ALKAMI TECHNOLOGY INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
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 | $(62,913) | $(58,600) | $(46,822) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization expense | 10,631 | 8,075 | 3,443 |
| Accrued interest on marketable securities, net | (3,231) | (369) | — |
| Stock-based compensation expense | 51,231 | 44,592 | 14,535 |
| Amortization of debt issuance costs | 138 | 134 | 50 |
| Gain from revaluation of contingent consideration | — | (15,500) | — |
| (Gain) loss on financial instruments | (532) | 200 | 3,035 |
| Loss on extinguishment of debt | 409 | 18 | — |
| Gain on lease modification | (375) | — | — |
| Deferred taxes | (32) | (690) | 85 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (9,253) | (4,013) | (6,281) |
| Prepaid expenses and other assets | 425 | (3,194) | 352 |
| Accounts payable and accrued liabilities | 91 | (1,374) | 6,825 |
| Deferred implementation costs | (7,720) | (7,846) | (4,659) |
| Deferred rent and tenant allowances | — | — | (568) |
| Deferred revenues | 3,629 | 522 | 1,046 |
| Net cash used in operating activities | (17,502) | (38,045) | (28,959) |
| Cash flows from investing activities: | |||
| Purchase of marketable securities | (140,816) | (187,217) | — |
| Proceeds from sales, maturities, and redemptions of marketable securities | 181,019 | 99,750 | — |
| Purchases of property and equipment | (1,058) | (1,057) | (1,120) |
| Capitalized software development costs(1) | (5,234) | (3,388) | (2,577) |
| Acquisition of business, net of cash acquired(2) | — | (131,839) | (18,326) |
| Net cash provided by (used in) investing activities | 33,911 | (223,751) | (22,023) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt | — | 85,000 | — |
| Principal payments on debt | (85,000) | (24,688) | (313) |
| Payment of holdback funds from acquisition | (3,600) | (1,000) | — |
| Payments for taxes related to net settlement of equity awards | (15,985) | (2,665) | — |
| Proceeds from stock option exercises | 12,983 | 2,399 | 9,112 |
| Proceeds from exercise of warrants | — | — | 645 |
| Proceeds from ESPP issuance | 4,124 | 2,906 | 3,005 |
| Deferred IPO issuance costs paid | — | — | (4,520) |
| Debt issuance costs paid | (341) | (773) | — |
| Repurchase of common stock | — | — | (3,497) |
| Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions | — | — | 192,810 |
| Payment of Series B dividend | — | — | (4,969) |
| Net cash (used in) provided by financing activities | (87,819) | 61,179 | 192,273 |
| Net (decrease) increase in cash and cash equivalents and restricted cash | (71,410) | (200,617) | 141,291 |
| Cash and cash equivalents and restricted cash, beginning of period | 112,337 | 312,954 | 171,663 |
| Cash and cash equivalents and restricted cash, end of period | $40,927 | $112,337 | $312,954 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $7,056 | $3,612 | $1,100 |
| Cash paid for taxes | $332 | $249 | $32 |
(1)See Note 4 for additional information regarding noncash investing activities for the years ended December 31, 2023 and 2022 related to capitalized software development costs.
(2) See Note 3 for additional information regarding noncash investing activities for the years ended December 31, 2022 and 2021, related to the acquisition of Segmint and MK.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.