Instructure, Inc.(NYSE:INST) 
Instructure, Inc. provides applications for learning, assessment, and performance management through a software-as-a-service business model worldwide. It develops Canvas, a learning management platform for KÂ12 and higher education; and Bridge, an employee development and engagement platform. The c...
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
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revenue: | ||||||||||||||
subscription and support | 160,193,000 | 157,569,000 | 144,657,000 | 125,357,000 | 123,110,000 | 118,569,000 | 118,480,000 | 114,537,000 | 109,727,000 | 102,905,000 | 103,492,000 | 101,007,000 | 65,968,000 | 65,968,000 |
professional services and other | 12,971,000 | 12,875,000 | 10,798,000 | 10,019,000 | 11,811,000 | 12,501,000 | 10,363,000 | 10,189,000 | 12,702,000 | 11,672,000 | 9,970,000 | 9,586,000 | 5,421,000 | 5,421,000 |
total revenue | 173,164,000 | 170,444,000 | 155,455,000 | 135,376,000 | 134,921,000 | 131,070,000 | 128,843,000 | 124,726,000 | 122,429,000 | 114,577,000 | 113,462,000 | 110,593,000 | 71,389,000 | 71,389,000 |
yoy | 28.34% | 30.04% | 20.65% | 8.54% | 10.20% | 14.39% | 13.56% | 12.78% | 71.50% | 60.50% | ||||
qoq | 1.60% | 9.64% | 14.83% | 0.34% | 2.94% | 1.73% | 3.30% | 1.88% | 6.85% | 0.98% | 2.59% | 54.92% | 0.00% | |
cost of revenue: | ||||||||||||||
total cost of revenue | 58,782,000 | 58,440,000 | 54,353,000 | 47,767,000 | 47,427,000 | 45,289,000 | 45,832,000 | 44,812,000 | 44,073,000 | 42,398,000 | 41,011,000 | 41,790,000 | 24,398,000 | 24,398,000 |
gross profit | 114,382,000 | 112,004,000 | 101,102,000 | 87,609,000 | 87,494,000 | 85,781,000 | 83,011,000 | 79,914,000 | 78,356,000 | 72,179,000 | 72,451,000 | 68,803,000 | 46,991,000 | 46,991,000 |
yoy | 30.73% | 30.57% | 21.79% | 9.63% | 11.66% | 18.84% | 14.58% | 16.15% | 66.75% | 53.60% | ||||
qoq | 2.12% | 10.78% | 15.40% | 0.13% | 2.00% | 3.34% | 3.88% | 1.99% | 8.56% | -0.38% | 5.30% | 46.42% | 0.00% | |
gross margin % | 66.05% | 65.71% | 65.04% | 64.72% | 64.85% | 65.45% | 64.43% | 64.07% | 64.00% | 63.00% | 63.85% | 62.21% | 65.82% | 65.82% |
operating expenses: | ||||||||||||||
sales and marketing | 67,673,000 | 60,970,000 | 59,256,000 | 47,947,000 | 46,734,000 | 52,159,000 | 50,850,000 | 46,801,000 | 45,737,000 | 45,885,000 | 43,321,000 | 41,686,000 | 27,010,000 | 27,010,000 |
research and development | 31,874,000 | 31,240,000 | 27,536,000 | 22,290,000 | 20,688,000 | 21,482,000 | 23,702,000 | 20,723,000 | 20,596,000 | 18,669,000 | 17,201,000 | 16,580,000 | 19,273,000 | 19,273,000 |
general and administrative | 26,719,000 | 20,985,000 | 20,390,000 | 17,148,000 | 15,522,000 | 14,218,000 | 14,373,000 | 16,170,000 | 14,408,000 | 14,253,000 | 15,616,000 | 15,968,000 | 17,295,000 | 17,295,000 |
total operating expenses | 126,266,000 | 113,195,000 | 107,182,000 | 87,385,000 | 82,944,000 | 87,859,000 | 88,925,000 | 83,694,000 | 80,741,000 | 78,807,000 | 76,138,000 | 74,234,000 | 63,578,000 | 63,578,000 |
income from operations | -11,884,000 | -1,191,000 | -6,080,000 | 224,000 | 4,550,000 | -2,078,000 | -5,914,000 | -3,780,000 | -2,385,000 | -6,628,000 | -3,687,000 | -5,431,000 | -16,587,000 | -16,587,000 |
