ZENDESK, INC. ZEN Cash Flow

Zendesk, inc. (ZEN)
CashFlow / TTM

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
-167,716	-169,653	-166,734	-166,654	-146,479	-131,084	-122,813	-114,484	-106,385	-102,141	-95,533	-95,543	-95,530	-97,620	-103,727	-96,827	-92,055	-84,052	-77,068	-76,062	-76,324	-67,415	0	0	0
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
41,110	38,602	37,119	35,558	35,387	36,520	34,861	34,462	33,873	31,931	31,769	30,491	28,903	27,506	26,072	24,087	22,047	19,744	17,455	15,756	13,871	11,456	0	0	0
Share-based compensation
162,155	156,730	151,960	144,756	129,152	119,483	108,709	99,639	92,437	84,553	79,517	77,137	74,838	73,429	71,836	65,283	60,022	52,556	45,571	42,946	40,544	32,139	0	0	0
Amortization of deferred costs
35,000	32,000	29,000	26,000	23,490	21,000	18,700	17,402	15,331	14,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount and issuance costs
25,649	25,288	24,932	24,581	24,234	18,766	12,665	6,650	720	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
2,407	740	941	1,395	2,992	2,848	3,087	2,543	156	603	2,268	2,866	3,400	3,106	2,151	1,738	1,688	1,457	531	477	373	337	0	0	0
Changes in operating assets and liabilities:
Accounts receivable
17,072	50,061	23,118	38,978	40,664	30,007	32,883	30,478	15,194	21,201	15,065	14,000	16,022	11,808	13,689	14,026	12,456	14,989	11,824	5,379	3,306	3,846	0	0	0
Prepaid expenses and other current assets
2,832	8,349	11,450	12,349	11,030	10,620	10,163	9,684	8,096	5,112	3,963	1,241	7,490	6,248	8,750	10,109	3,855	5,510	3,645	2,088	1,384	1,444	0	0	0
Deferred costs
53,180	49,922	49,439	47,632	44,045	40,898	33,883	30,732	25,703	22,762	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Lease right-of-use assets
19,542	18,940	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets and liabilities
815	1,081	-10,520	-14,206	-18,164	-6,635	8,468	11,672	17,460	5,765	7,381	6,911	3,836	3,887	3,411	2,219	2,949	3,204	1,201	113	-353	-1,742	0	0	0
Accounts payable
-3,850	22,128	9,518	18,601	22,137	7,534	15,209	8,296	933	1,839	5,971	902	323	-3,486	1,716	2,501	1,178	2,017	-1,563	419	712	947	0	0	0
Accrued liabilities
85	3,259	-2,709	-7,277	-4,630	3,844	7,149	14,307	15,381	6,919	9,459	7,646	5,478	5,261	2,588	2,737	3,188	2,204	1,690	749	450	351	0	0	0
Accrued compensation and related benefits
6,370	11,282	15,888	15,164	11,368	15,026	8,383	10,125	9,024	7,399	6,746	6,351	5,525	6,055	4,873	5,063	2,477	1,706	-1,803	82	1,312	5,767	0	0	0
Deferred revenue
44,497	78,110	68,184	78,895	74,292	73,053	71,909	68,251	55,737	51,531	42,151	38,211	37,908	37,573	35,077	36,792	36,281	33,853	29,472	26,047	22,223	22,390	0	0	0
Lease liabilities
23,830	18,868	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) operating activities
67,683	89,261	79,988	75,509	81,347	78,620	72,988	64,589	51,188	42,228	45,488	37,577	27,253	24,560	14,278	14,666	15,117	5,333	-2,843	2,405	-1,510	2,090	0	0	0
Purchases of property and equipment
39,820	39,140	33,819	29,441	37,773	35,323	30,194	27,156	18,413	16,396	21,487	21,513	22,189	20,647	21,252	23,993	22,882	22,989	16,775	15,974	21,441	21,665	0	0	0
Internal-use software development costs
9,686	7,841	6,462	5,810	5,874	7,005	7,834	8,367	8,013	7,521	7,234	6,852	6,811	6,310	5,470	5,095	4,739	4,705	5,293	6,481	7,529	8,013	0	0	0
Purchases of marketable securities
430,937	454,649	483,506	722,038	767,047	700,226	633,456	343,995	214,872	177,309	167,687	195,202	269,011	249,048	229,952	170,627	76,297	70,303	0	0	0	-	-	-	-
Proceeds from maturities of marketable securities
204,342	177,376	185,234	176,598	162,884	170,882	159,594	149,629	140,344	116,735	104,679	84,900	61,293	39,690	30,528	35,438	39,513	36,982	33,925	22,220	16,570	10,450	0	0	0
Proceeds from sales of marketable securities
292,143	328,921	331,216	305,623	155,939	71,359	43,721	19,195	29,470	31,090	42,851	61,063	54,949	53,951	41,746	30,466	33,615	32,152	0	0	0	-	-	-	-
