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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 50,646 $ 138,322 $ 33,137
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 24,491 25,246 20,492
Amortization 6,962 5,869 5,954
Share based compensation expenses 237,376 240,721 224,625
Amortization of Debt Issuance Costs and Discounts 3,831 3,166 4,194
Changes in accrued interest and exchange rate on short-term and long-term deposits (308) 852 (2,415)
Non-cash impairment, restructuring and other costs 0 0 26,699
Amortization of premium and discount, accrued interest, and other gains (losses) on marketable debt securities, net (41,243) (13,381) 8,346
Remeasurement gain on marketable equity securities and investments in privately held companies (110) (2,536) (30,608)
Changes in deferred income taxes, net (91,742) (5,196) (8,784)
Changes in operating lease right-of-use assets 19,921 24,246 27,231
Changes in operating lease liabilities 45,449 (33,086) (31,333)
Loss (gain) on foreign exchange, net (18,225) 3,906 0
Decrease (increase) in trade receivables 3,219 12,720 (15,308)
Decrease (increase) in prepaid expenses and other current and long-term assets 39,004 (79,484) (20,105)
Increase (decrease) in trade payables 26,962 11,967 (52,455)
Increase (decrease) in employees and payroll accruals (32,955) 86,550 (29,532)
Increase in short-term and long-term deferred revenues 103,874 74,450 76,193
Increase in accrued expenses and other liabilities 204,216 3,083 11,915
Loss from equity method investment 1,490 0 0
Net cash provided by operating activities 582,858 497,415 248,246
Cash flows from investing activities:      
Proceeds from short-term and restricted deposits 188,475 276,697 625,495
Investment in short-term and restricted deposits (467,837) (170,332) (297,917)
Investment in trading marketable debt securities (278,038) (267,209) 0
Proceeds from trading marketable debt securities 277,249 0 0
Investment in available-for-sale marketable debt securities (639,888) 0 (6,732)
Proceeds from available-for-sale marketable debt securities 68,921 125,176 250,960
Purchase of property and equipment and lease prepayment (8,553) (17,813) (63,021)
Internal-use of software (1,348) (1,523) (3,028)
Proceeds from sale of marketable equity securities 0 22,148 68,671
Investments in privately held companies (7,208) (3,160) (7,603)
Payments for businesses acquired, net of acquired cash (23,880) 0 0
Proceeds from investments in privately-held companies 417 0 0
Investment in other long-term assets (10,458) 0 0
Payment for (Proceeds from) Other Investing Activity 0 550 (111)
Net cash provided by (used in) investing activities (902,148) (35,466) 566,714
Cash flows from financing activities:      
Repayment of convertible notes (575,000) 0 (362,667)
Purchase of treasury shares (574,999) (466,302) (127,017)
Proceeds from issuance of convertible senior notes 1,150,000 0 0
Payments of debt issuance costs (25,942) 0 0
Purchase of 2030 Capped Calls (71,875) 0 0
Proceeds from exercise of options and ESPP shares 54,818 59,576 39,660
Net cash used in financing activities (42,998) (406,726) (450,024)
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH 18,225 (3,906) 0
Increase (decrease) in cash, cash equivalents and restricted cash (344,063) 51,317 364,936
Cash, cash equivalents and restricted cash at the beginning of the year 660,939 609,622 244,686
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation, Total 316,876 660,939 609,622
Supplemental disclosure of cash flow activities:      
Cash paid during the year for taxes 3,555 11,326 12,410
Interest received during the year 43,142 36,346 47,696
Supplemental information for non-cash transactions:      
Right-of-use assets obtained in exchange for operating lease liabilities 18,325 3,545 255,690
Non-cash purchase of property and equipment 1,084 562 3,750
Restricted Cash and Cash Equivalent [Abstract]      
Cash and cash equivalents 311,356 660,939 609,622
Restricted cash $ 5,520 $ 0 $ 0