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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 67,081 $ 66,561
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 13,995 13,542
Stock-based compensation expense 22,101 19,187
Reduction in the carrying amount of operating lease right-of-use assets 6,904 6,061
Fair value mark-to-market on investments (1,502) (84)
Unrealized foreign currency exchange gain, net (11,411) (1,270)
Deferred income tax benefit (2,683) (7,932)
Others, net 496 1,442
Change in operating assets and liabilities:    
Accounts receivable (47,059) (35,231)
Other current and non-current assets (17,297) (22,945)
Income taxes payable, net 20,261 11,664
Accounts payable, accrued expenses and other liabilities 18,464 22,901
Deferred revenue 7,607 753
Accrued employee costs (69,254) (65,566)
Operating lease liabilities (5,984) (5,840)
Net cash provided by operating activities 1,719 3,243
Cash flows from investing activities:    
Purchases of property and equipment (12,933) (12,940)
Proceeds from sale of property and equipment 121 95
Purchases of investments (44,942) (90,185)
Proceeds from redemption of investments 101,779 81,362
Investment in equity affiliate 0 (600)
Net cash provided by/(used for) investing activities 44,025 (22,268)
Cash flows from financing activities:    
Principal payments of finance lease liabilities (153) (116)
Proceeds from borrowings 175,000 50,000
Repayments of borrowings (56,250) (31,250)
Acquisition of treasury stock (165,988) (17,994)
Proceeds from issuance of common stock 2,787 2,765
Net cash (used for)/provided by financing activities (44,604) 3,405
Effect of exchange rate changes (2,331) 2,700
Net decrease in cash, cash equivalents and restricted cash (1,191) (12,920)
Cash, cash equivalents and restricted cash at the beginning of the period 165,969 171,398
Cash, cash equivalents and restricted cash at the end of the period 164,778 158,478
Cash paid during the period for:    
Interest 3,535 3,790
Supplemental disclosure of non-cash investing and financing activities:    
Additions to property and equipment not yet paid 2,156 3,765
Assets acquired under finance lease $ 217 $ 297