|
Net income (loss)
|
|
($18.2m)
|
($15.1m)
|
($20.3m)
|
($27.3m)
|
($118.2m)
|
($176.1m)
|
($136.9m)
|
($58.5m)
|
$2.3m
|
|
Depreciation and amortization
|
|
$9.6m
|
$11.6m
|
$13.9m
|
$15.9m
|
$21.3m
|
$25.3m
|
$29.5m
|
$27.9m
|
$31.5m
|
|
Amortization of deferred financing costs and debt discount
|
|
—
|
—
|
$445k
|
$389k
|
$288k
|
$310k
|
$321k
|
$236k
|
$3.0m
|
|
Deferred contract acquisition costs amortization
|
|
$1.4m
|
$1.6m
|
$2.0m
|
$2.0m
|
$2.2m
|
$1.7m
|
$1.1m
|
$1.8m
|
$570k
|
|
Deferred taxes
|
|
$0
|
$0
|
($775k)
|
($65k)
|
$143k
|
$434k
|
$228k
|
$214k
|
($13.3m)
|
|
Treasury stock to satisfy tax withholdings on stock compensation awards
|
|
—
|
$0
|
$0
|
($5.0m)
|
($9.0m)
|
($19.4m)
|
($12.2m)
|
$0
|
$0
|
|
Loss on extinguishment of debt
|
|
$0
|
$0
|
$1.1m
|
$0
|
$0
|
$0
|
$1.1m
|
$0
|
$501k
|
|
Non-cash operating lease expense
|
|
($11.1m)
|
$0
|
$0
|
$1.8m
|
$1.0m
|
$1.8m
|
$702k
|
$747k
|
$914k
|
|
Right of use assets acquired in exchange for operating lease liabilities
|
|
—
|
$0
|
$0
|
$4.4m
|
$81k
|
$0
|
$398k
|
$2.0m
|
$0
|
|
Stock-based compensation expense
|
|
$805k
|
$1.4m
|
$6.2m
|
$13.5m
|
$36.1m
|
$58.8m
|
$71.6m
|
$67.0m
|
$67.5m
|
|
Non-cash gain on settlement
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($2.3m)
|
$0
|
|
Cost of Phreesia hardware purchased by customers
|
|
$0
|
$585k
|
$741k
|
$762k
|
$672k
|
$1.6m
|
$1.6m
|
$1.9m
|
$1.0m
|
|
Gains and losses for fair value option
|
|
—
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($1.0m)
|
|
Accounts receivable
|
|
($3.4m)
|
($3.8m)
|
($5.9m)
|
($6.6m)
|
($10.2m)
|
($11.1m)
|
($11.2m)
|
($8.8m)
|
($23.4m)
|
|
Collections of principal on receivables originally held for sale to securitization
|
|
—
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$13.7m
|
|
Accrued Interest Receivable
|
|
—
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($446k)
|
|
Prepaid expenses and other assets
|
|
($319k)
|
($576k)
|
($312k)
|
($1.6m)
|
($7.2m)
|
$250k
|
($2.2m)
|
($1.4m)
|
($1.4m)
|
|
Deferred contract acquisition costs
|
|
($1.8m)
|
($2.5m)
|
($2.1m)
|
($1.7m)
|
($3.3m)
|
($427k)
|
$0
|
($1.0m)
|
($334k)
|
|
Accounts payable
|
|
($2.1m)
|
$2.4m
|
($30k)
|
($3.8m)
|
$2.9m
|
$4.8m
|
($2.0m)
|
($3.2m)
|
$5.3m
|
|
Accrued expenses and other liabilities
|
|
$2.0m
|
($2.3m)
|
$3.7m
|
$6.0m
|
($3.0m)
|
$2.7m
|
$14.2m
|
$182k
|
$2.9m
|
|
Payment of due to provider for receivables originally held for sale to securitization
|
|
—
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($17.6m)
|
|
Lease liabilities
|
|
—
|
$0
|
$0
|
($1.8m)
|
($1.1m)
|
($1.3m)
|
($1.2m)
|
($824k)
|
($1.1m)
|
|
Deferred revenue
|
|
($723k)
|
$1.6m
|
($1.1m)
|
$5.4m
|
$3.3m
|
$1.3m
|
$731k
|
$8.7m
|
$8.3m
|
|
Acquisitions, net of cash acquired
|
|
—
|
($1.2m)
|
$0
|
($6.5m)
|
($34.4m)
|
$0
|
($14.6m)
|
$0
|
($153.2m)
|
|
Capitalized internal-use software
|
|
($5.4m)
|
($5.1m)
|
($5.3m)
|
($7.3m)
|
($12.4m)
|
($21.5m)
|
($19.3m)
|
($15.4m)
|
($13.3m)
|
|
Purchases of property and equipment
|
|
($6.6m)
|
($4.7m)
|
($7.0m)
|
($11.2m)
|
($18.4m)
|
($4.7m)
|
($5.8m)
|
($8.7m)
|
($11.1m)
|
|
Proceeds from employee stock purchase plan
|
|
—
|
—
|
$0
|
$0
|
$2.0m
|
$3.3m
|
$3.2m
|
$2.9m
|
$2.4m
|
|
Finance lease payments
|
|
—
|
($2.5m)
|
($1.9m)
|
($2.6m)
|
($4.3m)
|
($5.7m)
|
($6.8m)
|
($7.8m)
|
($6.8m)
