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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (43,665) $ (160,175)
Adjustments to reconcile net loss to net cash provided by operating activities    
Stock-based compensation 137,532 132,234
Depreciation and amortization 65,127 51,943
Accretion of discounts on marketable debt securities, net (10,131) (6,615)
Abandonment of long-lived assets 818 812
Noncash operating lease expense 7,906 7,932
Unrealized foreign currency loss, net 295 739
Deferred income taxes 4 7
Provision for credit losses 648 6,882
(Increase) decrease in fair value of strategic investments (457) 155
Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinations    
Accounts receivable 34,296 3,144
Deferred contract cost assets (3,217) (5,099)
Prepaid expenses and other assets (12,121) (1,878)
Accounts payable 11,029 2,258
Accrued expenses and other liabilities (8,475) (1,975)
Deferred revenue (6,268) 29,080
Operating lease liabilities (6,205) (8,172)
Net cash provided by operating activities 167,116 51,272
Investing activities    
Purchases of property and equipment (7,510) (8,073)
Capitalized software development costs (32,453) (25,187)
Purchases of strategic investments (1,917) (526)
Purchases of marketable securities (410,619) (309,282)
Maturities of marketable securities 371,718 287,620
Sales of marketable securities 0 5,452
Originations of materials financing 0 (23,585)
Customer repayments of materials financing 1,571 21,053
Acquisition of a business, net of cash acquired (25,945) 0
Asset acquisitions, net of cash acquired (3,792) (6,011)
Net cash used in investing activities (108,947) (58,539)
Financing activities    
Proceeds from stock option exercises 12,371 15,094
Proceeds from employee stock purchase plan 13,187 13,006
Payment of deferred business combination consideration (1,470) 0
Payment of deferred asset acquisition consideration (81) 0
Principal payments under finance lease agreements, net of proceeds from lease incentives (1,569) (1,450)
Net cash provided by financing activities 22,438 26,650
Net increase in cash and cash equivalents 80,607 19,383
Effect of exchange rate changes on cash 901 (881)
Cash and cash equivalents, beginning of period 357,790 299,816
Cash and cash equivalents, end of period 439,298 318,318
Supplemental disclosure of cash flow information    
Cash paid for interest other than finance leases 25 4
Cash paid for income taxes, net of refunds received 2,099 682
Stock-based compensation capitalized for cloud-computing arrangement costs 95 246
Cash received for lease incentives 394 537
Operating cash flows from finance leases 1,414 1,473
Operating cash flows from operating leases 8,142 9,710
Financing cash flows from finance leases 1,652 1,536
Noncash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued expenses at period end 2,099 792
Capitalized software development costs included in accounts payable and accrued expenses at period end 3,907 1,693
Stock-based compensation capitalized for software development 9,458 6,743
Deferred asset acquisition payment included in other current liabilities and accrued expenses at period end 1,400 370
Right of use assets obtained or modified in exchange for operating lease liabilities $ (3,599) $ 13,638