Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:        
Net loss $ (22,963) $ (22,129)    
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:        
Depreciation and amortization 5,907 5,214    
Provision for credit losses (72) 194    
Stock-based compensation expense 3,917 4,847    
Change in fair value of contingent consideration 651 5,045    
Change in deferred taxes (311) (465)    
Amortization of debt issuance costs 215 299    
Amortization of right-of-use assets 300 251    
Imputed non-cash interest (income) expense (22) 16    
Changes in assets and liabilities:        
Accounts receivable 2,002 18,982    
Expenditures billable to clients 9,304 7,487    
Prepaid expenses and other assets 631 (34)    
Other assets 234 (1,146)    
Accounts payable 1,277 (8,384)    
Accrued media payments (19,657) 8,770    
Client advances (15,630) (2,593)    
Other accrued liabilities 2,211 (6,104)    
Other liabilities (1,779) (116)    
Net cash (used in) provided by operating activities (33,785) 10,134 $ 3,737 $ 7,234
Cash flows from investing activities:        
Minority investment   (2,000)    
Capital expenditures (1,447) (735)    
Acquisitions, net of cash acquired (1,500) (1,319)    
Net cash used in investing activities (2,947) (4,054)    
Cash flows from financing activities:        
Payment of contingent considerations (7,772) (14,376)    
Taxes paid related to net share settlement of equity awards (852) (9,441)    
Proceeds from issuances of stock under employee stock plans, net 643 569    
Net cash used in financing activities (7,981) (23,248)    
Net decrease in cash and cash equivalents and restricted cash (44,713) (17,168)    
Cash and cash equivalents and restricted cash, beginning of period 185,282 255,577 255,577  
Cash and cash equivalents and restricted cash, end of period 140,569 238,409 $ 185,282 $ 255,577
Non-cash investing and financing activities:        
Shares issued for acquisition of businesses and earn-out consideration 756 8,369    
Stock-based compensation capitalized for software development 134 33    
Lease liabilities arising from right-of-use assets $ 499 $ 4,501