XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net (loss) income $ (44,206) $ 39,061
Adjustments to reconcile net income (loss) income to net cash used in operating activities:    
Depreciation and amortization 357 7,699
Non-cash lease expense related to operating lease right-of-use assets 0 567
Stock-based compensation 8,709 13,687
Gain on change in fair value of earn-out liability (110) (96,400)
Long-lived asset impairment 13,480 0
Loss (gain) on foreign currency exchange rates (17) 104
Provision for doubtful accounts 388 32
Changes in operating assets and liabilities:    
Accounts receivable and unbilled services (4,262) (2,507)
Prepaid expenses and other current assets 202 (378)
Other assets 34 94
Accounts payable (3,258) (6,250)
Accrued expenses and other current liabilities (2,416) (5,879)
Deferred revenue (1,270) (5)
Operating lease liabilities (324) (294)
Other, net (32) 115
Net cash used in operating activities (32,725) (50,354)
Cash flows from investing activities:    
Payments related to capitalized software development costs (9,714) (16,228)
Purchase of internal-use software (750) 0
Purchases of property and equipment (27) (159)
Net cash used in investing activities (10,491) (16,387)
Cash flows from financing activities:    
Proceeds from stock option exercises 26 472
Proceeds from issuance of stock under the employee stock purchase plan 75 0
Payments related to tax withholdings for share-based compensation (17) 0
Net cash provided by financing activities 84 472
Effect of foreign currency exchange rate changes on cash 44 (3)
Net decrease in cash and cash equivalents (43,088) (66,272)
Cash and cash equivalents, beginning of period 108,091 214,601
Cash and cash equivalents, end of period 65,003 148,329
Supplemental disclosures of non-cash activities    
Balance in accounts payable, accrued expenses and other current liabilities, and capitalized stock-based compensation related to capitalized software and fixed asset additions (3,345) (4,152)
Balance in prepaid expenses and other current assets related to stock option exercises $ 0 $ 28