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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net loss $ (86,414) $ (37,120) $ (56,273)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation 12,126 8,724 5,654
Amortization of intangible assets 4,588 2,784 2,753
Share based compensation expenses 109,337 72,330 47,700
Amortization of debt discount and debt issuance costs 20,938 10,004
Increase in accrued interest and exchange rate on short-term and long-term deposits 748 (583) (555)
Amortization of premium and discount and accrued interest on marketable securities, net (346) (99) (77)
Deferred taxes, net 935 (959) (2,719)
Changes in operating lease right-of-use assets 18,225
Changes in operating lease liabilities (15,376)
Increase in trade receivables (3,459) (2,128) (1,936)
Increase in prepaid expenses and other current and long-term assets (5,168) (3,665) (1,824)
Increase (decrease) in trade payables (7,560) 10,933 11,834
Increase in employees and payroll accruals 7,781 2,843 5,627
Increase in short-term and long-term deferred revenues 71,397 54,681 58,353
Increase (decrease) in accrued expenses and other current liabilities 21,812 (2,036) 14,515
Net cash provided by operating activities 149,564 115,709 83,052
Cash flows from investing activities:      
Proceeds from short-term and restricted deposits 348,775 204,125 52,311
Investment in short-term and restricted deposits (296,100) (437,979) (88,706)
Investment in marketable securities (402,774) (58,963) (33,189)
Proceeds from marketable securities 132,905 21,054 245
Purchase of property and equipment (21,427) (13,684) (11,649)
Capitalization of software development costs (639) (392) (720)
Payments for businesses acquired (33,091)
Purchases of investments in privately-held companies (3,862) (1,250)
Investment in other long-term assets (891) (500)
Acquisition of intangible assets (75)
Net cash used in investing activities (244,013) (287,589) (114,874)
Cash flows from financing activities:      
Credit line repayment (170)
Proceeds from issuance of convertible senior notes 442,750
Payments of debt issuance costs (12,601)
Purchase of capped call (45,338)
Proceeds from exercise of options and ESPP shares 31,495 32,896 24,158
Net cash provided by financing activities 31,495 417,707 23,988
Increase (decrease) in cash and cash equivalents (62,954) 245,827 (7,834)
Cash and cash equivalents at the beginning of the year 331,057 85,230 93,064
Cash and cash equivalents at the end of the year 268,103 331,057 85,230
Supplemental disclosure of cash flow activities:      
Cash paid during the year for taxes 3,109 3,666 4,422
Supplemental information for non-cash transactions      
Right-of-use asset recognized with corresponding lease liability 46,121
Non-cash purchase of property and equipment $ 1,232 $ 1,413 $ 1,019