Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
May 31, 2021 |
May 31, 2020 |
| Cash flows from operating activities: |
|
|
| Net loss |
$ (48,707)
|
$ (13,960)
|
| Adjustments to reconcile net loss to net cash used in Operating activities: |
|
|
| Depreciation and amortization expense |
8,696
|
1,928
|
| Amortization of deferred contract acquisition costs |
602
|
393
|
| Change in fair value of contingent consideration |
10,460
|
|
| Noncash interest expense |
379
|
141
|
| Stock-based compensation expense |
7,675
|
1,259
|
| Changes in operating assets and liabilities, net of effect of acquisition: |
|
|
| Accounts receivable and unbilled revenue |
(409)
|
(2,016)
|
| Accounts payable and accrued expenses |
268
|
(1,683)
|
| Deferred contract acquisition costs |
(507)
|
(647)
|
| Deferred revenue and due to customers |
7,643
|
5,159
|
| Accrued compensation |
(13,247)
|
2,789
|
| Deferred rent and other liabilities |
(82)
|
146
|
| Other assets |
(385)
|
(1,826)
|
| Net cash used in operating activities |
(27,614)
|
(8,317)
|
| Cash flows from investing activities: |
|
|
| Purchase of marketable securities |
(99,998)
|
|
| Capitalized software development costs |
|
(289)
|
| Purchases of property and equipment |
(701)
|
(249)
|
| Cash paid for acquisition, net of cash acquired |
(228,013)
|
|
| Net cash used in investing activities |
(328,712)
|
(538)
|
| Cash flows from financing activities: |
|
|
| Payments of initial public offering costs |
|
(721)
|
| Proceeds from stock option and warrant exercises |
1,991
|
2,937
|
| Payments of equity issuance costs |
(23)
|
|
| Payment of debt issuance costs |
(8,101)
|
|
| Payment for purchase of capped calls |
(34,443)
|
|
| Proceeds from stock purchases under employee stock purchase plan |
1,026
|
|
| Proceeds from borrowings on debt |
287,500
|
51,166
|
| Net cash provided by financing activities |
247,950
|
53,382
|
| Net increase (decrease) in cash and cash equivalents |
(108,376)
|
44,527
|
| Cash and cash equivalents, beginning of period |
433,884
|
33,155
|
| Cash and cash equivalents, end of period |
325,508
|
77,682
|
| Supplemental cash flow information: |
|
|
| Interest paid |
51
|
586
|
| Fixed assets included in accounts payable |
292
|
42
|
| Other receivable related to stock option exercises |
247
|
234
|
| Income taxes paid |
31
|
13
|
| Common stock issued in connection with acquisition |
116,187
|
|
| Replacement awards issued in connection with acquisition |
1,520
|
|
| Debt issuance and offering costs included in accounts payable and accrued expenses |
$ 304
|
$ 2,474
|