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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income $ 12,614 $ 114,963 $ 97,479
Adjustments required to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 16,434 14,092 13,838
Stock-based compensation expense 27,211 18,040 13,316
Change in payment obligation related to acquisitions (7,325) 19,251 (6,904)
Foreign currency translation 53 (27) 20
Accrued interest, net 3,355 (5,547) (3,646)
Deferred taxes, net (2,109) (654) (1,428)
Accrued severance pay, net 295 (274) (106)
Amortization of premium and accretion of discount on marketable securities (1,257) (1,147) 0
Gain from sale of property and equipment (46) (27) (12)
Restructuring costs and other charges 6,895 0 0
Net changes in operating assets and liabilities:      
Decrease (Increase) in Accounts receivable, net 66,063 (5,329) (45,236)
Increase in Prepaid expenses and other current assets (5,457) (433) (434)
Operating lease right-of-use assets 4,876 3,653 1,104
Operating lease liabilities (3,820) (3,966) (1,909)
Increase (Decrease) in Accounts payable (96,362) 6,878 48,191
Increase (Decrease) in Accrued expenses and other liabilities (14,233) (2,917) 9,320
Deferred revenue (248) (1,093) (1,474)
Net cash provided by operating activities 6,939 155,463 122,119
Cash flows from investing activities      
Purchases of property and equipment (6,872) (811) (1,058)
Proceeds from sale of property and equipment 46 27 12
Investment in marketable securities (39,502) (111,026) 0
Proceeds from maturities of marketable securities 40,813 34,427 0
Proceeds from short-term deposits 207,450 253,400 217,200
Investment in short-term deposits (139,333) (207,450) (253,400)
Cash paid in connection with acquisitions, net of cash acquired 0 (101,921) (9,570)
Net cash provided by (used in) investing activities 62,602 (133,354) (46,816)
Cash flows from financing activities      
Repurchase of shares for retirement (46,920) 0 0
Proceeds from exercise of stock-based compensation 547 2,433 5,833
Payments of contingent consideration (54,540) (13,256) (9,091)
Net cash used in financing activities (100,913) (10,823) (3,258)
Effect of exchange rate changes on cash and cash equivalents (214) 141 (59)
Net increase (decrease) in cash and cash equivalents and restricted cash (31,586) 11,427 71,986
Cash and cash equivalents and restricted cash at beginning of year 188,948 177,521 105,535
Cash and cash equivalents and restricted cash at end of year 157,362 188,948 177,521
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet      
Cash and cash equivalents 156,228 187,609 176,226
Restricted cash 1,134 1,339 1,295
Total cash, cash equivalents, and restricted cash 157,362 188,948 177,521
Cash paid during the year for:      
Income taxes 13,098 18,030 7,689
Interest 13 6 5
Non-cash investing and financing activities:      
Creation of new lease right-of-use assets arising from lease liability 18,476 132 2,085
Issuance of shares in connection with acquisitions 10,551 0 0
Measurement Period Adjustment (889) 0 12,290
Purchase of property and equipment on credit $ 936 $ 2 $ (47)