Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated statements of cash flows

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Consolidated statements of cash flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (29,373) $ (83,661) $ (68,979)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 10,258 10,584 3,167
Finance expense 1,646 1,112 45
Unrealized gain from hedging future transactions (52) (20) (23)
Share-based compensation 18,127 16,987 11,171
Gain on sale of equipment 0 (142) 0
Provision for accrued interest on Credit Facility 0 0 (53)
Changes in operating assets and liabilities:      
Change in operating lease right-of-use assets and liabilities, net (1,926) 5,744 0
Increase in accounts receivable, net (9,728) (6,882) (5,132)
Increase in deferred contract costs (2,873) (459) (6,127)
(Increase) decrease in other current assets 617 1,342 (5,556)
(Increase) decrease in other non-current assets (53) 372 (412)
Increase (decrease) in accounts payable 1,255 (4,284) 6,631
Increase in deferred revenue 6,677 15,055 24,384
Decrease in deferred rent 0 0 (410)
Increase (decrease) in other non-current liabilities 961 (1,497) 475
Increase (decrease) in other liabilities and accrued expenses 1,426 (316) 13,194
Net cash used in operating activities (3,038) (46,065) (27,625)
Cash flows from investing activities:      
Purchase of property and equipment, net (1,559) (28,257) (2,311)
Capitalized internal-use software costs (821) (2,919) (502)
(Increase) decrease in restricted deposits (206) 1,660 (10,020)
Decrease in short-term investments 0 0 30,000
Payment for business combinations, net of cash acquired 0 (3,787) (9,507)
Cash received in relation to business combinations 0 294 0
Purchase of intangible assets 0 0 (300)
Net cash provided by (used in) investing activities (2,586) (33,009) 7,360
Cash flows from financing activities:      
Proceeds from exercise of stock options 2,296 2,034 1,222
Proceeds from employee share purchase plan 1,259 2,083 0
Borrowings under Credit Facility 0 25,000 30,000
Repayment of Credit Facility 0 0 (56,800)
Repayment of borrowings assumed in business combinations 0 0 (112)
Proceeds from initial public offering, net of underwriting fees, commissions and other issuance costs 0 0 150,936
Payments of contingent consideration, net (2,363) 0 0
Net cash provided by financing activities 1,192 29,117 125,246
Effect of exchange rates on cash and cash equivalents (1,646) (1,112) (45)
Net increase (decrease) in cash and cash equivalents (6,078) (51,069) 104,936
Cash and cash equivalents, beginning of period 71,732 77,810 128,879
Cash and cash equivalents, end of period 77,810 128,879 23,943
Supplemental disclosure of cash flow information:      
Interest paid (received), net (203) (18) 531
Taxes paid 1,883 485 468
Supplemental disclosure of non-cash financing activities:      
Initial public offering costs incurred during the period included in accounts payable and accrued expenses 0 (121) 270
Additions to operating lease right-of-use assets and liabilities 2,597 9,485 0
Deferred proceeds from exercise of share options included in other current assets 11 0 0
Deferred costs of property and equipment incurred during the period included in accounts payable 139 116 0
Deferred payments related to business combinations held in escrow 1,269 0 0
Schedule A : Business combinations      
Working capital deficit, net (excluding cash and cash equivalents) 0 (657) (8,865)
Cash refund to be received resulting from adjustment to working capital     0
Property, plant and equipment 0 43 13
Goodwill and other intangible assets 0 4,361 20,374
Deferred taxes, net 0 (153) (2,015)
Total $ 0 $ 3,787 $ 9,507