v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]    
Net income $ 32,171 $ 33,383
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred tax expense 23 5,522
Non-cash interest income 0 (77)
Depreciation and amortization 2,313 1,470
Loss on disposal of property and equipment 79 0
Stock-based compensation expense 64,895 64,088
Bad debt expense 11,017 9,572
Net accretion of discounts on marketable securities 27 (6,987)
Foreign currency exchange rate loss 0 30
Changes in operating assets and liabilities:    
Accounts receivable (47,166) (61,496)
Prepaid expenses and other current assets (7,946) 1,279
Accounts payable 45,207 26,396
Accrued expenses and other current liabilities 5,852 8,860
Other noncurrent assets and liabilities (1,154) 386
Net cash provided by operating activities 105,318 82,426
INVESTING ACTIVITIES    
Purchase of property and equipment, net (8,112) (1,716)
Purchase of marketable securities (200,088) (158,639)
Sale of marketable securities 93,015 271,099
Acquisition of business, net of cash acquired (9,340) (5,304)
Net cash (used in) provided by investing activities (124,525) 105,440
FINANCING ACTIVITIES    
Repurchase of common stock 0 (183,723)
Proceeds from exercise of stock options 18 988
Payment of employee taxes related to equity awards (6,195) (8,172)
Proceeds from contributions to employee stock purchase plan 560 707
Net cash used in financing activities (5,617) (190,200)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 52 (2)
Net decrease in cash, cash equivalents, and restricted cash (24,772) (2,336)
Cash, cash equivalents, and restricted cash, beginning of period 162,314 97,296
Cash, cash equivalents, and restricted cash, end of period 137,542 94,960
Cash and cash equivalents 132,506 94,960
Restricted cash included within noncurrent assets 5,036 0
Total cash, cash equivalents, and restricted cash 137,542 94,960
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes, net of refunds received 24,342 17,317
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Additions of property and equipment, net included in accounts payable and accrued expenses $ 468 $ 158