7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 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 2021-03-31 
      
    		                   
      cash flows used in operating activities:
    		                   
      net income
    		-109,271,000 -74,724,000 129,932,000 -258,599,000 -21,751,000 -37,322,000 -33,009,000 -18,003,000 -22,633,000 -21,932,000 -26,369,000 -30,680,000 -28,922,000 -55,385,550 -385,450 -981,884 -345,648 -154,573 -84,033 
      adjustments to reconcile net income to net cash from operating activities:
    		                   
      depreciation and amortization
    		8,557,000 7,774,000 7,755,000 7,939,000 5,365,000 1,280,000 1,470,000 372,000 530,000 703,000 708,000 840,000 928,000       
      stock-based compensation
    		19,706,000 23,810,000 17,440,000 9,853,000 9,060,000 7,253,000 6,979,000 7,292,000 6,692,000 5,698,000 8,249,000 9,292,000 9,173,000       
      amortization of debt issuance cost
    		   35,000 62,000 293,000 1,231,000    16,000  52,000       
      loss on disposal of property and equipment
    		0 11,000 31,000                 
      non-cash lease amortization
    		753,000 724,000 664,000 395,000 773,000 702,000 743,000    894,000 1,021,000 623,000       
      amortization of capitalized commissions
    		                   
      foreign currency gain/income from remeasurement
    		316,000 -711,000 -160,000 73,000 -27,000 -15,000 -55,000             
      change in fair value of contingent acquisition liabilities
    		66,245,000 31,359,000 -176,100,000 220,946,000 -1,356,000 -1,082,000 4,162,000             
      change in fair value of derivative
    		-5,096,000 -890,000 -1,289,000                 
      loss on early extinguishment of debt
    		   42,000 0               
      deferred income taxes
    		  -1,000 -689,000 -11,126,000 -87,000 -281,000             
      other
    		1,121,000 1,094,000 903,000 -1,213,000 1,524,000 -936,000 45,000             
      changes in operating assets and liabilities:
    		                   
      accounts receivable
    		4,871,000 36,000 2,347,000 -9,017,000 -1,458,000 1,459,000 -1,248,000 -665,000 156,000 -872,000 754,000 -625,000 -1,774,000       
      other current assets
    		-1,344,000 -2,457,000 -239,000 -82,000 -1,623,000 -893,000 -533,000 -205,000 18,000 -424,000 -210,000 297,000 12,000       
      contract assets
    		-9,229,000 -12,130,000 5,816,000 -286,000 -4,751,000 -3,206,000 939,000 -9,591,000 -7,907,000 -2,206,000 126,000 -2,482,000        
      other non-current assets
    		-1,634,000 -665,000 -1,181,000 1,002,000 -356,000 -935,000 93,000 -19,000 62,000 609,000 19,000         
      accounts payable
    		-6,331,000 3,416,000 1,151,000 -8,459,000 -1,118,000 1,036,000 905,000 -527,000 268,000 -647,000 -256,000 -96,000 -1,448,000       
      accrued liabilities
    		4,881,000 2,193,000 -8,403,000 3,904,000 -1,433,000 48,000 -673,000 2,360,000 -3,139,000 739,000 4,306,000 -1,324,000 1,332,000 -147,203 255,203     
      other current liabilities
    		-261,000 -1,900,000 -581,000 -973,000                
      operating lease liabilities
    		-613,000 -523,000 -836,000 -602,000 -892,000 -832,000 -888,000 -885,000 -862,000 -947,000 -963,000 -827,000 -827,000       
      deferred revenue
    		-7,852,000 -4,558,000 3,667,000 2,807,000 -6,470,000 -917,000 -1,606,000 1,397,000 -907,000 -2,022,000 -2,603,000 -831,000 -1,453,000       
      other non-current liabilities
    		1,537,000 3,643,000 -101,000 -199,000 -69,000 75,000 -222,000  2,089,000 -291,000 -1,000         
      net cash from operating activities
    		-32,654,000 -24,497,000 -19,185,000 -33,123,000 -35,315,000 -18,492,000 -21,948,000 -13,870,000 -20,744,000 -19,184,000 -14,467,000 -20,414,000 -26,838,000 -46,549,834 -217,166 -864,358 -471,001 -296,147 -185,958 
      capex
    		-172,000 -192,000 -162,000 -80,000 -225,000 -236,000 -99,000 -58,000 -41,000 -278,000 -15,000 -141,000 -206,000 0 0 0 0 0 0 
      free cash flows
    		-32,826,000 -24,689,000 -19,347,000 -33,203,000 -35,540,000 -18,728,000 -22,047,000 -13,928,000 -20,785,000 -19,462,000 -14,482,000 -20,555,000 -27,044,000 -46,549,834 -217,166 -864,358 -471,001 -296,147 -185,958 
      cash flows used in investing activities:
    		                   
