v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income (loss) $ 52,008 $ (38,536) $ (65,384)
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Amortization of deferred implementation, solution and other costs 30,086 27,038 25,848
Depreciation and amortization 53,424 68,809 71,707
Amortization of debt issuance costs 2,111 2,059 2,104
Amortization of premiums and discounts on investments (1,098) (1,273) (3,192)
Stock-based compensation expense 86,949 89,215 79,188
Deferred income taxes 1,236 2,106 636
Gain on extinguishment of debt 0 0 (19,312)
Lease impairments (43) 1,669 4,075
Other non-cash items 696 (490) 311
Changes in operating assets and liabilities:      
Accounts receivable, net (9,936) 906 4,090
Prepaid expenses and other current assets (3,344) (12,000) (787)
Deferred solution and other costs (9,750) (14,202) (17,412)
Deferred implementation costs (18,158) (17,663) (14,954)
Contract assets, net (5,327) 4,030 3,693
Other long-term assets 5,246 7,282 5,576
Accounts payable 8,581 (9,788) 9,353
Accrued liabilities 1,851 5,968 (492)
Deferred revenues 16,840 28,918 (3,092)
Deferred rent and other long-term liabilities (9,911) (8,297) (11,664)
Net cash provided by operating activities 201,461 135,751 70,292
Cash flows from investing activities:      
Purchases of investments (94,103) (95,788) (76,865)
Maturities of investments 118,168 103,739 220,776
Purchases of property and equipment (6,810) (6,692) (5,673)
Capitalized software development costs (21,283) (22,339) (24,970)
Net cash provided by (used in) investing activities (4,028) (21,080) 113,268
Cash flows from financing activities:      
Repurchases of common shares (5,000) 0 0
Payment for maturity of convertible notes (191,000) 0 (10,908)
Payment for repurchases of convertible notes 0 0 (149,640)
Proceeds from capped calls related to convertible notes 0 0 139
Debt issuance costs related to revolving credit agreement 0 (942) 0
Proceeds from exercise of stock options and ESPP 7,028 14,259 8,397
Net cash provided by (used in) financing activities (188,972) 13,317 (152,012)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 49 (827) 182
Net increase in cash, cash equivalents and restricted cash 8,510 127,161 31,730
Cash, cash equivalents and restricted cash, beginning of period 360,793 233,632 201,902
Cash, cash equivalents and restricted cash, end of period 369,303 360,793 233,632
Supplemental disclosures of cash flow information:      
Cash paid for interest 2,845 2,680 2,651
Supplemental disclosure of non-cash investing and financing activities:      
Stock-based compensation for capitalized software development 1,911 2,882 3,149
Property and equipment acquired and included in accounts payable and accrued liabilities 4,936 341 478
Property and equipment acquired through tenant improvement allowance $ 0 $ 615 $ 0