v3.25.2
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net loss $ (25,051) $ (8,501)
Adjustments to reconcile net (loss) income to net cash and cash equivalents provided by operating activities, net of acquisitions    
Depreciation and amortization 62,024 43,438
Stock-based compensation 257,668 240,116
Gain on strategic investments (1,869) (18,456)
Impairment of strategic investments 1,600 4,094
Provision for (benefit from) deferred income taxes (214) (212)
Amortization of debt discount and issuance costs 577 1,002
Accretion of bond discount (24,443) (23,080)
Unrealized currency translation (2,777) (948)
Changes in assets and liabilities    
Accounts receivable 30,030 18,422
Prepaid expenses and other assets (50,080) (27,228)
Deferred commission expense (49,590) (40,084)
Right-of-use assets 12,828 20,384
Accounts payable 9,121 (218)
Accrued expenses and other liabilities 59,876 15,049
Operating lease liabilities (17,656) (23,153)
Deferred revenue 63,888 44,291
Net cash and cash equivalents provided by operating activities 325,932 244,916
Investing Activities:    
Purchases of investments (830,204) (651,717)
Maturities of investments 1,305,509 849,595
Purchases of property and equipment (29,370) (14,082)
Purchases of strategic investments (18,825) (3,627)
Purchases of intangible assets (256)  
Capitalization of software development costs (65,857) (43,075)
Proceeds from net working capital settlement   1,933
Business acquisitions, net of cash acquired (69,833)  
Net cash and cash equivalents provided by investing activities 291,164 139,027
Financing Activities:    
Employee taxes paid related to the net share settlement of stock-based awards (13,812) (13,484)
Payment for settlement of 2025 Convertible Notes (459,811)  
Proceeds related to the issuance of common stock under stock plans 38,664 45,244
Repurchases of common stock (125,004)  
Net cash and cash equivalents (used in) provided by financing activities (559,963) 31,760
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 30,046 (5,815)
Net increase in cash, cash equivalents and restricted cash 87,179 409,888
Cash, cash equivalents and restricted cash, beginning of period 516,720 392,040
Cash, cash equivalents and restricted cash, end of period 603,899 801,928
Supplemental cash flow disclosure:    
Cash paid for income taxes 10,640 7,165
Cash paid for interest 422 861
Right-of-use assets obtained in exchange for operating lease liabilities 1,242 503
Non-cash investing and financing activities:    
Capital expenditures incurred but not yet paid 555 $ 2,008
Settlement of Capped Call Options related to the 2025 Convertible Notes $ 50,600