yoy | -361.19% | -42.69% | 2.81% | -105.93% | -290.78% | -68.65% | 60.40% | -30.40% | -85.62% | -60.04% | ||||
qoq | 897.82% | -80.41% | -2814.29% | -95.08% | -318.96% | -64.86% | 56.46% | 58.49% | -64.02% | 79.77% | -32.11% | -67.26% | 0.00% | |
operating margin % | -6.86% | -0.70% | -3.91% | 0.17% | 3.37% | -1.59% | -4.59% | -3.03% | -1.95% | -5.78% | -3.25% | -4.91% | -23.23% | -23.23% |
other income: | ||||||||||||||
interest income | 1,284,000 | 509,000 | 2,508,000 | 2,717,000 | 1,360,000 | 320,000 | 1,341,000 | 1,313,000 | 303,000 | 27,000 | 36,000 | 16,000 | 313,000 | 313,000 |
interest expense | -26,627,000 | -26,413,000 | -22,596,000 | -11,382,000 | -10,868,000 | -10,289,000 | -9,485,000 | -8,258,000 | -7,173,000 | -4,611,000 | -4,553,000 | -6,182,000 | -8,000 | -8,000 |
other income | 2,681,000 | -518,000 | -1,835,000 | 3,133,000 | -2,443,000 | 402,000 | 76,000 | 3,989,000 | -3,856,000 | -3,417,000 | 306,000 | -330,000 | -5,738,000 | -5,738,000 |
loss on extinguishment of debt | -189,000 | |||||||||||||
total other income | -22,662,000 | -26,422,000 | -22,112,000 | -5,532,000 | -11,951,000 | -9,567,000 | -8,068,000 | -2,956,000 | -10,726,000 | -8,001,000 | -4,211,000 | -28,920,000 | -5,433,000 | -5,433,000 |
income before income taxes | -34,546,000 | -27,613,000 | -28,192,000 | -8,257,000 | -7,401,000 | -11,645,000 | -13,982,000 | -8,909,500 | -13,111,000 | -14,629,000 | -7,898,000 | -22,011,750 | -22,020,000 | -22,020,000 |
income tax benefit | 9,850,000 | 6,664,000 | 7,067,000 | -459,000 | 1,920,000 | 672,000 | 2,125,000 | 1,013,000 | 3,056,000 | 1,710,000 | 2,353,000 | 13,697,000 | -183,000 | -183,000 |
net income and comprehensive loss | -24,696,000 | -20,949,000 | -21,125,000 | -5,767,000 | -5,481,000 | -10,973,000 | -11,857,000 | -5,723,000 | -10,055,000 | -12,919,000 | -5,545,000 | -17,006,250 | -22,203,000 | -22,203,000 |
net income per common share, basic and diluted | -170 | -140 | -150 | -40 | -40 | -80 | -80 | -40 | -70 | -90 | -40 | -150 | -580 | -580 |
weighted-average common shares used in computing basic and diluted net income per common share | 146,670,000 | 146,107,000 | 145,455,000 | 144,222,000 | 143,647,000 | 143,112,000 | 142,108,000 | 141,534,000 | 140,952,000 | 38,369,000 | 38,369,000 | |||
impairment on disposal group | ||||||||||||||
impairment on held-for-sale assets | 304,500 | |||||||||||||
impairment on held-for-sale goodwill |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||
current assets: | ||||||||||||||
cash and cash equivalents | 187,512,000 | 137,743,000 | 83,015,000 | 341,047,000 | 304,858,000 | 126,003,000 | 104,758,000 | 185,954,000 | 259,161,000 | 83,234,000 | 100,854,000 | 164,928,000 | 227,487,000 | 70,200,000 |
funds held on behalf of customers | 14,783,000 | 6,470,000 | 5,286,000 | |||||||||||
accounts receivable—net | 98,894,000 | 223,220,000 | 52,273,000 | 67,193,000 | 92,708,000 | 208,366,000 | 63,505,000 | 71,428,000 | 72,332,000 | 167,646,000 | 36,606,000 | 51,607,000 | 54,759,000 | 144,103,000 |
