XML 21 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net loss $ (601.5) $ (494.1) $ (270.2)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 86.3 64.4 51.2
Stock-based compensation 234.5 386.3 43.2
Equity in loss of unconsolidated entity 12.2 1.3 0.0
Change in acquisition related contingent consideration (2.2) (4.7) 8.9
Bad debt expense 7.3 8.9 16.0
Amortization of debt issuance costs 0.9 1.1 0.3
Changes in operating assets and liabilities:      
Accounts receivable 6.5 8.5 (16.3)
Compass Concierge receivables (11.7) 9.4 16.6
Other current assets 17.6 (40.0) 19.4
Other non-current assets 9.8 (11.8) (4.9)
Operating lease right-of-use assets and operating lease liabilities 5.8 2.4 34.6
Accounts payable (4.8) (3.3) (6.5)
Commissions payable (15.9) (0.3) 29.1
Accrued expenses and other liabilities (36.5) 43.3 20.5
Net cash used in operating activities (291.7) (28.6) (58.1)
Investing Activities      
Proceeds from sales and maturities of marketable securities 0.0 0.0 55.5
Investment in unconsolidated entity (15.0) (5.0) 0.0
Capital expenditures (70.1) (50.1) (43.3)
Payments for acquisitions, net of cash acquired (15.0) (137.4) (25.6)
Net cash used in investing activities (100.1) (192.5) (13.4)
Financing Activities      
Proceeds from exercise and early exercise of stock options 9.0 26.9 15.9
Proceeds from issuance of common stock under the Employee Stock Purchase Plan 2.3 0.0 0.0
Taxes paid related to net share settlement of equity awards (23.5) (62.4) 0.0
Payments related to acquisitions, including contingent consideration (17.5) (10.7) (3.2)
Proceeds from issuance of common stock upon initial public offering, net of offering costs 0.0 439.6 0.0
Other (0.6) (1.9) (1.2)
Net cash provided by financing activities 135.4 399.3 19.9
Net (decrease) increase in cash and cash equivalents (256.4) 178.2 (51.6)
Cash and cash equivalents at beginning of period 618.3 440.1 491.7
Cash and cash equivalents at end of period 361.9 618.3 440.1
Supplemental disclosures of cash flow information:      
Cash paid for interest 2.3 1.3 0.2
Supplemental non-cash information:      
Issuance of common stock for acquisitions 3.6 10.1 1.2
Conversion of convertible preferred stock in connection with initial public offering 0.0 1,419.1 0.0
Concierge credit facility      
Financing Activities      
Proceeds from drawdowns on Concierge credit facility 59.0 39.5 11.4
Repayments of drawdowns on Concierge credit facility (43.3) (31.7) (3.0)
Revolving credit facility      
Financing Activities      
Proceeds from drawdowns on Concierge credit facility 150.0 0.0 0.0
Series D      
Supplemental non-cash information:      
Conversion of stock, amount issued $ 0.0 $ 67.6 $ 40.0