EverQuote Inc
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
EVER$28.03-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(51,287) | $(24,416) | $(19,434) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization expense | 6,196 | 5,848 | 5,072 |
| Stock-based compensation expense | 24,096 | 28,986 | 30,020 |
| Loss on sale of health assets | 19,388 | — | — |
| Impairment of right-of-use asset | 384 | — | — |
| Change in fair value of contingent consideration liabilities | (150) | (4,135) | 196 |
| Deferred taxes | — | — | (2,510) |
| Provision for (recovery of) bad debt | 204 | 693 | (41) |
| Unrealized foreign currency transaction (gains) losses | 21 | (9) | 24 |
| Changes in operating assets and liabilities, net of effects from acquisition: | |||
| Accounts receivable | 8,219 | 5,362 | 10,511 |
| Prepaid expenses and other current assets | 962 | (2,111) | 1,801 |
| Commissions receivable, current and non-current | 4,176 | (24,240) | (16,871) |
| Operating lease right-of-use assets | 2,497 | 2,613 | 2,710 |
| Other assets | 421 | (19) | 534 |
| Accounts payable | (13,411) | 1,124 | (3,968) |
| Accrued expenses and other current liabilities | (1,543) | (2,375) | 2,692 |
| Deferred revenue | 5 | (229) | 227 |
| Operating lease liabilities | (3,006) | (2,883) | (2,840) |
| Other long-term liabilities | — | — | (934) |
| Net cash provided by (used in) operating activities | (2,828) | (15,791) | 7,189 |
| Cash flows from investing activities: | |||
| Acquisition of property and equipment, including costs capitalized for development of internal-use software | (3,840) | (4,290) | (2,862) |
| Proceeds from sale of health assets | 13,194 | — | — |
| Acquisition of business | — | — | (15,955) |
| Net cash provided by (used in) investing activities | 9,354 | (4,290) | (18,817) |
| Cash flows from financing activities: | |||
| Proceeds from exercise of stock options | 979 | 942 | 3,615 |
| Proceeds from private placement of common stock | — | 15,000 | — |
| Tax withholding payments related to net share settlement | (402) | (100) | — |
| Net cash provided by financing activities | 577 | 15,842 | 3,615 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 18 | (27) | (6) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 7,121 | (4,266) | (8,019) |
| Cash, cash equivalents and restricted cash at beginning of period | 30,835 | 35,101 | 43,120 |
| Cash, cash equivalents and restricted cash at end of period | $37,956 | $30,835 | $35,101 |
| Supplemental disclosure of noncash investing and financing information: | |||
| Acquisition of property and equipment included in accounts payable | $25 | $60 | $100 |
| Fair value of contingent consideration in connection with acquisition included in liabilities | $— | $— | $3,784 |
| Issuance of Class A common stock to settle contingent consideration liabilities | $— | $1,889 | $— |
| Issuance of Class A common stock in settlement of stock-based compensation liability | $— | $164 | $— |
| Operating lease liabilities arising from obtaining right-of-use assets | $— | $1,096 | $383 |
| Reconciliation of cash, cash equivalents and restricted cash: | |||
| Cash and cash equivalents | $37,956 | $30,835 | $34,851 |
| Restricted cash (included in other assets) | — | — | 250 |
| Total cash, cash equivalents and restricted cash shown in the statement of cash flows | $37,956 | $30,835 | $35,101 |
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