| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'16 | Sep'16 | Jun'16 | Mar'16 | Dec'15 | Sep'15 | Jun'15 | Mar'15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||||||||||||
Net loss | ||||||||||||||||||||
-105,891 | 390,940 | 29,397 | -6,740 | -38,151 | -28,204 | 19,643 | -5,906 | -23,986 | -15,663 | -16,098 | -15,962 | -15,090 | -15,167 | -32,323 | -27,345 | -96,755 | -48,289 | -53,930 | -29,620 | -47,978 |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||||||||||||||
Depreciation and amortization | ||||||||||||||||||||
20,061 | 18,719 | 19,125 | 18,783 | 18,971 | 22,638 | 15,835 | 12,328 | 10,160 | 9,632 | 9,085 | 9,125 | 9,437 | 9,928 | 9,681 | 9,018 | 9,118 | 9,100 | 6,570 | 6,410 | 5,546 |
Non-cash interest and other | ||||||||||||||||||||
12,411 | 9,061 | 8,684 | 8,578 | 8,224 | 7,703 | 11,699 | 7,008 | 4,847 | 4,452 | 4,289 | 4,146 | 1,534 | 39 | -219 | 131 | 0 | - | - | - | - |
Loss on extinguishment of long-term debt | ||||||||||||||||||||
-990 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Share-based compensation | ||||||||||||||||||||
77,303 | 79,883 | 77,426 | 79,466 | 61,088 | 59,025 | 58,913 | 52,119 | 46,824 | 44,525 | 40,048 | 39,593 | 31,670 | 33,887 | 36,779 | 36,922 | 31,198 | - | - | 15,232 | 13,461 |
Loss on revaluation of equity investment | ||||||||||||||||||||
0 | 4,174 | 2,400 | -4,813 | -14,087 | -16,566 | 36,908 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Non-cash lease expense | ||||||||||||||||||||
15,125 | - | - | - | 6,690 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Recovery of common stock in connection with indemnification settlement agreement | ||||||||||||||||||||
0 | 280 | 0 | 0 | 789 | 0 | 0 | 2,745 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Transaction and loan losses | ||||||||||||||||||||
108,883 | - | - | - | 27,841 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Loss Contingency Accrual, Provision | ||||||||||||||||||||
- | - | - | - | - | - | 23,596 | 21,976 | 18,031 | - | 19,893 | 18,401 | 11,891 | 13,034 | 12,885 | 18,134 | 7,182 | 21,042 | 11,401 | 7,809 | 13,757 |
Provision for uncollectible receivables related to merchant cash advances | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,468 | 644 | 2,504 |
Change in deferred income taxes | ||||||||||||||||||||
-984 | -322 | 1,175 | -1,475 | -754 | -83 | 125 | -34 | -654 | -1,518 | 34 | 0 | 99 | 162 | -167 | -15 | 78 | 233 | 0 | 0 | -207 |
Gain on sale of property and equipment | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 38 | - | 0 | 0 | -240 |
Changes in operating assets and liabilities: | ||||||||||||||||||||
Settlements receivable | ||||||||||||||||||||
-60,248 | 32,677 | -932,782 | 120,904 | 1,027,472 | -825,564 | 387,782 | 110,535 | 81,452 | 34,596 | 280,169 | 45,652 | -54,586 | 85,455 | 28,021 | 17,683 | 46,503 | -8,919 | -15,597 | 22,296 | 34,030 |
Customer funds | ||||||||||||||||||||
210,201 | 1,490 | 77,676 | 15,603 | 109,439 | -25,158 | 50,349 | 56,194 | 49,619 | 17,569 | 11,877 | 16,069 | 13,953 | 15,128 | 22,233 | -1,471 | -1,762 | - | - | - | - |
Purchase of loans held for sale | ||||||||||||||||||||
573,502 | 670,344 | 560,894 | 527,745 | 507,755 | 470,469 | 404,891 | 389,275 | 344,976 | 310,132 | 303,679 | 318,649 | 252,170 | 247,733 | 208,516 | 184,900 | 27,827 | - | - | - | - |
Sales and principal payments of loans held for sale | ||||||||||||||||||||
-555,584 | -621,524 | -571,335 | -508,305 | -467,518 | -449,456 | -413,428 | -379,858 | -337,092 | -293,127 | -291,978 | -317,778 | -242,431 | -234,406 | -209,473 | -166,194 | -17,554 | - | - | - | - |
Merchant cash advance receivable | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 12,580 | 2,250 | 3,895 |
