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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net (loss) income $ (953,883) $ (541,091) $ 27,993
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 2,676 2,553 2,334
Stock-based compensation 210,912 18,745 8,611
Change in fair value of derivative liabilities – Class B Units 728,079 456,457 (3,003)
Change in fair value of derivative liabilities – other (18,017) 3,069 478
Deferred taxes 2,358 0 0
Unrealized losses on foreign currency (38) 0 (131)
Noncash lease expense 1,894 2,577 3,102
Gain on sale of cryptocurrencies (105) 0 (605)
Changes in operating assets and liabilities:      
Accounts receivable 4,593 (5,066) (6,513)
Related party receivables and payables, net (1,167) (4,670) (13,777)
Prepaid expenses (4,513) (3,423) (2,028)
Other current assets and other assets (744) (841) (335)
Cryptocurrency intangible assets 109 30 928
Deferred contract acquisition costs (95,835) (64,921) (6,750)
Trade and other payables (7,282) 6,990 (5,215)
Accrued expenses 14,205 (1,392) 10,065
Deferred revenue 175,553 178,849 36,667
Derivative liabilities 662 0 0
Operating lease liabilities (1,154) (2,084) (2,484)
Other current and long-term liabilities 5,329 10,093 4,864
Net cash provided by operating activities 63,632 55,875 54,201
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash acquired (7,139) 0 (1,483)
Cash deposit for business combination 0 0 15,000
Acquisition of TradeSmith non-controlling interests, including transaction costs 0 (9,164) (193)
Purchases of property and equipment (157) (290) (177)
Purchases of intangible assets (892) (195) 0
Capitalized software development costs (123) 0 (752)
Net cash (used in) provided by investing activities (8,311) (9,649) 12,395
Cash flows from financing activities:      
Principal payments on long-term debt – related party 0 (5,390) (1,932)
Net proceeds from the Transactions 113,641 0 0
Issuance of related party notes receivable (11) (1,148) (3,107)
Proceeds from related party notes receivable 0 5,446 0
Repurchases of stock (3,340) 0 0
Distributions to members (135,451) (101,767) (20,471)
Distributions to noncontrolling interests (5,517) (510) (1,831)
Net cash used in financing activities (30,678) (103,369) (27,341)
Effect of exchange rate changes on cash 8 (14) (41)
Net increase in cash, cash equivalents and restricted cash 24,651 (57,157) 39,214
Cash, cash equivalents and restricted cash — beginning of year 114,927 172,084 132,870
Cash, cash equivalents and restricted cash — end of year $ 139,578 $ 114,927 $ 172,084