| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net loss | ||||||||
-55,143 | -50,214 | -53,202 | -64,951 | -70,655 | -75,550 | 0 | 0 | 0 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Stock-based compensation | ||||||||
37,520 | 34,349 | 30,416 | 24,831 | 18,971 | 15,921 | 0 | 0 | 0 |
Depreciation and amortization | ||||||||
16,217 | 15,807 | 15,096 | 14,478 | 13,493 | 12,802 | 0 | 0 | 0 |
Deferred tax expense | ||||||||
-200 | -223 | -46 | -249 | -237 | -1,294 | 0 | 0 | 0 |
Amortization of deferred rent | ||||||||
- | - | - | - | - | 190 | 0 | 0 | 0 |
Non-cash operating lease costs | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Non-cash change in earnout liabilities | ||||||||
-3,552 | -1,043 | 638 | 536 | -331 | -402 | 0 | 0 | 0 |
Non-cash bad debt expense | ||||||||
1,776 | 1,367 | 696 | 247 | -133 | -288 | 0 | 0 | 0 |
Other | ||||||||
474 | 340 | 260 | 513 | 437 | 559 | 0 | 0 | 0 |
Changes in operating assets and liabilities: | ||||||||
Trade accounts receivable | ||||||||
10,077 | 12,862 | 15,304 | 15,214 | 12,615 | 13,508 | 0 | 0 | 0 |
Prepaid expenses and other current assets | ||||||||
6,584 | 3,544 | 5,436 | 5,302 | 4,648 | 4,850 | 0 | 0 | 0 |
Accrued expenses and other current liabilities | ||||||||
- | - | - | - | - | - | - | - | 0 |
Deferred commissions | ||||||||
-16,133 | -19,149 | -16,340 | -11,552 | -5,266 | 0 | 0 | 0 | 0 |
Other noncurrent assets | ||||||||
1,413 | 1,265 | 1,090 | 1,574 | 1,154 | 808 | 0 | 0 | 0 |
Trade payables | ||||||||
5,852 | 5,783 | 3,752 | 297 | 907 | -4,419 | 0 | 0 | 0 |
Accrued expenses | ||||||||
8,051 | 16,246 | 0 | 0 | 0 | - | - | - | - |
Deferred revenue | ||||||||
32,655 | 37,558 | 41,226 | 40,436 | 39,806 | 42,422 | 0 | 0 | 0 |
Operating lease liabilities | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Net cash used in operating activities | ||||||||
8,538 | 22,386 | 12,467 | 7,793 | -108 | -3,062 | 0 | 0 | 0 |
Cash flows from investing activities: | ||||||||
Purchase of property and equipment | ||||||||
9,666 | 10,180 | 9,765 | 12,264 | 13,972 | 15,483 | 0 | 0 | 0 |
Cash paid for acquisitions of businesses | ||||||||
13,000 | 30,310 | 30,310 | 17,310 | 17,310 | 0 | 0 | 0 | 0 |
Cash paid for acquired intangible assets | ||||||||
8 | 139 | 139 | 252 | 5,133 | 5,002 | 0 | 0 | 0 |
Net increase in customer fund assets | ||||||||
8,197 | 11,506 | 5,921 | 7,175 | -11,421 | -118 | 0 | 0 | 0 |
Net cash used in investing activities | ||||||||
-30,871 | -52,135 | -46,135 | -37,001 | -24,994 | -20,367 | 0 | 0 | 0 |
Cash flows from financing activities: | ||||||||
Payments of deferred financing costs | ||||||||
516 | 555 | 555 | 1,860 | 2,123 | 2,084 | 0 | 0 | 0 |
Proceeds from exercise of stock options and common stock warrants | ||||||||
38,636 | 58,019 | 52,837 | 41,878 | 34,026 | 7,041 | 0 | 0 | 0 |
Proceeds from purchases of stock under employee stock purchase plan | ||||||||
10,345 | 12,293 | 12,293 | 7,664 | 7,664 | 0 | 0 | 0 | 0 |
Taxes paid related to net share settlement of stock-based awards | ||||||||
1,090 | 1,183 | 1,222 | 241 | 442 | 2,365 | 0 | 0 | 0 |
Repurchase of shares | ||||||||
- | - | - | - | - | 1,806 | 0 | 0 | 0 |
Payment related to business combination earnouts | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Proceeds from credit facility | ||||||||
- | - | - | - | - | 23,000 | 0 | 0 | 0 |
Net increase in customer fund obligations | ||||||||
8,278 | 11,506 | 5,921 | 7,094 | -11,502 | -118 | 0 | 0 | 0 |
Net cash provided by financing activities | ||||||||
326,158 | 354,410 | 342,081 | 297,717 | 159,389 | 151,421 | 0 | 0 | 0 |
Foreign currency effect on cash and cash equivalents | ||||||||
-168 | -33 | 57 | -33 | -31 | 255 | 0 | 0 | 0 |
Net change in cash and cash equivalents | ||||||||
303,657 | 324,628 | 308,470 | 268,476 | 134,256 | 128,247 | 0 | 0 | 0 |
Supplemental cash flow disclosures: | ||||||||
Cash paid for interest expense | ||||||||
59 | 122 | 250 | 830 | 1,788 | 2,495 | 0 | 0 | 0 |
Cash paid for operating lease liabilities | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Cash paid for income taxes | ||||||||
1,364 | 1,121 | 493 | 381 | 371 | 390 | 0 | 0 | 0 |
Non-cash investing and financing activities: | ||||||||
Stock issued related to business combinations | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Accrued purchase price related to acquisitions | ||||||||
1,918 | 4,902 | 4,902 | 2,984 | 2,984 | 0 | 0 | 0 | 0 |
Property and equipment purchased under tenant improvement allowance | ||||||||
- | - | - | - | - | 1,062 | 0 | 0 | 0 |
Property and equipment additions in accounts payable and accrued expenses | ||||||||
573 | 768 | 1,036 | -1,995 | -2,052 | 729 | 0 | 0 | 0 |
Deferred financing costs in accounts payable and accrued expenses | ||||||||
-272 | 0 | -198 | -1,271 | -130 | 100 | 0 | 0 | 0 |
Fair value of common stock issued to purchase intangible assets | ||||||||
0 | - | - | - | 0 | - | - | - | 0 |
Cashless exercises of options and warrants | ||||||||
- | - | - | - | - | 9,224 | 0 | 0 | 0 |
Cashless redemptions of options and warrants | ||||||||
- | - | - | - | - | 11,589 | 0 | 0 | 0 |
Operating lease right-of-use assets in exchange for lease obligations | ||||||||
0 | - | - | - | 0 | - | - | - | - |