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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income (loss) attributable to common stockholders $ 84,492 $ 19,409 $ (27,804)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 130,052 117,866 102,232
Stock-based compensation 90,545 88,347 105,829
Provision for expected credit losses 16,446 15,357 16,551
Operating lease right-of-use assets and liabilities, net 324 5,709 11,417
Loss on extinguishment of debt 0 0 407
Net accretion of discounts and amortization of premiums on investments 2,569 1,866 (6,135)
Non-cash interest expense 7,987 7,949 7,880
Impairment of certain long-lived assets 356 1,140 1,635
Deferred income taxes 2,337 (67) (1,835)
Release of VAT reserve 0 (819) 0
Other 4,921 627 166
Changes in operating assets and liabilities:      
Accounts receivable (26,746) (22,668) (26,645)
Prepaid expenses and other current assets (12,099) (9,593) (1,424)
Accounts payable and accrued expenses 7,423 (11,077) 5,500
Deferred revenue 57 (315) (290)
Other assets and liabilities (25,939) 21,211 7,668
Net cash provided by operating activities 282,725 234,942 195,152
Investing activities      
Capital expenditures - property and equipment (178,167) (119,299) (106,389)
Capital expenditures - internal-use software development (8,356) (5,514) (8,913)
Purchase of intangible assets 0 0 4,915
Cash paid for acquisition of businesses, net of cash acquired 0 (99,023) (305,170)
Cash paid for asset acquisitions 0 (2,500) (5,400)
Purchase of marketable securities 0 (352,313) (1,695,165)
Sales of marketable securities 0 0 19,992
Maturities of marketable securities 91,675 979,565 956,847
Purchased interest on marketable securities 0 (151) (1,575)
Proceeds from interest on marketable securities 0 151 1,549
Proceeds from sale of equipment 43 236 981
Net cash (used in) provided by investing activities (94,805) 401,152 (1,148,158)
Financing activities      
Payment of debt issuance costs 0 0 (1,520)
Proceeds related to the issuance of common stock under equity incentive plan 13,069 38,410 11,509
Proceeds from the issuance of common stock under employee stock purchase plan 4,095 4,977 7,926
Principal repayments of finance leases (5,475) (2,260) 0
Employee payroll taxes paid related to net settlement of equity awards (28,347) (21,575) (28,278)
Repurchase and retirement of common stock including related costs (59,788) (488,455) (600,000)
Net cash used in financing activities (76,446) (468,903) (610,363)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (264) (15) (249)
Increase (decrease) in cash, cash equivalents and restricted cash 111,210 167,176 (1,563,618)
Cash, cash equivalents and restricted cash - beginning of period 318,983 151,807 1,715,425
Cash, cash equivalents and restricted cash - end of period 430,193 318,983 151,807
Supplemental disclosures of cash flow information:      
Cash paid for interest 1,048 916 475
Cash paid for taxes, net of refunds 19,667 2,723 4,567
Operating cash flows paid for operating leases 83,070 74,248 49,870
Non-cash investing and financing activities:      
Capitalized stock-based compensation 2,807 1,440 1,722
Property and equipment received but not yet paid, included in Accounts payable and Accrued other expenses 55,260 4,826 15,689
Operating right-of-use assets obtained in exchange for operating lease liabilities 113,230 73,440 204,105
Finance right-of-use assets obtained in exchange for finance lease liabilities $ 324 $ 11,938 $ 0