Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net loss $ (10,358) $ (8,823)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 909 638
Stock-based compensation, preference shares and others 4,560 6,308
Non-cash settlement of preference share liability   (2,486)
Provision for doubtful accounts 813 117
Realized gains on marketable securities (2)  
Employee benefit obligation 69 89
Change in fair value of warrant liability 1,263  
Reversal of accrued interest on forward share purchase agreement (659)  
Non-cash interest expense 115 72
Deferred taxes 663 (323)
Change in operating assets and liabilities:    
Trade receivables 440 1,710
Other current assets (164) 1,111
Other long-term assets 1,499 (808)
Accounts payable (4,128) (5,694)
Other current liabilities (2,735) 3,526
Deferred revenue (474) 206
Long-term liabilities (18) 1,505
Net cash used in operating activities (8,207) (2,852)
Cash Flows from Investing Activities:    
Purchase of short-term investments   (3,179)
Sale of short-term investments 546 5,041
Purchase of property and equipment (91) (89)
Sale of property and equipment   16
Capitalized software development costs (768) (731)
Purchase of intangible assets (2) (6)
Net cash provided by (used in) investing activities (315) 1,052
Cash Flows from Financing Activities:    
Proceeds from (repayments on) in line of credit, net (663) 1,721
Borrowings on term loans   8,800
Repayments on term loans (1,869) (5,463)
Repayments on notes (3,750)  
Repurchase of common stock in connection with forward share purchase agreements   (2,587)
Receipts (payments) related to forward share purchase agreements 17,045 (167)
Proceeds related to settlement of non-forfeited 2020 Sponsor Earnout Shares 1,244  
Repayments on capital lease (37)  
Net cash provided by financing activities 11,970 2,304
Effect of exchange rate changes on cash, cash equivalents and restricted cash (911) (454)
Net increase in cash, cash equivalents and restricted cash 2,537 50
Cash, cash equivalents and restricted cash, beginning of period 32,970 36,997
Cash, cash equivalents and restricted cash, end of period 35,507 37,047
Supplemental disclosures of cash flow information:    
Cash paid for interest 368 153
Non-cash investing and financing activities    
Change in value of forward share purchase agreements (483) 271
Common stock issued to settle a payable   423
Note payable issued to settle a payable   $ 400
Stock-based compensation related to capitalized software development costs 170  
Receivable for proceeds from the exercise of warrants 2,872  
Conversion of convertible note to common stock 2,295  
Restricted stock units granted to employees for bonuses 281  
Fair value of warrant liability 344  
Reclassification of warrant liability to additional paid-in capital upon exercise of warrants $ (18)