v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (13,095) $ (30,449)
Adjustments to reconcile net loss to net cash flows provided by operating activities:    
Depreciation, amortization and write-off 44,387 51,183
Share-based compensation expenses 32,089 34,706
Net loss (gain) from financing expenses (4,675) 778
Revaluation of the Warrants liability (823) (3,887)
Amortization of loan and credit facility issuance costs 597 729
Amortization of premium and accretion of discount on short-term investments, net 0 83
Loss on extinguishment of debt 6,597 0
Commercial agreement asset amortization 8,119 0
Change in operating assets and liabilities:    
Decrease in trade receivables, net [1] 74,332 24,633
Decrease in prepaid expenses and other current assets and long-term prepaid expenses 2,717 14,990
Decrease in trade payables [2] (19,721) (11,897)
Increase (decrease) in accrued expenses and other current liabilities and other long-term liabilities (33,782) 1,578
Decrease in deferred taxes, net (4,809) (7,901)
Change in operating lease right of use assets 12,654 9,284
Change in operating lease liabilities (9,079) (11,206)
Net cash provided by operating activities 95,508 72,624
Cash flows from investing activities    
Purchase of property and equipment, including capitalized internal-use software (25,277) (18,222)
Business acquisition deferred payment 0 (719)
Proceeds from maturities of short-term investments 3,780 5,765
Net cash used in investing activities (21,497) (13,176)
Cash flows from financing activities    
Issuance costs (938) (695)
Exercise of options and vested RSUs 3,206 4,741
Payment of tax withholding for share-based compensation expenses (1,977) (1,687)
Repurchase of ordinary shares and non-voting ordinary shares (150,008) (54,465)
Payments on account of repurchase of ordinary shares (3,060) (474)
Repayment of Long term loan (122,736) 0
Proceeds from revolving credit line, net of issuance costs 123,985 0
Additional proceeds from revolving credit line 76,000 0
Repayment of revolving credit line (114,500) 0
Net cash used in financing activities (190,028) (52,580)
Exchange rate differences on balances of cash and cash equivalents 4,675 (778)
Increase (decrease) in cash and cash equivalents (111,342) 6,090
Cash and cash equivalents - at the beginning of the period 226,583 176,108
Cash and cash equivalents - at end of the period 115,241 182,198
Cash paid during the year for:    
Income taxes 14,207 9,600
Interest 3,955 7,294
Non-cash investing and financing activities:    
Purchase of property and equipment, including capitalized internal-use software 1,898 292
Share-based compensation included in capitalized internal-use software 727 1,306
Creation of operating lease right-of-use assets and operating lease liability $ 32,087 $ 3,676
[1] (1) Includes a decrease (increase) in related party trade receivables of $42,125 and $(30,935), for the six months ended June 30, 2025 and 2024, respectively
[2]
(2) Includes a (decrease) increase in related party trade payables of $(7,640) and $20,537, for the six months ended June 30, 2025 and 2024, respectively.