| Aug'19 | Jul'18 | Jul'17 | Jul'16 | |||
|---|---|---|---|---|---|---|
Net income (loss) | ||||||
36,881 | 44,900 | -594 | 33,181 | |||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
Deferred income taxes | ||||||
-8,203 | 6,588 | -6,728 | -5,869 | |||
Fair Value Adjustment of Warrants | ||||||
0 | -10,685 | 18,881 | 3,019 | |||
Inventory reserves | ||||||
7,974 | 1,916 | 3,591 | 5,941 | |||
Compensation expense related to certain stock sales by current and former employees | ||||||
0 | 0 | 9,699 | 4,810 | |||
Stock-based compensation expense | ||||||
35,256 | 15,403 | 3,545 | 1,850 | |||
Excess tax benefit related to stock-based compensation expense | ||||||
0 | 0 | 62 | 63 | |||
Depreciation, amortization, and accretion | ||||||
14,331 | 10,542 | 7,655 | 3,544 | |||
Other | ||||||
-148 | -155 | 0 | 0 | |||
Change in operating assets and liabilities: | ||||||
Inventory | ||||||
41,233 | 19,416 | 26,375 | 26,509 | |||
Prepaid expenses and other assets | ||||||
16,831 | 17,307 | 7,596 | 9,504 | |||
Accounts payable | ||||||
10,774 | 35,502 | 7,841 | 10,192 | |||
Accrued liabilities | ||||||
22,856 | -3,595 | 17,748 | 10,904 | |||
Deferred revenue | ||||||
3,325 | 1,720 | 2,719 | 1,574 | |||
Gift card liability | ||||||
825 | 1,624 | 1,993 | 1,530 | |||
Other liabilities | ||||||
12,491 | 4,831 | 6,307 | 10,516 | |||
Net cash provided by operating activities | ||||||
78,594 | 72,178 | 38,624 | 45,116 | |||
Purchases of property and equipment | ||||||
30,825 | 16,565 | 17,130 | 15,238 | |||
Purchases of securities available-for-sale | ||||||
285,205 | 0 | 0 | - | |||
Sales of securities available-for-sale | ||||||
10,596 | 0 | 0 | - | |||
Maturities of securities available-for-sale | ||||||
80,250 | 0 | 0 | - | |||
Net cash used in investing activities | ||||||
-225,184 | -16,565 | -17,130 | -15,238 | |||
Proceeds from initial public offering, net of underwriting discounts paid | ||||||
0 | 129,046 | 0 | 0 | |||
Proceeds from the exercise of stock options, net | ||||||
13,693 | 6,384 | 2,346 | 436 | |||
Payments for tax withholding related to vesting of restricted stock units | ||||||
6,748 | 596 | 0 | - | |||
Excess tax benefit related to stock-based compensation expense | ||||||
0 | 0 | 62 | 63 | |||
Repurchase of Class B common stock related to early exercised options | ||||||
0 | 39 | 3,557 | 0 | |||
Payment of deferred offering costs | ||||||
0 | 0 | 1,879 | 0 | |||
Net cash provided by (used in) financing activities | ||||||
6,945 | 134,795 | -3,028 | 499 | |||
Net increase (decrease) in cash, cash equivalents, and restricted cash | ||||||
-139,645 | 190,408 | 18,466 | 30,377 | |||
Effect of exchange rate changes on cash | ||||||
211 | 0 | 0 | - | |||
Supplemental Disclosure | ||||||
Cash paid for income taxes | ||||||
966 | 10,071 | 28,023 | 39,387 | |||
Supplemental Disclosure of Non-Cash Investing and Financing Activities: | ||||||
Purchases of property and equipment included in accounts payable and accrued liabilities | ||||||
5,272 | 795 | 111 | 2,177 | |||
Capitalized stock-based compensation | ||||||
1,789 | 883 | 164 | 58 | |||
Vesting of early exercised options | ||||||
209 | 988 | 891 | 1,095 | |||
Leasehold improvements paid by landlord | ||||||
- | - | - | 249 | |||
Conversion of preferred stock upon initial public offering | ||||||
0 | 42,222 | 0 | 0 | |||
Reclassification of preferred stock warrant liability upon initial public offering | ||||||
0 | 15,994 | 0 | 0 | |||
Deferred offering costs included in accrued liabilities | ||||||
0 | 0 | 508 | 0 | |||
Deferred offering costs paid in prior year | ||||||
0 | 1,879 | 0 | 0 | |||