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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income (loss) $ (236,788) $ (113,538)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 16,185 26,884
Share-based compensation 484,633 326,811
Non-cash charitable contributions 12,890 0
Impairment and abandonment charges for leases and leasehold improvements 117,315 0
Other (15,470) 10,731
Changes in assets and liabilities:    
Accounts receivable 59,303 144,083
Prepaid expenses and other assets (2,308) (37,960)
Operating lease right-of-use assets 43,785 39,140
Accounts payable (16,711) 71,603
Accrued expenses and other liabilities (54,780) (17,852)
Operating lease liabilities (53,373) (38,990)
Net cash provided by operating activities 354,681 410,912
Investing activities    
Purchases of property and equipment and intangible assets (3,780) (27,931)
Purchases of marketable securities (1,065,445) (688,146)
Sales of marketable securities 31,709 4,168
Maturities of marketable securities 978,804 735,819
Acquisition of business, net of cash acquired 0 (86,059)
Net cash used in investing activities (58,712) (62,149)
Financing activities    
Proceeds from exercise of stock options, net 4,664 4,807
Repurchases of Class A common stock (500,000) 0
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards (243,926) (98,357)
Net cash used in financing activities (739,262) (93,550)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 648 (3,558)
Net increase (decrease) in cash, cash equivalents and restricted cash (442,645) 251,655
Cash, cash equivalents and restricted cash, beginning of period 1,617,660 1,427,064
Cash, cash equivalents and restricted cash, end of period 1,175,015 1,678,719
Supplemental cash flow information    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 35,347 $ 19,783