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, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net loss $ (13,172) $ (10,358)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5,902 909
Stock-based compensation 6,759 4,560
Provision for doubtful accounts 176 813
Realized gains on marketable securities 5 (2)
Employee benefit obligation 514 69
Change in fair value of warrant liability (534) 1,263
Reversal of accrued interest on forward share purchase agreement   (659)
Non-cash interest expense 490 115
Deferred taxes 820 663
Change in operating assets and liabilities:    
Trade receivables 3,010 440
Other current assets 1,504 (164)
Deferred cost 22  
Other long-term assets (1,074) 1,499
Accounts payable (816) (4,128)
Other current liabilities 2,334 (2,735)
Deferred revenue (2,708) (474)
Long-term liabilities (40) (18)
Net cash provided by (used in) operating activities 3,192 (8,207)
Cash Flows from Investing Activities:    
Purchase of short-term investments (1,165)  
Sale of short-term investments   546
Purchase of property and equipment (544) (91)
Capitalized software development costs (2,332) (768)
Purchase of intangible assets   (2)
Net cash used in investing activities (3,983) (315)
Cash Flows from Financing Activities:    
Repayments on line of credit, net (525) (663)
Repayments on term loans (2,134) (1,869)
Repayments on notes   (3,750)
Receipts related to forward share purchase agreements   17,045
Proceeds related to settlement of non-forfeited 2020 Sponsor Earnout Shares   1,244
Repayments on capital lease (29) (37)
Net cash provided by (used in) financing activities (2,688) 11,970
Effect of exchange rate changes on cash, cash equivalents and restricted cash (334) (911)
Net increase (decrease) in cash, cash equivalents and restricted cash (3,813) 2,537
Cash, cash equivalents and restricted cash, beginning of period [1] 91,702 32,970
Cash, cash equivalents and restricted cash, end of period [1] 87,889 35,507
Supplemental disclosures of cash flow information:    
Cash paid for interest 173 368
Non-cash investing and financing activities    
Change in value of forward share purchase agreements   (483)
Stock-based compensation capitalized as 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)
Consideration payable (34)  
Bandyer Srl    
Cash Flows from Investing Activities:    
Acquisition, net of cash acquired $ 58  
[1]

As of March 31, 2022, includes $86.2 million of cash and cash equivalents and $1.7 million of restricted cash; as of December 31, 2021, includes $90.0 million of cash and cash equivalents and $1.7 million of restricted cash.