v3.24.0.1
CONSOLIDATED STATEMENTS OF CHANGES IN CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows provided by (used in) operating activities:      
Net income (loss) $ 49,888 $ (115,436) $ (115,171)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation on property and equipment 18,215 15,524 12,358
Amortization on intangible assets 3,434 3,268 0
Noncash lease expense 6,468 3,769 0
Impairment of assets 4,975 3,068 4,567
Equity-based compensation 37,293 138,495 36,511
Warrant liabilities 0 0 12,796
Deferred income tax expense (benefit) (722) (2,471) 0
Amortization of revolver loan costs 339 440 358
Premium amortization (discount accretion) on marketable securities (13,804) (2,958) 675
Changes in operating assets and liabilities:      
Accounts receivable 643 4,162 (4,208)
Prepaid expenses and other assets (3,192) 991 (11,422)
Prepaid revenue share fee (6,817) (7,313) (4,798)
Accounts payable 4,525 (752) 1,451
Accrued and other long term liabilities 33,714 34,979 50,045
Deferred revenue 92,801 94,889 87,021
Operating lease liabilities (2,727) (2,345) 0
Deferred rent 0 0 (476)
Net cash used provided by operating activities 225,033 168,310 69,707
Cash flows provided by (used in) investing activities:      
Business combinations, net of cash acquired (3,750) 0 (75,834)
Purchases of marketable securities (952,655) (1,462,550) (987,966)
Proceeds from Sale and Maturity of Marketable Securities 973,032    
Proceeds from sales and maturities of marketable securities   1,134,864 689,572
Purchase of strategic investment (6,000) 0 0
Purchases of property and equipment (25,555) (31,362) (28,148)
Purchases of intangible assets (580) (545) (822)
Net cash used in investing activities (15,508) (359,593) (403,198)
Cash flows provided by (used in) financing activities:      
IPO proceeds, net of underwriter fees and issuance costs 0 (297) 436,837
Repurchase of Class A Common Stock (69,673) (4,902) (11,744)
Proceeds from issuance of members’ equity, net of issuance costs 0 0 80,277
Issuance of warrants 0 0 289
Proceeds from the exercise of warrants 0 0 2,575
Payment of dividend (14,483) 0 0
Payment of special dividend (68,038) (21,843) 0
Distributions to members (42,674) (16,250) 0
Tax distribution to members (13,929) (171) (4,114)
Debt issuance costs (396) 0 (718)
Payment of taxes on net settled stock-based awards (6,814) (5,411) 0
Net cash provided by (used in) financing activities (216,007) (48,874) 503,402
Net increase (decrease) in cash, cash equivalents, and restricted cash (6,482) (240,157) 169,911
Cash, cash equivalents, and restricted cash, beginning of period 68,884 309,126 139,082
Exchange rate effect on cash and cash equivalents, and restricted cash (1) (85) 133
Cash, cash equivalents, and restricted cash, end of period $ 62,401 $ 68,884 $ 309,126

Source

HTML PDF
ZIP