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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (75,424) $ (87,046)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 19,515 18,069
Amortization of deferred contract costs 43,863 34,482
Stock-based compensation 70,264 72,928
Allowance for credit losses 1,026 1,309
Accretion of marketable securities (6,651) (5,323)
Non-cash operating lease expense 3,641 4,468
Unrealized loss on strategic investments 10,311 1,793
Other 1,319 931
Changes in operating assets and liabilities:    
Accounts receivable 10,364 20,363
Prepaid expenses and other assets (5,508) (3,628)
Deferred contract costs (46,626) (45,205)
Accounts payable, accrued expenses and other liabilities 5,962 (7,102)
Content costs payable (3,978) 505
Operating lease liabilities (4,523) (5,168)
Deferred revenue 19,906 3,887
Net cash provided by operating activities 43,461 5,263
Cash flows from investing activities:    
Purchases of marketable securities (239,783) (225,536)
Proceeds from maturities of marketable securities 265,350 231,300
Purchases of property and equipment (1,116) (435)
Capitalized software costs (10,247) (9,321)
Net cash provided by (used in) investing activities 14,204 (3,992)
Cash flows from financing activities:    
Net proceeds from exercise of stock options 921 8,277
Proceeds from share purchases under employee stock purchase plan 4,533 4,757
Taxes paid related to net share settlement of equity awards (25,363) 0
Repurchases of common stock (141,591) 0
Net cash provided by (used in) financing activities (161,500) 13,034
Effect of foreign exchange rates on cash flows 61 (116)
Net increase (decrease) in cash, cash equivalents and restricted cash (103,774) 14,189
Cash, cash equivalents and restricted cash—Beginning of period 309,552 317,314
Cash, cash equivalents and restricted cash—End of period 205,778 331,503
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 204,563 327,974
Restricted cash, current 100 100
Restricted cash, non-current 1,115 3,429
Total cash, cash equivalents and restricted cash 205,778 331,503
Supplemental disclosures of cash flow information:    
Interest paid 0 3,186
Income taxes paid 1,165 1,337
Supplemental disclosure of non-cash investing and financing activities:    
Stock-based compensation in capitalized costs 6,953 6,966
Net change in unrealized gain (loss) on marketable securities 89 218
Operating lease right-of-use assets exchanged for operating lease liabilities 9,779 0
Accrued excise tax on share repurchases $ 944 $ 0