v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income (loss) $ 14,869 $ (6,924)
Adjustments to reconcile net income to net cash provided by operating activities    
Bad debt expense 1,997 199
Depreciation and amortization expense 17,357 14,496
Amortization of debt issuance costs 147 147
Non-cash lease expense 3,882  
Deferred taxes (3,974) (3,175)
Stock-based compensation expense 20,253 7,252
Interest expense 72 9
Loss on disposal of fixed assets 1,345  
Impairment of long-lived assets 1,510  
Change in fair value of contingent consideration   57
Offering costs   21,801
Other (302) 62
Changes in operating assets and liabilities net of effect of business combinations    
Trade receivables (21,942) 8,518
Prepaid expenses and other assets (949) (583)
Trade payables 2,262 541
Accrued expenses and other liabilities (9,978) (172)
Net cash provided by operating activities 26,549 42,228
Investing activities:    
Purchase of property, plant and equipment (13,606) (3,513)
Net cash (used in) investing activities (13,606) (3,513)
Financing activities:    
Payments of long-term debt   (22,000)
Deferred payment related to Zentrick acquisition   (50)
Payment of contingent consideration related to Zentrick acquisition (3,247)  
Proceeds from common stock issued upon exercise of stock options 2,516 3,447
Proceeds from common stock issued under employee purchase plan 768  
Proceeds from issuance of common stock upon initial public offering   269,390
Proceeds from issuance of common stock in connection to concurrent private placement   30,000
Payments related to offering costs (6) (21,708)
Finance lease payments (907) (804)
Shares repurchased for settlement of employee tax withholdings (9,191)  
Net cash (used in) provided by financing activities (10,067) 258,275
Effect of exchange rate changes on cash and cash equivalents and restricted cash (738) 13
Net increase in cash, cash equivalents, and restricted cash 2,138 297,003
Cash, cash equivalents, and restricted cash - Beginning of period 221,725 33,395
Cash, cash equivalents, and restricted cash - End of period 223,863 330,398
Supplemental cash flow information:    
Cash paid for taxes 1,161 3,305
Cash paid for interest 282 525
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities 79,565  
Acquisition of equipment under finance lease   1,518
Offering costs included in accounts payable and accrued expense   89
Conversion of Series A preferred stock to common stock   610
Treasury stock reissued upon the conversion of Series A preferred stock for common stock   $ 260,686
Stock-based compensation included in capitalized software development costs $ 258  

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