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 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 
      
    		                            
      cash flows from operating activities:
    		                            
      net income
    		29,335,000 32,726,000 37,730,000 147,166,000 27,758,000 22,220,000 18,442,000 17,374,000 16,337,000 -3,991,000 17,167,000 -16,500,000 -24,827,000 -23,820,000 -24,738,000 -22,556,000 -9,311,000 -16,538,000 -7,835,000 925,000 -2,747,000 -11,024,000 -10,021,000 -7,077,000 -2,827,000 -2,027,000 -4,728,000 -5,365,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                            
      benefit from transaction losses
    		2,113,000 1,528,000 2,066,000 1,972,000 1,100,000 1,637,000 796,000 1,867,000 1,364,000 1,730,000 3,712,000 4,894,000 10,102,000 6,391,000 1,919,000 2,174,000 1,097,000 1,006,000 901,000 265,000 1,048,000 839,000 767,000 1,040,000 1,040,000 623,000 415,000 498,000 
      depreciation and amortization
    		7,946,000 5,879,000 4,861,000 4,370,000 3,668,000 3,629,000 3,146,000     2,050,000 1,982,000 2,016,000 2,009,000 2,074,000 2,439,000 2,554,000 3,194,000 2,728,000 2,658,000 2,478,000 2,308,000 2,163,000 1,671,000 1,295,000 1,532,000 1,407,000 
      amortization of debt issuance costs
    		460,000 461,000 460,000 461,000 460,000 461,000 460,000 461,000 460,000 461,000 716,000 740,000 740,000 741,000 740,000 741,000 402,000 20,000 19,000 18,000 17,000 13,000 13,000 13,000 13,000 13,000 13,000 13,000 
      accretion of discount on purchases of marketable securities
    		-2,195,000 -1,561,000 -1,943,000 -1,480,000 -2,272,000 -3,283,000 -4,876,000                      
      amortization of operating lease asset
    		179,000 183,000 202,000 409,000 722,000 859,000 847,000 834,000 824,000 811,000 800,000 784,000 777,000 767,000 751,000 833,000 938,000 863,000 911,000 933,000 982,000 976,000 969,000      
      tides foundation common stock warrant expense
    		188,000 187,000 188,000 187,000 188,000 187,000 188,000 187,000 188,000 187,000 188,000 187,000 188,000 187,000 188,000 187,000 188,000 187,000 188,000 186,000 188,000 188,000 188,000      
      stock-based compensation expense
    		19,789,000 15,977,000 12,272,000 13,633,000 18,578,000 19,238,000 16,942,000 18,047,000 17,811,000 18,437,000 19,900,000 19,382,000 20,404,000 18,980,000 16,735,000 14,926,000 13,906,000 13,534,000 11,226,000 5,981,000 6,856,000 7,134,000 5,537,000 7,940,000 3,932,000 2,631,000 4,295,000 4,694,000 
      deferred taxes
    		-2,463,000                            
      changes in operating assets and liabilities:
    		                            
