| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-50,214 | -75,550 | -64,126 | -57,888 | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Stock-based compensation | ||||||
34,349 | 15,921 | 11,757 | 8,112 | |||
Depreciation and amortization | ||||||
15,807 | 12,802 | 10,859 | 10,425 | |||
Goodwill impairment | ||||||
0 | 9,174 | 8,418 | 0 | |||
Deferred tax expense | ||||||
-223 | -1,294 | -1,307 | 134 | |||
Amortization of deferred rent | ||||||
0 | 190 | -698 | 789 | |||
Non-cash operating lease costs | ||||||
5,000 | 0 | 0 | - | |||
Non-cash change in earnout liabilities | ||||||
-1,043 | -402 | -715 | 361 | |||
Change in preferred stock warrant liability | ||||||
- | - | - | -28 | |||
Non-cash bad debt expense | ||||||
1,367 | -288 | -86 | 2,907 | |||
Other | ||||||
340 | 559 | 270 | 368 | |||
Changes in operating assets and liabilities: | ||||||
Trade accounts receivable | ||||||
12,862 | 13,508 | -159 | 11,143 | |||
Prepaid expenses and other current assets | ||||||
3,544 | 4,850 | 1,055 | 29 | |||
Accrued expenses and other current liabilities | ||||||
- | - | - | 4,414 | |||
Deferred commissions | ||||||
-19,149 | 0 | 0 | - | |||
Other noncurrent assets | ||||||
1,265 | 808 | -725 | -802 | |||
Trade payables | ||||||
5,783 | -4,419 | -112 | 2,853 | |||
Accrued expenses | ||||||
16,246 | 15,266 | 2,124 | - | |||
Deferred revenue | ||||||
37,558 | 42,422 | 19,752 | 16,227 | |||
Operating lease liabilities | ||||||
-5,764 | 0 | 0 | - | |||
Deferred rent | ||||||
0 | 1,723 | 10,494 | - | |||
Net cash used in operating activities | ||||||
22,386 | -3,062 | -3,541 | -21,696 | |||
Cash flows from investing activities: | ||||||
Purchase of property and equipment | ||||||
10,180 | 15,483 | 13,955 | 6,660 | |||
Cash paid for acquisitions of businesses | ||||||
30,310 | 0 | 0 | 17,218 | |||
Cash paid for acquired intangible assets | ||||||
139 | 5,002 | 0 | - | |||
Net increase in customer fund assets | ||||||
11,506 | -118 | 2,301 | 5,816 | |||
Net cash used in investing activities | ||||||
-52,135 | -20,367 | -16,256 | -29,694 | |||
Cash flows from financing activities: | ||||||
Proceeds from common stock offering, net of underwriting discounts | ||||||
274,705 | 192,510 | 0 | - | |||
Payments of deferred financing costs | ||||||
555 | 2,084 | 1,240 | - | |||
Proceeds from exercise of stock options and common stock warrants | ||||||
58,019 | 7,041 | 920 | 1,013 | |||
Proceeds from purchases of stock under employee stock purchase plan | ||||||
12,293 | 0 | 0 | - | |||
Convertible preferred stock issuance costs | ||||||
- | - | - | 133 | |||
Taxes paid related to net share settlement of stock-based awards | ||||||
1,183 | 2,365 | 811 | 1,776 | |||
Proceeds from issuance of convertible preferred stock | ||||||
- | - | - | 96,152 | |||
Repurchase of shares | ||||||
0 | 1,806 | 0 | 43,185 | |||
Payment related to business combination earnouts | ||||||
375 | 1,523 | 1,662 | 1,325 | |||
Payments on credit facility | ||||||
0 | 63,000 | 2,935 | 52,000 | |||
Proceeds from credit facility | ||||||
0 | 23,000 | 17,605 | 57,000 | |||
Repayment of note payable | ||||||
0 | 234 | 0 | - | |||
Payments of debt issuance costs | ||||||
0 | 0 | 469 | 481 | |||
Payments on capital leases | ||||||
0 | 0 | 14 | 81 | |||
Net increase in customer fund obligations | ||||||
11,506 | -118 | 2,301 | 5,816 | |||
Net cash provided by financing activities | ||||||
354,410 | 151,421 | 13,695 | 61,000 | |||
Foreign currency effect on cash and cash equivalents | ||||||
-33 | 255 | -53 | -57 | |||
Net change in cash and cash equivalents | ||||||
324,628 | 128,247 | -6,155 | 9,553 | |||
Supplemental cash flow disclosures: | ||||||
Cash paid for interest expense | ||||||
122 | 2,495 | 2,112 | 2,044 | |||
Cash paid for operating lease liabilities | ||||||
9,784 | 0 | 0 | - | |||
Cash paid for income taxes | ||||||
1,121 | 390 | 354 | 259 | |||
Non-cash investing and financing activities: | ||||||
Accrued purchase price related to acquisitions | ||||||
4,902 | 0 | 0 | - | |||
Stock issued for acquisitions | ||||||
- | - | - | 3,764 | |||
Property and equipment purchased under tenant improvement allowance | ||||||
0 | 1,062 | 250 | 181 | |||
Property and equipment additions in accounts payable and accrued expenses | ||||||
768 | 729 | 2,201 | 164 | |||
Deferred financing costs in accounts payable and accrued expenses | ||||||
0 | 100 | 335 | - | |||
Fair value of common stock issued to purchase intangible assets | ||||||
98 | 2,555 | 0 | - | |||
Cashless exercises of options and warrants | ||||||
5 | 9,224 | 1,670 | 1,994 | |||
Cashless redemptions of options and warrants | ||||||
98 | 11,589 | 2,481 | 1,989 | |||
Operating lease right-of-use assets in exchange for lease obligations | ||||||
15,861 | 0 | 0 | - | |||