|
|
Nine Months Ended October 31, |
||||||
(in thousands) |
|
2021 |
|
2020 |
||||
|
|
|
|
|
||||
Operating activities |
|
|
|
|
||||
Net loss |
|
$ |
(91,159 |
) |
|
$ |
(89,605 |
) |
Adjustments to reconcile net loss to net cash used in operating activities |
|
|
|
|
||||
Depreciation and amortization |
|
|
33,865 |
|
|
|
46,300 |
|
Stock-based compensation, net of capitalized cost of $514 and $392, respectively |
|
|
12,619 |
|
|
|
11,089 |
|
Provision for doubtful accounts |
|
|
140 |
|
|
|
1,001 |
|
Change in fair value of convertible notes and warrant liabilities |
|
|
11,429 |
|
|
|
16,513 |
|
Debt extinguishment gain |
|
|
— |
|
|
|
(673 |
) |
Deferred income taxes |
|
|
406 |
|
|
|
121 |
|
Amortization of debt discount and issuance costs |
|
|
2,328 |
|
|
|
1,966 |
|
| Changes in operating assets and liabilities |
|
|
|
|
||||
| Accounts receivable |
|
|
32,336 |
|
|
|
(17,512 |
) |
| Prepaid expenses and other assets |
|
|
(12,860 |
) |
|
|
(1,321 |
) |
| Accounts payable, accrued and other liabilities |
|
|
2,061 |
|
|
|
(565 |
) |
| Deferred revenue |
|
|
(17,401 |
) |
|
|
(768 |
) |
| Deferred hosting cost |
|
|
6,759 |
|
|
|
6,802 |
|
| Deferred rent |
|
|
(1,539 |
) |
|
|
(1,444 |
) |
| Net cash used in operating activities |
|
|
(21,016 |
) |
|
|
(28,096 |
) |
| Investing activities |
|
|
|
|
||||
| Purchases of property and equipment |
|
|
(6,051 |
) |
|
|
(20,845 |
) |
| Capitalized internal-use software |
|
|
(2,678 |
) |
|
|
(3,009 |
) |
| Other |
|
|
(454 |
) |
|
|
(422 |
) |
| Net cash used in investing activities |
|
|
(9,183 |
) |
|
|
(24,276 |
) |
| Financing activities |
|
|
|
|
||||
| Proceeds from the exercise of common stock options |
|
|
6,866 |
|
|
|
438 |
|
| Proceeds from the early exercise of common stock options |
|
|
17,928 |
|
|
|
— |
|
| Payments of deferred offering costs |
|
|
(5,281 |
) |
|
|
— |
|
| Proceeds from issuance of debt and common stock warrants, net of issuance costs |
|
|
— |
|
|
|
14,862 |
|
| Principal payment of convertible notes |
|
|
— |
|
|
|
(2,586 |
) |
| Proceeds from issuance of convertible notes and preferred stock warrant |
|
|
— |
|
|
|
71,125 |
|
| Net cash provided by financing activities |
|
|
19,513 |
|
|
|
83,839 |
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
|
(807 |
) |
|
|
250 |
|
|
|
|
|
|
|
||||
| Net increase in cash, cash equivalents and restricted cash |
|
|
(11,493 |
) |
|
|
31,717 |
|
| Cash, cash equivalents and restricted cash at the beginning of the period |
|
|
76,540 |
|
|
|
27,739 |
|
| Cash, cash equivalents and restricted cash at the end of the period |
|
$ |
65,047 |
|
|
$ |
59,456 |
|
PLANET
