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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 1,730 $ (19,893)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 29,139 25,121
Reduction in the carrying amount of right-of-use assets 10,080 6,312
Amortization of deferred contract acquisition costs 41,528 33,825
Accretion of discount on marketable investments (5,325) (11,217)
Provision for credit losses 945 677
Stock-based compensation 81,104 88,316
Amortization of discount and issuance costs on convertible senior notes 2,680 2,509
Gain on early extinguishment of debt 0 (6,615)
Impairment charge of long-lived assets 835 0
Interest on finance lease obligations 548 126
Deferred taxes 33 356
Other (201) (190)
Changes in operating assets and liabilities:    
Accounts receivable (13,608) (7,635)
Prepaid expenses and other current assets 2,854 (7,137)
Deferred contract acquisition costs (56,181) (53,032)
Other assets 2,552 (1,868)
Accounts payable 3,853 3,931
Accrued and other current liabilities (8,096) 3,934
Deferred revenue (11,522) (3,484)
Other liabilities 497 (1,805)
Net cash provided by operating activities 83,445 52,231
Cash flows from investing activities:    
Purchases of marketable investments (315,146) (816,492)
Proceeds from sales of marketable investments 90,502 12,517
Proceeds from maturities of marketable investments 442,655 470,755
Purchases of property and equipment (8,218) (18,722)
Capitalization of software development costs (18,730) (8,260)
Net cash provided by (used in) investing activities 191,063 (360,103)
Cash flows from financing activities:    
Proceeds from issuance of 2029 convertible senior notes 0 731,055
Payment of debt issuance costs 0 (2,212)
Payments for capped call transactions associated with the 2029 convertible senior notes 0 (93,438)
Repurchase of a portion of 2025 convertible senior notes, net of costs 0 (304,485)
Repayment of outstanding 2025 convertible senior notes at maturity (434,405) 0
Cash received from partial termination of capped calls associated with the 2025 convertible senior notes 0 539
Proceeds from exercise of common stock options 30 397
Proceeds from sale of common stock under ESPP 7,921 9,522
Payment of finance lease liabilities (4,671) (966)
Net cash (used in) provided by financing activities (431,125) 340,412
Net (decrease) increase in cash, cash equivalents and restricted cash (156,617) 32,540
Cash, cash equivalents and restricted cash:    
Beginning of period 364,185 144,842
End of period 207,568 177,382
Supplemental disclosures of cash flow data:    
Cash paid for interest 5,428 1,603
Cash paid for income taxes 2,923 1,512
Non-cash investing and financing activities:    
Property and equipment unpaid at period-end 13,058 16,684
Stock-based compensation included in capitalized software development costs 4,928 3,432
Aceyus, Inc.    
Cash flows from investing activities:    
Cash paid to acquire $ 0 $ 99