Other current assets | ||||||||||||||||||||
- | - | - | - | - | - | - | - | 13,444 | - | 4,061 | 8,306 | -6,105 | 8,569 | -16,700 | -29,188 | 21,203 | 21,384 | -278 | 7,945 | -3,210 |
Other non-current assets | ||||||||||||||||||||
- | - | - | - | - | - | - | - | 1,256 | - | 1,589 | 251 | -141 | -486 | -522 | 732 | -355 | -118 | 75 | -356 | -821 |
Accounts payable | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | 1,080 | 1,602 | -1,459 | - | -3,405 | -38 | 2,576 | 5,783 | -1,360 | -1,275 | 4,683 |
Customers payable | ||||||||||||||||||||
212,929 | 4,672 | -533,744 | 140,118 | 912,749 | -565,933 | 313,784 | 119,769 | 147,977 | 6,372 | 261,257 | 45,281 | -11,132 | 67,469 | 54,279 | 24,388 | 60,438 | - | - | - | - |
Settlements payable | ||||||||||||||||||||
-6,684 | 14,237 | -209,055 | 24,531 | 211,984 | -149,137 | 62,658 | 23,714 | 2,114 | 33,374 | 39,580 | 6,061 | -15,378 | 23,636 | 24,989 | -13,782 | 3,203 | - | - | - | - |
Customer funds obligation | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -1,762 | - | 22,160 | 28,655 | 38,631 |
Charge-offs to accrued transaction losses | ||||||||||||||||||||
17,413 | 21,839 | 20,436 | 18,607 | 17,443 | 17,838 | 14,324 | 13,188 | 12,842 | 13,067 | 10,838 | 11,065 | 11,178 | 15,308 | 8,148 | 15,536 | 8,939 | 9,240 | 11,241 | 8,776 | 5,398 |
Other assets and liabilities | ||||||||||||||||||||
27,563 | 13,260 | 37,228 | 2,085 | -5,095 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Accrued expenses | ||||||||||||||||||||
- | - | - | - | - | - | - | - | 2,703 | - | 3,328 | 13,070 | 3,930 | -495 | 13,870 | -69,594 | 55,810 | 7,500 | 10,116 | 9,277 | -5,443 |
Other current liabilities | ||||||||||||||||||||
- | - | - | - | - | - | - | - | 5,155 | - | -5,452 | 4,695 | -368 | 3,064 | -23,180 | 22,661 | 1,364 | 5,131 | 1,534 | 1,713 | -1,723 |
Other non-current liabilities | ||||||||||||||||||||
- | - | - | - | - | - | - | - | 5,379 | - | 2,918 | 2,794 | 2,902 | 773 | 2,807 | 929 | -1,360 | 2,310 | 1,413 | 2,517 | 4,871 |
Net cash provided by operating activities | ||||||||||||||||||||
121,296 | 61,116 | 238,747 | 133,392 | 32,444 | 176,420 | 47,628 | 18,979 | 52,053 | -2,606 | 39,727 | 46,592 | 43,998 | -104 | 55,773 | -18,789 | -13,749 | 17,993 | 13,629 | 451 | -10,950 |
Cash flows from investing activities: | ||||||||||||||||||||
Purchase of marketable debt securities | ||||||||||||||||||||
363,874 | 233,614 | 404,061 | 161,235 | 193,673 | 141,286 | 694,036 | 114,803 | 50,221 | 59,426 | 171,429 | 132,204 | 181,851 | 25,663 | 36,858 | 29,159 | 73,086 | 0 | 0 | 0 | 0 |
Proceeds from maturities of marketable debt securities | ||||||||||||||||||||
98,146 | 105,206 | 105,453 | 108,724 | 111,505 | 68,851 | 49,330 | 33,823 | 45,450 | 62,145 | 54,015 | 36,495 | 15,569 | 16,932 | 9,500 | 16,768 | 0 | - | - | - | - |
Proceeds from sale of marketable debt securities | ||||||||||||||||||||
247,027 | 221,372 | 210,725 | 71,712 | 44,810 | 65,634 | 50,099 | 56,259 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Purchase of marketable debt securities from customer funds | ||||||||||||||||||||
144,494 | 73,859 | 149,576 | 53,451 | 34,613 | 148,096 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from maturities of marketable debt securities from customer funds | ||||||||||||||||||||
65,000 | 42,855 | 52,200 | 30,000 | 33,000 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from sale of marketable debt securities from customer funds | ||||||||||||||||||||
22,457 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from sale of marketable debt securities from customer funds | ||||||||||||||||||||
