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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Jun. 30, 2019
Mar. 31, 2019
Cash flows from operating activities:      
Net income $ 18,694   $ 13,266
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 7,747   7,935
Accounts Receivable, Credit Loss Expense (Reversal) 0   105
Bad debt expense 148   0
Stock-based compensation 9,997   8,445
Amortization of accretion of discounts on marketable securities (64)   (580)
Deferred income taxes 1,784   1,643
Changes in operating assets and liabilities:      
Accounts receivable 5,190   7,962
Prepaid expenses and other assets (1,629)   (3,205)
Accounts payable (262)   (1,374)
Accrued liabilities 253   332
Deferred revenues 10,577   9,855
Other non-current liabilities 0   (37)
Net cash provided by operating activities 52,435   44,347
Cash flows from investing activities:      
Purchases of marketable securities (85,567)   (66,224)
Sales and maturities of marketable securities 129,651   91,046
Purchases of property and equipment (7,271)   (8,608)
Business combinations 0   (850)
Payments to Acquire Investments   $ 600  
Net cash provided by investing activities 36,813   15,364
Cash flows from financing activities:      
Proceeds from exercise of stock options 4,714   4,047
Payments for taxes related to net share settlement of equity awards (5,000)   (3,367)
Principal payments under finance lease obligations (30)   (419)
Repurchase of common stock (28,926)   (7,871)
Net cash used in financing activities (29,242)   (7,610)
Net increase in cash, cash equivalents and restricted cash 60,006   52,101
Cash, cash equivalents and restricted cash at beginning of period 88,759 $ 94,327 42,226
Cash, cash equivalents and restricted cash at end of period $ 148,765   $ 94,327