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ALTAIR ENGINEERING INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) | |||||||
| Nine Months Ended September 30, | |||||||
| (In thousands) | 2023 | 2022 | |||||
| OPERATING ACTIVITIES: | |||||||
| Net loss | $ | (28,601 | ) | $ | (55,494 | ) | |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 29,271 | 24,092 | |||||
| Stock-based compensation expense | 66,423 | 62,524 | |||||
| Amortization of debt issuance costs | 1,399 | 1,330 | |||||
| Deferred income taxes | 2,178 | 4 | |||||
| Loss (gain) on mark-to-market adjustment of contingent consideration | 4,494 | (7,482 | ) | ||||
| Expense on repurchase of convertible senior notes | — | 16,621 | |||||
| Other, net | (14 | ) | 336 | ||||
| Changes in assets and liabilities: | |||||||
| Accounts receivable, net | 47,226 | 13,859 | |||||
| Prepaid expenses and other current assets | 959 | 1,906 | |||||
| Other long-term assets | (1,491 | ) | 3,134 | ||||
| Accounts payable | (5,494 | ) | (270 | ) | |||
| Accrued compensation and benefits | (2,726 | ) | (3,639 | ) | |||
| Other accrued expenses and current liabilities | (4,526 | ) | (48,698 | ) | |||
| Deferred revenue | (3,442 | ) | 18,311 | ||||
| Net cash provided by operating activities | 105,656 | 26,534 | |||||
| INVESTING ACTIVITIES: | |||||||
| Capital expenditures | (7,882 | ) | (6,721 | ) | |||
| Payments for acquisition of businesses, net of cash acquired | (3,235 | ) | (134,130 | ) | |||
| Other investing activities, net | (2,452 | ) | (10,322 | ) | |||
| Net cash used in investing activities | (13,569 | ) | (151,173 | ) | |||
| FINANCING ACTIVITIES: | |||||||
| Proceeds from the exercise of common stock options | 25,526 | 2,840 | |||||
| Payments for repurchase and retirement of common stock | (6,255 | ) | (4,387 | ) | |||
| Proceeds from employee stock purchase plan contributions | 5,772 | 6,549 | |||||
| Proceeds from issuance of convertible senior notes, net of discounts and commissions | — | 224,265 | |||||
| Repurchase of convertible senior notes | — | (192,422 | ) | ||||
| Payments of debt issuance costs | — | (1,523 | ) | ||||
| Other financing activities | (73 | ) | (170 | ) | |||
| Net cash provided by financing activities | 24,970 | 35,152 | |||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (2,599 | ) | (12,142 | ) | |||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 114,458 | (101,629 | ) | ||||
| Cash, cash equivalents and restricted cash at beginning of year | 316,958 | 414,012 | |||||
| Cash, cash equivalents and restricted cash at end of period | $ | 431,416 | $ | 312,383 | |||
