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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ (498,005) $ 242,385 $ (17,507)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 48,651 42,621 36,206
Stock-based compensation expense 359,931 187,532 134,076
Amortization of right-of-use assets 55,507 31,024 28,743
Amortization of content assets 234,355 95,570 22,392
Foreign currency remeasurement (gains) losses (8,230) 0 0
Change in fair value of strategic investment 532 0 0
Impairment of intangible assets 7,500 0 0
Provision for (recoveries of) doubtful accounts 2,081 (904) 3,801
Other items, net (190) (101) 524
Changes in operating assets and liabilities:      
Accounts receivable (10,887) (221,768) (196,046)
Inventories (56,471) 3,619 (4,181)
Prepaid expenses and other current assets (15,941) (48,074) (3,450)
Content assets and liabilities, net (313,204) (193,440) (22,721)
Other non-current assets (7,304) (19,335) (1,128)
Accounts payable 14,190 8,428 6,410
Accrued liabilities 167,526 128,931 127,319
Operating lease liabilities (9,245) (20,083) 12,999
Other long-term liabilities (403) (1,100) (762)
Deferred revenue 41,402 (7,224) 21,517
Net cash provided by operating activities 11,795 228,081 148,192
Cash flows from investing activities:      
Purchases of property and equipment (161,696) (40,041) (82,382)
Acquisition of businesses, net of cash acquired 0 (136,778) 0
Proceeds from escrows associated with acquisition 0 0 1,058
Purchase of strategic investment (40,000) 0 0
Net cash used in investing activities (201,696) (176,819) (81,324)
Cash flows from financing activities:      
Proceeds from borrowings, net of issuance costs 0 0 69,325
Repayments of borrowings (10,000) (5,000) (74,325)
Proceeds from equity issued under incentive plans 18,357 18,532 16,806
Proceeds from equity issued under at-the-market offerings, net of offering costs 0 989,615 497,242
Net cash provided by financing activities 8,357 1,003,147 509,048
Net increase (decrease) in cash, cash equivalents and restricted cash (181,544) 1,054,409 575,916
Effect of exchange rate changes on cash, cash equivalents and restricted cash (4,170) 12 0
Cash, cash equivalents and restricted cash —Beginning of period 2,147,670 1,093,249 517,333
Cash, cash equivalents and restricted cash —End of period 1,961,956 2,147,670 1,093,249
Cash, cash equivalents and restricted cash at end of period:      
Cash and cash equivalents 1,961,956 2,146,043 1,092,815
Restricted cash, current 0 0 434
Restricted cash, non-current 0 1,627 0
Cash, cash equivalents and restricted cash —End of period 1,961,956 2,147,670 1,093,249
Supplemental disclosures of cash flow information:      
Cash paid for interest 3,894 2,578 3,470
Cash paid for income taxes 7,016 1,363 1,014
Supplemental disclosures of non-cash investing and financing activities:      
Non-cash consideration for business combination 0 21,400 0
Services to be received as part of a business combination 0 6,500 0
Unpaid portion of property and equipment purchases $ 28,503 $ 3,073 $ 1,242