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 ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 10,119 $ 23,571
Adjustments:    
Depreciation and amortization 20,145 16,405
Amortization of loan costs 295 0
Stock-based compensation expense 3,680 2,624
Change in fair value of warrant liabilities (11,986) 0
Deferred income tax expense (3,070) (771)
Other 1,517 (53)
Receivables (1,588) (9,323)
Prepaid expenses and other current assets (3,679) 337
Income tax receivable (3,512) 0
Accounts payable & accrued liabilities 5,684 1,688
Other 3,158 (761)
Net cash provided by operating activities 20,763 33,717
Cash flows from investing activities:    
Purchase of property and equipment (1,241) (1,457)
Additions to internal-use software (19,540) (18,116)
Additions to notes receivable and other investments (9,533) 0
Net cash used in investing activities (30,314) (19,573)
Cash flows from financing activities:    
Proceeds from stock option exercises 2,091 622
Repurchases of common stock for retirement 0 (2,540)
Net proceeds from Business Combination 185,311 0
Other (690) (481)
Net cash provided by financing activities 186,712 (2,399)
Foreign currency translation (113) 49
Net change in cash and cash equivalents 177,048 11,794
Cash and cash equivalents at beginning of period 48,927 31,022
Cash and cash equivalents at end of period 225,975 42,816
Supplemental cash flow disclosures:    
Interest paid 53 27
Income taxes paid, net of refunds 818 4,498
Non-cash investing and financing activities:    
Capitalization of stock-based compensation 502 375
Reduction of notes receivable in exchange for internal-use software 1,754 0
Settlement of MGM Profit Share liability through the issuance of shares of Class A common stock $ 20,000 $ 0