XML 25 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income (loss) $ 25,526 $ (152,815) $ (124,717)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 44,893 45,939 41,038
Amortization of debt issuance costs 4,447 4,138 4,085
Stock-based compensation expense 107,961 111,636 119,902
Impairment of long-lived assets 0 30,784 0
Change in fair value of derivative assets 0 15,511 0
Deferred income taxes 791 (5,624) (1,440)
Induced conversion expense 0 53,889 0
Other (1,503) 469 (200)
Changes in assets and liabilities:      
Accounts receivable (5,480) (14,021) (9,050)
Deferred contract acquisition and fulfillment costs (4,196) (18,534) (15,910)
Prepaid expenses and other assets 2,805 (4,125) (2,231)
Accounts payable 2,777 5,449 7,977
Accrued expenses (9,829) 2,422 3,741
Deferred revenue (795) 30,472 52,516
Other liabilities 4,273 (1,312) 2,493
Net cash provided by operating activities 171,670 104,278 78,204
Cash flows from investing activities:      
Business acquisitions, net of cash acquired (37,301) (34,841) 0
Purchases of property and equipment (3,425) (4,366) (20,382)
Capitalization of internal-use software (14,162) (15,878) (17,145)
Purchases of investments (242,494) (276,829) (122,765)
Sales and maturities of investments 250,500 150,450 121,304
Other investing activities 360 2,710 (1,000)
Net cash used in investing activities (46,522) (178,754) (39,988)
Cash flows from financing activities:      
Proceeds from issuance of convertible senior notes, net of issuance costs paid of $7,909 0 292,091 0
Purchase of capped calls related to convertible senior notes 0 (36,570) 0
Payment of debt issuance costs 0 0 (71)
Payments for repurchase of convertible senior notes 0 (199,998) (12)
Payments related to business acquisitions (500) (2,250) (300)
Proceeds from capped call settlement 0 17,518 0
Taxes paid related to net share settlement of equity awards (4,730) (5,570) (7,462)
Proceeds from employee stock purchase plan 9,246 11,323 11,943
Proceeds from stock option exercises 1,566 3,053 3,318
Net cash provided by financing activities 5,582 79,597 7,416
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2,756) 1,202 (2,845)
Net increase in cash, cash equivalents and restricted cash 127,974 6,323 42,787
Cash, cash equivalents and restricted cash, beginning of period 214,127 207,804 165,017
Cash, cash equivalents and restricted cash, end of period 342,101 214,127 207,804
Supplemental cash flow information:      
Cash paid for interest on convertible senior notes 6,358 4,605 6,675
Cash paid for income taxes, net of refunds 8,949 1,624 1,571
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 334,686 213,629 207,287
Restricted cash included in prepaid expenses and other current assets and other assets 7,415 498 517
Total cash, cash equivalents and restricted cash $ 342,101 $ 214,127 $ 207,804