XML 20 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 12,293 $ 1,668
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,373 5,361
Amortization of debt issuance costs 856 863
Non-cash operating lease expense 727 872
Stock-based compensation expense 30,149 46,526
Deferred income taxes (394) (227)
Changes in operating assets and liabilities, net of effects of business acquisitions    
Accounts receivable (5,198) (5,670)
Prepaid expenses and other assets 3,616 (9,844)
Accounts payable (4,442) 4,943
Accrued expenses and other current liabilities (17,197) (67)
Operating lease liabilities (1,228) 631
Other liabilities (435) 429
Net cash provided by operating activities 30,120 45,485
Cash flows from investing activities    
Purchase of property and equipment (1,736) (2,715)
Acquisition, net of cash acquired (6,976) 0
Capitalized software (10,682) (6,980)
Investment in minority equity interest (15,007) 0
Net cash used in investing activities (34,401) (9,695)
Cash flows from financing activities    
Payments on long-term debt (1,758) (1,757)
Repurchases of Class A common stock (83,765) 0
Proceeds from exercise of stock options 3,683 2,372
Employee taxes paid related to net share settlement of equity awards (9,561) (14,633)
Net cash used in financing activities (91,401) (14,018)
Net change in cash, cash equivalents and restricted cash (95,682) 21,772
Cash, cash equivalents and restricted cash    
Beginning of period 941,109 971,591
End of period 845,427 993,363
Non cash investing and financing activities    
Stock-based compensation included in capitalized software 2,012 1,728
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets    
Cash and cash equivalents 845,427 990,463
Restricted cash 0 2,900
Total cash, cash equivalents and restricted cash $ 845,427 $ 993,363