      trade and client receivables
    		-2,014,000 3,895,000 -3,535,000 -34,659,000 46,015,000 -3,769,000 -12,389,000 -45,025,000 4,319,000 -8,947,000 1,990,000 -2,466,000 -6,903,000 -13,851,000 2,990,000 -10,643,000 2,868,000 -11,251,000 -5,584,000 -7,510,000 -7,717,000 1,118,000 -5,891,000 967,000 18,403,000 -3,857,000 -26,431,000 18,643,000 
      prepaid expenses and other assets
    		3,378,000 -40,000 -3,298,000 1,812,000 2,665,000 -3,004,000 -2,129,000 -1,341,000 2,951,000 -104,000 -1,360,000 -1,010,000 1,586,000 188,000 -1,394,000 -4,797,000 708,000 -1,329,000 -1,542,000 -914,000 684,000 -504,000 -464,000 -630,000 -738,000 290,000 -991,000 -634,000 
      operating lease liability
    		-208,000 -22,000 830,000 -136,000 -1,086,000 -1,580,000 -1,549,000 -1,528,000 -1,509,000 -1,447,000 -1,419,000 -1,395,000 -1,380,000 -1,322,000 -1,292,000 -1,277,000 975,000 -460,000 -401,000 -431,000 -495,000 -466,000 -459,000      
      accounts payable
    		4,571,000 -3,088,000 -1,987,000 428,000 -160,000 -81,000 782,000 3,289,000 -2,431,000 9,000 -3,380,000 2,301,000 -2,000 -870,000 1,150,000 1,743,000 -5,356,000 -3,372,000 5,540,000 735,000 684,000 3,409,000 994,000 -2,154,000 1,286,000 7,000 -596,000 -3,397,000 
      accrued expenses and other liabilities
    		13,866,000 14,019,000 -11,108,000 5,097,000 6,480,000 4,050,000 -10,897,000 6,823,000 4,064,000 1,714,000 -6,855,000 1,487,000 5,667,000 9,269,000 -12,734,000 266,000 10,260,000 6,018,000 -6,291,000 4,990,000 3,216,000 3,351,000 3,881,000 -8,771,000 6,244,000 2,612,000 -3,042,000 3,339,000 
      deferred revenue
    		134,000 306,000 227,000 -1,513,000 -1,988,000 -3,274,000 -4,107,000 -5,537,000 -5,511,000 -3,738,000 248,000 -28,000 2,007,000 615,000 1,663,000 2,334,000 1,669,000 1,911,000 1,540,000 1,012,000 1,430,000 935,000 650,000 2,998,000 1,024,000 239,000 169,000 6,000 
      net cash from operating activities
    		75,079,000 72,514,000 36,965,000 8,489,000 102,128,000 37,290,000 5,656,000 -5,339,000 36,952,000 4,309,000 -8,701,000 8,455,000 10,026,000 -446,000 -11,476,000 -12,448,000 20,864,000 544,000 1,876,000 8,953,000 6,750,000 8,364,000 -1,702,000 -943,000 29,827,000 1,569,000 -29,395,000 21,934,000 
      capex
    		-482,000 -2,381,000 -2,472,000 -1,549,000 -1,204,000 -598,000 -177,000 -134,000 -423,000 23,000 -158,000 -355,000 -291,000 -409,000 -193,000 -462,000 -231,000 -264,000 -70,000 -110,000 -583,000 -4,339,000 -1,288,000 -522,000 -2,795,000 -3,831,000 -3,604,000 -1,404,000 
      free cash flows
    		74,597,000 70,133,000 34,493,000 6,940,000 100,924,000 36,692,000 5,479,000 -5,473,000 36,529,000 4,332,000 -8,859,000 8,100,000 9,735,000 -855,000 -11,669,000 -12,910,000 20,633,000 280,000 1,806,000 8,843,000 6,167,000 4,025,000 -2,990,000 -1,465,000 27,032,000 -2,262,000 -32,999,000 20,530,000 
      cash flows from investing activities:
    		                            
      purchases of marketable securities
    		-106,791,000 -208,440,000 -50,708,000 -127,818,000 -40,205,000 -44,423,000 -149,876,000 -260,034,000 -195,061,000 -97,991,000 -156,128,000 -183,628,000 -166,909,000 -71,099,000 -160,251,000 -416,515,000 -78,861,000 -8,991,000 -20,976,000 -37,066,000 -22,467,000 -20,959,000 -26,789,000 -36,836,000 -45,383,000 -14,854,000 -71,713,000  
      proceeds from maturities of marketable securities
    		70,314,000 181,031,000 51,380,000 121,623,000 43,423,000 190,074,000 131,772,000 197,753,000 143,637,000 139,994,000 167,416,000 149,273,000 180,272,000 84,973,000 106,634,000 15,000,000 23,000,000 33,500,000 31,000,000 28,500,000 25,000,000 31,000,000 33,000,000      
      proceeds from sale of marketable securities
    		64,000 3,257,000 280,000 3,354,000 3,027,000 8,485,000 26,909,000 5,460,000 9,716,000 6,150,000 143,709,000                  
      acquisition of business, net of cash acquired
    		-39,436,000                            
      purchases of property and equipment
    		-482,000 -2,381,000 -2,472,000 -1,549,000 -1,204,000 -598,000 -177,000 -134,000 -423,000 23,000 -158,000 -355,000 -291,000 -409,000 -193,000 -462,000 -231,000 -264,000 -70,000 -110,000 -583,000 -4,339,000 -1,288,000 -522,000 -2,795,000 -3,831,000 -3,604,000 -1,404,000 
      internal-use software and platform development costs
    		-5,166,000 -4,507,000 -3,703,000 -2,316,000 -2,963,000 -3,149,000 -2,488,000 -3,480,000 -3,107,000 -3,369,000 -2,703,000 -2,325,000 -2,336,000 -1,591,000 -1,233,000 -889,000 -640,000 -1,283,000 -2,298,000 -2,478,000 -2,008,000 -1,560,000 -1,999,000 -1,832,000 -1,872,000 -972,000 -1,210,000 -1,169,000 
      net cash from investing activities
    		-81,497,000 -51,450,000 -5,223,000 -21,039,000 2,078,000 150,389,000 6,140,000 -63,435,000 -45,238,000 44,807,000 152,136,000 -37,035,000 10,736,000 11,874,000 -55,043,000 -402,866,000 -56,732,000 22,962,000 7,656,000 -11,154,000 -58,000 4,142,000 2,924,000 -27,190,000 -2,500,000 5,043,000 -76,277,000 -2,923,000 
      cash flows from financing activities:
    		                            
