ZoomInfo Technologies Inc
For the period ended Dec 31, 2023. Filed Feb 15, 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 15, 2024
GTM$3.34-4.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| ZoomInfo Technologies Inc. | |||
|---|---|---|---|
| Consolidated Statements of Cash Flows | |||
| (in millions) | |||
| Year Ended December 31, | |||
| 2023 | 2022 | 2021 | |
| Operating activities: | |||
| Net income (loss) | $107.3 | $63.2 | $94.9 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 80.6 | 87.8 | 69.3 |
| Amortization of debt discounts and issuance costs | 2.4 | 3.0 | 2.5 |
| Amortization of deferred commissions costs | 75.3 | 65.9 | 41.7 |
| Asset impairments | 5.2 | — | 2.7 |
| Loss on debt modification and extinguishment | 4.3 | — | 7.7 |
| Deferred consideration valuation adjustments | — | 0.2 | 0.2 |
| Equity-based compensation expense | 167.6 | 192.3 | 93.0 |
| Deferred income taxes | 276.7 | 123.3 | (14.5) |
| Tax receivable agreement remeasurement | (160.7) | (65.6) | (39.5) |
| Provision for bad debt expense | 33.8 | 5.7 | 4.5 |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (82.8) | (39.3) | (66.1) |
| Prepaid expenses and other current assets | (8.0) | (8.0) | (9.8) |
| Deferred costs and other assets | (78.2) | (81.9) | (53.4) |
| Income tax receivable | 2.4 | (0.7) | (2.3) |
| Accounts payable | (1.8) | 19.5 | 4.6 |
| Accrued expenses and other liabilities | (11.2) | 2.8 | 32.5 |
| Unearned revenue | 22.0 | 48.8 | 131.4 |
| Net cash provided by (used in) operating activities | $434.9 | $417.0 | $299.4 |
| Investing activities: | |||
| Purchases of short-term investments | $(145.0) | $(139.3) | $(119.8) |
| Maturities of short-term investments | 194.5 | 30.8 | 61.3 |
| Proceeds from sales of short-term investments | 1.4 | — | 70.5 |
| Purchases of property and equipment and other assets | (26.5) | (28.9) | (23.6) |
| Cash paid for acquisitions, net of cash acquired | — | (143.7) | (684.2) |
| Net cash provided by (used in) investing activities | $24.4 | $(281.1) | $(695.8) |
| Financing activities: | |||
| Payments of deferred consideration | $(0.4) | $(1.1) | $(9.4) |
| Proceeds from debt issuances | — | — | 1,071.8 |
| Payments of debt issuance and modification costs | (3.8) | (0.4) | (11.6) |
| Repayment of debt | (6.0) | — | (581.4) |
| Proceeds from exercise of stock options | 0.4 | 1.3 | 2.1 |
| Taxes paid related to net share settlement of equity awards | (24.5) | (17.4) | (10.4) |
| Proceeds from issuance of common stock under the ESPP | 7.2 | 4.2 | — |
| Payments of equity issuance costs | — | (0.3) | (1.7) |
| Tax receivable agreement payments | — | (12.2) | — |
| Repurchase of common stock | (400.1) | — | — |
| Tax distributions | — | — | (19.9) |
| Net cash provided by (used in) financing activities | $(427.2) | $(25.9) | $439.5 |
| Net increase in cash, cash equivalents, and restricted cash | $32.1 | $110.0 | $43.1 |
| Cash, cash equivalents, and restricted cash at beginning of year | 424.1 | 314.1 | 271.0 |
| Cash, cash equivalents, and restricted cash at end of year | $456.2 | $424.1 | $314.1 |
| ZoomInfo Technologies Inc. | |||
|---|---|---|---|
| Consolidated Statements of Cash Flows | |||
| (in millions) | |||
| Year Ended December 31, | |||
| 2023 | 2022 | 2021 | |
| Cash, cash equivalents, and restricted cash at end of period: | |||
| Cash and cash equivalents | $447.1 | $418.0 | $308.3 |
| Restricted cash, current | 0.2 | — | — |
| Restricted cash, non-current | 8.9 | 6.1 | 5.8 |
| Total cash, cash equivalents, and restricted cash | $456.2 | $424.1 | $314.1 |
| Supplemental disclosures of cash flow information: | |||
| Interest paid in cash | $48.5 | $50.0 | $33.3 |
| Cash paid for taxes | 12.2 | 11.6 | 18.1 |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Equity-based compensation included in capitalized software | $5.4 | $— | $— |
| Property and equipment included in accounts payable and accrued expenses and other current liabilities | 1.8 | 0.9 | 1.2 |
| Deferred variable consideration from acquisition of a business | — | — | 2.2 |
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