prepaid expenses | 38,630,000 | 53,752,000 | 68,592,000 | 12,082,000 | 18,244,000 | 31,781,000 | 44,427,000 | 11,120,000 | 27,624,000 | 37,941,000 | 51,078,000 | 15,475,000 | 16,831,000 | 22,069,000 |
deferred commissions | 14,644,000 | 15,085,000 | 12,764,000 | 13,705,000 | 14,363,000 | 14,590,000 | 14,482,000 | 13,390,000 | 14,222,000 | 12,374,000 | 11,729,000 | 11,418,000 | 10,193,000 | 8,141,000 |
other current assets | 9,200,000 | 6,658,000 | 4,207,000 | 4,797,000 | 4,125,000 | 3,502,000 | 2,782,000 | 3,144,000 | 3,015,000 | 2,887,000 | 2,759,000 | 3,384,000 | 2,913,000 | 3,513,000 |
total current assets | 363,663,000 | 442,928,000 | 226,137,000 | 438,824,000 | 434,298,000 | 384,242,000 | 229,954,000 | 285,036,000 | 376,354,000 | 304,082,000 | 203,026,000 | 246,812,000 | 312,183,000 | 248,026,000 |
property and equipment | 16,002,000 | 14,905,000 | 14,084,000 | 13,479,000 | 13,656,000 | 12,836,000 | 12,249,000 | 12,380,000 | 12,915,000 | 12,203,000 | 11,115,000 | 10,792,000 | 10,264,000 | 9,953,000 |
right-of-use assets | 8,314,000 | 9,161,000 | 10,021,000 | 9,002,000 | 10,227,000 | 11,272,000 | 12,584,000 | 13,575,000 | 14,537,000 | 15,765,000 | 16,978,000 | 18,175,000 | 19,352,000 | 20,524,000 |
goodwill | 1,909,041,000 | 1,858,136,000 | 1,858,136,000 | 1,265,316,000 | 1,265,316,000 | 1,266,402,000 | 1,266,402,000 | 1,266,402,000 | 1,203,979,000 | 1,203,979,000 | 1,194,221,000 | 1,194,221,000 | 1,186,676,000 | 1,185,820,000 |
intangible assets | 609,983,000 | 611,788,000 | 654,686,000 | 399,712,000 | 435,442,000 | 471,186,000 | 506,930,000 | 542,679,000 | 540,551,000 | 574,812,000 | 596,005,000 | 629,746,000 | 660,030,000 | 693,621,000 |
noncurrent prepaid expenses | 1,905,000 | 2,841,000 | 3,241,000 | 4,182,000 | 5,253,000 | 6,413,000 | 7,427,000 | 871,000 | 993,000 | 1,127,000 | 1,404,000 | 1,553,000 | 2,493,000 | 3,964,000 |
deferred commissions, net of current portion | 14,099,000 | 13,350,000 | 12,865,000 | 13,816,000 | 14,912,000 | 15,759,000 | 16,745,000 | 18,781,000 | 18,634,000 | 18,953,000 | 19,490,000 | 20,105,000 | 18,568,000 | 17,399,000 |
deferred tax assets | 5,624,000 | 6,564,000 | 6,842,000 | 6,739,000 | 8,389,000 | 8,126,000 | 7,925,000 | 8,143,000 | 9,304,000 | 8,561,000 | 7,927,000 | 6,477,000 | ||
other assets | 5,395,000 | 4,530,000 | 5,467,000 | 6,908,000 | 7,710,000 | 5,152,000 | 5,654,000 | 5,622,000 | 5,649,000 | 5,689,000 | 5,979,000 | 5,901,000 | 5,724,000 | 5,528,000 |
total assets | 2,934,026,000 | 2,964,203,000 | 2,791,479,000 | 2,157,978,000 | 2,195,203,000 | 2,181,388,000 | 2,065,870,000 | 2,153,489,000 | 2,182,916,000 | 2,145,171,000 | 2,056,145,000 | 2,133,782,000 | 2,215,290,000 | 2,184,835,000 |
liabilities and stockholders’ equity | ||||||||||||||
current liabilities: | ||||||||||||||
accounts payable | 25,576,000 | 20,075,000 | 12,773,000 | 23,589,000 | 18,539,000 | 13,465,000 | 13,765,000 | 18,792,000 | 19,674,000 | 16,128,000 | 11,881,000 | 18,324,000 | 22,271,000 | 15,008,000 |
customer fund deposits | 14,783,000 | 6,470,000 | 5,286,000 | |||||||||||
accrued liabilities | 36,051,000 | 40,470,000 | 33,576,000 | 23,760,000 | 21,162,000 | 32,020,000 | 26,213,000 | 28,483,000 | 26,563,000 | 23,204,000 | 23,069,000 | 28,408,000 | 24,529,000 | 22,960,000 |
