Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (26,704) $ (22,284)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8,976 1,907
Stock-based compensation, preference shares and others 15,090 16,055
Non-cash settlement of preference share liability   (2,486)
Provision for doubtful accounts 792 144
Realized gains on marketable securities 17  
Employee benefit obligation 244 376
Change in fair value of warrant liability 664  
Reversal of accrued interest on forward share purchase agreement (659)  
Non-cash interest expense 745 151
Deferred taxes (6,872) (898)
Change in operating assets and liabilities:    
Trade receivables (12,735) 921
Other current assets (2,683) 1,884
Deferred costs 87  
Other long-term assets 1,421 (487)
Accounts payable 4,797 (13,727)
Other current liabilities 1,413 3,463
Deferred revenue 7,051 152
Long-term liabilities 439 815
Net cash used in operating activities (7,917) (14,014)
Cash Flows from Investing Activities:    
Purchase of short-term investments (52,224) (7,917)
Sale of short-term investments 20,546 7,815
Purchase of property and equipment (842) (969)
Sale of property and equipment   16
Capitalized software development costs (3,148) (2,074)
Purchase of intangible assets (24) (6)
Net cash used in investing activities (244,342) (3,135)
Cash Flows from Financing Activities:    
Proceeds from (repayments on) line of credit, net 440 749
Borrowings on term loans 1,268 24,437
Repayments on term loans (4,874) (6,344)
Proceeds from issuance of convertible notes, net of issuance costs 188,637  
Repayments on notes (7,500) (11,478)
Repurchase of common stock in connection with forward share purchase agreements   (30,431)
Receipts (payments) related to forward share purchase agreements 17,045 (1,452)
Proceeds related to settlement of non-forfeited 2020 Sponsor Earnout Shares 1,244  
Proceeds from the exercise of common stock warrants 2,872  
Repurchase of warrants (5,474)  
Repayments on capital lease (103)  
Net cash provided by financing activities 292,606 11,633
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,276) 33
Net increase (decrease) in cash, cash equivalents and restricted cash 39,071 (5,483)
Cash, cash equivalents and restricted cash, beginning of period [1] 32,970 36,997
Cash, cash equivalents and restricted cash, end of period [1] 72,041 31,514
Supplemental disclosures of cash flow information:    
Cash paid for interest 1,019 737
Cash paid for income taxes 424  
Non-cash investing and financing activities    
Change in value of forward share purchase agreements (483) (1,671)
Common stock issued to settle a payable   3,123
Note payable issued to settle a payable   3,100
Stock-based compensation capitalized as software development costs 770  
Conversion of convertible note to common stock 2,295  
Fair value of warrant liability 344  
Reclassification of warrant liability to additional paid-in capital upon exercise of warrants (18)  
Consideration payable 1,738  
MGage Europe Ltd    
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired (195,346)  
Non-cash investing and financing activities    
Common stock issued to Vivial equity holders (mGage acquisition) 18,832  
Bandyer Srl    
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired (13,304)  
Private Investment in Public Equity Offering    
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock, net of issuance costs $ 99,051  
Public Offering    
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock, net of issuance costs   $ 36,152
[1]

As of September 30, 2021, includes $70.3 million of cash and cash equivalents and $1.7 million of restricted cash; as of December 31, 2020, includes $33.0 million of cash and cash equivalents and zero of restricted cash.