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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income (loss) $ 4,082 $ (5,924)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization expense 7,094 4,807
Amortization of deferred contract costs 9,163 7,510
Amortization (accretion) of premiums and discounts on investments (2,551) (4,667)
Non-cash lease expense 3,431 2,828
Stock-based compensation expense 19,856 10,764
Non-cash interest expense 0 158
Change in fair value included in other income, net (633) (335)
Deferred taxes (286) 12
Other non-cash items 1,457 771
Changes in operating assets and liabilities    
Accounts receivable (301) (2,261)
Deferred contract costs (8,980) (9,835)
Prepaid expenses and other current assets (3,495) (5,411)
Accounts payable 1,939 (5,570)
Accrued expenses 1,296 174
Other current liabilities (527) 0
Deferred revenue 6,852 6,198
Other long-term liabilities 84 0
Change in operating lease liability (3,418) (2,786)
Net cash provided by (used in) operating activities 35,063 (3,567)
Investing Activities    
Purchases of property and equipment (3,411) (1,065)
Capitalization of internal-use software costs (5,842) (3,913)
Purchases of short-term investments (136,768) (182,381)
Proceeds from sales and maturities of short-term investments 132,500 154,741
Purchases of convertible debt securities (3,650) (319)
Funding of investment loan receivable (7,757) 0
Cash paid for acquisition of businesses, net of cash acquired (21,082) (1,232)
Purchase of noncontrolling interest (4,870) 0
Purchases of other investments (196) (150)
Net cash used in investing activities (51,076) (34,319)
Financing Activities    
Proceeds from exercise of stock options 3,700 746
Proceeds from issuance of shares in connection with employee stock purchase plan 0 264
Payment of acquired debt (1,114) 0
Payment of finance leases (577) (1,938)
Net cash provided by (used in) financing activities 2,009 (928)
Effect of exchange rate changes on cash and cash equivalents 424 238
Increase (decrease) in cash, cash equivalents and restricted cash (13,580) (38,576)
Cash, cash equivalents and restricted cash, beginning of period 58,848 79,765
Cash, cash equivalents and restricted cash, end of period 45,268 41,189
Supplemental cash flow disclosures    
Cash paid for interest 0 154
Cash paid for income taxes 11,383 1,896
Property and equipment purchases not paid 48 3
Right-of-use assets obtained in exchange for new operating lease liabilities 924 0
Accrued purchase consideration 5,101 0
Unrealized gain (loss) on short-term investments $ 1,698 $ (1,179)