lease liabilities | 5,335,000 | 6,076,000 | 6,837,000 | 7,513,000 | 7,355,000 | 7,167,000 | 7,099,000 | 7,205,000 | 6,956,000 | 6,998,000 | 6,880,000 | 6,666,000 | 6,482,000 | 6,339,000 |
long-term debt, current | 6,525,000 | 76,525,000 | 6,615,000 | 4,013,000 | 4,013,000 | 4,013,000 | 4,013,000 | 4,013,000 | 4,013,000 | 4,013,000 | 4,013,000 | 2,763,000 | 2,235,000 | 5,639,000 |
deferred revenue | 374,431,000 | 330,429,000 | 223,175,000 | 291,784,000 | 334,404,000 | 317,439,000 | 203,231,000 | 275,564,000 | 308,231,000 | 269,655,000 | 175,203,000 | 240,936,000 | 270,421,000 | 237,343,000 |
total current liabilities | 462,701,000 | 480,045,000 | 288,262,000 | 350,659,000 | 385,473,000 | 374,104,000 | 254,321,000 | 334,057,000 | 365,437,000 | 319,998,000 | 221,046,000 | 297,097,000 | 325,938,000 | 287,289,000 |
long-term debt | 1,138,510,000 | 1,140,139,000 | 1,142,090,000 | 482,387,000 | 483,385,000 | 484,382,000 | 485,468,000 | 486,471,000 | 487,490,000 | 488,493,000 | 489,497,000 | 490,500,000 | 514,970,000 | 771,029,000 |
deferred revenue, net of current portion | 9,611,000 | 9,574,000 | 11,825,000 | 10,876,000 | 12,700,000 | 13,299,000 | 12,491,000 | 13,816,000 | 12,632,000 | 13,667,000 | 13,772,000 | 14,740,000 | 16,667,000 | 13,333,000 |
lease liabilities, net of current portion | 9,842,000 | 10,806,000 | 11,795,000 | 9,246,000 | 11,090,000 | 12,897,000 | 14,804,000 | 16,610,000 | 18,045,000 | 19,859,000 | 21,996,000 | 23,678,000 | 25,479,000 | 27,318,000 |
deferred tax liabilities | 45,678,000 | 46,191,000 | 53,246,000 | 14,420,000 | 16,069,000 | 20,279,000 | 21,425,000 | 24,702,000 | 22,614,000 | 26,513,000 | 27,890,000 | 29,851,000 | 38,347,000 | 43,293,000 |
other long-term liabilities | 4,431,000 | 5,747,000 | 5,686,000 | 4,898,000 | 4,226,000 | 1,310,000 | 1,382,000 | 1,706,000 | 1,890,000 | 2,153,000 | 2,418,000 | 3,531,000 | 4,896,000 | 5,375,000 |
total liabilities | 1,670,773,000 | 1,692,502,000 | 1,512,904,000 | 872,486,000 | 912,943,000 | 906,271,000 | 789,891,000 | 877,362,000 | 908,108,000 | 870,683,000 | 776,619,000 | 859,397,000 | 926,297,000 | 1,147,637,000 |
stockholders’ equity: | ||||||||||||||
common stock, par value 0.01 per share... | 1,471,000 | 1,465,000 | 1,459,000 | 1,452,000 | 1,447,000 | 1,440,000 | 1,435,000 | 1,429,000 | 1,425,000 | 1,419,000 | 1,413,000 | 1,407,000 | 1,404,000 | 1,260,000 |
additional paid-in capital | 1,663,532,000 | 1,647,290,000 | 1,633,221,000 | 1,619,020,000 | 1,610,026,000 | 1,597,409,000 | 1,587,303,000 | 1,575,600,000 | 1,568,562,000 | 1,558,193,000 | 1,550,318,000 | 1,539,638,000 | 1,533,595,000 | 1,268,683,000 |
accumulated deficit | -401,750,000 | -377,054,000 | -356,105,000 | -334,980,000 | -329,213,000 | -323,732,000 | -312,759,000 | -300,902,000 | -295,179,000 | -285,124,000 | -272,205,000 | -266,660,000 | -246,006,000 | -232,745,000 |
total stockholders’ equity | 1,263,253,000 | 1,271,701,000 | 1,278,575,000 | 1,285,492,000 | 1,282,260,000 | 1,275,117,000 | 1,275,979,000 | 1,276,127,000 | 1,274,808,000 | 1,274,488,000 | 1,279,526,000 | 1,274,385,000 | 1,288,993,000 | 1,037,198,000 |
