Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from Operating Activities:    
Net loss $ (26,810) $ (5,512)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,773 2,648
Stock-based compensation, preference shares and others 19,415 2,070
Non-cash settlement of preference share liability (2,486)  
Provision for (recovery of) doubtful accounts (177) 716
Realized gains on marketable securities (10)  
Employee benefit obligation 527 315
Non-cash interest expense 191 657
Deferred taxes (2,747) (14)
Change in operating assets and liabilities:    
Trade receivables (478) (10,427)
Other current assets 1,197 (2,039)
Other long-term assets (497) 47
Accounts payable (11,832) 15,145
Other current liabilities 6,892 251
Deferred revenue 2,219 (64)
Long-term liabilities (499) 2,660
Net cash provided by (used in) operating activities (12,322) 6,453
Cash flows from Investing Activities:    
Purchase of short-term investments (7,913) (5,868)
Sale of short-term investments 8,156 3,882
Purchase of property and equipment (414) (1,413)
Sale of property and equipment 16 38
Capitalized software development costs (3,007) (602)
Purchase of intangible assets (6) (16)
Cash, cash equivalents and restricted cash acquired in the reverse merger   21,666
Net cash provided by (used in) investing activities (3,168) 17,687
Cash flows from Financing Activities:    
Change in line of credit 1,277 1,973
Borrowings on term loans 24,436 16,670
Repayments on term loans (8,651) (4,844)
Repayments on notes (11,478)  
Repurchase of common stock in connection with forward share purchase agreements (30,431)  
Payments related to forward share purchase agreements (1,452)  
Proceeds from issuance of stock in public offering, net of issuance costs 36,152  
Repayments on capital lease (126)  
Net cash provided by financing activities 9,727 4,702
Effect of exchange rate changes on cash, cash equivalent and restricted cash 1,736 (52)
Net increase (decrease) in cash, cash equivalents and restricted cash (4,027) 28,790
Cash, cash equivalents and restricted cash, beginning of period [1] 36,997 8,207
Cash, cash equivalents and restricted cash, end of period [1] 32,970 36,997
Supplemental disclosure of cash flow information:    
Cash paid for interest 958 478
Cash paid for income taxes   688
Non-cash investing and financing activities:    
Change in value of forward share purchase agreements (1,668)  
Common stock issued to settle payables 3,123  
Note payable issued to settle payables 3,100  
Stock-based compensation related to capitalized software development costs 697  
Asset acquired under capital leases $ 250  
Buc Mobile    
Cash flows from Financing Activities:    
Payment of deferred consideration for the acquisition   (4,000)
Solutions Infini    
Cash flows from Financing Activities:    
Payment of deferred consideration for the acquisition   $ (5,097)
[1] As of December 31, 2020, includes $33.0 million of cash and cash equivalents; as of December 31, 2019, includes $16.1 million of cash and cash equivalents and $20.9 million of restricted cash