v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net income $ 109,362 $ 106,567
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,125 2,982
Equity-based compensation 53,101 46,761
Gain on disposal of equipment (21) (124)
Deferred income taxes (4,957) (12,519)
Unrealized foreign currency loss 1,032 610
Changes in operating assets and liabilities:    
Accounts receivable, net 1,197 (11,153)
Other assets (7,416) (2,088)
Accounts payable, accrued and other liabilities (16,478) (18,082)
Income taxes (4,505) (7,043)
Deferred revenue 14,870 22,089
Net cash provided by operating activities 149,310 128,000
Investing activities:    
Purchase of property and equipment (4,871) (4,538)
Net cash used in investing activities (4,871) (4,538)
Financing activities:    
Repurchase of common stock (186,638) (189,546)
Net cash used in financing activities (186,638) (189,546)
Foreign currency impact on cash 6,562 (1,948)
Net change in cash and cash equivalents (35,637) (68,032)
Cash and cash equivalents at beginning of period 266,230 270,741
Cash and cash equivalents at end of period $ 230,593 $ 202,709