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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (61,555) $ (9,218)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Depreciation and amortization 3,027 2,571
Stock-based compensation expense, net 42,135 4,225
Other 179 (38)
Changes in operating assets and liabilities:    
Disbursement prefunding (39,873) 50,310
Customer funds receivable (29,868) (8,863)
Prepaid expenses and other assets (2,687) (5,527)
Operating lease right-of-use assets 1,743 1,336
Accounts payable 4,317 1,845
Customer liabilities 60,279 17,376
Accrued expenses and other liabilities 50,395 7,937
Operating lease liabilities (2,062) (1,678)
Net cash provided by operating activities 26,030 60,276
Cash flows from investing activities    
Purchases of property and equipment (1,492) (671)
Capitalized internal-use software costs (1,688) (1,581)
Net cash used in investing activities (3,180) (2,252)
Cash flows from financing activities    
Proceeds from issuance of Series F convertible preferred stock, net of issuance costs 0 2,980
Proceeds from exercise of stock options 4,467 4,374
Taxes paid related to net share settlement of equity awards (30) 0
Repayments of revolving credit facility borrowings, net 0 (80,000)
Net cash provided by (used in) financing activities 4,437 (72,646)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (840) 181
Net increase (decrease) in cash, cash equivalents and restricted cash 26,447 (14,441)
Cash, cash equivalents, and restricted cash at beginning of period 403,313 188,075
Cash, cash equivalents, and restricted cash at end of period 429,760 173,634
Supplemental disclosure of cash flow information    
Cash paid for interest 465 497
Cash paid for income taxes 829 93
Supplemental disclosure of noncash investing and financing activities    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 6,932 251
Vesting of early exercised options 393 101
Noncash issuance shares through Employee Stock Purchase Plan 1,882 0
Stock compensation capitalized to internal-use software 900 0
IPO costs incurred but not yet paid 0 1,231
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 429,709 173,363
Restricted Cash and Cash Equivalents 51 271
Total cash, cash equivalents and restricted cash $ 429,760 $ 173,634