Avalara, inc. (AVLR)
Balance Sheet / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Dec'17
Assets
Current assets:
Cash and cash equivalents

450,535

466,950

446,563

441,584

146,878

142,322

138,093

173,108

14,075

Trade accounts receivable—net of allowance for doubtful accounts of $2,233 and $1,179, respectively

53,797

51,644

49,124

43,409

45,381

40,287

34,743

28,681

26,596

Deferred commissions

9,676

9,279

8,402

7,365

6,062

0

-

-

-

Prepaid expenses and other current assets

18,872

14,127

13,856

11,179

13,255

11,307

10,378

6,375

7,016

Total current assets before customer fund assets

532,880

542,000

517,945

503,537

211,576

193,916

183,214

208,164

47,687

Funds held from customers

28,096

24,383

16,665

24,278

19,365

13,113

11,099

17,910

13,082

Receivable from customers—net of allowance of $305 and $270, respectively

588

420

690

915

1,238

270

330

157

313

Total current assets

561,564

566,803

535,300

528,730

232,179

207,299

194,643

226,231

61,082

Noncurrent assets:
Deferred commissions

30,990

29,137

27,206

23,454

19,582

0

-

-

-

Operating lease right-of-use assets—net

53,929

49,321

-

-

-

0

-

-

-

Property and equipment—net

34,185

34,997

34,537

34,148

33,819

33,373

33,113

32,437

25,394

Intangible assets—net

20,949

22,932

24,543

24,765

26,440

19,371

20,797

22,559

19,074

Goodwill

101,035

101,224

100,926

78,981

78,842

61,300

61,444

70,692

72,482

Other noncurrent assets

3,237

2,853

2,420

2,370

1,824

1,589

1,330

796

780

Total other assets

-

-

-

-

-

-

-

94,047

-

Total assets

805,889

807,267

724,932

692,448

392,686

322,932

311,327

352,715

178,812

Liabilities and shareholders' equity
Current liabilities:
Trade payables

15,289

11,693

10,962

8,197

9,536

4,847

-

4,375

859

Accrued expenses

45,187

62,104

49,864

49,114

41,600

42,101

40,768

36,351

38,164

Deferred revenue

164,699

160,271

147,713

137,997

131,733

125,260

109,323

100,664

83,778

Accrued earnout liabilities

3,671

4,120

6,102

-

-

116

-

-

-

Operating lease liabilities

10,140

8,756

-

-

-

0

-

-

-

Total current liabilities before customer fund obligations

238,986

246,944

214,641

195,308

182,869

172,324

150,091

141,390

122,801

Customer fund obligations

28,817

24,783

17,306

25,245

20,502

13,349

11,530

18,502

14,061

Total current liabilities

267,803

271,727

231,947

220,553

203,371

185,673

161,621

159,892

136,862

Noncurrent liabilities:
Deferred revenue

670

970

753

814

981

9,393

8,886

8,680

8,453

Accrued earnout liabilities

0

9,835

9,399

-

-

0

-

-

-

Operating lease liabilities

59,887

58,301

-

-

-

0

-

-

-

Credit facility

-

-

-

-

-

-

-

25,218

38,840

Deferred rent

-

-

15,905

16,480

16,927

17,317

17,392

15,848

14,689

Deferred tax liability

399

337

698

638

599

560

744

887

1,854

Other noncurrent liabilities

836

2,375

2,361

1,835

1,835

436

435

36

785

Total liabilities

329,595

343,545

261,063

240,320

223,713

213,379

189,078

210,561

201,483

Commitments and contingencies

0

0

0

0

0

0

-

-

-

Shareholders' equity:
Preferred stock, $0.0001 par value– no shares issued and outstanding at March 31, 2020 and December 31, 2019, and 20,000 shares authorized as of March 31, 2020 and December 31, 2019

0

0

0

0

0

0

0

0

0

Common stock, $0.0001 par value– 78,295 and 77,448 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively, and 600,000 shares authorized as of March 31, 2020 and December 31, 2019

8

8

8

8

7

7

7

7

1

Additional paid-in capital

1,003,857

976,627

961,733

937,047

640,996

599,493

593,761

589,321

18,121

Accumulated other comprehensive loss

-2,094

-2,719

-3,122

-2,531

-2,807

-2,345

-2,349

-2,107

338

Accumulated deficit

-525,477

-510,194

-494,750

-482,396

-469,223

-487,602

-469,170

-445,067

-412,052

Total shareholders’ equity

476,294

463,722

463,869

452,128

168,973

109,553

122,249

142,154

-393,592

Total liabilities and shareholders' equity

805,889

807,267

724,932

692,448

392,686

322,932

311,327

352,715

178,812

Series A Convertible Preferred Stock
Convertible preferred stock

-

-

-

-

-

-

-

-

12,715

Series A-1 Convertible Preferred Stock
Convertible preferred stock

-

-

-

-

-

-

-

-

2,081

Series A-2 Convertible Preferred Stock
Convertible preferred stock

-

-

-

-

-

-

-

-

303

Series B Convertible Preferred Stock
Convertible preferred stock

-

-

-

-

-

-

-

-

3,756

Series B-1 Convertible Preferred Stock
Convertible preferred stock

-

-

-

-

-

-

-

-

23,259

Series C Convertible Preferred Stock
Convertible preferred stock

-

-

-

-

-

-

-

-

19,782

Series C-1 Convertible Preferred Stock
Convertible preferred stock

-

-

-

-

-

-

-

-

27,961

Series D Convertible Preferred Stock
Convertible preferred stock

-

-

-

-

-

-

-

-

41,130

Series D-1 Convertible Preferred Stock
Convertible preferred stock

-

-

-

-

-

-

-

-

143,915

Series D-2 Convertible Preferred Stock
Convertible preferred stock

-

-

-

-

-

-

-

-

96,019