v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Unaudited - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net Income (Loss) $ (558,512) $ (39,390)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,646 3,168
Stock-based compensation 590,990 610
Amortization of deferred commissions 19,870 13,411
Accretion of discounts and amortization of premiums on marketable securities, net 326 217
Excess and obsolete inventory charge 0 1,812
Non-cash operating lease expense 1,688 1,833
Provision for credit losses 2,780 2,487
Deferred income taxes 96  
Other (2) (3)
Changes in operating assets and liabilities:    
Accounts receivable (59,584) (23,281)
Deferred commissions (27,650) (18,171)
Inventory (3,114) 1,137
Prepaid expenses and other current assets (6,609) 1,295
Other assets (485) 239
Accounts payable and accrued liabilities 6,997 (7,661)
Operating lease liabilities (1,792) (2,372)
Deferred revenue 57,505 46,934
Net cash provided by (used in) operating activities 25,150 (17,735)
Investing activities    
Purchase of property and equipment (248) (567)
Capitalized internal use software (2,336) (1,316)
Purchases of marketable securities (175,282) (160,768)
Maturities of marketable securities 164,556 181,550
Acquisition of a business (4,000)  
Net cash provided by (used in) investing activities (17,310) 18,899
Financing activities    
Proceeds from exercise of common stock options 256 277
Proceeds from issuance of common stock in initial public offering, net of issuance costs 255,675  
Tax withholdings on settlement of restricted stock units and performance-based restricted stock units (272,258)  
Payment on Repurchase Agreement with Coatue (50,000)  
Proceeds from repayment of non-recourse loans to employees 4,934  
Payments for deferred offering costs (10,061) (125)
Net cash provided by (used in) financing activities (71,454) 152
Net increase (decrease) in cash (63,614) 1,316
Cash, cash equivalents and restricted cash, beginning of period 302,586 237,474
Cash, cash equivalents and restricted cash, end of period 238,972 238,790
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 237,170 236,628
Restricted cash 1,802 2,162
Total cash, cash equivalents and restricted cash 238,972 238,790
Supplemental disclosures of noncash operating activities    
Cash paid for income taxes 199 207
Supplemental disclosures of noncash investing and financing activities    
Property and equipment purchased and unpaid at period end   366
Unpaid deferred offering costs at period end 538 $ 361
Right-of use assets obtained in exchange for lease obligations 686  
Conversion of redeemable convertible preferred stock for Coatue in connection with initial public offering 150,694  
Conversion of redeemable convertible preferred stock for all other in connection with initial public offering 346,530  
Adjustment to reflect deemed contribution from Series D and E redeemable convertible preferred stock extinguishment $ 104,174