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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 8 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 12, 2019
Sep. 30, 2020
Financial Designation, Predecessor and Successor [Fixed List]   Predecessor  
Operating activities:      
Net loss $ (11,706) $ (57,063) $ (230,299)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Share-based compensation 0 87,060 213,146
Depreciation and amortization 92 4,247 2,899
Amortization of intangible assets 4,703 0 70,543
Amortization of debt discount and issuance costs 79   1,744
Change in fair value of contingent consideration 0 0 19,700
Other non-cash items 285 150 (1,100)
Changes in assets and liabilities:      
Accounts receivable (122) (108) 17,552
Commissions receivable (15,405) (63,448) (117,888)
Prepaid expenses and other assets (140) 1,325 (13,576)
Accounts payable 3,276 (1,981) (4,402)
Accrued liabilities (5,028) 17,860 (1,793)
Deferred revenue 18,098 1,926 40,188
Commissions payable 8,283 19,228 27,983
Other liabilities 13,728 85 4,138
Net cash provided by operating activities 16,143 9,281 28,835
Investing activities:      
Acquisition of business, net of cash (807,591)   0
Purchases of property, equipment and software (813) (5,597) (12,023)
Net cash used in investing activities (808,404) (5,597) (12,023)
Financing activities:      
Proceeds from issuance of Class A common stock sold in initial public offering, net of offering costs 0   852,407
Payment of partial consideration to Blocker Shareholders in the Blocker Merger 0   (96,165)
Purchase of LLC Interests from Continuing Equity Owners 0   (508,320)
Settlement of Senior Preferred Earnout Units 0   (100,000)
Proceeds received upon issuance of preferred units 541,263   0
Proceeds received upon issuance of common units 0   10,000
Borrowings under term loans 300,000   117,000
Principal payments under term loans 0   (2,835)
Borrowings under revolving credit facilities   56,534  
Payments under revolving credit facilities   (59,915)  
Debt issuance cost payments (9,283)   (6,291)
Principal payments under capital lease obligations (270) (68) (218)
Net cash provided by (used in) financing activities 831,710 (3,449) 265,578
Effect of exchange rate changes on cash (2) (32) (68)
Increase in cash and cash equivalents 39,447 203 282,322
Cash and cash equivalents at beginning of period 708 505 12,276
Cash and cash equivalents at end of period 40,155 708 294,598
Non-cash investing and financing activities:      
Purchases of property, equipment and software included in accounts payable 277 113 1,104
Purchases of property, equipment and software under capital leases   $ 744  
Issuance of equity to settle contingent consideration liability 0    
Net issuance of Class A and Class B common stock in connection with the Transactions 0   30
Settlement of contingent consideration liability $ 0   62,400
Senior preferred earnout stock      
Non-cash investing and financing activities:      
Issuance of equity to settle contingent consideration liability     100,000
Common earnout stock      
Non-cash investing and financing activities:      
Issuance of equity to settle contingent consideration liability     $ 100,000