XML 21 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income $ 1,668 $ 27,346
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,361 4,345
Amortization of debt issuance costs 863 783
Non-cash operating lease expense 872 1,152
Stock-based compensation 46,526 2,210
Deferred income taxes (227) 2,292
Changes in operating assets and liabilities    
Accounts receivable (5,670) (12,064)
Prepaid expenses and other assets (9,844) (2,821)
Accounts payable 4,943 7,254
Accrued expenses and other current liabilities (67) 15,501
Operating lease liabilities 631 (427)
Other liabilities 429 21
Net cash provided by operating activities 45,485 45,592
Cash flows from investing activities    
Purchase of property and equipment (2,715) (674)
Capitalized software (6,980) (2,733)
Net cash used in investing activities (9,695) (3,407)
Cash flows from financing activities    
Proceeds from long-term debt   28,000
Payments on long-term debt (1,757) (1,757)
Proceeds from exercise of stock options 2,372 692
Proceeds from early exercise of stock options   667
Employee taxes paid related to net share settlement of equity awards (14,633)  
Net cash (used in) provided by financing activities (14,018) 27,602
Net change in cash, cash equivalents and restricted cash 21,772 69,787
Cash, cash equivalents and restricted cash    
Beginning of period 971,591 26,050
End of period 993,363 95,837
Non cash investing and financing activities    
Stock-based compensation included in capitalized software development costs 1,728 291
Capitalized software development costs in accrued expenses and other current liabilities 615 119
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets    
Cash and cash equivalents 990,463 95,837
Restricted cash 2,900  
End of period $ 993,363 $ 95,837