      change in escrow funds payable
    		6,451,000 -2,684,000 19,258,000                          
      proceeds from exercises of stock options and common stock warrants
    		76,000 1,000 652,000                  7,333,000    3,634,000 9,576,000 764,000  
      proceeds from employee stock purchase plan
    		0   1,878,000 0   1,517,000 0   1,332,000 0   2,101,000 0   2,252,000 0   2,814,000 0    
      repurchase of common stock
    		-31,001,000 -37,868,000 -33,054,000 0 0 -33,124,000 -66,876,000                      
      net cash from financing activities
    		-24,474,000 -38,352,000 -13,144,000 11,277,000 -3,189,000 -33,824,000 -56,220,000 36,005,000 1,322,000 400,000 -152,031,000 -6,868,000 -18,188,000 -4,916,000 36,054,000 -9,236,000 512,306,000 7,605,000 27,064,000 14,957,000 3,967,000 4,611,000 31,106,000 15,637,000 -23,259,000 11,260,000 25,764,000 83,062,000 
      net change in cash, cash equivalents, and restricted cash
    		-30,892,000 -17,288,000 18,598,000 -1,273,000 101,017,000 153,855,000 -44,424,000 -32,769,000 -6,964,000 49,516,000 -8,596,000 -35,448,000 2,574,000 6,512,000 -30,465,000 -424,550,000 476,438,000 31,111,000 36,596,000 12,756,000 10,659,000 17,117,000 32,328,000      
      cash, cash equivalents, and restricted cash—beginning of period
    		0 0 505,593,000 0 0 0 296,418,000  0 0 295,231,000  0 0 352,058,000  0 0 232,463,000  0 0 159,603,000      
      cash, cash equivalents, and restricted cash—end of period
    		-30,892,000 -17,288,000 524,191,000 -1,273,000 101,017,000 153,855,000 251,994,000  -6,964,000 49,516,000 286,635,000  2,574,000 6,512,000 321,593,000  476,438,000 31,111,000 269,059,000  10,659,000 17,117,000 191,931,000      
      supplemental disclosure of cash flow information:
    		                            
      cash paid for income taxes
    		4,808,000   1,412,000                    11,000    6,000 
      cash paid for interest
    		448,000 0 451,000 0 457,000 5,000 458,000 7,000 477,000 26,000 811,000 21,000 735,000 22,000 763,000 26,000 64,000 178,000 105,000 124,000 141,000 260,000 239,000 264,000 313,000 357,000 357,000 403,000 
      supplemental disclosures of non-cash activities:
    		                            
      right-of-use asset recognized
    		   0                         
      property and equipment purchased but not yet paid
    		3,000 -824,000 875,000 -284,000 192,000 -42,000 160,000   45,000 79,000  61,000 -256,000 302,000 -229,000 212,000 -134,000 173,000 -358,000 -83,000 -1,957,000 2,435,000 -744,000 -2,235,000 1,930,000 1,210,000 2,779,000 
      internal-use software and platform development costs incurred but not yet paid
    		0 252,000 227,000 144,000 122,000 104,000 30,000 175,000 -53,000 36,000 57,000 -2,000 -82,000   -12,000 82,000     130,000 40,000      
      gain on early extinguishment of convertible senior notes
    		                            