total liabilities and stockholders’ equity | 2,934,026,000 | 2,964,203,000 | 2,791,479,000 | 2,157,978,000 | 2,195,203,000 | 2,181,388,000 | 2,065,870,000 | 2,153,489,000 | 2,182,916,000 | 2,145,171,000 | 2,056,145,000 | 2,133,782,000 | 2,215,290,000 | 2,184,835,000 |
assets held for sale | ||||||||||||||
liabilities held for sale |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities: | |||||||||||||
net income | -24,696,000 | -20,949,000 | -21,125,000 | -5,767,000 | -5,481,000 | -10,973,000 | -11,857,000 | -5,723,000 | -10,055,000 | -12,919,000 | -5,545,000 | -68,025,000 | -54,764,000 |
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||
depreciation of property and equipment | 1,481,000 | 1,399,000 | 1,343,000 | 1,305,000 | 1,186,000 | 1,092,000 | 1,203,000 | 1,346,000 | 1,088,000 | 1,053,000 | 1,004,000 | 2,728,000 | 1,818,000 |
amortization of intangible assets | 45,905,000 | 42,898,000 | 43,326,000 | 35,730,000 | 35,744,000 | 35,744,000 | 35,749,000 | 34,522,000 | 34,261,000 | 34,193,000 | 33,741,000 | 100,319,000 | 66,728,000 |
amortization of deferred financing costs | 1,411,000 | 1,426,000 | 1,026,000 | 298,000 | 300,000 | 295,000 | 294,000 | 297,000 | 294,000 | 293,000 | 294,000 | 1,958,000 | 1,218,000 |
stock-based compensation | 14,353,000 | 15,552,000 | 12,445,000 | 10,551,000 | 11,675,000 | 11,676,000 | 9,635,000 | 8,915,000 | 8,699,000 | 8,158,000 | 7,813,000 | 11,532,000 | 4,823,000 |
deferred income taxes | -10,569,000 | -6,777,000 | -7,851,000 | 1,000 | -3,387,000 | -1,347,000 | -3,059,000 | -158,000 | -4,642,000 | -2,011,000 | -3,411,000 | -20,254,000 | -15,402,000 |
non-cash operating lease expense | |||||||||||||
other | -2,301,000 | 820,000 | 1,307,000 | -2,195,000 | 2,669,000 | 3,000 | 181,000 | -1,248,000 | 2,318,000 | 2,959,000 | -360,000 | 1,565,000 | 1,405,000 |
changes in assets and liabilities: | |||||||||||||
accounts receivable—net | 124,499,000 | ||||||||||||
prepaid expenses and other assets | 12,772,000 | 13,679,000 | -52,461,000 | 6,698,000 | 11,430,000 | 12,877,000 | -39,557,000 | 16,881,000 | 10,235,000 | 13,557,000 | -34,733,000 | 80,000 | -6,970,000 |
deferred commissions | -308,000 | -2,806,000 | 1,892,000 | 1,754,000 | 1,074,000 | 878,000 | 944,000 | 685,000 | -1,529,000 | -108,000 | 304,000 | -5,596,000 | -2,375,000 |
accounts payable and accrued liabilities | -571,000 | 14,008,000 | -10,446,000 | 7,576,000 | -5,847,000 | 5,459,000 | -7,177,000 | 168,000 | 6,736,000 | 2,615,000 | -11,746,000 | 8,634,000 | -195,000 |
deferred revenue | 43,312,000 | 105,003,000 | -85,138,000 | -44,444,000 | 16,366,000 | 115,016,000 | -73,658,000 | -38,383,000 | 37,541,000 | 91,781,000 | -66,701,000 | 80,470,000 | 44,058,000 |
lease liabilities | -1,705,000 | -1,750,000 | 1,443,000 | -1,686,000 | -1,619,000 | -1,839,000 | -1,912,000 | -1,474,000 | -1,856,000 | -2,019,000 | -1,468,000 | -4,746,000 | -3,050,000 |
other liabilities | -1,316,000 | 61,000 | -2,019,000 | 672,000 | 2,916,000 | -72,000 | -324,000 | -184,000 | -263,000 | -265,000 | -1,113,000 | -919,000 | -346,000 |
