Zendesk, inc. (ZEN)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Cash flows from operating activities
Net loss

-169,653

-131,084

-102,141

-97,620

-84,052

-67,415

-22,571

-24,365

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization

38,602

36,520

31,931

27,506

19,744

11,456

5,222

2,506

Share-based compensation

156,730

119,483

84,553

73,429

52,556

32,139

4,854

9,640

Amortization of deferred costs

32,000

21,000

14,000

10,293

-

-

-

-

Amortization of debt discount and issuance costs

25,288

18,766

0

0

-

-

-

-

Income tax benefit related to convertible senior notes

0

-13,784

0

0

-

-

-

-

Excess tax benefit from share-based award activity

-

-

-

337

449

334

-

-

Other

740

2,848

603

3,106

1,457

337

179

123

Changes in operating assets and liabilities:
Accounts receivable

50,061

30,007

21,201

11,808

14,989

3,846

3,594

1,404

Prepaid expenses and other current assets

8,349

10,620

5,112

6,248

5,510

1,444

482

1,571

Deferred costs

49,922

40,898

22,762

15,277

-

-

-

-

Lease right-of-use assets

18,940

-

-

-

-

-

-

-

Other assets and liabilities

1,081

-6,635

5,765

3,887

3,204

-1,742

-303

383

Accounts payable

22,128

7,534

1,839

-3,486

2,017

947

2,409

704

Accrued liabilities

3,259

3,844

6,919

5,261

2,204

351

1,724

401

Accrued compensation and related benefits

11,282

15,026

7,399

6,055

1,706

5,767

2,043

1,583

Deferred revenue

78,110

73,053

51,531

37,573

33,853

22,390

13,918

7,670

Lease liabilities

18,868

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

89,261

78,620

42,228

24,560

5,333

2,090

4,005

-5,096

Purchases of property and equipment

39,140

35,323

16,396

20,647

22,989

21,665

7,116

3,582

Internal-use software development costs

7,841

7,005

7,521

6,310

4,705

8,013

4,661

3,505

Purchases of marketable securities

454,649

700,226

177,309

249,048

70,303

54,330

12,409

-

Proceeds from maturities of marketable securities

177,376

170,882

116,735

39,690

36,982

10,450

-

-

Proceeds from sales of marketable securities

328,921

71,359

31,090

53,951

32,152

4,004

-

-

Business combinations, net of cash acquired

70,919

79,363

16,470

0

43,858

-

-

-

Purchases of strategic investments

500

10,000

0

0

-

-

-

-

Net cash used in investing activities

-66,752

-589,676

-69,871

-182,364

-72,721

-71,297

-24,186

-7,119

Cash flows from financing activities
Proceeds from initial public offering, net of issuance costs

-

-

-

-

-

103,090

-

-

Decrease in restricted cash

-

-

-

-

-

-153

-

32

Proceeds from issuance of convertible senior notes, net of issuance costs paid of $13,561

0

561,439

0

0

190,094

0

-

-

Purchase of capped call related to convertible senior notes

0

63,940

0

0

-

-

-

-

Proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs

-

-

-

-

-

-

-

44,885

Proceeds from exercises of employee stock options

26,495

16,150

31,882

25,412

10,609

7,229

1,793

2,125

Proceeds from employee stock purchase plan

31,490

21,440

14,248

11,004

9,526

4,404

-

-

Taxes paid related to net share settlement of share-based awards

9,574

5,213

2,989

803

609

2,117

-

-

Principal payment on debt

-

-

-

-

-

20,748

-

-

Excess tax benefit from share-based award activity

-

-

-

337

449

334

-

-

Other

0

-813

0

-323

-

-

-

-

Principal payments on debt and capital lease obligations

-

-

-

-

6,962

364

337

305

Proceeds from issuance of debt

-

-

-

-

-

3,940

23,760

-

Net cash provided by financing activities

48,411

529,063

43,141

35,627

203,107

95,768

25,216

46,705

Effect of exchange rate changes on cash, cash equivalents and restricted cash

101

-19

328

-334

242

-21

2

-40

Net increase in cash, cash equivalents and restricted cash

71,021

17,988

15,826

-122,511

135,961

26,540

5,037

34,450

Supplemental cash flow data
Cash paid for interest

1,438

699

0

148

-

-

-

-

Cash paid for taxes

5,381

2,524

1,766

1,530

-

-

-

-

Cash paid for income taxes and interest

-

-

-

-

793

1,056

171

71

Non-cash investing and financing activities
Balance of property and equipment in accounts payable and accrued expenses

9,139

5,582

1,837

3,610

3,179

484

251

-

Asset retirement obligations incurred

1,809

0

0

-

-

-

-

-

Property and equipment acquired through tenant improvement allowances

414

5,640

647

237

174

3,932

-

-

Issuance of warrant in connection with credit facility

-

-

-

-

-

-

-

182

Property and equipment acquired under capital leases

-

-

-

-

-

-

-

123

Share-based compensation capitalized in deferred costs

1,417

866

497

350

-

-

-

-

Deemed dividends on common stock

-

-

-

-

-

-

-

8,326

Issuance of common stock for the acquisition of Zopim

-

-

-

-

-

10,892

-

-

Vesting of early exercised stock options

0

0

411

628

1,048

1,512

860

62

Internal-Use Software Development Costs
Share-based compensation capitalized in deferred costs and in internal-use software development costs

2,176

2,414

2,704

2,365

2,085

2,476

143

85