ZENDESK, INC. ZEN Cash Flow

Zendesk, inc. (ZEN)

CashFlow / Quarterly

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	Dec'14	Sep'14	Jun'14	Mar'14
Cash flows from operating activities
Net loss
-42,783	-36,168	-34,224	-54,541	-44,720	-33,249	-34,144	-34,366	-29,325	-24,978	-25,815	-26,267	-25,081	-18,370	-25,825	-26,254	-27,171	-24,477	-18,925	-21,482	-19,168	-17,493	-17,919	-21,744	-10,259
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
11,240	10,810	10,091	8,969	8,732	9,327	8,530	8,798	9,865	7,668	8,131	8,209	7,923	7,506	6,853	6,621	6,526	6,072	4,868	4,581	4,223	3,783	3,169	2,696	1,808
Share-based compensation
42,082	37,672	38,650	43,751	36,657	32,902	31,446	28,147	26,988	22,128	22,376	20,945	19,104	17,092	19,996	18,646	17,695	15,499	13,443	13,385	10,229	8,514	10,818	10,983	1,824
Amortization of deferred costs
10,000	9,000	8,000	8,000	7,000	6,000	5,000	5,490	4,510	3,700	3,702	3,419	3,179	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount and issuance costs
6,549	6,457	6,366	6,277	6,188	6,101	6,015	5,930	720	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
2,061	-218	112	452	394	-17	566	2,049	250	222	22	-338	697	1,887	620	196	403	932	207	146	172	6	153	42	136
Changes in operating assets and liabilities:
Accounts receivable
-26,023	30,229	-3,035	15,901	6,966	3,286	12,825	17,587	-3,691	6,162	10,420	2,303	2,316	26	9,355	4,325	-1,898	1,907	9,692	2,755	635	-1,258	3,247	682	1,175
Prepaid expenses and other current assets
-1,743	-2,648	1,843	5,380	3,774	453	2,742	4,061	3,364	-4	2,263	2,473	380	-1,153	-459	8,722	-862	1,349	900	2,468	793	-516	-657	1,764	853
Deferred costs
13,448	14,665	10,944	14,123	10,190	14,182	9,137	10,536	7,043	7,167	5,986	5,507	4,102	-	-	-	-	-	-	-	-	-	-	-	-
Lease right-of-use assets
4,975	4,918	4,915	4,734	4,373	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets and liabilities
232	-3,060	2,401	1,242	498	-14,661	-1,285	-2,716	12,027	442	1,919	3,072	332	2,058	1,449	-3	383	1,582	257	727	638	-421	-831	261	-751
Accounts payable
-10,323	-463	1,258	5,678	15,655	-13,073	10,341	9,214	1,052	-5,398	3,428	1,851	1,958	-1,266	-1,641	1,272	-1,851	3,936	-856	-51	-1,012	356	1,126	242	-777
Accrued liabilities
-662	2,739	65	-2,057	2,512	-3,229	-4,503	590	10,986	76	2,655	1,664	2,524	2,616	842	-504	2,307	-57	991	-53	1,323	-571	50	-352	1,224
Accrued compensation and related benefits
-9,541	7,933	-909	8,887	-4,629	12,539	-1,633	5,091	-971	5,896	109	3,990	-2,596	5,243	-286	3,164	-2,066	4,061	-96	578	-2,837	552	1,789	1,808	1,618
Deferred revenue
-21,464	32,427	6,240	27,294	12,149	22,501	16,951	22,691	10,910	21,357	13,293	10,177	6,704	11,977	9,353	9,874	6,369	9,481	11,068	9,363	3,941	5,100	7,643	5,539	4,108
Lease liabilities
8,794	3,843	8,631	2,562	3,832	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) operating activities
-2,609	32,211	20,223	17,858	18,969	22,938	15,744	23,696	16,242	17,306	7,345	10,295	7,282	20,566	-566	-29	4,589	10,284	-178	422	-5,195	2,108	5,070	-3,493	-1,595
Purchases of property and equipment
9,938	13,512	11,474	4,896	9,258	8,191	7,096	13,228	6,808	3,062	4,058	4,485	4,791	8,153	4,084	5,161	3,249	8,758	6,825	4,050	3,356	2,544	6,024	9,517	3,580
Internal-use software development costs
3,058	2,834	2,041	1,753	1,213	1,455	1,389	1,817	2,344	2,284	1,922	1,463	1,852	1,997	1,540	1,422	1,351	1,157	1,165	1,066	1,317	1,745	2,353	2,114	1,801
Purchases of marketable securities
121,430	79,943	103,883	125,681	145,142	108,800	342,415	170,690	78,321	42,030	52,954	41,567	40,758	32,408	80,469	115,376	20,795	13,312	21,144	21,046	14,801	-	-	-	-
Proceeds from maturities of marketable securities
74,231	31,205	45,875	53,031	47,265	39,063	37,239	39,317	55,263	27,775	27,274	30,032	31,654	15,719	7,495	6,425	10,051	6,557	12,405	10,500	7,520	3,500	700	4,850	1,400
Proceeds from sales of marketable securities
54,784	28,289	57,520	151,550	91,562	30,584	31,927	1,866	6,982	2,946	7,401	12,141	8,602	14,707	25,613	6,027	7,604	2,502	14,333	9,176	6,141	-	-	-	-