      purchases of property and equipment
    		-172,000 -192,000 -162,000 -80,000 -225,000 -236,000 -99,000 -58,000 -41,000 -278,000 -15,000 -141,000 -206,000       
      capitalized software development costs
    		                   
      payment related to acquisitions, net of cash acquired
    		   0 -7,279,000               
      net cash from investing activities
    		-56,611,000 -192,000 -162,000 -80,000 -7,504,000 -1,000,000 -3,788,000 -58,000 -41,000 -278,000 -15,000 -141,000 -206,000   -133,000,000 -133,000,000 -133,000,000 -133,000,000 
      cash flows from financing activities:
    		                   
      proceeds from sales of class a common stock under the sales agreement, equity distribution agreement, and second equity distribution agreement
    		125,954,000                   
      proceeds from exercise of stock options and employee stock purchase plan
    		4,467,000 2,100,000 666,000 18,621,000 436,000               
      proceeds from warrants exercised
    		16,000 0 13,000                 
      payment of financing costs associated with the sales agreement, equity distribution agreement, and second equity distribution agreement
    		-2,519,000                   
      payments on term loan and amelia debt
    		                   
      payment to settle contingent holdback liabilities from synq3 acquisition
    		0                   
      payments on finance leases
    		-10,000 -8,000 -21,000 -36,000 -31,000 -30,000 -28,000 -43,000 -42,000 -35,000 -39,000 -57,000 -230,000       
      net cash from financing activities
    		127,908,000 9,596,000 67,010,000 95,461,000 -21,585,000 -5,668,000 142,698,000 13,062,000 1,167,000 102,440,000 51,568,000 -3,612,000 -4,554,000   134,099,653 134,099,653 134,099,653 134,149,653 
      effects of exchange rate changes on cash
    		-47,000 -116,000 -94,000 241,000 -146,000 27,000 103,000             
      net change in cash, cash equivalents, and restricted cash equivalents
    		38,596,000 -15,209,000 47,569,000 62,499,000 -64,550,000 -25,133,000 117,065,000 -886,000 -19,618,000 82,978,000 37,086,000 -24,167,000        
      cash, cash equivalents, and restricted cash equivalents, beginning of period
    		0 0 198,916,000  0 0 109,035,000  0 0 9,475,000  0       
      cash, cash equivalents, and restricted cash equivalents, end of period
    		38,596,000 -15,209,000 246,485,000  -64,550,000 -25,133,000 226,100,000  -19,618,000 82,978,000 46,561,000  -31,598,000       
      payment related to acquisition, net of cash acquired
    		                   
      payments on notes payable
    		         -30,909,000 -4,120,000 -4,095,000 -4,034,000       
      proceeds from sales of class a common stock under the sales agreement and second equity distribution agreement
    		  67,707,000                 
      payment of financing costs associated with the sales agreement and second equity distribution agreement
    		  -1,355,000                 
      cash flows from operating activities:
    		                   
      loss on change in fair value of eloc program
    		       0            
      change in fair value of derivative and warrant liability
    		           0 0       
      prepaid expenses
    		       1,435,000 214,000 -922,000 863,000 1,260,000 911,000 -3,428,500 19,500 -98,066 -134,478 -147,007 -165,713 
      cash flows from investing activities:
    		                   
      proceeds from the issuance of series a preferred stock, net of issuance costs
    		         0 24,942,000         
      proceeds from sales of class a common stock under the eloc program, net of issuance costs
    		                   
      proceeds from sales of class a common stock under the sales agreement, equity distribution agreement and execute equity distribution agreement
    		                   
