| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net loss | ||||||
-68,760 | -64,078 | -38,547 | -40,392 | |||
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||
Depreciation and amortization | ||||||
24,324 | 34,608 | 19,418 | 7,639 | |||
Amortization of creator signing fees | ||||||
10,858 | 7,086 | 4,300 | 2,737 | |||
Noncash operating lease expense | ||||||
8,246 | - | - | - | |||
Accretion of term loan | ||||||
326 | 1,718 | 752 | 0 | |||
Loss on debt extinguishment | ||||||
-1,742 | -200 | 0 | 0 | |||
Change in fair value of redeemable convertible preferred stock warrant liability | ||||||
0 | 9,600 | 2,200 | 0 | |||
Change in fair value of term loan embedded derivatives | ||||||
0 | 2,119 | 0 | 0 | |||
Stock-based compensation | ||||||
37,594 | 30,231 | 10,858 | 8,531 | |||
Impairment charges | ||||||
5,671 | 3,425 | 2,715 | 1,795 | |||
Provision for bad debt and creator advances | ||||||
2,433 | 2,742 | 921 | 910 | |||
Loss on disposal of equipment | ||||||
-73 | -99 | -1,271 | -20 | |||
Deferred income taxes | ||||||
-380 | 103 | -400 | -58 | |||
Excess tax benefit from stock-based compensation awards | ||||||
0 | 0 | 2,258 | 0 | |||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
288 | 2,092 | 775 | 1,364 | |||
Funds receivable | ||||||
-3,801 | 6,810 | 18,148 | 9,862 | |||
Creator signing fees, net | ||||||
21,216 | 15,973 | 8,600 | 5,980 | |||
Creator advances, net | ||||||
5,685 | 5,308 | 5,782 | 4,636 | |||
Prepaid expenses and other current assets | ||||||
-1,690 | 5,594 | 4,347 | 1,890 | |||
Other assets | ||||||
-201 | 1,643 | -668 | 307 | |||
Accounts payable, creators | ||||||
36,170 | 24,523 | 52,836 | 37,109 | |||
Accounts payable, trade | ||||||
670 | -507 | 386 | 245 | |||
Accrued compensation and benefits | ||||||
761 | 1,791 | -333 | 1 | |||
Accrued taxes | ||||||
-2,619 | 5,039 | 3,640 | -1,253 | |||
Operating lease liabilities | ||||||
9,146 | - | - | - | |||
Other accrued liabilities | ||||||
2,224 | 4,256 | 693 | 3,939 | |||
Accrued taxes, noncurrent | ||||||
-137 | -14,458 | 7,027 | 4,957 | |||
Other liabilities | ||||||
105 | 354 | 1,312 | 644 | |||
Net cash provided by (used in) operating activities | ||||||
28,658 | 7,162 | 29,821 | 2,785 | |||
Cash flows from investing activities | ||||||
Purchases of property and equipment | ||||||
5,888 | 5,418 | 2,536 | 2,983 | |||
Capitalized internal-use software development costs | ||||||
7,710 | 7,232 | 6,142 | 5,483 | |||
Acquisitions, net of cash acquired | ||||||
0 | -12,611 | 131,974 | 1,693 | |||
Net cash used in investing activities | ||||||
-13,598 | -39 | -140,652 | -10,159 | |||
Cash flows from financing activities | ||||||
Proceeds from initial public offering, net of underwriters' discounts and offering costs, net of reimbursements | ||||||
0 | 240,965 | 0 | 0 | |||
Proceeds from issuance of common stock under ESPP | ||||||
3,631 | 0 | 0 | - | |||
Proceeds from exercise of stock options | ||||||
40,669 | 8,108 | 1,767 | 2,903 | |||
Excess tax benefit from stock-based compensation awards | ||||||
0 | 0 | 2,258 | 0 | |||
Taxes paid related to net share settlement of equity awards | ||||||
1,066 | 9,013 | 0 | 0 | |||
Proceeds from issuance of redeemable convertible preferred stock, net | ||||||
0 | 0 | 133,936 | 0 | |||
Proceeds from term loans | ||||||
0 | 118,578 | 30,000 | 0 | |||
Principal payments on debt obligations | ||||||
73,594 | 111,071 | 7,788 | 0 | |||
Prepayment penalties on debt extinguishment | ||||||
0 | 6,803 | 0 | 0 | |||
Payment of debt issuance costs | ||||||
457 | 0 | 0 | - | |||
Payments of finance lease obligations | ||||||
300 | - | - | - | |||
Payments on finance lease obligations | ||||||
- | 78 | 249 | 358 | |||
Payments on build-to-suit lease financing obligation | ||||||
0 | 630 | 410 | 220 | |||
Payments of deferred offering costs | ||||||
413 | 0 | 0 | - | |||
Net cash provided by financing activities | ||||||
-31,520 | 240,056 | 159,514 | 2,325 | |||
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||
-16,460 | 247,179 | 48,683 | -5,049 | |||
Supplemental cash flow data | ||||||
Interest paid | ||||||
10,657 | 7,588 | 868 | 0 | |||
Income taxes paid, net of refunds | ||||||
1,096 | 202 | 144 | 78 | |||
Noncash investing and financing activities | ||||||
Vesting of early exercised stock options | ||||||
367 | 366 | 366 | 305 | |||
Issued shares of common stock for acquisitions | ||||||
0 | 8,832 | 18,243 | 478 | |||
Promissory notes issued in connection with acquisitions | ||||||
0 | 0 | 57,500 | 0 | |||
Conversion of redeemable convertible preferred stock in connection with initial public offering | ||||||
0 | 21,465 | 0 | 0 | |||
Issuance of redeemable convertible preferred stock warrants in connection with the loan facilities and term loan | ||||||
0 | 4,603 | 5,071 | 0 | |||
Deferred offering costs included in accounts payable, trade and other accrued liabilities | ||||||
0 | 430 | 0 | 0 | |||
Purchases of property and equipment, accrued but unpaid | ||||||
436 | 0 | 0 | - | |||
Operating lease right-of-use assets obtained in exchange for operating lease liabilities | ||||||
3,704 | - | - | - | |||