|
MATTERPORT, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands, unaudited) | |||||||
|
Six Months Ended June 30,
| |||||||
| 2024 | 2023 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
| Net loss | $ | (177,714 | ) | $ | (110,378 | ) | |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||||||
| Depreciation and amortization | 11,393 | 9,102 | |||||
| Accretion of discounts, net of amortization of investment premiums | (5,412 | ) | (2,319 | ) | |||
| Stock-based compensation, net of amounts capitalized | 56,429 | 63,253 | |||||
| Change in fair value of warrants liability | 1,064 | (51 | ) | ||||
| Deferred income taxes | — | (185 | ) | ||||
| Allowance for doubtful accounts | 265 | 49 | |||||
| Loss from excess inventory and purchase obligation | — | 1,592 | |||||
| Other | 276 | (225 | ) | ||||
| Changes in operating assets and liabilities, net of effects of businesses acquired: | |||||||
| Accounts receivable | (602 | ) | 2,146 | ||||
| Inventories | 350 | (5,787 | ) | ||||
| Prepaid expenses and other assets | 1,684 | 4,252 | |||||
| Accounts payable | 2,086 | (169 | ) | ||||
| Deferred revenue | 3,298 | 4,925 | |||||
| Accrued expenses and other liabilities | 95,113 | 956 | |||||
| Net cash used in operating activities | (11,770 | ) | (32,839 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (72 | ) | (101 | ) | |||
| Capitalized software and development costs | (4,490 | ) | (5,248 | ) | |||
| Purchase of investments | (127,448 | ) | (251,603 | ) | |||
| Maturities of investments | 186,106 | 254,601 | |||||
| Business acquisitions, net of cash acquired | — | (1,676 | ) | ||||
| Net cash provided by (used in) investing activities | 54,096 | (4,027 | ) | ||||
| CASH FLOW FROM FINANCING ACTIVITIES: | |||||||
| Proceeds from the sales of shares through employee equity incentive plans | 1,332 | 2,195 | |||||
| Payments for taxes related to net settlement of equity awards | — | (329 | ) | ||||
| Net cash provided by financing activities | 1,332 | 1,866 | |||||
| Net change in cash and cash equivalents | 43,658 | (35,000 | ) | ||||
| Effect of exchange rate changes on cash | (276 | ) | 188 | ||||
| Cash and cash equivalents, at beginning of year | 82,902 | 117,128 | |||||
| Cash and cash equivalents, at end of period | $ | 126,284 | $ | 82,316 | |||
