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Lz Reconciliation of net cash provided by (used in)
operating activities to free cash flow
FYE Dec 31, $K
Net cash provided by (used in)
operating activities
Purchase of property and equipment
Free cash flow (¹)
Operating cash flow margin(2)
Free cash flow margin(2)
2020
$93,049
(10,587)
82,462
20%
18%
2021
2022 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23
$54,152 $73,837 ($6,004) $13,737 $11,020 $27,258 $21,822 $29,208 $45,165 $27,441
(11,740) (22,098) (3,240) (4,911) (5,468) (6,062) (5,657) (7,428) (7,799) (7,993)
42,412 51,739 (9,244) 8,826 5,552 21,196 16,165 21,780 37,366 19,448
12% (4%)
9%
7%
18%
15%
18%
8% (7%)
6%
3%
14%
11%
13%
9%
7%
27%
22%
16%
12%
(1) We define free cash flow as cash generated by operations after purchases of property and equipment including capitalized internal-use software. (2) We define operating cash flow margin as net cash provided by operating activities as a percentage of
revenue. We define free cash flow margin as free cash flow as a percentage of revenue. We define unlevered free cash flow margin as unlevered free cash flow as a percentage of revenue.
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