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MATTERPORT, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands, unaudited) | |||||||
| Three Months Ended March 31, | |||||||
| 2024 | 2023 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
| Net loss | $ | (36,128 | ) | $ | (53,842 | ) | |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||||||
| Depreciation and amortization | 5,576 | 4,391 | |||||
| Accretion of discounts, net of amortization of investment premiums | (2,919 | ) | (681 | ) | |||
| Stock-based compensation, net of amounts capitalized | 27,951 | 31,074 | |||||
| Change in fair value of warrants liability | 120 | (222 | ) | ||||
| Deferred income taxes | — | (184 | ) | ||||
| Allowance for doubtful accounts | (241 | ) | 289 | ||||
| Loss from excess inventory and purchase obligation | — | 622 | |||||
| Other | 154 | (381 | ) | ||||
| Changes in operating assets and liabilities, net of effects of businesses acquired: | |||||||
| Accounts receivable | (1,308 | ) | (1,261 | ) | |||
| Inventories | 658 | (3,258 | ) | ||||
| Prepaid expenses and other assets | 481 | 1,308 | |||||
| Accounts payable | (657 | ) | (2,287 | ) | |||
| Deferred revenue | 2,672 | 1,841 | |||||
| Accrued expenses and other liabilities | (202 | ) | 2,193 | ||||
| Net cash used in operating activities | (3,843 | ) | (20,398 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (43 | ) | (87 | ) | |||
| Capitalized software and development costs | (2,169 | ) | (2,567 | ) | |||
| Purchase of investments | (99,609 | ) | (57,577 | ) | |||
| Maturities of investments | 102,106 | 108,806 | |||||
| Business acquisitions, net of cash acquired | — | (1,676 | ) | ||||
| Net cash provided by investing activities | 285 | 46,899 | |||||
| CASH FLOW FROM FINANCING ACTIVITIES: | |||||||
| Proceeds from the sales of shares through employee equity incentive plans | 259 | 686 | |||||
| Payments for taxes related to net settlement of equity awards | — | (329 | ) | ||||
| Net cash provided by financing activities | 259 | 357 | |||||
| Net change in cash and cash equivalents | (3,299 | ) | 26,858 | ||||
| Effect of exchange rate changes on cash | (154 | ) | 329 | ||||
| Cash and cash equivalents, at beginning of year | 82,902 | 117,128 | |||||
| Cash and cash equivalents, at end of period | $ | 79,449 | $ | 144,315 | |||
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