      payment of financing costs associated with the sales agreement, equity distribution agreement and execute equity distribution agreement
    		                   
      proceeds from the issuance of debt, net of issuance costs
    		                   
      proceeds from the issuance of common stock
    		       532,000 660,000           
      proceeds from business combination and pipe, net of transaction costs
    		           0 -1,006,000       
      payment to settle contingent holdback liabilities from synq3 and other acquisitions
    		                   
      cash, cash equivalents, and restricted cash equivalents, beginning of year
    		                   
      cash, cash equivalents, and restricted cash equivalents, end of year
    		                   
      proceeds from sales of class a common stock under the sales agreement and equity distribution agreement
    		    49,632,000               
      payment of financing costs associated with the sales agreement and equity distribution agreement
    		    -1,543,000               
      proceeds from the issuance of long-term debt, net of issuance costs
    		        0           
      acquisition of synq3, net of cash acquired
    		      -3,689,000             
      proceeds from sales of class a common stock under the sales agreement
    		      137,274,000             
      proceeds from the issuance of class a common stock upon exercise of options
    		      8,887,000             
      payment of financing costs associated with eloc program
    		                   
      payment of financing costs associated with the sales agreement
    		      -3,435,000             
      amortization of debt issuance costs
    		                   
      loss on debt extinguishment
    		       0 0           
      other liabilities
    		            795,000       
      proceeds from sales of common stock under the eloc program, net of issuance cost
    		                   
      proceeds from sales of common stock under the sales agreement
    		                   
      proceeds from issuance of debt, net of issuance costs
    		                   
      reconciliation to amounts on the consolidated balance sheets:
    		                   
      cash and cash equivalents
    		          46,331,000 -24,167,000 -31,598,000       
      current portion of restricted cash equivalents
    		                   
      non-current portion of restricted cash equivalents
    		          230,000 0 0       
      total cash, cash equivalents, and restricted cash equivalents shown in the consolidated statements of cash flows
    		                   
      non-cash interest expense
    		        1,925,000           
      non-cash lease expense
    		        669,000           
      other non-cash losses
    		        180,000           
      proceeds from the issuance of series a preferred stock
    		                   
      proceeds from sales of common stock under the eloc program, net of transaction costs
    		                   
      payments on long-term debt
    		                   
      supplemental disclosures of cash flow information:
    		                   
      cash paid for interest
    		        3,601,000 3,270,000 1,074,000 2,062,000        
      cash paid for income taxes
    		        547,000 548,000 550,000 257,000        
      noncash investing and financing activities:
    		                   
      non-cash debt discount
    		        -179,000           
      conversion of series a preferred stock to common stock
    		                   
      issuance of common stock to settle commitment shares related to the eloc program
    		                   
      conversion of convertible note into common stock pursuant to business combination
    		           0 0       
      conversion of redeemable convertible preferred stock to common stock pursuant to business combination
    		           0 0       
      operating lease liabilities arising from obtaining right-of-use assets
    		           0 0       
      proceeds from sales of common stock under the eloc program, net of issuance costs
    		         42,545,000 28,360,000         
      accrued and unpaid debt issuance costs
    		                   
      deferred offering costs reclassified to additional paid-in capital
    		         479,000 323,000         
      unpaid deferred offering costs associated with the business combination
    		                   
      proceeds from the issuance of common stock upon exercise of options
    		          2,425,000 540,000 716,000       
      reconciliation to amounts on the condensed consolidated balance sheets:
    		                   
      total cash, cash equivalents, and restricted cash equivalents shown in the condensed consolidated statements of cash flows
    		          46,561,000  -31,598,000       
      unpaid issuance costs in connection with the eloc program
    		          437,000         
      proceeds from issuance of convertible notes, net of issuance costs
    		                   
      proceeds from note payable, net of issuance costs
    		                   
      operating lease liabilities and right-of-use assets through adoption of asc 842
    		                   
      property and equipment acquired under finance leases or debt
    		                   
      debt discount through issuance of common stock warrants
    		                   
      issues of series c redeemable convertible preferred stock for exercise of warrants
    		                   
      other assets
    		            -64,000       
      proceeds from issuance of convertible notes, net of issuance cost
    		                   
