C3ai Inc
For the period ended Apr 30, 2024. Filed Jun 18, 2024.
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FY2024 · Filed Jun 18, 2024
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal Year Ended April 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(279,696) | $(268,839) | $(192,065) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation and amortization | 12,719 | 6,088 | 5,190 |
| Non-cash operating lease cost | 742 | 6,992 | 4,185 |
| Stock-based compensation expense | 215,761 | 216,542 | 113,441 |
| Accretion of discounts on marketable securities | (17,214) | (4,558) | 1,765 |
| Other | 98 | 249 | (164) |
| Changes in operating assets and liabilities | |||
| Accounts receivable(1) | 4,522 | (54,517) | (14,156) |
| Prepaid expenses, other current assets and other assets(2) | 3,208 | (576) | (14,578) |
| Accounts payable(3) | (12,883) | (22,041) | 34,481 |
| Accrued compensation and employee benefits | (6,218) | 3,193 | 10,394 |
| Operating lease liabilities | 17,332 | 13,641 | (3,266) |
| Other liabilities(4) | 8,155 | (10,573) | (5,604) |
| Deferred revenue(5) | (8,888) | (1,292) | (26,085) |
| Net cash used in operating activities | (62,362) | (115,691) | (86,462) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (25,256) | (70,518) | (3,791) |
| Capitalized software development costs | (2,750) | (1,000) | (500) |
| Purchases of investments | (827,901) | (745,249) | (796,487) |
| Maturities and sales of investments | 789,292 | 876,713 | 1,117,793 |
| Net cash (used in) provided by investing activities | (66,615) | 59,946 | 317,015 |
| Cash flows from financing activities: | |||
| Taxes paid related to net share settlement of equity awards | (13,220) | (6,940) | — |
| Repurchase and retirement of Class A Common stock | — | — | (15,000) |
| Payment of deferred offering costs | — | — | (105) |
| Proceeds from issuance of Class A common stock under employee stock purchase plan | 10,763 | 3,093 | — |
| Proceeds from exercise of Class A common stock options | 13,751 | 4,468 | 20,816 |
| Net cash provided by financing activities | 11,294 | 621 | 5,711 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (117,683) | (55,124) | 236,264 |
| Cash, cash equivalents and restricted cash at beginning of period | 297,395 | 352,519 | 116,255 |
| Cash, cash equivalents and restricted cash at end of period | $179,712 | $297,395 | $352,519 |
| Cash and cash equivalents | 167,146 | 284,829 | 339,528 |
| Restricted cash included in prepaid expenses and other current assets | — | — | 425 |
| Restricted cash included in other assets, non-current | 12,566 | 12,566 | 12,566 |
| Total cash, cash equivalents and restricted cash | $179,712 | $297,395 | $352,519 |
| Fiscal Year Ended April 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental disclosure of cash flow information - cash paid for income taxes | $975 | $578 | $939 |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Purchases of property and equipment included in accounts payable and accrued liabilities | $474 | $13,814 | $9,261 |
| Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives) | $1,833 | $(5,589) | $26,529 |
| Right-of-use assets obtained in exchange for lease obligations arising from lease modifications | $— | $3,093 | $1,572 |
| Unpaid liabilities related to intangible purchases | $— | $1,500 | $2,500 |
| Receivable from exercise of stock options included in prepaid expenses, other current assets and other assets | $3 | $61 | $29 |
| Vesting of early exercised stock options | $507 | $1,006 | $2,746 |
(1)Including changes in related party balances of $12,444, $38,772 and $20,668 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
(2)Including changes in related party balances of $(810), $(4,741) and $12,739 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
(3)Including changes in related party balances of $248, $(16,349) and $18,493 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
(4)Including changes in related party balances of $(2,448), $(2,510) and $(3,350) for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
(5)Including changes in related party balances of $(46), $117 and $(7,565) for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
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