Business combinations, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	42,759	551	0	548	-	0	112	1,784
Purchases of strategic investments
1,500	0	0	0	500	10,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-6,911	-36,920	-14,003	1,457	-17,286	-58,799	-361,097	-144,552	-25,228	-16,655	-24,259	-21,812	-7,145	-12,132	-52,985	-109,507	-7,740	-56,927	-2,947	-6,486	-6,361	-7,956	-44,219	-13,357	-5,765
Proceeds from issuance of convertible senior notes, net of issuance costs paid of $13,561
-	-	-	-	-	0	-54	-570	562,063	0	0	0	0	-	-	-	-	-16	0	-684	190,794	-	-	-	-
Purchase of capped call related to convertible senior notes
-	-	-	-	-	0	0	0	63,940	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercises of employee stock options
4,001	4,518	8,767	4,773	8,437	2,896	3,507	3,554	6,193	13,332	3,375	3,486	11,689	5,526	10,499	7,472	1,915	4,836	797	2,038	2,938	4,484	-627	979	2,393
Proceeds from employee stock purchase plan
10,115	8,433	7,747	6,895	8,415	5,441	6,050	4,853	5,096	3,268	3,841	3,295	3,844	2,300	3,032	2,528	3,144	2,283	2,295	2,480	2,468	-	-	-	-
Taxes paid related to net share settlement of share-based awards
1,897	2,172	2,323	2,663	2,416	1,447	1,620	1,412	734	-	-	-	154	177	281	156	189	128	278	121	82	-	-	-	-
Principal payment on debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	6,199	753	748	0	18,238	1,762
Principal payments on debt and capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,952	0	0	10	93	92	90	89
Proceeds from issuance of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,940
Net cash provided by financing activities
12,219	10,779	14,191	9,005	14,436	6,118	9,558	4,709	508,678	16,026	6,564	5,172	15,379	7,853	13,383	9,521	4,870	7,300	2,843	-2,391	195,355	5,648	-421	86,059	4,482
Effect of exchange rate changes on cash, cash equivalents and restricted cash
16	16	19	33	33	36	-19	-1	-35	40	9	81	198	-161	-279	260	-154	183	-1	-98	158	29	-48	-10	8
Net increase in cash, cash equivalents and restricted cash
2,715	6,086	20,430	28,353	16,152	-29,707	-335,814	-116,148	499,657	16,717	-10,341	-6,264	15,714	16,126	-40,447	-99,755	1,565	-39,160	-283	-8,553	183,957	-171	-39,618	69,199	-2,870
Supplemental cash flow data
Cash paid for interest
719	0	719	0	719	0	699	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for taxes
657	1,368	1,794	1,519	700	-245	1,224	627	918	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for income taxes and interest
-	-	-	-	-	-	-	-	-	-	776	560	196	-	531	269	168	83	93	495	122	126	270	193	467
Non-cash investing and financing activities
Balance of property and equipment in accounts payable and accrued expenses
4,801	-3,328	-169	10,225	2,411	-98	759	1,417	3,504	453	-1,652	1,576	1,460	1,144	2,092	142	232	-1,071	3,288	465	497	-514	-4,003	1,506	3,495
Property and equipment acquired through tenant improvement allowances
0	0	0	65	349	205	1,174	2,891	1,370	210	437	0	0	173	-1,011	512	563	0	0	0	174	0	378	2,970	584
Estimated convertible senior notes offering costs incurred but not yet paid
-	-	-	-	-	-	-	-795	850	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common stock for the acquisition of Zopim
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	0	-89	10,982
Vesting of early exercised stock options
-	-	-	-	-	-	-	-	-	94	93	109	115	-	-	-	-	233	239	265	311	316	386	398	412
Follow-on offering related costs not yet paid for
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	605	-	-	-	-
Internal-Use Software Development Costs
Share-based compensation capitalized in deferred costs and in internal-use software development costs
850	797	579	425	375	428	487	649	850	720	678	612	694	604	209	-793	2,345	411	412	717	545	620	731	1,076	49
Deferred Costs
Share-based compensation capitalized in deferred costs and in internal-use software development costs
404	-	357	369	297	-	232	207	163	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-