22,457 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from sale of marketable securities | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 17,734 | 3,996 | - | 15,998 | 4,964 | 0 | - | - | - | - |
Purchase of property and equipment | ||||||||||||||||||||
26,137 | 16,672 | 15,664 | 11,994 | 18,168 | 24,030 | 14,030 | 15,060 | 8,083 | 6,472 | 5,742 | 7,375 | 6,508 | 5,759 | 3,834 | 8,313 | 7,527 | 6,708 | 9,964 | 10,341 | 10,419 |
Payments for other investments | ||||||||||||||||||||
0 | 13,250 | 0 | 0 | 2,000 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Purchase of intangible assets | ||||||||||||||||||||
- | - | - | - | - | 0 | 0 | 0 | 1,584 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 400 | 1,176 | 0 | 10 | 100 |
Increases in restricted cash | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 252 | 0 | 0 |
Business combinations, net of cash acquired | ||||||||||||||||||||
12,742 | 0 | 0 | 9,124 | 11,248 | 0 | 571 | 110,773 | 1,055 | 315 | 0 | 0 | 1,600 | 1,360 | 0 | 0 | 0 | 0 | 750 | 0 | 3,750 |
Net cash used in investing activities | ||||||||||||||||||||
-114,617 | 391,871 | -200,923 | -25,368 | -70,387 | -130,593 | -609,208 | -150,554 | -15,493 | 19,898 | -104,765 | -85,350 | -170,394 | -2,294 | -15,194 | -15,740 | -81,013 | -7,632 | -10,966 | -10,351 | -14,269 |
Cash flows from financing activities: | ||||||||||||||||||||
Proceeds from issuance of convertible senior notes, net | ||||||||||||||||||||
986,241 | 0 | 0 | 0 | 0 | - | - | - | - | 0 | 0 | 0 | 428,250 | 0 | 0 | 0 | 0 | - | - | - | - |
Purchase of convertible senior note hedges | ||||||||||||||||||||
149,200 | 0 | 0 | 0 | 0 | - | - | - | - | 0 | 0 | 0 | 92,136 | 0 | 0 | 0 | 0 | - | - | - | - |
Proceeds from issuance of warrants | ||||||||||||||||||||
99,500 | 0 | 0 | 0 | 0 | - | - | - | - | 0 | 0 | 0 | 57,244 | 0 | 0 | 0 | 0 | - | - | - | - |
Payment of deferred purchase consideration | ||||||||||||||||||||
- | - | - | - | - | - | - | 640 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Principal payments on finance lease obligation | ||||||||||||||||||||
- | - | - | - | - | - | - | 710 | 665 | - | 386 | 387 | 247 | 168 | 0 | 0 | 0 | - | - | - | - |
Payment for termination of Starbucks warrant | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 54,808 | 0 | 0 | 0 | 0 | - | - | - | - |
Payments of offering costs related to initial public offering | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 124 | 5,406 | 0 | 0 | 0 | 0 |
Payments for tax withholding related to vesting of restricted stock units | ||||||||||||||||||||
48,772 | 48,220 | 57,381 | 55,862 | 50,801 | 63,225 | 57,324 | 40,924 | 27,651 | 26,384 | 18,298 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from the exercise of stock options, net | ||||||||||||||||||||
31,406 | - | 14,860 | 41,593 | 25,328 | - | 27,581 | 35,845 | 31,354 | - | 22,026 | 50,583 | 39,280 | - | 32,808 | 14,940 | 556 | - | 3,576 | 6,884 | 1,749 |
Other financing activities | ||||||||||||||||||||
-1,055 | - | - | - | -1,379 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||||||||||||||
918,120 | -12,665 | -43,804 | -15,553 | -26,852 | -174,983 | -101,073 | 788,773 | 3,038 | 23,812 | 3,342 | 50,196 | 377,583 | 47,967 | 32,808 | 14,816 | -4,850 | 282,554 | -26,424 | 6,884 | 1,749 |
Effect of foreign exchange rate on cash and cash equivalents | ||||||||||||||||||||
-13,588 | 4,514 | -3,013 | 1,063 | 1,277 | -3,067 | -649 | -4,902 | 1,397 | 467 | 1,505 | 1,273 | 1,058 | -2,974 | -136 | 1,114 | 1,558 | -805 | -96 | -14 | -860 |
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||||||||||||||||
911,211 | 444,836 | -8,993 | 93,534 | -63,518 | -132,223 | -663,302 | 652,296 | 40,995 | 41,571 | -60,191 | 12,711 | 252,245 | 42,595 | 73,251 | -18,599 | -98,054 | 292,110 | -23,857 | -3,030 | -24,330 |