| (Unaudited) | ||||||||||||||||
|
Three Months Ended
June 30, |
Six Months Ended
June 30, | |||||||||||||||
| (in thousands) | 2021 | 2020 | 2021 | 2020 | ||||||||||||
| Net cash provided by operating activities | $ | 18,151 | $ | 5,365 | $ | 54,722 | $ | 33,401 | ||||||||
| Capital expenditures | (2,352 | ) | (886 | ) | (5,391 | ) | (2,530 | ) | ||||||||
| Free cash flow | $ | 15,799 | $ | 4,479 | $ | 49,331 | $ | 30,871 | ||||||||
Business Outlook
The following table provides a reconciliation of projected Non-GAAP net income to projected net loss, the most comparable GAAP financial measure:
| (Unaudited) | ||||||||||||||||
|
Three Months Ending
September 30, 2021 |
Year Ending
December 31, 2021 | |||||||||||||||
| (in thousands) | Low | High | Low | High | ||||||||||||
| Net loss | $ | (22,800 | ) | $ | (20,900 | ) | $ | (31,600 | ) | $ | (26,800 | ) | ||||
| Stock-based compensation expense | 11,700 | 11,700 | 43,700 | 43,700 | ||||||||||||
| Amortization of intangible assets | 4,500 | 4,500 | 17,600 | 17,600 | ||||||||||||
| Non-cash interest expense | 2,900 | 2,900 | 11,400 | 11,400 | ||||||||||||
| Restructuring expense | 500 | 500 | 5,600 | 5,600 | ||||||||||||
| Impact of non-GAAP tax rate | 3,300 | 2,900 | (5,800 | ) | (6,900 | ) | ||||||||||
| Non-GAAP net income | $ | 100 | $ | 1,600 | $ | 40,900 | $ | 44,600 | ||||||||
