepaid expenses and other current assets (4,833) (10,843)
Other assets (11,799) (1,047)
Accounts payable 927 (1,475)
Accrued and other current liabilities 58 6,893
Operating lease liabilities 7,782  
Other long-term liabilities 576 10,689
Deferred revenue 2,924 2,944
Net cash used in operating activities (13,163) (3,327)
Cash flows from investing activities:    
Purchases of corporate and customer fund short-term investments (1,486,025) (830,694)
Proceeds from maturities of corporate and customer fund short-term investments 830,933 596,311
Proceeds from sale of corporate and customer fund short-term investments 119,072 25,337
Increase in other receivables included in funds held for customers (9,072) (6,601)
Purchases of property and equipment (17,062) (5,736)
Capitalization of internal-use software costs (1,038) (489)
Net cash used in investing activities (563,192) (221,872)
Cash flows from financing activities:    
Proceeds from issuance of convertible senior notes, net of discount and issuance costs 1,129,379  
Purchase of capped calls (87,860)  
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs   225,544
Increase in customer fund deposits liability 285,590 24,246
Payments on line of credit borrowings (2,300)  
Proceeds from line of credit borrowings   2,300
Proceeds from exercise of stock options 23,034 1,746
Proceeds from issuance of common stock under the employee stock purchase plan 8,864  
Payments of offering costs related to the follow-on public offering (664)  
Proceeds from exercise of stock warrants   144
Payments of deferred debt issuance costs   (151)
Net cash provided by financing activities 1,356,043 253,829
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 779,688 28,630
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period 1,592,377 983,168
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period 2,372,065 1,011,798
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows above:    
Cash and cash equivalents 1,223,724 228,585
Restricted cash included in other current assets $ 35 $ 256
Restricted Cash, Current, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssetsCurrent us-gaap:OtherAssetsCurrent
Restricted cash and restricted cash equivalents included in funds held for customers $ 1,148,306 $ 782,957
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period $ 2,372,065 $ 1,011,798