v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (3,427) $ (15,607)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 7,242 6,709
Stock-based compensation expense 29,239 26,693
Amortization of debt discount and issuance costs 1,057 1,010
Unrealized gain on foreign currency exchange (1,326) (1,674)
Accretion on short-term investments (2,769) (3,585)
Non-cash operating lease expenses 273 5,002
Amortization of creator signing fees 401 468
Changes related to creator advances, creator signing fees, and allowance for credit losses (2,920) (1,496)
Provision for chargebacks and refunds 14,559 5,755
Gain on litigation settlement (3,927) 0
Other 623 908
Changes in operating assets and liabilities    
Accounts receivable (2,866) (763)
Funds receivable 20,155 24,136
Creator signing fees and creator advances (3,922) 655
Prepaid expenses and other assets 1,291 1,061
Accounts payable, creators 9,712 15,789
Accounts payable (366) (487)
Chargebacks and refunds reserve (14,415) (8,350)
Accrued compensation and benefits (8,988) 985
Accrued taxes (3,840) (8,596)
Operating lease liabilities (991) (1,933)
Other accrued liabilities (4,003) 1,480
Net cash provided by operating activities 30,792 48,160
Cash flows from investing activities    
Purchases of short-term investments (112,185) (150,565)
Maturities of short-term investments 212,002 85,500
Purchases of property and equipment (403) (521)
Capitalized internal-use software development costs (4,818) (3,161)
Net cash provided by (used in) investing activities 94,596 (68,747)
Cash flows from financing activities    
Repurchase of common stock (36,508) 0
Proceeds from exercise of stock options 0 748
Taxes paid related to net share settlement of equity awards (5,776) (3,201)
Proceeds from issuance of common stock under ESPP 454 567
Principal payments on finance lease obligations 0 (1)
Net cash used in financing activities (41,830) (1,887)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,741 2,787
Net increase in cash, cash equivalents and restricted cash 86,299 (19,687)
Cash, cash equivalents and restricted cash    
Beginning of period 489,200 540,174
End of period 575,499 520,487
Supplemental cash flow data    
Interest paid 4,548 4,549
Income taxes paid, net of refunds 994 323
Non-cash investing and financing activities    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 1,011 0
Reduction of right-of-use assets due to modification or exit 0 3,917
Other accrued liability recorded for common stock repurchases $ 536 $ 0