      purchase of an intangible asset
    		                            
      proceeds from exercises of stock options and common stock warrant
    		                           1,149,000 
      net cash paid for early extinguishment of convertible senior notes
    		                            
      changes in escrow funds payable
    		    -4,354,000 -4,281,000 10,550,000 34,417,000 316,000 -1,766,000 17,963,000 -8,508,000 -18,479,000 -7,934,000 35,566,000 -11,878,000 7,609,000 3,680,000 26,360,000 6,912,000 -1,423,000 5,998,000 14,834,000 -5,872,000 -3,709,000 -1,783,000 21,899,000 -9,292,000 
      proceeds from exercises of stock options
    		    1,165,000 664,000 106,000  1,006,000 177,000 758,000  291,000 556,000 488,000  909,000 3,130,000 2,597,000    3,165,000      
      supplemental disclosures of non-cash investing activities:
    		                            
      gain on early extinguishment of debt
    		       0 0 0 -38,945,000                  
      net cash paid for early extinguishment of debt
    		       0 0 -575,000 -170,752,000                  
      amortization of premium (accretion of discount) of purchases of marketable securities
    		       -4,598,000 -3,678,000 -2,667,000 -3,487,000     195,000             
      impairment expense
    		               1,352,000 0            
      repayment of debt
    		               0 -6,964,000 -1,893,000 -1,893,000 -1,892,000 -1,943,000 -19,893,000 -1,893,000 -1,893,000 -26,893,000    
      proceeds from issuance of convertible senior notes
    		               0             
      payment of debt issuance costs
    		               0             
      purchases of capped calls related to convertible senior notes
    		               0             
      cash, cash equivalents, and restricted cash—beginning of year
    		                            
      cash, cash equivalents, and restricted cash—end of year
    		                            
      supplemental disclosures of non-cash investing and financing activities:
    		                            
      depreciation
    		        1,763,000 1,854,000 2,024,000                  
      marketable securities purchased but not yet paid
    		              3,985,000              
      loss on disposal of fixed assets
    		                            
      proceeds from borrowings on debt
    		                   0 0 3,000,000 15,000,000 0 0 25,000,000 25,000,000 0 
      amortization of premium of purchases of marketable securities
    		            -315,000 263,000 537,000              
      amortization of premium (discount) on purchases of marketable securities
    		                 12,000 10,000          
      amortization of discount on purchases of marketable securities
    		                   -9,000 -54,000 -83,000 -174,000 -210,000 -283,000 -382,000 -283,000  
      change in fair value of redeemable convertible preferred stock warrant liability
    		                           2,446,000 
      taxes paid related to net share settlement of restricted stock units
    		                            
      proceeds from the initial public offering, net of discounts and commissions
    		                            
      payments of costs related to the initial public offering
    		                            
      conversion of redeemable convertible preferred stock warrant in connection with the initial public offering
    		                            
      conversion of redeemable convertible preferred stock in connection with the initial public offering
    		                            
      proceeds from exercise of redeemable convertible preferred stock warrant
    		                            
      repurchase of redeemable convertible preferred stock
    		                            
      reclassification of redeemable convertible preferred stock warrant liability to redeemable convertible preferred stock
    		                            
      unpaid deferred offering costs
    		                            
      change in fair value of tides foundation common stock warrant
    		                        62,000 125,000 252,000  
      sale of marketable securities
    		                        47,700,000    
      increase in restricted cash
    		                            
      changes in funds held in escrow, including funds in transit
    		                        3,709,000 1,783,000 -21,899,000 9,292,000 
      net increase in cash and cash equivalents
    		                        4,068,000 17,872,000 -79,908,000  
      cash and cash equivalents, beginning of period
    		                        0 0 129,128,000  
      cash and cash equivalents, end of period
    		                        4,068,000 17,872,000 49,220,000  
      decrease (increase) in restricted cash
    		                         -100,000 250,000  
      taxes paid related to net share settlement of rsus
    		                            
      cash and cash equivalents, beginning of year
    		                            
      cash and cash equivalents, end of year
    		                            
      gain on disposal of fixed assets
    		                            
      payments of deferred offering costs
    		                            
      net increase in cash
    		                            
      cash, beginning of year
    		                            
      cash, end of period
    		                            
      •
    		                            
    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.