| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net loss | ||||||
-307,063 | -121,949 | -63,708 | -41,324 | -35,504 | -26,758 | -26,854 |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||
Depreciation and amortization | ||||||
110,430 | 26,095 | 18,764 | 8,315 | 4,226 | 1,756 | 610 |
Non-cash reduction to the right-of-use asset | ||||||
23,193 | 0 | 0 | - | - | - | - |
Amortization of debt discount and issuance costs | ||||||
23,696 | 14,053 | 0 | - | - | - | - |
Net amortization of investment premium and discount | ||||||
4,501 | 1,496 | -262 | - | - | - | - |
Stock-based compensation | ||||||
264,318 | 93,273 | 49,619 | 24,225 | 8,877 | 3,978 | 2,157 |
Provision for doubtful accounts | ||||||
- | - | - | 1,145 | 705 | 261 | 213 |
Tax benefit related to release of valuation allowance | ||||||
55,745 | 0 | 0 | - | - | - | - |
Other adjustments | ||||||
7,676 | 12,824 | 2,018 | - | - | - | - |
Write-off of internally developed software and intangible assets | ||||||
- | - | - | 711 | 113 | 0 | 0 |
Tax benefit related to acquisition | ||||||
- | - | - | - | 108 | - | - |
(Gain) loss on lease termination and asset disposals | ||||||
- | - | - | -94 | - | - | - |
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
51,357 | 58,234 | 15,280 | 8,254 | 10,506 | 4,300 | 3,239 |
Prepaid expenses and other current assets | ||||||
20,316 | 8,739 | -2,214 | 13,755 | 2,128 | 2,857 | 491 |
Other long-term assets | ||||||
18,021 | 5,305 | 1,984 | 129 | 162 | -283 | 374 |
Accounts payable | ||||||
17,255 | 6,980 | 5,433 | 1,714 | 658 | 1,227 | -1,401 |
Accrued expenses and other current liabilities | ||||||
46,154 | 45,120 | -3,312 | 24,182 | 13,202 | 7,332 | 5,405 |
Deferred revenue and customer deposits | ||||||
2,968 | 5,958 | 3,560 | 4,076 | 1,974 | 1,632 | 1,014 |
Operating right of use liability | ||||||
-21,138 | 0 | 0 | - | - | - | - |
Long-term liabilities | ||||||
-3,501 | -597 | -841 | 9,097 | -109 | 86 | 338 |
Net cash provided by (used in) operating activities | ||||||
14,048 | 7,983 | -3,255 | 10,097 | -18,762 | -17,360 | -22,622 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||
Purchases of intangible assets | ||||||
- | - | - | 785 | 494 | 527 | - |
Acquisitions, net of cash acquired, and other related payments | ||||||
-122,749 | 30,574 | 22,621 | 8,500 | 1,761 | - | - |
Purchases of marketable securities and other investments | ||||||
2,038,422 | 279,687 | 293,186 | - | - | - | - |
(Increase) decrease in restricted cash | ||||||
- | - | - | - | - | 170 | - |
Proceeds from sales and maturities of marketable securities | ||||||
697,171 | 195,497 | 115,877 | - | - | - | - |
Proceeds from sale of investments | ||||||
- | - | - | - | - | - | 3,000 |
Capitalized software development costs | ||||||
21,922 | 19,546 | 17,280 | 11,527 | 8,409 | 3,604 | 2,291 |
Purchases of long-lived assets | ||||||
45,368 | 5,109 | 9,538 | 14,174 | 1,715 | 1,039 | 1,161 |
Net cash provided by (used in) investing activities | ||||||
-1,285,792 | -139,419 | -226,748 | -34,986 | -12,379 | -5,340 | -452 |
Proceeds from a public offering, net of underwriting discount | ||||||
980,000 | 0 | 0 | 160,426 | - | - | - |
Proceeds from Follow-On Public Offering, net of underwriting discounts | ||||||
- | - | - | 65,281 | - | - | - |
Payments of costs related to public offerings | ||||||
877 | 0 | 430 | 4,606 | 694 | - | - |
Proceeds from issuance of convertible senior notes | ||||||
0 | 550,000 | 0 | - | - | - | - |
Payment of debt issuance costs | ||||||
0 | 12,941 | 0 | - | - | - | - |
Purchase of capped call | ||||||
0 | 58,465 | 0 | - | - | - | - |
Principal payments on notes payable | ||||||
5,400 | 0 | 0 | - | - | - | - |
Principal payments on finance leases and notes payable | ||||||
5,646 | 0 | 0 | - | - | - | - |
Net proceeds from issuance of convertible preferred stock | ||||||
- | - | - | - | 125,448 | - | 69,930 |
Proceeds from exercises of nonvested options | ||||||
- | - | - | - | 277 | 26 | 414 |
Proceeds from exercises of stock options | ||||||
57,480 | 39,879 | 37,645 | 9,102 | 3,128 | 590 | 337 |
Value of equity awards withheld for tax liabilities | ||||||
5,412 | 2,654 | 678 | 1,037 | - | - | - |
Repurchases of common stock | ||||||
0 | 0 | 100 | 2 | 20,810 | 4 | 5,069 |
Net cash provided by financing activities | ||||||
1,020,145 | 515,819 | 36,437 | 229,164 | 107,349 | 612 | 65,612 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||
0 | 163 | 74 | - | - | - | - |
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | ||||||
-251,599 | 384,546 | -193,492 | 204,275 | 76,208 | -22,088 | 42,538 |
Cash paid for income taxes, net | ||||||
1,368 | 564 | 605 | 225 | 46 | 13 | 1 |
Cash paid for interest | ||||||
2,290 | 741 | 0 | - | - | - | - |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||||
Purchases of property, equipment and intangible assets, accrued but not paid | ||||||
- | - | - | 4,201 | 97 | 25 | 158 |
Purchases of property and equipment through finance leases | ||||||
5,848 | 2,478 | 0 | - | - | - | - |
Acquisition holdback | ||||||
7,980 | 2,290 | 0 | - | - | - | - |
Value of common stock issued and stock awards assumed in acquisition | ||||||
2,841,452 | 0 | 0 | - | - | - | - |
Vesting of early exercised options | ||||||
- | - | - | - | 201 | 191 | 166 |
Stock-based compensation capitalized in software development costs | ||||||
7,800 | 5,700 | 4,200 | 1,953 | 979 | 293 | 143 |
Series T convertible preferred stock issued as part of purchase price in the Authy acquisition | ||||||
- | - | - | - | 3,087 | - | - |
Costs related to public offerings, accrued but not paid | ||||||
- | - | - | 430 | 1,265 | - | - |