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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
OPERATING ACTIVITIES:    
Net income (loss) [1] $ 10,724 $ (12,933)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 31,470 25,912
Provision for doubtful accounts and sales returns 13,448 12,139
Stock-based compensation 75,007 62,396
Other adjustments 411 1,314
Changes in operating assets and liabilities:    
Accounts receivable (16,971) (24,167)
Prepaid expenses and other assets (2,106) 3,638
Accounts payable, accrued expenses and other liabilities 15,628 13,193
Deferred revenue 350 295
Net cash provided by operating activities 127,961 81,787
INVESTING ACTIVITIES:    
Purchases of marketable securities (179,557) (221,771)
Maturities of marketable securities 191,000 212,500
Purchase of cost-method investment 0 (8,000)
Acquisitions of businesses, net of cash received (50,544) 0
Purchases of property, equipment and software (7,892) (17,798)
Capitalized website and software development costs (12,236) (10,596)
Other investing activities (1,209) (927)
Net cash used in investing activities (60,438) (46,592)
FINANCING ACTIVITIES:    
Proceeds from issuance of common stock for employee stock-based plans 29,556 18,055
Cash used for common stock repurchases (7,743) 0
Net cash provided by financing activities 21,813 18,055
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 864 28
CHANGE IN CASH AND CASH EQUIVALENTS 90,200 53,278
CASH AND CASH EQUIVALENTS—Beginning of period 272,201 171,613
CASH AND CASH EQUIVALENTS—End of period 362,401 224,891
SUPPLEMENTAL DISCLOSURES OF OTHER CASH FLOW INFORMATION:    
Cash paid for income taxes, net 82 688
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Purchases of property, equipment and software recorded in accounts payable, accrued expenses and other liabilities 3,555 4,373
Goodwill measurement period adjustment $ (178) $ 146
[1] The structure of the Company’s common stock changed during the year ended December 31, 2016. Refer to Note 13 for details.