net cash from operating activities | 203,114,000 | -8,108,000 | -92,553,000 | 36,968,000 | 182,808,000 | 25,158,000 | -80,918,000 | 18,797,000 | 179,014,000 | 8,405,000 | -65,945,000 | 108,816,000 | -52,367,000 |
capital expenditures | -2,433,000 | -1,865,000 | -1,881,000 | -1,232,000 | -1,808,000 | -1,573,000 | -1,327,000 | -1,342,000 | -1,564,000 | -2,082,000 | -1,333,000 | -2,800,000 | -1,607,000 |
free cash flows | 200,681,000 | -9,973,000 | -94,434,000 | 35,736,000 | 181,000,000 | 23,585,000 | -82,245,000 | 17,455,000 | 177,450,000 | 6,323,000 | -67,278,000 | 106,016,000 | -53,974,000 |
investing activities: | |||||||||||||
purchases of property and equipment | -2,433,000 | -1,865,000 | -1,881,000 | -1,232,000 | -1,808,000 | -1,573,000 | -1,327,000 | -1,342,000 | -1,564,000 | -2,082,000 | -1,333,000 | -2,800,000 | -1,607,000 |
proceeds from sale of property and equipment | 8,000 | 14,000 | 8,000 | 8,000 | 7,000 | 29,000 | 6,000 | 2,000 | 5,000 | 14,000 | 22,000 | 40,000 | 24,000 |
business acquisitions, net of cash received | -79,823,000 | 0 | -821,739,000 | 0 | -16,886,000 | -16,030,000 | |||||||
net cash from investing activities | -82,248,000 | -1,851,000 | -823,612,000 | -1,224,000 | -1,801,000 | -1,544,000 | -1,321,000 | -90,869,000 | -1,559,000 | -21,552,000 | -1,311,000 | 26,372,000 | 28,405,000 |
financing activities: | |||||||||||||
proceeds from issuance of common stock from employee equity plans | 2,755,000 | 0 | 3,228,000 | -1,000 | 2,723,000 | 0 | 3,295,000 | 0 | 3,251,000 | 0 | 4,076,000 | ||
shares repurchased for tax withholdings on vesting of restricted stock units | -1,075,000 | -1,682,000 | -1,568,000 | -1,681,000 | -1,961,000 | -1,709,000 | -1,279,000 | -1,939,000 | -1,645,000 | -425,000 | -1,263,000 | -1,318,000 | |
proceeds from issuance of term debt, net of discount | 0 | -427,000 | 664,319,000 | ||||||||||
payments for financing costs | 0 | ||||||||||||
advances from revolving credit facility | 0 | ||||||||||||
repayment of advances from revolving credit facility | |||||||||||||
change in customer fund deposits | 6,052,000 | 1,184,000 | -795,000 | ||||||||||
repayments on long-term debt | -2,993,000 | -2,993,000 | -2,993,000 | -1,250,000 | -1,250,000 | -1,250,000 | -1,250,000 | ||||||
net cash from financing activities | -65,261,000 | 66,082,000 | 662,191,000 | -2,932,000 | -488,000 | -3,043,000 | 766,000 | -3,208,000 | 356,000 | -1,675,000 | 2,813,000 | -54,353,000 | -52,457,000 |
foreign currency impacts on cash, cash equivalents, restricted cash, and funds held on behalf of customers | 2,477,000 | -211,000 | -979,000 | ||||||||||
net increase in cash, cash equivalents, restricted cash, and funds held on behalf of customers | |||||||||||||
cash, cash equivalents, restricted cash, and funds held on behalf of customers, beginning of period | 0 | 0 | 344,208,000 | ||||||||||
cash, cash equivalents, restricted cash, and funds held on behalf of customers, end of period | 58,082,000 | 55,912,000 | 89,255,000 | ||||||||||
supplemental cash flow disclosure: | |||||||||||||
cash paid for taxes | 939,000 | 2,033,000 | 1,015,000 | 98,000 | 838,000 | 1,638,000 | 181,000 | 68,000 | 259,000 | 2,706,000 | 69,000 | 556,000 | 403,000 |
cash paid for interest on outstanding debt | 25,725,000 | ||||||||||||
