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

Consolidated statements of cash flows

v3.23.1
Consolidated statements of cash flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (83,661) $ (68,979) $ (21,996)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 10,584 3,167 1,964
Finance (income) expense 1,112 45 (202)
Unrealized loss (gain) from hedging future transactions (20) (23) 313
Share-based compensation 16,987 11,171 4,800
Gain on sale of equipment (142) 0 0
Provision for accrued interest on Credit Facility 0 (53) 2
Changes in operating assets and liabilities:      
Change in operating lease right-of-use assets and liabilities, net 5,744 0 0
Increase in accounts receivable, net (6,882) (5,132) (6,620)
Increase in deferred contract costs (459) (6,127) (5,211)
(Increase) decrease in other current assets 1,342 (5,556) (249)
(Increase) decrease in other non-current assets 372 (412) (272)
Increase (decrease) in accounts payable (4,284) 6,631 1,295
Increase in deferred revenue 15,055 24,384 12,895
Decrease in deferred rent 0 (410) (443)
Increase (decrease) in other non-current liabilities (1,497) 475 327
Increase (decrease) in other liabilities and accrued expenses (316) 13,194 9,637
Net cash used in operating activities (46,065) (27,625) (3,760)
Cash flows from investing activities:      
Purchase of property and equipment, net (28,257) (2,311) (748)
Capitalized internal-use software costs (2,919) (502) (387)
(Increase) decrease in restricted deposits 1,660 (10,020) (72)
(Increase) decrease in short-term investments 0 30,000 (29,553)
Payment for business combinations, net of cash acquired (3,787) (9,507) 0
Cash received in relation to business combinations 294 0 0
Purchase of intangible assets 0 (300) 0
Net cash (used in) provided by investing activities (33,009) 7,360 (30,760)
Cash flows from financing activities:      
Proceeds from PPP Loan 0 0 1,759
Repayment of PPP Loan 0 0 (1,759)
Proceeds from exercise of stock options 2,034 1,222 1,442
Proceeds from employee share purchase plan 2,083 0 0
Borrowings under Credit Facility 25,000 30,000 10,000
Repayment of Credit Facility 0 (56,800) 0
Repayment of borrowings assumed in business combinations 0 (112) 0
Proceeds from issuance of Preferred C Shares, net 0 0 39,785
Proceeds from initial public offering, net of underwriting fees, commissions and other issuance costs 0 150,936 0
Net cash provided by financing activities 29,117 125,246 51,227
Effect of exchange rates on cash and cash equivalents (1,112) (45) 202
Net increase (decrease) in cash and cash equivalents (51,069) 104,936 16,909
Cash and cash equivalents, beginning of period 77,810 128,879 23,943
Cash and cash equivalents, end of period 128,879 23,943 7,034
Supplemental disclosure of cash flow information:      
Interest paid (received), net (18) 531 1,148
Taxes paid 485 468 190
Supplemental disclosure of non-cash financing activities:      
Initial public offering costs incurred during the period included in accounts payable and accrued expenses (121) 270 124
Additions to operating lease right-of-use assets and liabilities 9,485 0 0
Deferred costs of property and equipment incurred during the period included in accounts payable 116 0 $ 0
Schedule A : Business combinations      
Working capital deficit, net (excluding cash and cash equivalents) (657) (8,865)  
Cash refund to be received resulting from adjustment to working capital 193 0  
Property, plant and equipment 43 13  
Goodwill and other intangible assets 4,361 20,374  
Deferred taxes, net (153) (2,015)  
Total $ 3,787 $ 9,507