Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (19,709,000) $ (1,117,000)
Adjustments:    
Depreciation and amortization 16,682,000 12,932,000
Amortization of loan costs 68,000 196,000
Stock-based compensation expense 10,008,000 2,929,000
Change in fair value of warrant liabilities 3,537,000 (110,000)
Asset impairments 8,353,000 0
Deferred income tax expense (4,567,000) (2,290,000)
Other (120,000) 131,000
Changes in operating assets and liabilities    
Receivables 2,429,000 (9,270,000)
Prepaid expenses and other current assets 2,480,000 (3,495,000)
Income tax receivable 262,000 5,189,000
Accounts payable & accrued liabilities 1,912,000 9,836,000
Other (393,000) 206,000
Net cash provided by operating activities 20,942,000 15,137,000
Cash flows from investing activities:    
Purchase of property and equipment (4,028,000) (491,000)
Additions to internal-use software (10,403,000) (13,153,000)
Additions to notes receivable and other investments 0 (7,533,000)
Proceeds from notes receivable 2,348,000 0
Net cash used in investing activities (12,083,000) (21,177,000)
Cash flows from financing activities:    
Proceeds from stock option exercises 689,000 1,899,000
Payment for tender offer of warrants (1,792,000) 0
Net proceeds from Business Combination 0 185,722,000
Other 0 (406,000)
Net cash (used in) provided by financing activities (1,103,000) 187,215,000
Foreign currency translation (620,000) (201,000)
Net change in cash and cash equivalents 7,136,000 180,974,000
Cash and cash equivalents at beginning of period 213,502,000 48,927,000
Cash and cash equivalents at end of period 220,638,000 229,901,000
Supplemental cash flow disclosures:    
Interest paid 73,000 53,000
Income taxes paid, net of refunds 72,000 465,000
Non-cash investing and financing activities:    
Capitalization of stock-based compensation 1,537,000 320,000
Additions to other investments 1,000,000 0
Increase in property and equipment included in accounts payable and other long-term liabilities 824,000 0
Reduction of notes receivable in exchange for internal-use software 0 1,495,000
Settlement of MGM Profit Share liability through the issuance of shares of Class A common stock $ 0 $ 20,000,000