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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income (loss) $ 3,364 $ (10,139)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization expense 4,269 3,135
Amortization of deferred contract costs 6,054 4,855
Amortization (accretion) of premiums and discounts on investments (2,023) (3,201)
Non-cash lease expense 2,233 1,886
Stock-based compensation expense 12,281 6,561
Non-cash interest expense 0 105
Change in fair value of convertible debt securities 0 (380)
Deferred taxes (217) 81
Other non-cash items 1,400 649
Changes in operating assets and liabilities    
Accounts receivable (774) (422)
Deferred contract costs (6,129) (5,768)
Prepaid expenses and other current assets (4,017) (5,869)
Accounts payable 1,906 (5,184)
Accrued expenses 2,917 (1,390)
Other current liabilities 360 0
Deferred revenue 7,353 6,958
Other long-term liabilities 92 0
Change in operating lease liability (2,147) (1,800)
Net cash provided by (used in) operating activities 26,922 (9,923)
Investing Activities    
Purchases of property and equipment (2,906) (957)
Capitalization of internal-use software costs (4,369) (2,630)
Purchases of short-term investments (83,605) (172,687)
Proceeds from sales and maturities of short-term investments 102,500 132,741
Purchases of convertible debt securities (650) (323)
Funding of investment loan receivable (7,000) 0
Cash paid for acquisition of businesses, net of cash acquired (10,026) (1,082)
Purchases of other investments (131) (150)
Net cash used in investing activities (6,187) (45,088)
Financing Activities    
Proceeds from exercise of stock options 3,053 302
Proceeds from issuance of shares in connection with employee stock purchase plan 0 264
Payment of finance leases (493) (1,209)
Net cash provided by (used in) financing activities 2,560 (643)
Effect of exchange rate changes on cash and cash equivalents (614) (39)
Increase (decrease) in cash, cash equivalents and restricted cash 22,681 (55,693)
Cash, cash equivalents and restricted cash, beginning of period 58,848 79,765
Cash, cash equivalents and restricted cash, end of period 81,529 24,072
Supplemental cash flow disclosures    
Cash paid for interest 0 107
Cash paid for income taxes 3,638 1,160
Property and equipment purchases not paid 21 111
Right-of-use assets obtained in exchange for new operating lease liabilities 931 0
Accrued purchase consideration 2,924 0
Unrealized loss on short-term investments $ 928 $ 1,243