Annual report pursuant to Section 13 and 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 $ (31,031) $ (49,738) $ (51,690)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities      
Depreciation and amortization 12,001 12,964 12,140
Amortization of operating right-of-use assets 3,831 3,681  
Provision for losses on accounts receivable 1,164 729 355
Amortization of deferred contract costs 12,171 11,120 9,410
Loss on disposal of assets 16 4 0
Stock-based compensation 22,823 18,752 14,091
Net accretion of discounts on short-term investments (2,668) (413) 0
Changes in operating assets and liabilities:      
Accounts receivable (1,379) (966) (870)
Deferred contract costs (13,313) (12,343) (12,828)
Prepaid expenses and other assets (680) (93) (4,073)
Accounts payable 1,323 (330) 583
Accrued liabilities 4,855 1,786 1,564
Operating lease liabilities (3,714) (2,534)  
Deferred revenue 4,822 4,615 6,627
Deferred rent     4,318
Net cash provided by (used in) operating activities 10,221 (12,766) (20,373)
CASH FLOWS FROM INVESTING ACTIVITIES      
Maturities of short-term investments 62,150 0 0
Purchases of short-term investments (66,199) (50,915) 0
Proceeds from sale of assets 0 16 0
Purchases of property and equipment (1,691) (1,895) (7,376)
Capitalized internal-use software costs (1,999) (1,232) (2,433)
Net cash used in investing activities (7,739) (54,026) (9,809)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from advance on line of credit 0 0 6,000
Principal payments on line of credit (10,000) 0 0
Principal payments on finance leases (7,530) (8,709) (7,860)
Proceeds from stock option exercises 12,866 1,315 4,166
Payments for taxes related to net share settlement of equity awards (10,388) 0 0
Proceeds from initial public offering, net of underwriting discounts 0 0 111,600
Paid offering costs 0 (671) (3,426)
Proceeds from the employee stock purchase plan 1,329 858 0
Net cash provided by (used in) financing activities (13,723) (7,207) 110,480
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (11,241) (73,999) 80,298
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 61,997 135,996 55,698
CASH AND CASH EQUIVALENTS, END OF PERIOD 50,756 61,997 135,996
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid during the period for interest 1,923 1,441 1,184
Cash paid during the period for income taxes 260 104 0
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:      
Equipment purchases financed with accounts payable 52 13 78
Finance lease liabilities arising from obtaining finance lease right-of-use assets 7,183 6,655  
Finance lease liabilities arising from obtaining finance lease right-of-use assets     8,461
Operating lease liabilities arising from obtaining operating lease right-of-use assets 154 309 0
Accrued unpaid offering costs 0 0 400
Unrealized gain (loss) on short-term investments $ 31 $ 12 $ 0