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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income (loss) $ (336,164) $ (1,325,653)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 29,174 19,496
Share-based compensation 234,801 1,265,581
Other 7,268 (3,296)
Changes in assets and liabilities:    
Accounts receivable (25,667) 12,331
Prepaid expenses and other assets (6,184) (1,502)
Operating lease right-of-use assets 31,835 21,746
Accounts payable 7,689 8,897
Accrued expenses and other liabilities 20,391 13,133
Operating lease liabilities (35,013) (19,634)
Net cash used in operating activities (71,870) (8,901)
Investing activities    
Purchases of property and equipment and intangible assets (14,032) (20,433)
Purchases of marketable securities (808,180) (527,899)
Sales of marketable securities 174,042 93,389
Maturities of marketable securities 699,133 252,164
Other investing activities 316 0
Net cash provided by (used in) investing activities 51,279 (202,779)
Financing activities    
Proceeds from initial public offering, net of underwriters' discounts and commissions 0 1,573,200
Proceeds from exercise of stock options, net 64,992 744
Shares repurchased for tax withholdings on release of restricted stock units (56,894) (424,965)
Payment of deferred offering costs and other financing activities (1,750) (11,305)
Net cash provided by financing activities 6,348 1,137,674
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (86) (182)
Net increase (decrease) in cash, cash equivalents, and restricted cash (14,329) 925,812
Cash, cash equivalents, and restricted cash, beginning of period 677,743 135,290
Cash, cash equivalents, and restricted cash, end of period 663,414 1,061,102
Supplemental cash flow information    
Accrued property and equipment 3,952 7,174
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 14,030 $ 41,399