XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (5,796) $ (65,101)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 6,483 2,463
Amortization of operating lease right-of-use assets 582 345
Loss on sale and impairment of long-lived assets 70 68
Loss (gain) on remeasurement of private warrant liability (10,189) 15,910
Loss (gain) on remeasurement of contingent consideration 3,205 (355)
Loss (gain) on remeasurement of earnout liability (11,179) 18,770
Stock-based compensation 5,854 16,835
Amortization of investment premium/accretion of discount, net 566  
Net realized losses on investments 68  
Interest expense (non-cash) 1,046 311
Other 64  
Other   (225)
Change in operating assets and liabilities, net of acquisitions and divestitures    
Accounts receivable (1,296) (846)
Reinsurance balance due (11,323)  
Prepaid expenses and other current assets (6,749) 441
Accounts payable 1,051 (8,090)
Accrued expenses and other current liabilities (3,145) 2,625
Losses and loss adjustment expense reserves 17,659  
Other insurance liabilities, current 3,025  
Deferred revenue (2,228) (1,362)
Refundable customer deposits 1,412 (837)
Contingent consideration - business combination   (1,663)
Long-term insurance commissions receivable (1,540) (1,383)
Operating lease liabilities, non-current (235) (354)
Other (696) (487)
Net cash used in operating activities (13,291) (22,935)
Cash flows from investing activities:    
Purchases of property and equipment (1,167) (34)
Capitalized internal use software development costs (1,574) (798)
Purchases of short-term and long-term investments (8,835)  
Maturities, sales of short-term and long-term investments 8,449  
Non-refundable deposit for acquisition (4,950)  
Acquisitions, net of cash acquired   (22,882)
Net cash used in investing activities (8,077) (23,714)
Cash flows from financing activities:    
Repayments of principal and related fees (150) (150)
Proceeds from exercises of warrants   89,771
Proceeds from exercises of stock options 473 355
Income tax withholdings (712) (16,997)
Settlement of contingent consideration related to a business acquisition   (400)
Net cash (used) provided by financing activities (389) 72,579
Net change in cash, cash equivalents, and restricted cash (21,757) 25,930
Cash, cash equivalents, and restricted cash, beginning of period 324,792 207,453
Cash, cash equivalents, and restricted cash end of period 303,035 233,383
Supplemental disclosures    
Cash paid for interest $ 1,587 903
Non-cash consideration for acquisitions   2,906
Earnout liability   25,815
Proceeds receivable from exercises of warrants   $ 3,237