non-cash investing and financing activities: | |||||||||||||
capital expenditures incurred but not yet paid | 67,000 | -188,000 | 231,000 | -73,000 | -63,000 | -48,000 | 186,000 | 47,000 | -169,000 | 70,000 | 119,000 | 62,000 | 65,000 |
right-of-use assets | 860,000 | -644,000 | 1,225,000 | 1,045,000 | 1,312,000 | 991,000 | 1,250,000 | 1,228,000 | 1,213,000 | 1,197,000 | 7,552,000 | 6,380,000 | |
net decrease in cash, cash equivalents, restricted cash, and funds held on behalf of customers | 55,912,000 | -254,953,000 | |||||||||||
accounts receivable | 24,349,000 | 25,250,000 | 114,737,000 | -144,963,000 | 7,629,000 | 1,903,000 | 94,959,000 | -130,095,000 | 14,779,000 | -7,700,000 | -96,913,000 | ||
interest paid | 15,446,000 | 10,975,000 | 13,781,000 | 9,578,000 | 8,096,000 | 8,123,000 | 4,184,000 | 4,342,000 | 1,424,000 | 42,302,000 | 31,749,000 | ||
impairment on disposal group | 1,218,000 | ||||||||||||
loss on extinguishment of debt | |||||||||||||
proceeds from sale of bridge | 46,018,000 | 46,018,000 | |||||||||||
business acquisitions, net of cash acquired | |||||||||||||
ipo proceeds, net of offering costs paid of 6,068 | |||||||||||||
distributions to stockholders | -930,000 | -923,000 | |||||||||||
repayments of long-term debt | -307,882,000 | -51,534,000 | |||||||||||
term loan prepayment premium | -3,827,000 | ||||||||||||
payments of financing costs | |||||||||||||
foreign currency impacts on cash and cash equivalents | |||||||||||||
net increase in cash, cash equivalents and restricted cash | |||||||||||||
cash, cash equivalents and restricted cash, beginning of period | |||||||||||||
cash, cash equivalents and restricted cash, end of period | |||||||||||||
foreign currency impacts on cash, cash equivalents, and restricted cash | -1,703,000 | 156,000 | 301,000 | -1,965,000 | -2,881,000 | 590,000 | |||||||
net increase in cash, cash equivalents, and restricted cash | 80,835,000 | ||||||||||||
cash, cash equivalents, and restricted cash, beginning of period | 0 | 0 | 190,266,000 | 0 | 0 | 169,152,000 | 150,953,000 | 150,953,000 | |||||
cash, cash equivalents, and restricted cash, end of period | 178,816,000 | 20,727,000 | 109,094,000 | 175,846,000 | -17,703,000 | 105,299,000 | 231,788,000 | 74,534,000 | |||||
net decrease in cash, cash equivalents, and restricted cash | 20,727,000 | -81,172,000 | -17,703,000 | -63,853,000 | |||||||||
impairment on held-for-sale goodwill | |||||||||||||
maturities of marketable securities | |||||||||||||
ipo proceeds, net of offering costs paid of 5,719 | 259,604,000 | ||||||||||||
proceeds from contributions from stockholders | |||||||||||||
repurchase of topco units | |||||||||||||
purchases of marketable securities | |||||||||||||
sale of marketable securities | |||||||||||||
issuance of common stock for acquisitions | |||||||||||||
consideration not yet paid in connection with the acquisition of portfolium | |||||||||||||
loss on disposition | 1,218,000 | ||||||||||||
shares repurchased for tax withholdings on vesting of restricted stock | |||||||||||||
net increase in cash and cash equivalents | -76,419,000 |