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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net loss $ (24,812) $ (208,579)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 4,861 6,212
Share-based compensation 162,473 143,122
Impairment and abandonment charges for leases and leasehold improvements 0 112,934
Net amortization of investment premium and discount (6,788) (4,198)
Other (2,695) 2,852
Changes in assets and liabilities:    
Accounts receivable 201,188 192,523
Prepaid expenses and other assets (10,240) (5,773)
Operating lease right-of-use assets 8,727 25,163
Accounts payable 4,639 (11,031)
Accrued expenses and other liabilities 29,688 (43,659)
Operating lease liabilities (10,895) (26,109)
Net cash provided by operating activities 356,146 183,457
Investing activities    
Purchases of property and equipment (12,113) (1,990)
Purchases of marketable securities (336,522) (331,608)
Sales of marketable securities 2,999 29,271
Maturities of marketable securities 342,517 318,490
Net cash (used in) provided by investing activities (3,119) 14,163
Financing activities    
Proceeds from exercise of stock options, net 16,756 2,400
Repurchases of Class A common stock 0 (69,476)
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards (99,708) (91,508)
Net cash used in financing activities (82,952) (158,584)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (709) 1,142
Net increase in cash, cash equivalents and restricted cash 269,366 40,178
Cash, cash equivalents and restricted cash, beginning of period 1,368,532 1,617,660
Cash, cash equivalents and restricted cash, end of period 1,637,898 1,657,838
Supplemental cash flow information    
Repurchases of Class A common stock in accrued expenses and other current liabilities 0 2,161
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 2,057 $ 803