|
Net income
|
|
($4.1m)
|
($19.9m)
|
($16.7m)
|
($22.9m)
|
($56.2m)
|
($89.9m)
|
$46.9m
|
$215.6m
|
$115.4m
|
|
Depreciation and amortization
|
|
$4.2m
|
$4.9m
|
$6.7m
|
$10.2m
|
$10.3m
|
$8.1m
|
$9.4m
|
$14.8m
|
$25.7m
|
|
Amortization of debt issuance costs
|
|
$49k
|
$77k
|
$52k
|
$61k
|
$1.2m
|
$3.0m
|
$2.1m
|
$1.8m
|
$1.8m
|
|
Amortization of operating lease asset
|
|
—
|
—
|
$3.9m
|
$3.9m
|
$3.5m
|
$3.1m
|
$3.3m
|
$2.8m
|
$741k
|
|
Deferred taxes
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($129.3m)
|
$18.5m
|
|
Gain on early extinguishment of convertible senior notes
|
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($38.9m)
|
$0
|
$0
|
|
Operating lease liability
|
|
—
|
—
|
($1.5m)
|
($1.9m)
|
($1.2m)
|
($5.4m)
|
($5.9m)
|
($4.4m)
|
$188k
|
|
Provision for transaction losses
|
|
$4.2m
|
$5.1m
|
$3.1m
|
$2.9m
|
$5.2m
|
$23.3m
|
$8.7m
|
$5.5m
|
$6.7m
|
|
Accretion of discount on purchases of marketable securities, net
|
|
$0
|
$0
|
($1.2m)
|
($320k)
|
$298k
|
($1.5m)
|
($14.4m)
|
($11.9m)
|
($8.2m)
|
|
Tides Foundation common stock warrant expense
|
|
$0
|
$226k
|
$711k
|
$750k
|
$750k
|
$750k
|
$750k
|
$750k
|
$750k
|
|
Stock-based compensation expense
|
|
$6.8m
|
$10.4m
|
$18.8m
|
$25.5m
|
$53.6m
|
$75.5m
|
$74.2m
|
$68.4m
|
$65.4m
|
|
Trade and client receivables
|
|
($8.9m)
|
$3.5m
|
($10.9m)
|
($20.0m)
|
($24.6m)
|
($20.2m)
|
($47.7m)
|
($4.8m)
|
($3.3m)
|
|
Prepaid expenses and other assets
|
|
($479k)
|
($1.3m)
|
($2.1m)
|
($1.2m)
|
($7.0m)
|
($630k)
|
$146k
|
($656k)
|
($2.6m)
|
|
Accounts payable
|
|
$74k
|
$1.6m
|
($1.5m)
|
$5.8m
|
($1.4m)
|
$2.6m
|
($2.5m)
|
$969k
|
($1.2m)
|
|
Accrued expenses and other liabilities
|
|
($6.1m)
|
$2.8m
|
($3.0m)
|
$15.4m
|
$10.3m
|
$3.7m
|
$5.7m
|
$4.7m
|
$27.7m
|
|
Deferred revenue
|
|
$20k
|
$109k
|
$4.4m
|
$4.0m
|
$7.5m
|
$4.3m
|
($14.5m)
|
($10.9m)
|
$489k
|
|
Purchases of marketable securities
|
|
$0
|
$0
|
($168.8m)
|
($107.3m)
|
($525.3m)
|
($581.9m)
|
($709.2m)
|
($362.3m)
|
($485.2m)
|
|
Proceeds from maturities of marketable securities
|
|
$0
|
$0
|
$84.5m
|
$117.5m
|
$102.5m
|
$521.2m
|
$648.8m
|
$486.9m
|
$420.4m
|
|
Proceeds from sale of marketable securities
|
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$165.0m
|
$41.8m
|
$11.3m
|
|
Purchase of an intangible asset
|
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($3.0m)
|
$0
|
$0
|
|
Purchases of property and equipment
|
|
($1.8m)
|
($3.0m)
|
($10.8m)
|
($6.3m)
|
($1.0m)
|
($1.2m)
|
($692k)
|
($3.5m)
|
($5.8m)
|
|
Internal-use software and platform development costs
|
|
($489k)
|
($3.8m)
|
($5.9m)
|
($8.0m)
|
($5.1m)
|
($7.5m)
|
($12.7m)
|
($10.9m)
|
($19.3m)
|
|
Change in escrow funds payable, net
|
|
—
|
—
|
—
|
—
|
—
|
($4.3m)
|
$25.4m
|
$10.0m
|
($6.7m)
|
|
Proceeds from employee stock purchase plan
|
|
$0
|
$0
|
$6.4m
|
$4.9m
|
$4.8m
|
$3.8m
|
$4.1m
|
$4.8m
|
$3.9m
|
|
Net cash paid for early extinguishment of convertible senior notes
|
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($171.3m)
|
$0
|
$0
|
|
Right-of-use asset recognized
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$4.4m
|
$0
|
|
Property and equipment purchased but not yet paid
|
|
$114k
|
$2.8m
|
$161k
|
$37k
|
$22k
|
$0
|
$27k
|
$26k
|
$0
|
|
Internal-use software and platform development costs incurred but not yet paid
|
|
$0
|
$130k
|
$684k
|
$286k
|
$106k
|
$73k
|
$215k
|
$400k
|
$1.1m
|
|
Net cash provided by operating activities
|
|
($4.0m)
|
$13.7m
|
$1.1m
|
$22.4m
|
$10.8m
|
$6.6m
|
$27.2m
|
$153.6m
|
$248.3m
|
|
Acquisition of business, net of cash acquired
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($14.3m)
|
($58.4m)
|
|
Net cash (used in) provided by investing activities
|
|
($2.3m)
|
($6.8m)
|
($100.9m)
|
($4.1m)
|
($429.0m)
|
($69.5m)
|
$88.3m
|
$137.6m
|
($136.9m)
|
|
Proceeds from exercises of stock options and common stock warrant
|
|
$2.5m
|
$8.2m
|
$18.2m
|
$31.0m
|
$7.2m
|
$1.6m
|
$2.0m
|
$3.3m
|
$750k
|
|
Repurchase of common stock
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($100.0m)
|
($136.0m)
|
|
Net cash used in financing activities
|
|
$27.7m
|
$112.1m
|
$29.4m
|
$54.6m
|
$537.7m
|
$6.1m
|
($114.3m)
|
($82.0m)
|
($138.0m)
|
|
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH
|
|
$21.4m
|
$119.0m
|
($70.5m)
|
$72.9m
|
$119.6m
|
($56.8m)
|
$1.2m
|
$209.2m
|
($26.7m)
|
|
Cash, cash equivalents, and restricted cash—beginning of period
|
|
$111.1m
|
$230.1m
|
$159.6m
|
$232.5m
|
$352.1m
|
$295.2m
|
$296.4m
|
$505.6m
|
$478.9m
|
|
Cash paid for interest
|
|
$847k
|
$2.0m
|
$1.3m
|
$764k
|
$373k
|
$1.5m
|
$1.3m
|
$920k
|
$1.2m
|
|
Cash paid for income taxes
|
|
$55k
|
$13k
|
$42k
|
$0
|
$0
|
$0
|
$2.0m
|
$4.6m
|
$13.5m
|