Outbrain Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
TEAD$0.19-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $(5,041) | $(5,605) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization of property and equipment | 1,639 | 1,704 |
| Amortization of capitalized software development costs | 2,409 | 2,641 |
| Amortization of intangible assets | 852 | 1,596 |
| Amortization of discount on marketable securities | (642) | (1,241) |
| Stock-based compensation | 2,927 | 2,611 |
| Non-cash operating lease expense | 1,195 | 1,146 |
| Provision for credit losses | 1,693 | 2,639 |
| Deferred income taxes | (174) | (437) |
| Other | 338 | (1,054) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 30,398 | (1,478) |
| Prepaid expenses and other current assets | 7,262 | 4,598 |
| Accounts payable and other current liabilities | (31,875) | (28,017) |
| Operating lease liabilities | (1,205) | (1,138) |
| Deferred revenue | (1,471) | (317) |
| Other non-current assets and liabilities | 300 | 1,874 |
| Net cash provided by (used in) operating activities | 8,605 | (20,478) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Acquisition of a business, net of cash acquired | (181) | (285) |
| Purchases of property and equipment | (1,335) | (3,749) |
| Capitalized software development costs | (2,627) | (2,853) |
| Purchases of marketable securities | (31,578) | (32,762) |
| Proceeds from maturities of marketable securities | 31,492 | 35,615 |
| Other | — | (5) |
| Net cash used in investing activities | (4,229) | (4,039) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Treasury stock repurchases and share withholdings on vested awards | (4,015) | (6,355) |
| Principal payments on finance lease obligations | (255) | (509) |
| Payment of contingent consideration liability up to acquisition-date fair value | — | (547) |
| Net cash used in financing activities | (4,270) | (7,411) |
| Effect of exchange rate changes | 363 | (436) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 469 | (32,364) |
| Cash, cash equivalents and restricted cash — Beginning | 71,079 | 105,765 |
| Cash, cash equivalents and restricted cash — Ending | $71,548 | $73,401 |
| RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH TO THE CONDENSED CONSOLIDATED BALANCE SHEETS | ||
| Cash and cash equivalents | $71,362 | $73,214 |
| Restricted cash, included in other assets | $186 | $187 |
| Total cash, cash equivalents, and restricted cash | $71,548 | $73,401 |
Condensed Consolidated Statements of Cash Flows (Continued)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Cash paid for income taxes, net of refunds | $2,133 | $2,313 |
| Cash paid for interest | $1,815 | $3,581 |
| SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
| Purchases of property and equipment included in accounts payable | $418 | $820 |
| Operating lease right-of-use assets obtained in exchange for lease obligations | $6,055 | $1,339 |
| Acquisition consideration payable | $— | $285 |
| Stock-based compensation capitalized for software development costs | $141 | $284 |
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