1stdibscom Inc

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

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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

DIBS$5.85+1.0%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

(Amounts in thousands)

	Year Ended December 31,
	2023	2022	2021
Cash flows from operating activities:
Net loss	$(22,699)	$(22,538)	$(20,963)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,278	2,710	3,112
Stock-based compensation expense	12,363	11,214	2,839
Change in fair value of deferred acquisition consideration	—	—	427
Provision for transaction losses, returns and refunds	875	781	701
Amortization of costs to obtain revenue contracts	326	310	447
Amortization of operating lease right-of-use assets	2,596	2,541	—
Deferred rent	—	—	(194)
Gain on sale of Design Manager	—	(9,684)	—
Accretion of discounts and amortization of premiums on marketable securities, net	(3,390)	—	—
Other, net	(318)	195	21
Changes in operating assets and liabilities:
Accounts receivable	59	(497)	52
Prepaid expenses and other current assets	(1,469)	31	(1,418)
Receivables from payment processors	(194)	(323)	910
Other assets	(2,136)	(615)	(145)
Accounts payable and accrued expenses	578	(5,206)	5,055
Payables due to sellers	(662)	(3,041)	5,732
Operating lease liabilities	(2,790)	(2,735)	—
Other current liabilities and other liabilities	1,027	(1,057)	(977)
Net cash used in operating activities	(13,556)	(27,914)	(4,401)
Cash flows from investing activities:
Purchase of short-term investments	(191,093)	—	—
Maturities of short-term investments	92,653	—	—
Development of internal-use software	(1,706)	(1,871)	(2,110)
Purchases of property and equipment	(88)	(93)	(129)
Proceeds from sale of Design Manager	—	14,611	—
Other, net	2	(6)	(30)
Net cash (used in) provided by investing activities	(100,232)	12,641	(2,269)
Cash flows from financing activities:
Proceeds from issuance of common stock in initial public offering, net of underwriting discounts and commissions	—	—	122,993
Proceeds from exercise of stock options	353	2,035	2,729
Payments for repurchase of common stock	(3,374)	—	—
Payments for taxes related to net share settlement of stock-based compensation awards	(608)	—	—
Payment of deferred acquisition consideration	—	—	(640)
Payment of deferred offering costs	—	—	(5,032)
Net cash (used in) provided by financing activities	(3,629)	2,035	120,050
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	349	(278)	(16)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(117,068)	(13,516)	113,364
Cash, cash equivalents, and restricted cash at beginning of the period	158,043	171,559	58,195

Supplemental disclosure of cash flow information:
Cash, cash equivalents, and restricted cash at end of the period	$40,975	$158,043	$171,559
Cash paid for income taxes	$18	$26	$69
Cash paid for interest	—	10	16
Supplemental disclosure of non-cash activities:
Accretion of redeemable convertible preferred stock to redemption value	$—	$—	$7,061
Conversion of redeemable convertible preferred stock in connection with initial public offering	—	—	305,586
Change in deferred offering costs included in accounts payable and accrued expenses	—	—	(872)
Issuance of common stock for Design Manager acquisition	—	—	767

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