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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income (loss) $ 85,422 $ (12,124)
Adjustments to reconcile net income (loss) to cash provided by operating activities    
Stock-based compensation 41,425 34,781
Amortization of deferred commissions 18,504 17,282
Amortization of intangible assets and depreciation 3,137 4,254
Amortization of right-of-use lease assets 2,826 3,472
Foreign currency transaction loss 5,325 3,262
Loss (gain) on capped call transactions 223 (3,299)
Deferred income taxes 179 (646)
(Accretion) of investments (1,526) (2,612)
(Gain) on investments (751) (1,628)
Other non-cash 1,067 726
Change in operating assets and liabilities, net 48,397 136,678
Cash provided by operating activities 204,228 180,146
Investing activities    
Purchases of investments (69,318) (161,438)
Proceeds from maturities and called investments 324,596 29,643
Sales of investments 8,497 0
Investment in property and equipment (1,880) (604)
Cash provided by (used in) investing activities 261,895 (132,399)
Financing activities    
Repurchases of convertible senior notes (467,864) 0
Dividend payments to stockholders (2,583) (2,515)
Proceeds from employee stock plans 13,969 22,419
Common stock repurchases for tax withholdings for net settlement of equity awards (2,304) (2,005)
Common stock repurchases under stock repurchase program (117,204) 0
Cash (used in) provided by financing activities (575,986) 17,899
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 3,570 (2,803)
Net (decrease) increase in cash, cash equivalents, and restricted cash (106,293) 62,843
Cash, cash equivalents, and restricted cash, beginning of period 341,529 232,827
Cash, cash equivalents, and restricted cash, end of period 235,236 295,670
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 231,129 291,905
Restricted cash included in other current assets 49 775
Restricted cash included in other long-term assets 4,058 2,990
Total cash, cash equivalents, and restricted cash $ 235,236 $ 295,670