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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income (loss) $ (141,196) $ (41,420)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 11,746 5,696
Share-based compensation 81,024 694
Other 2,719 (993)
Changes in assets and liabilities:    
Accounts receivable 100,991 61,329
Prepaid expenses and other assets 6,624 510
Operating lease right-of-use assets 10,879 6,427
Accounts payable 2,613 7,481
Accrued expenses and other liabilities (4,905) (2,024)
Operating lease liabilities (13,205) (4,578)
Net cash provided by operating activities 57,290 33,122
Investing activities    
Purchases of property and equipment and intangible assets (7,005) (3,706)
Purchases of marketable securities (257,593) (113,952)
Sales of marketable securities 72,043 28,953
Maturities of marketable securities 250,074 84,883
Other investing activities 316 0
Net cash provided by (used in) investing activities 57,835 (3,822)
Financing activities    
Proceeds from exercise of stock options, net 20,347 110
Shares repurchased for tax withholdings on release of restricted stock units (44,090) 0
Other financing activities 0 (3,279)
Net cash used in financing activities (23,743) (3,169)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (214) 8
Net increase in cash, cash equivalents, and restricted cash 91,168 26,139
Cash, cash equivalents, and restricted cash, beginning of period 677,743 135,290
Cash, cash equivalents, and restricted cash, end of period 768,911 161,429
Supplemental cash flow information    
Accrued property and equipment 7,831 4,484
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 1,242 $ 22,862