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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 5,648 $ 77,849 $ 32,194
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 86,931 72,990 61,067
Loss on disposal of property and equipment 678 433 267
Share-based compensation expense 68,247 53,160 44,697
Deferred income taxes (37,316) (3,272) (6,546)
Amortization of operating lease right-of-use assets 12,238 11,941 10,528
Impairment and abandonment of operating lease right-of-use assets related to facilities 9,382 0 0
Impairment of externally and internally developed capitalized software, net 1,275 0 0
Amortization of debt issuance costs 4,164 3,440 1,597
Amortization of discount on convertible senior notes 0 18,608 4,766
Changes in operating assets and liabilities:      
Accounts receivable and unbilled receivables (60,357) (40,973) 36,842
Inventories (30,115) (25,695) 12,359
Prepaid expenses (4,671) (5,678) (2,081)
Other current assets 6,360 2,801 (6,408)
Investment in sales-type leases (15,354) 3,346 (2,882)
Prepaid commissions 4,312 (6,876) (8,057)
Other long-term assets 5,027 (3,258) (7,675)
Accounts payable (7,754) 29,084 (6,300)
Accrued compensation 2,446 12,312 11,595
Accrued liabilities 16,651 34,859 4,374
Deferred revenues 24,469 24,179 7,620
Operating lease liabilities (13,781) (12,503) (9,543)
Other long-term liabilities (699) (14,938) 7,456
Net cash provided by operating activities 77,781 231,809 185,870
Investing Activities      
Software development for external use (13,204) (29,368) (32,024)
Purchases of property and equipment (47,536) (28,967) (22,842)
Business acquisitions, net of cash acquired (3,392) (354,163) (225,000)
Purchase price adjustments from business acquisitions 5,463 0 0
Net cash used in investing activities (58,669) (412,498) (279,866)
Financing Activities      
Proceeds from revolving credit facility 0 0 150,000
Repayment of debt and revolving credit facility 0 0 (200,000)
Payments for debt issuance costs for revolving credit facility 0 0 (550)
Proceeds from issuance of convertible senior notes, net of issuance costs 0 0 559,665
Purchase of convertible note hedge 0 0 (100,625)
Proceeds from sale of warrants 0 0 51,290
Proceeds from issuances under stock-based compensation plans 40,182 67,348 54,270
Employees’ taxes paid related to restricted stock units (13,506) (16,286) (8,738)
Stock repurchases (52,210) 0 (53,035)
Change in customer funds, net 4,581 (3,699) 3,992
Net cash provided by (used in) financing activities (20,953) 47,363 456,269
Effect of exchange rate changes on cash and cash equivalents (944) (974) 437
Net increase (decrease) in cash, cash equivalents, and restricted cash (2,785) (134,300) 362,710
Cash, cash equivalents, and restricted cash at beginning of period 355,620 489,920 127,210
Cash, cash equivalents, and restricted cash at end of period 352,835 355,620 489,920
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets:      
Cash and cash equivalents 330,362 349,051 485,928
Restricted cash included in other current assets 22,473 6,569 3,992
Cash, cash equivalents, and restricted cash at end of period 352,835 355,620 489,920
Supplemental cash flow information      
Cash paid for interest 1,438 1,917 522
Income taxes paid (refunds received), net 19,005 (1,733) 10,343
Supplemental disclosure of non-cash investing activities      
Unpaid purchases of property and equipment 892 883 405
Transfers between inventory and property and equipment, net $ 314 $ 1,876 $ 0