|
|
Constructive financing
|
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$1.7m
|
$0
|
$0
|
|
Principal payments on financing agreements
|
|
—
|
—
|
$0
|
($1.7m)
|
($1.0m)
|
($216k)
|
($600k)
|
($1.2m)
|
($1.3m)
|
|
Financing payments of acquisition-related liabilities
|
|
—
|
—
|
$0
|
$0
|
($3.3m)
|
$0
|
($1.3m)
|
($6.3m)
|
$0
|
|
Debt extinguishment costs
|
|
$0
|
$0
|
($300k)
|
$0
|
$0
|
$0
|
($758k)
|
$0
|
$0
|
|
Payments due to provider for unfunded receivables
|
|
—
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($9.6m)
|
|
Non-cash activity related to credit card receivables and deferred purchase price
|
|
—
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$17.6m
|
|
Property and equipment acquisitions through finance leases
|
|
$781k
|
$4.4m
|
$2.0m
|
$8.9m
|
$7.4m
|
$526k
|
$7.4m
|
$13.7m
|
$0
|
|
Purchase of property and equipment and capitalized software included in accounts payable and accrued liabilities
|
|
$0
|
$0
|
$1.3m
|
$3.4m
|
$1.1m
|
$2.3m
|
$1.3m
|
$1.8m
|
$2.0m
|
|
Capitalized stock-based compensation
|
|
—
|
—
|
$0
|
$0
|
$489k
|
$1.4m
|
$1.4m
|
$1.4m
|
$1.3m
|
|
Issuance of stock to settle liabilities for stock-based compensation
|
|
$0
|
$162k
|
$0
|
$0
|
$0
|
$12.3m
|
$12.3m
|
$11.9m
|
$12.7m
|
|
Deferred consideration liabilities payable in business combinations
|
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$8.7m
|
$0
|
$0
|
|
Issuance of stock as consideration in business combinations
|
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$35.3m
|
$0
|
$0
|
|
Capitalized software acquired through vendor financing
|
|
—
|
$0
|
$0
|
$174k
|
$0
|
$0
|
$2.0m
|
$0
|
$0
|
|
Interest
|
|
$2.8m
|
$2.8m
|
$2.3m
|
$1.5m
|
$802k
|
$763k
|
$1.3m
|
$2.2m
|
$1.6m
|
|
Income taxes
|
|
—
|
$0
|
$0
|
$64k
|
$49k
|
$39k
|
$37k
|
$3.1m
|
$1.9m
|
|
Net cash provided by (used in) operating activities
|
|
($11.1m)
|
($2.1m)
|
$826k
|
$2.9m
|
($74.7m)
|
($90.1m)
|
($32.4m)
|
$32.4m
|
$78.8m
|
|
Collections of cardholder receivables held for investment and deferred purchase price
|
|
—
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$15.7m
|
|
Net cash used in investing activities
|
|
($12.0m)
|
($11.0m)
|
($12.3m)
|
($25.1m)
|
($65.2m)
|
($26.2m)
|
($39.7m)
|
($24.1m)
|
($161.9m)
|
|
Debt issuance costs and loan facility fee payments
|
|
—
|
—
|
—
|
($294k)
|
($125k)
|
($397k)
|
($1.3m)
|
($152k)
|
($3.2m)
|
|
Proceeds from debt instruments
|
|
—
|
$14.8m
|
$9.9m
|
$0
|
$0
|
—
|
$0
|
$0
|
$110.0m
|
|
Principal payments on debt instruments
|
|
—
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($20.0m)
|
|
Proceeds from issuance of common stock upon exercise of stock options
|
|
$147k
|
$361k
|
$1.8m
|
$4.4m
|
$4.9m
|
$1.6m
|
$955k
|
$1.0m
|
$1.5m
|
|
Net cash provided by (used in) financing activities
|
|
$31.3m
|
$4.2m
|
$100.3m
|
$150.7m
|
$235.0m
|
($20.8m)
|
($17.1m)
|
($11.5m)
|
$72.9m
|
|
Effect of exchange rate changes on cash, cash equivalents and restricted cash
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($106k)
|
($176k)
|
|
Net decrease in cash, cash equivalents and restricted cash
|
|
$8.2m
|
($9.0m)
|
$88.8m
|
$128.5m
|
$95.0m
|
($137.1m)
|
($89.2m)
|
($3.3m)
|
($10.4m)
|
|
Cash and cash equivalents—beginning of year
|
|
$10.5m
|
$1.5m
|
$90.3m
|
$218.8m
|
$313.8m
|
$176.7m
|
$87.5m
|
$84.2m
|
$73.8m
|