XML 18 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ 55,496 $ 10,878
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,036 24,692
Amortization of debt issuance costs 1,695 1,710
Non-cash operating lease expense 2,055 1,509
Stock-based compensation expense 43,396 61,782
Change in fair value of contingent consideration 0 240
Deferred income taxes (62,980) (336)
Loss on operating lease assets 374 0
Loss on minority equity interest investment 1,808 0
Changes in operating assets and liabilities, net of effects of business acquisitions    
Accounts receivable (6,237) (4,362)
Prepaid expenses and other assets (13,574) (8,439)
Accounts payable (10,972) (1,860)
Accrued expenses and other current liabilities 18,418 (2,089)
Operating lease liabilities (665) (2,156)
Other liabilities 2,304 (400)
Net cash provided by operating activities 62,154 81,169
Cash flows from investing activities    
Purchase of property and equipment (440) (3,172)
Acquisitions, net of cash acquired 0 (156,853)
Capitalized software (28,807) (22,977)
Investment in minority equity interest 0 (15,007)
Net cash used in investing activities (29,247) (198,009)
Cash flows from financing activities    
Payments on long-term debt (3,515) (3,515)
Repurchases of Class A common stock (18,437) (83,765)
Proceeds from exercise of stock options 1,267 7,839
Employee taxes paid related to net share settlement of equity awards (8,048) (14,288)
Proceeds from employee stock purchase plan 649 0
Net cash used in financing activities (28,084) (93,729)
Net change in cash and cash equivalents 4,823 (210,569)
Cash and cash equivalents    
Beginning of period 757,165 941,109
End of period 761,988 730,540
Non cash investing and financing activities:    
Stock-based compensation included in capitalized software 6,221 3,845
Capitalized software included in accounts payable and accrued expenses and other current liabilities 4,232 3,272
Capitalized software transferred from prepaid assets $ 5,751 $ 0