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 income (loss) $ 42,440 $ (87,207)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 99,403 105,383
Non-cash reduction to the right-of-use asset 10,516 10,064
Net amortization of investment premium and discount (8,182) (12,572)
Stock-based compensation 288,524 306,263
Amortization of deferred commissions 38,387 37,788
Provision for doubtful accounts 3,686 14,365
Share of losses from equity method investment 44,693 53,515
Other adjustments 8,500 8,591
Changes in operating assets and liabilities:    
Accounts receivable (3,112) 11,094
Prepaid expenses and other current assets 84,662 19,752
Other long-term assets (51,420) 2,396
Accounts payable (24,323) (59,027)
Accrued expenses and other current liabilities (40,086) 23,655
Deferred revenue and customer deposits (7,671) (5,755)
Operating lease liabilities (18,693) (24,177)
Other long-term liabilities 802 (662)
Net cash provided by operating activities 468,126 403,466
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities and other investments (408,836) (589,995)
Proceeds from sales and maturities of marketable securities 818,034 1,592,970
Capitalized software development costs (24,152) (25,835)
Purchases of long-lived and intangible assets (2,167) (2,756)
Net cash provided by investing activities 382,879 974,384
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on finance leases (4,228) (7,060)
Value of equity awards withheld for tax liabilities (138) (1,963)
Repurchases of shares of Class A common stock and related costs (323,249) (1,273,699)
Proceeds from exercises of stock options and shares of Class A common stock issued under ESPP 25,907 21,700
Net cash used in financing activities (301,708) (1,261,022)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 549,297 116,828
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period 431,437 655,931
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 980,734 772,759
Cash paid for income taxes, net 13,088 19,473
Cash paid for interest 18,813 19,007
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONDENSED CONSOLIDATED BALANCE SHEETS    
Cash and cash equivalents 969,229 755,065
Restricted cash in other current assets 0 7,554
Restricted cash in other long-term assets 11,505 10,140
Total cash, cash equivalents and restricted cash $ 980,734 $ 772,759