v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net loss $ (88,900) $ (50,621)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization expense 87,688 59,767
Non-cash operating lease costs 29,872 23,124
Amortization of deferred contract acquisition costs 47,296 36,991
Stock-based compensation expense 217,912 155,714
Amortization of debt issuance costs 2,189 1,980
Net accretion of discounts and amortization of premiums on available-for-sale securities (11,987) (24,028)
Deferred income taxes (480) (1,310)
Provision for bad debt 7,815 4,770
Other 3,227 291
Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinations:    
Accounts receivable, net 1,431 (6,715)
Contract assets (4,707) (1,876)
Deferred contract acquisition costs (58,998) (48,085)
Prepaid expenses and other current assets (46,339) (24,726)
Other noncurrent assets 4,312 1,941
Accounts payable (247) 15,996
Accrued expenses and other current liabilities 758 4,553
Accrued compensation (2,914) (4,299)
Operating lease liabilities (24,973) (25,031)
Deferred revenue 82,643 29,695
Other noncurrent liabilities (18) 263
Net cash provided by operating activities 245,580 148,394
Cash Flows from Investing Activities    
Purchases of property and equipment (145,786) (61,681)
Capitalized internal-use software (13,647) (12,831)
Asset acquisitions and business combinations, net of cash acquired (6,462) (13,977)
Purchases of available-for-sale securities (1,530,775) (790,675)
Maturities of available-for-sale securities 810,825 792,354
Other investing activities 382 18
Net cash used in investing activities (885,463) (86,792)
Cash Flows from Financing Activities    
Proceeds from settlement of the 2025 capped calls 309,616 0
Gross proceeds from issuance of 2030 convertible senior notes 2,000,000 0
Purchases of capped calls related to the 2030 convertible senior notes (283,400) 0
Cash paid for issuance costs on 2030 convertible senior notes (27,873) 0
Cash paid for issuance costs on revolving credit facility 0 (2,148)
Proceeds from the exercise of stock options 17,942 7,614
Proceeds from the early exercise of stock options 0 6
Proceeds from the issuance of common stock for employee stock purchase plan 13,057 10,455
Payment of tax withholding obligation on RSU settlement (18,217) (8,763)
Net cash provided by financing activities 2,011,125 7,164
Net increase in cash, cash equivalents, and restricted cash 1,371,242 68,766
Cash, cash equivalents, and restricted cash, beginning of period 154,214 91,224
Cash, cash equivalents, and restricted cash, end of period 1,525,456 159,990
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 9 63
Cash paid for income taxes, net of refunds 3,503 2,741
Cash paid for operating lease liabilities 32,378 22,788
Supplemental Disclosure of Non-cash Investing and Financing Activities:    
Stock-based compensation capitalized for software development 4,861 4,950
Accounts payable and accrued expenses related to property and equipment additions 51,090 14,243
Vesting of early exercised stock options 0 63
Indemnity holdback consideration associated with asset acquisitions and business combinations 0 2,023
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 46,270 22,870
Maturity of marketable securities in other current assets $ 0 $ 5,000