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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income (loss) $ 2,003 $ (9,860)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization expense 2,183 1,487
Amortization of deferred contract costs 3,016 2,397
Amortization (accretion) of premiums and discounts on investments (1,071) (1,716)
Non-cash lease expense 1,164 895
Stock-based compensation expense 5,115 2,796
Non-cash interest expense 0 53
Change in fair value of convertible debt securities 0 (134)
Deferred taxes (100) 4
Other non-cash items 844 568
Changes in operating assets and liabilities    
Accounts receivable 782 (1,104)
Deferred contract costs (3,455) (2,587)
Prepaid expenses and other current assets (2,275) (651)
Accounts payable 1,012 (4,226)
Accrued expenses 1,414 2,469
Other current liabilities (390) 4
Deferred revenue 5,658 7,005
Other long-term liabilities 0 0
Change in operating lease liability (1,121) (1,009)
Net cash provided by (used in) operating activities 14,779 (3,609)
Investing Activities    
Purchases of property and equipment (759) (268)
Purchases of short-term investments (46,706) (103,751)
Proceeds from sales and maturities of short-term investments 25,000 87,741
Purchases of convertible debt securities 0 (323)
Funding of investment loan receivable (7,000) 0
Capitalization of internal-use software costs (2,015) (1,056)
Cash paid for acquisition of businesses, net of cash acquired (501) (1,082)
Purchases of other investments 0 (150)
Net cash used in investing activities (31,981) (18,889)
Financing Activities    
Proceeds from exercise of stock options 844 67
Proceeds from issuance of shares in connection with employee stock purchase plan 0 264
Payment of finance leases (410) (782)
Net cash provided by (used in) financing activities 434 (451)
Effect of exchange rate changes on cash and cash equivalents (507) 73
Decrease in cash, cash equivalents and restricted cash (17,275) (22,876)
Cash, cash equivalents and restricted cash, beginning of period 58,848 79,765
Cash, cash equivalents and restricted cash, end of period 41,573 56,889
Supplemental cash flow disclosures    
Cash paid for interest 0 56
Cash paid for income taxes 199 53
Property and equipment purchases not paid 9 46
Unrealized loss on short-term investments $ 744 $ 83