| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net loss | ||||||
-16,659 | -19,907 | -4,123 | -16,233 | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Provision for transaction losses | ||||||
3,118 | 5,110 | 4,250 | 5,550 | |||
Depreciation and amortization | ||||||
6,661 | 4,949 | 4,186 | 8,462 | |||
Amortization of debt issuance costs | ||||||
52 | 77 | 49 | 0 | |||
Amortization of discount on purchases of marketable securities | ||||||
1,158 | 0 | 0 | - | |||
Amortization of operating lease asset | ||||||
3,945 | - | - | - | |||
Change in fair value of redeemable convertible preferred stock warrant liability | ||||||
0 | 6,056 | 118 | 114 | |||
Tides Foundation common stock warrant expense | ||||||
700 | 200 | 0 | 0 | |||
Stock-based compensation expense | ||||||
18,798 | 10,361 | 6,846 | 7,266 | |||
Loss on disposal of fixed assets | ||||||
-14 | -91 | -66 | -32 | |||
Changes in operating assets and liabilities: | ||||||
Trade and client receivables | ||||||
10,918 | -3,506 | 8,860 | 8,320 | |||
Prepaid expenses and other assets | ||||||
2,069 | 1,292 | 479 | 450 | |||
Operating lease liability | ||||||
-1,453 | - | - | - | |||
Accounts payable | ||||||
-1,457 | 1,609 | 74 | -578 | |||
Accrued expenses and other liabilities | ||||||
-2,957 | 2,849 | -6,148 | 7,057 | |||
Deferred revenue | ||||||
-4,430 | -109 | -20 | -248 | |||
Net cash used in operating activities | ||||||
1,058 | 13,744 | -4,001 | 3,148 | |||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||
Purchases of marketable securities | ||||||
168,786 | 0 | 0 | - | |||
Proceeds from maturities of marketable securities | ||||||
84,500 | 0 | 0 | - | |||
Increase in restricted cash | ||||||
- | - | - | -371 | |||
Purchases of property and equipment | ||||||
10,752 | 3,002 | 1,830 | 846 | |||
Internal-use software and platform development costs | ||||||
5,886 | 3,839 | 489 | 0 | |||
Net cash provided by (used in) investing activities | ||||||
-100,924 | -6,841 | -2,319 | -475 | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||
Changes in funds held in escrow, including funds in transit | ||||||
- | - | - | -4,725 | |||
Changes in escrow funds payable | ||||||
10,535 | 10,991 | 27,362 | -4,725 | |||
Proceeds from exercises of stock options | ||||||
18,155 | 8,160 | 2,547 | 270 | |||
Proceeds from exercise of redeemable convertible preferred stock warrant | ||||||
0 | 0 | 260 | 0 | |||
Repurchase of redeemable convertible preferred stock | ||||||
0 | 0 | 19,208 | 0 | |||
Taxes paid related to net share settlement of restricted stock units | ||||||
0 | 247 | 0 | 0 | |||
Proceeds from borrowings on debt | ||||||
50,000 | 15,000 | 34,000 | 17,000 | |||
Payment of debt issuance costs | ||||||
0 | 0 | 177 | 38 | |||
Repayment of debt | ||||||
55,679 | 25,000 | 17,000 | 12,000 | |||
Proceeds from employee stock purchase plan | ||||||
6,391 | 0 | 0 | - | |||
Proceeds from the initial public offering, net of discounts and commissions | ||||||
0 | 109,381 | 0 | 0 | |||
Payments of costs related to the initial public offering | ||||||
0 | 6,220 | 41 | 0 | |||
Net cash provided by financing activities | ||||||
29,402 | 112,065 | 27,743 | 5,232 | |||
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | ||||||
-70,464 | 118,968 | 21,423 | 7,905 | |||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||
Cash paid for income taxes | ||||||
42 | 13 | 55 | 0 | |||
Cash paid for interest | ||||||
1,291 | 1,976 | 847 | 1,330 | |||
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING ACTIVITIES: | ||||||
Property and equipment purchased but not yet paid | ||||||
161 | 2,815 | 114 | 0 | |||
Internal-use software and platform development costs incurred but not yet paid | ||||||
684 | 130 | 0 | - | |||
Reclassification of redeemable convertible preferred stock warrant liability to redeemable convertible preferred stock | ||||||
0 | 0 | 144 | 0 | |||
Conversion of redeemable convertible preferred stock warrant in connection with the initial public offering | ||||||
0 | 7,160 | 0 | 0 | |||
Conversion of redeemable convertible preferred stock in connection with the initial public offering | ||||||
0 | 166,486 | 0 | 0 | |||
Unpaid deferred offering costs | ||||||
0 | 0 | 25 | 0 | |||