Investor Presentaiton
Historical Consolidated Statements of Cash Flows (Unaudited)
3 months ended
(in thousands)
Cash flows from operating activities
3/31/2022
6 months ended
6/30/2022
9 months ended
9/30/2022
12 months ended
12/31/2022
3 months ended
3/31/2023
6 months ended
6/30/2023
Net loss
$
(10,407) $
(13,829) $
(24,148) $
(45,407) $
(14,701) $
(12,596)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization
53,622
25,545
51,283
76,606
102,369
27,272
Provision for credit losses and sales returns
Stock-based compensation expense
Deferred taxes
1,875
3,653
4,374
6,066
1,522
3,798
27,860
55,714
83,659
110,294
29,925
63,289
(7,431)
(16,656)
(21,672)
(26,644)
9,245
(33,101)
Amortization of deferred financing costs and discount
645
1,254
1,827
2,364
500
Other non-cash adjustments
(150)
4,225
5,677
5,676
(215)
963
(1,569)
Changes in operating assets and liabilities, net of acquisition and disposal of
businesses:
Accounts receivable
9,010
(50,818)
9,998
(7,340)
1,139
(69,624)
Prepaid expenses and other assets
(2,067)
3,685
22,246
26,235
(2,750)
9,470
Trade accounts payable
15,919
12,769
14,435
21,607
3,362
(3,431)
Accrued expenses and other liabilities
Deferred revenue
Net cash provided by operating activities
(13,430)
(8,739)
(7,028)
(2,386)
(15,931)
11,948
(22,865)
39,238
23,832
11,059
(17,562)
52,233
24,504
81,779
189,806
203,893
21,806
75,002
Cash flows from investing activities
Purchase of property and equipment
(4,266)
(7,518)
(10,512)
(12,289)
(1,364)
(2,779)
Capitalized software and content development costs
(12,683)
(27,183)
(42,757)
(58,774)
(13,967)
(28,756)
Purchase of net assets of acquired companies, net of cash and restricted cash acquired
(19,985)
(19,016)
(20,945)
(20,912)
Net cash used in sale of business
6,426
6,426
Net cash used in investing activities
(36,934)
(53,717)
(67,788)
(85,549)
(15,331)
(31,535)
Cash flows from financing activities
Proceeds from issuance of debt
59,400
113,200
Payments on debt
(33,765)
(129,548)
126,900
(229,442)
211,000
(310,740)
92,600
(75,403)
158,000
(171,824)
Stock issuance costs
(557)
Employee taxes paid for withheld shares upon equity award settlement
(34,674)
(35,600)
Change in due to customers
(315,294)
(141,001)
Change in customer funds receivable
(1,115)
(546)
(1,205)
(36,057)
(243,109)
(1,291)
(1,339)
(36,376)
(31,417)
(33,687)
111,386
(337,159)
61,313
380
(1,859)
(3,359)
Net cash (used in) provided by financing activities
Effect of exchange rate on cash, cash equivalents, and restricted cash
Net (decrease) increase in cash, cash equivalents, and restricted cash
Cash, cash equivalents, and restricted cash, beginning of period
Cash, cash equivalents, and restricted cash, end of period
Note 1: The individual amounts for each quarter may not sum to full year totals due to rounding.
(325,448)
(194,052)
(384,204)
(25,689)
(353,238)
10,443
(504)
(7,252)
(14,235)
(10,486)
986
2,489
(338,382)
(173,242)
(276,421)
82,169
651,762
$
313,380 $
651,762
478,520 $
651,762
375,341 $
651,762
733,931 $
(345,777)
733,931
56,399
733,931
388,154 $
790,330
38
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