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CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income (loss) $ (31,313) $ 3,888
Adjustments to reconcile net income (loss) to net cash flows provided by operating activities:    
Depreciation and amortization 22,601 22,676
Share-based compensation expenses 16,082 19,829
Net loss (gain) from financing expenses (328) 671
Revaluation of the Warrants liability (1,676) (14,042)
Amortization of loan and credit facility issuance costs 500 358
Amortization of premium and accretion of discount on short-term investments, net (281) 0
Change in operating assets and liabilities:    
Decrease in trade receivables, net 44,362 45,935
Decrease (increase) in prepaid expenses and other current assets and long-term prepaid expenses 721 (3,317)
Decrease in trade payables (22,807) (45,864)
Decrease in accrued expenses and other current liabilities and other long-term liabilities (13,439) (16,544)
Increase (decrease) in deferred taxes, net 2,790 (4,086)
Change in operating lease right of use assets 4,151 2,895
Change in operating lease liabilities (3,839) (4,276)
Net cash provided by operating activities 17,524 8,123
Cash flows from investing activities    
Purchase of property and equipment, including capitalized internal-use software (6,350) (6,902)
Cash paid in connection with acquisitions, net of cash acquired 0 (620)
Investments in restricted deposits (280) 0
Investment in short-term deposits 0 (40,026)
Proceeds from sales and maturities of short-term investments 41,940 0
Payments of cash in escrow for acquisition of a subsidiary 0 (2,100)
Net cash provided by (used in) investing activities 35,310 (49,648)
Cash flows from financing activities    
Exercise of options and vested RSUs 1,335 3,399
Payment of tax withholding for share-based compensation expenses (791) (1,845)
Repayment of long-term loan (750) (750)
Net cash provided by (used in) financing activities (206) 804
Exchange rate differences on balances of cash and cash equivalents 328 (671)
Increase (decrease) in cash and cash equivalents 52,956 (41,392)
Cash and cash equivalents - at the beginning of the period 165,893 319,319
Cash and cash equivalents - at end of the period 218,849 277,927
Supplemental disclosures of cash flow information:    
Income taxes 4,258 2,418
Interest 5,067 3,570
Non-cash investing and financing activities:    
Purchase of property and equipment, including capitalized internal-use software 36 1,809
Share-based compensation included in capitalized internal-use software 652 517
Creation of operating lease right-of-use assets $ 5,045 $ 0