| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'13 | |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-305,361 | -119,858 | -94,420 | -220,438 | -148,874 | -12,453 | |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||
Depreciation and amortization | ||||||
87,467 | 99,391 | 110,155 | 100,590 | 75,386 | 23,254 | |
Share-based compensation expense | ||||||
198,902 | 149,084 | 113,571 | 106,918 | 105,214 | 23,436 | |
Amortization of right of use assets | ||||||
23,142 | - | - | - | - | - | |
Amortization of contract cost assets | ||||||
35,300 | 36,000 | 0 | 0 | - | - | |
Gain (Loss) on Extinguishment of Debt | ||||||
- | - | - | -22,757 | - | - | |
Amortization of discount and issuance costs on convertible senior notes maturing in 2021, 2023, 2024 and 2026 | ||||||
52,097 | 26,672 | 18,012 | 883 | - | - | |
Impairment costs | ||||||
- | - | - | 0 | 19,001 | - | |
Impairment costs | ||||||
0 | 79,000 | 174,000 | - | - | - | |
Deferred income taxes | ||||||
-4,258 | -31,102 | -89,586 | -1,370 | -2,853 | - | |
Release of valuation allowance on certain deferred tax assets | ||||||
- | - | - | - | - | 4,111 | |
Loss on disposal of property and equipment and other assets | ||||||
-7,174 | -3,617 | -5,678 | -3,689 | -1,384 | -910 | |
Gain on divestiture of businesses, net | ||||||
- | - | - | 1,360 | -3,899 | - | |
Credit loss expense | ||||||
2,772 | 869 | 7,349 | 2,681 | 3,235 | 1,907 | |
Deferred rent | ||||||
0 | -2,045 | 7,085 | 1,730 | 2,553 | 400 | |
Accretion of bond discount | ||||||
6,344 | 4,313 | -431 | - | - | - | |
Accretion of bond discount | ||||||
- | - | - | 1,489 | 2,487 | 624 | |
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
3,694 | 12,556 | 21,203 | 13,324 | 1,051 | 7,571 | |
Mortgage loans held for sale | ||||||
1,098 | 1,161 | 0 | 0 | - | - | |
Inventory | ||||||
673,798 | 162,829 | 0 | 0 | - | - | |
Prepaid expenses and other assets | ||||||
978 | 34,068 | -10,807 | 13,260 | 761 | 1,543 | |
Lease liabilities | ||||||
-18,940 | - | - | - | - | - | |
Contract cost assets | ||||||
- | - | - | 0 | - | - | |
Contract cost assets | ||||||
34,713 | 41,510 | 0 | - | - | - | |
Accounts payable | ||||||
-496 | 1,311 | -373 | 856 | -11,158 | 1,497 | |
Accrued expenses and other current liabilities | ||||||
19,573 | 1,920 | 19,000 | -5,065 | -18,384 | -668 | |
Accrued compensation and benefits | ||||||
6,417 | 11,291 | -4,948 | 12,463 | -4,020 | 1,706 | |
Deferred revenue | ||||||
5,667 | 2,162 | 2,633 | 7,794 | -2,434 | 3,910 | |
Other long-term liabilities | ||||||
-1,028 | 1,962 | 0 | 1,612 | -965 | - | |
Net cash provided by (used in) operating activities | ||||||
-612,174 | 3,850 | 258,191 | 8,645 | 22,659 | 31,298 | |
Investing activities | ||||||
Proceeds from maturities of investments | ||||||
1,126,058 | 399,228 | 259,227 | 199,369 | 335,443 | 53,000 | |
Proceeds from sales of investments | ||||||
0 | 13,567 | 0 | 4,963 | 8,260 | - | |
Purchases of investments | ||||||
1,495,477 | 901,761 | 407,032 | 175,210 | 307,658 | 236,147 | |
Decrease in restricted cash, net of amounts assumed in connection with an acquisition | ||||||
- | - | - | - | -3,931 | - | |
Purchases of property and equipment | ||||||
67,044 | 66,054 | 66,728 | 62,060 | 52,685 | 22,047 | |
Purchases of intangible assets | ||||||
19,591 | 12,481 | 11,907 | 9,662 | 15,423 | 3,925 | |
Purchases of equity investments | ||||||
- | - | 10,000 | - | - | - | |
Purchases of cost method investments | ||||||
- | - | - | 10,000 | - | - | |
Proceeds from divestiture of business | ||||||
0 | 0 | 579 | 3,200 | 23,359 | - | |
Cash acquired in acquisition, net | ||||||
- | - | - | - | 173,406 | - | |
Cash paid for acquisitions, net | ||||||
0 | 55,138 | 11,533 | 16,319 | 104,192 | 42,708 | |
Net cash provided by investing activities | ||||||
-456,054 | -622,639 | -247,394 | -65,719 | 64,441 | -251,827 | |
Financing activities | ||||||
Proceeds from issuance of convertible notes, net of issuance costs | ||||||
1,157,675 | 364,020 | 0 | - | - | - | |
Proceeds from issuance of convertible notes, net of issuance costs | ||||||
- | - | - | 447,784 | - | - | |
Premiums paid for capped call confirmations | ||||||
159,677 | 29,414 | 0 | 36,616 | - | - | |
Proceeds from issuance of Class C capital stock, net of issuance costs | ||||||
0 | 360,345 | 0 | 0 | - | - | |
Proceeds from borrowings on credit facilities | ||||||
688,489 | 116,700 | 0 | 0 | - | - | |
Proceeds from borrowings on credit facilities | ||||||
- | - | - | 0 | - | - | |
Repayments of borrowings on credit facilities | ||||||
113,665 | 0 | 0 | - | - | - | |
Net borrowings (repayments) on warehouse lines of credit and repurchase agreement | ||||||
-2,590 | 482 | 0 | - | - | - | |
Partial repurchase of 2020 Notes | ||||||
- | - | - | 370,235 | - | - | |
Proceeds from exercise of stock options | ||||||
65,465 | 120,074 | 98,071 | 31,211 | 24,423 | 18,350 | |
Value of equity awards withheld for tax liability | ||||||
3 | 70 | 365 | 616 | 8,150 | - | |
Contingent merger consideration | ||||||
0 | 2,000 | 0 | 0 | - | - | |
Proceeds from public offering, net of offering costs | ||||||
- | - | - | - | - | 253,899 | |
Net cash provided by (used in) financing activities | ||||||
1,635,694 | 930,137 | 97,706 | 71,528 | 16,273 | 272,249 | |
Net increase in cash, cash equivalents and restricted cash during period | ||||||
567,466 | 311,348 | 108,503 | 14,454 | 103,373 | 51,720 | |
Supplemental disclosures of cash flow information | ||||||
Cash paid for interest | ||||||
42,156 | 15,473 | 9,198 | 6,325 | 6,325 | - | |
Noncash transactions: | ||||||
Value of Class A common stock issued in connection with an acquisition | ||||||
- | - | - | - | 1,883,728 | - | |
Capitalized share-based compensation | ||||||
11,947 | 8,590 | 11,236 | 10,061 | 10,319 | 3,817 | |
Write-off of fully depreciated property and equipment | ||||||
36,159 | 22,364 | 15,004 | 14,564 | 26,242 | 3,697 | |
Write-off of fully amortized intangible assets | ||||||
9,999 | 12,999 | 5,473 | 9,293 | - | - | |
Property and equipment purchased on account | ||||||
8,775 | 3,844 | 4,268 | - | - | - | |