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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income (loss) $ 16,390 $ (8,868) $ (32,828)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 69,538 107,668 54,177
Loss on extinguishment of debt 2,077 0 0
Amortization of debt issuance costs 2,497 3,382 3,413
Non-cash operating lease expense 4,184 4,104 3,349
Stock-based compensation expense 99,026 104,820 120,234
Change in fair value of contingent consideration 0 0 18,057
Deferred income taxes (11,914) (65,562) (497)
Gain on sale of business 0 0 (11,404)
Loss on operating lease assets 0 1,353 12,569
Loss on disposal of capitalized software 0 7,975 0
Loss on minority equity interest investment 0 4,008 0
Other 0 1,348 0
Changes in operating assets and liabilities, net of effects of business acquisitions      
Accounts receivable (2,326) (26,467) 1,375
Prepaid expenses and other assets 6,327 (32,162) (13,644)
Accounts payable (21,241) 17,456 (874)
Accrued expenses and other current liabilities 25,709 21,253 (5,268)
Operating lease liabilities (4,953) (2,930) (4,004)
Other liabilities (1,422) 914 2,125
Net cash provided by operating activities 183,892 138,292 146,780
Cash flows from investing activities      
Purchase of property and equipment (1,240) (1,043) (3,967)
Acquisitions, net of cash acquired 0 0 (156,853)
Capitalized software (69,107) (54,723) (51,247)
Investment in minority equity interest 0 0 (15,007)
Proceeds from sale of business 0 0 16,576
Net cash used in investing activities (70,347) (55,766) (210,498)
Cash flows from financing activities      
Proceeds from long-term debt 472,033 0 0
Payments on long-term debt (639,038) (5,271) (7,029)
Payments of debt issuance costs (2,673) 0 0
Repurchases of Class A common stock [1] (158,845) (103,974) (101,721)
Proceeds from exercise of stock options 19,046 5,941 9,159
Employee taxes paid related to net share settlement of equity awards (29,784) (65,481) (20,635)
Proceeds from employee stock purchase plan 1,766 1,390 0
Net cash used in financing activities (337,495) (167,395) (120,226)
Net change in cash and cash equivalents (223,950) (84,869) (183,944)
Cash and cash equivalents      
Beginning of period 672,296 757,165 941,109
End of period 448,346 672,296 757,165
Supplemental disclosure of cash flow information      
Income tax paid, net 23,623 17,243 4,356
Interest paid 55,099 48,799 30,702
Non cash investing and financing activities:      
Right-of-use assets obtained in exchange for new operating lease liabilities 2,049 52 22,491
Stock-based compensation included in capitalized software 16,124 13,144 8,969
Capitalized software included in accounts payable and accrued expenses and other current liabilities 8,118 7,826 4,176
Capitalized software transferred from prepaid assets $ 0 $ 5,751 $ 0
[1] Repurchases of Class A common stock for the year ended December 31, 2024 and 2023 include 20.9 million and
12.0 million shares repurchased from related parties (after giving effect to the automatic conversion of Class B
common stock to Class A common stock upon such repurchase) for an aggregate consideration of $151.4 million,
and $65.9 million, respectively. See "Note 14. Stockholders' Equity" for additional information.