v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]    
Net income $ 15,059 $ 16,898
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred tax expense 11 2,877
Non-cash interest income 0 (190)
Depreciation and amortization 1,108 716
Loss on disposal of property and equipment 79 0
Stock-based compensation expense 32,512 31,052
Bad debt expense 5,659 4,772
Net accretion of discounts on marketable securities 1,106 (3,395)
Foreign currency exchange rate loss 0 35
Changes in operating assets and liabilities:    
Accounts receivable (69,732) (60,118)
Prepaid expenses and other current assets (2,383) 15,169
Accounts payable 49,618 4,790
Accrued expenses and other current liabilities 17,509 12,995
Other noncurrent assets and liabilities (738) 131
Net cash provided by operating activities 49,808 25,732
INVESTING ACTIVITIES    
Purchase of property and equipment, net (2,843) (850)
Purchase of marketable securities (145,809) (110,806)
Sale of marketable securities 63,382 131,000
Acquisition of business, net of cash acquired (9,340) 0
Net cash (used in) provided by investing activities (94,610) 19,344
FINANCING ACTIVITIES    
Repurchase of common stock 0 (23,764)
Proceeds from exercise of stock options 39 962
Payment of employee taxes related to equity awards (3,583) (4,959)
Proceeds from contributions to employee stock purchase plan 256 350
Net cash used in financing activities (3,288) (27,411)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 15 (2)
Net (decrease) increase in cash, cash equivalents, and restricted cash (48,075) 17,663
Cash, cash equivalents, and restricted cash, beginning of period 162,314 97,296
Cash, cash equivalents, and restricted cash, end of period 114,239 114,959
Cash and cash equivalents 109,239 114,959
Restricted cash included within noncurrent assets 5,000 0
Total cash, cash equivalents, and restricted cash 114,239 114,959
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes, net of refunds received 400 (362)
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Additions of property and equipment, net included in accounts payable and accrued expenses $ 1,246 $ 155