v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities:      
Net income (loss) $ 45,911 $ 4,628 $ (164,510)
Adjustments to reconcile net income (loss) to net cash and cash equivalents provided by operating activities, net of acquisitions      
Depreciation and amortization 136,295 96,828 72,673
Stock-based compensation 528,153 504,770 432,271
Restructuring charges     67,263
Gain on strategic investments (5,500) (21,245)  
Impairment of strategic investments 5,923 5,306 1,704
(Benefit from) provision for deferred income taxes (2) 2,690 550
Amortization of debt discount and issuance costs 577 2,012 1,986
Accretion of bond discount (40,468) (51,676) (42,907)
Unrealized currency translation (5,692) (1,550) (341)
Changes in assets and liabilities, net of acquisition      
Accounts receivable (64,003) (48,428) (57,618)
Prepaid expenses and other assets (34,060) (4,415) (47,048)
Deferred commission expense (117,032) (96,687) (81,178)
Right-of-use assets 25,894 32,297 29,173
Accounts payable 18,999 (4,577) (14,031)
Accrued expenses and other current liabilities 117,971 89,129 79,947
Operating lease liabilities (36,124) (41,521) (36,889)
Deferred revenue 183,875 131,038 109,926
Net cash and cash equivalents provided by operating activities 760,717 598,599 350,971
Investing Activities:      
Purchases of investments (1,443,998) (1,993,610) (1,580,504)
Maturities of investments 2,237,387 1,658,601 1,502,534
Sale of investments   1,997  
Purchases of property and equipment (53,165) (37,939) (33,718)
Capitalization of software development costs (130,624) (89,636) (66,372)
Purchases of intangible assets (274) (1,231) (164)
Business acquisitions, net of cash acquired (87,608) (40,438) (142,129)
Proceeds from net working capital settlement   1,933  
Proceeds from strategic investments 2,738    
Purchases of strategic investments (32,683) (15,538) (14,413)
Net cash and cash equivalents provided by (used in) investing activities 491,773 (515,861) (334,766)
Financing Activities:      
Repayment of 2025 Convertible Notes (459,811) (57) (13)
Employee taxes paid related to the net share settlement of stock-based awards (21,573) (21,949) (10,714)
Proceeds related to the issuance of common stock under stock plans 71,394 75,501 47,738
Repurchases of common stock (500,019)    
Net cash and cash equivalents (used in) provided by financing activities (910,009) 53,495 37,011
Effect on exchange rate changes on cash and cash equivalents 25,744 (11,553) 4,649
Net increase in cash, cash equivalents and restricted cash 368,225 124,680 57,865
Cash, cash equivalents and restricted cash, beginning of year 516,720 392,040 334,175
Cash, cash equivalents and restricted cash, end of year 884,945 516,720 392,040
Supplemental cash flow disclosure:      
Cash paid for interest 422 1,721 1,722
Cash paid for income taxes 19,311 12,187 12,911
Right-of-use assets obtained in exchange for operating lease facilities 1,297 2,593 7,059
Right-of-use asset reductions related to operating lease terminations     (7,382)
Non-cash investing and financing activities:      
Capital expenditures incurred but not yet paid 3,389 $ 1,703 1,068
Settlement of Capped Call Options related to the 2025 Convertible Notes $ 50,600    
Asset retirement obligations     $ (199)