      proceeds from note payable, net of issuance cost
    		                   
      noncash investing and financing activities
    		                   
      net increase in cash, cash equivalents, and restricted cash equivalents
    		                   
      cash paid for:
    		                   
      interest
    		                   
      income taxes
    		                   
      adjustments to reconcile net income to net cash from operating activities
    		                   
      unrealized (gain) loss on change in fair value of warrants
    		              -92,746     
      interest earned on marketable securities held in trust account
    		              -11,857 -10,583 -7,230 -3,878 -525 
      changes in current assets and current liabilities:
    		                   
      due to related party
    		              -1,816 1,100 -716 9,284 6,381 
      investment held in trust account
    		               -133,000,000 -133,000,000 -133,000,000 -133,000,000 
      proceeds from ipo and over-allotment
    		               133,000,000 133,000,000 133,000,000  
      payment of underwriting fees
    		               -2,660,000 -2,660,000 -2,660,000  
      proceeds from private placement
    		               4,160,000 4,160,000 4,160,000 4,160,000 
      proceeds from issuance of promissory note to related party
    		               125,000 125,000 125,000 125,000 
      payment to promissory note to related party
    		               -125,000 -125,000 -125,000 -125,000 
      proceeds from issuance of common stock to initial stockholders
    		               25,000 25,000 25,000 25,000 
      payment of deferred offering costs
    		               -425,347 -425,347 -425,347 -375,347 
      net change in cash
    		              -217,166 235,295 628,652 803,506 963,695 
      cash, beginning of the period
    		              235,295     
      cash, end of the period
    		              18,129  628,652 803,506 963,695 
      supplemental disclosure of cash flow information
    		                   
      initial value of common stock subject to possible redemption
    		               124,413,913 124,413,913 124,413,913 115,841,700 
      reclassification of offering costs related to public shares
    		               -4,779,936 -2,886,166 -2,886,166  
      accretion of common stock to redemption value
    		              11,857 13,366,023    
      forfeiture of founder shares
    		               13 13 13 13 
      initial classification of warrant liability
    		               270,307 270,307 270,307 270,307 
      deferred offering costs included in accrued expenses
    		                   
      ●
    		                   
      unrealized gain on change in fair value of warrants
    		               -22,793 -108,948 -73,891  
      accrued expenses
    		               247,868    
      cash, beginning of the year
    		                   
      cash, end of the year
    		               235,295    
      audited balance sheet at march 15, 2021
    		                   
      warrant liabilities
    		                   
      total liabilities
    		               591,387   591,387 
      common stock subject to possible redemption
    		               116,095,120 116,095,120 116,095,120 116,095,120 
      common stock
    		               465 465 465 465 
      additional paid-in capital
    		               5,004,068 5,004,068 5,004,068  
      total stockholder’s equity
    		               5,000,003    
      unaudited balance sheet at march 31, 2021
    		                   
      unaudited statement of operations for the three months ended march 31, 2021
    		                   
      basic and diluted weighted-average shares outstanding, common stock subject to redemption
    		               2,059,408 2,059,408 2,059,408  
      basic and diluted weighted-average shares outstanding, common stock
    		               3,856,614 3,856,614 3,856,614  
      basic and diluted net income per share, common stock subject to redemption
    		               0 0 0  
      basic and diluted net income per share, common stock not subject to redemption
    		               -0.02 -0.02 -0.02  
      accrued offering costs and expenses
    		                126,019 73,918 54,815 
      subsequent measurement of common stock subject to redemption
    		                11,472,253 11,472,253  
      balance sheet at march 15, 2021
    		                   
      balance sheet at march 31, 2021
    		                   
      statement of operations for the three months ended march 31, 2021
    		                   
      statement of cash flows for the three months ended march 31, 2021
    		                   
      change in value of common stock subject to possible redemption
    		                12,902,890 12,902,890 12,902,890 
      unrealized loss on change in fair value of warrants
    		                  3,117 
      proceeds from ipo and over-allotment, net of underwriters’ fees
    		                  130,340,000 
      deferred offering costs included in accrued offering costs and expenses
    		                  50,000 
      as of march 15, 2021
    		                   
      balance sheet
    		                   
      additional paid in capital
    		                  5,004,068 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.