Business combinations, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	43,858	0	0	0	-	0	0	0
Purchases of strategic investments
1,500	500	10,500	10,500	10,500	10,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-56,377	-66,752	-88,631	-435,725	-581,734	-589,676	-547,532	-210,694	-87,954	-69,871	-65,348	-94,074	-181,769	-182,364	-227,159	-177,121	-74,100	-72,721	-23,750	-65,022	-71,893	-71,297	0	0	0
Proceeds from issuance of convertible senior notes, net of issuance costs paid of $13,561
-	-	-	-	-	561,439	561,439	561,493	562,063	0	0	0	0	-	-	-	-	190,094	0	0	0	-	-	-	-
Purchase of capped call related to convertible senior notes
-	-	-	-	-	63,940	63,940	63,940	63,940	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercises of employee stock options
22,059	26,495	24,873	19,613	18,394	16,150	26,586	26,454	26,386	31,882	24,076	31,200	35,186	25,412	24,722	15,020	9,586	10,609	10,257	8,833	7,774	7,229	0	0	0
Proceeds from employee stock purchase plan
33,190	31,490	28,498	26,801	24,759	21,440	19,267	17,058	15,500	14,248	13,280	12,471	11,704	11,004	10,987	10,250	10,202	9,526	0	0	0	-	-	-	-
Taxes paid related to net share settlement of share-based awards
9,055	9,574	8,849	8,146	6,895	5,213	0	0	0	-	-	-	768	803	754	751	716	609	0	0	0	-	-	-	-
Principal payment on debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,700	7,700	19,739	20,748	0	0	0
Principal payments on debt and capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,962	103	195	285	364	0	0	0
Proceeds from issuance of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,940	0	0	0
Net cash provided by financing activities
46,194	48,411	43,750	39,117	34,821	529,063	538,971	535,977	536,440	43,141	34,968	41,787	46,136	35,627	35,074	24,534	12,622	203,107	201,455	198,191	286,641	95,768	0	0	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash
84	101	121	83	49	-19	-15	13	95	328	127	-161	18	-334	10	288	-70	242	88	41	129	-21	0	0	0
Net increase in cash, cash equivalents and restricted cash
57,584	71,021	35,228	-321,016	-465,517	17,988	64,412	389,885	499,769	15,826	15,235	-14,871	-108,362	-122,511	-177,797	-137,633	-46,431	135,961	174,950	135,615	213,367	26,540	0	0	0
Supplemental cash flow data
Cash paid for interest
1,438	1,438	1,438	1,418	1,418	699	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for taxes
5,338	5,381	3,768	3,198	2,306	2,524	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for income taxes and interest
-	-	-	-	-	-	-	-	-	-	0	0	1,706	-	1,051	613	839	793	836	1,013	711	1,056	0	0	0
Non-cash investing and financing activities
Balance of property and equipment in accounts payable and accrued expenses
11,529	9,139	12,369	13,297	4,489	5,582	6,133	3,722	3,881	1,837	2,528	6,272	4,838	3,610	1,395	2,591	2,914	3,179	3,736	-3,555	-2,514	484	0	0	0
Property and equipment acquired through tenant improvement allowances
65	414	619	1,793	4,619	5,640	5,645	4,908	2,017	647	610	-838	-326	237	64	1,075	563	174	174	552	3,522	3,932	0	0	0
Estimated convertible senior notes offering costs incurred but not yet paid
-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common stock for the acquisition of Zopim
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,892	0	0	0
Vesting of early exercised stock options
-	-	-	-	-	-	-	-	-	411	0	0	0	-	-	-	-	1,048	1,131	1,278	1,411	1,512	0	0	0
Follow-on offering related costs not yet paid for
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Internal-Use Software Development Costs
Share-based compensation capitalized in deferred costs and in internal-use software development costs
2,651	2,176	1,807	1,715	1,939	2,414	2,706	2,897	2,860	2,704	2,588	2,119	714	2,365	2,172	2,375	3,885	2,085	2,294	2,613	2,972	2,476	0	0	0
Deferred Costs
Share-based compensation capitalized in deferred costs and in internal-use software development costs
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-