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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (50,153) $ (70,279)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 13,175 11,886
Amortization of deferred contract costs 28,642 21,829
Stock-based compensation 47,022 49,444
Allowance for credit losses 743 1,011
Accretion of marketable securities (4,450) (3,431)
Non-cash operating lease expense 2,732 3,012
Unrealized loss on strategic investments 10,311 1,793
Other 502 633
Changes in operating assets and liabilities:    
Accounts receivable 9,732 16,524
Prepaid expenses and other assets (545) 505
Deferred contract costs (32,734) (30,036)
Accounts payable, accrued expenses and other liabilities 2,937 (14,899)
Content costs payable (4,627) (206)
Operating lease liabilities (3,539) (3,436)
Deferred revenue 29,813 9,246
Net cash provided by (used in) operating activities 49,561 (6,404)
Cash flows from investing activities:    
Purchases of marketable securities (146,378) (125,968)
Proceeds from maturities of marketable securities 173,550 139,000
Purchases of property and equipment (554) (243)
Capitalized software costs (6,711) (6,385)
Net cash provided by investing activities 19,907 6,404
Cash flows from financing activities:    
Net proceeds from exercise of stock options 439 4,710
Proceeds from share purchases under employee stock purchase plan 4,533 4,757
Taxes paid related to net share settlement of equity awards (19,815) 0
Repurchases of common stock (90,577) 0
Net cash provided by (used in) financing activities (105,420) 9,467
Effect of foreign exchange rates on cash flows (21) (25)
Net increase (decrease) in cash, cash equivalents and restricted cash (35,973) 9,442
Cash, cash equivalents and restricted cash—Beginning of period 309,552 317,314
Cash, cash equivalents and restricted cash—End of period 273,579 326,756
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents, Amortized Costs 272,364 323,227
Restricted cash, current 100 0
Restricted cash, non-current 1,115 3,529
Total cash, cash equivalents and restricted cash 273,579 326,756
Supplemental disclosures of cash flow information:    
Interest paid 0 568
Income taxes paid 602 990
Supplemental disclosure of non-cash investing and financing activities:    
Stock-based compensation in capitalized costs 4,627 4,768
Net change in unrealized gain (loss) on marketable securities (92) 202
Operating lease right-of-use assets exchanged for operating lease liabilities $ 9,779 $ 0