v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income attributable to common stockholders $ 15,771 $ 38,204
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 45,475 29,210
Stock-based compensation 22,507 19,432
Provision for expected credit losses 3,492 4,197
Loss on extinguishment of debt, net 2,700 0
Operating lease right-of-use assets and liabilities, net (11,465) (7,192)
Non-cash interest expense 1,527 2,003
Other 1,829 (2,091)
Changes in operating assets and liabilities:    
Accounts receivable (18,028) (8,319)
Prepaid expenses and other current assets (15,886) (1,255)
Accounts payable and accrued expenses (11,188) (11,492)
Deferred revenue 400 245
Other assets and liabilities 9,787 1,148
Net cash provided by operating activities 46,921 64,090
Investing activities    
Capital expenditures - property and equipment (39,992) (61,963)
Capital expenditures - internal-use software (4,740) (2,029)
Acquisition of equipment under financing arrangements (11,807) 0
Purchase of intangible assets 0 (983)
Cash paid for acquisition of businesses, net of cash acquired (4,042) 0
Net cash used in investing activities (60,581) (64,975)
Financing activities    
Proceeds from follow-on public offering, net of underwriting discounts and issuance costs 888,778 0
Principal repayment of Term Loan Facility (500,000) 0
Proceeds from drawdown of Term Loan Facility 120,000 0
Proceeds related to issuance of common stock under equity incentive plan 993 1,941
Employee payroll taxes paid related to net settlement of equity awards (11,081) (8,718)
Proceeds from financing arrangements 11,807 0
Principal repayments of finance leases and financing arrangements (9,880) (1,350)
Repurchase and retirement of common stock including related costs 0 (59,052)
Net cash provided by (used in) financing activities 500,617 (67,179)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (70) 39
Increase (decrease) in cash, cash equivalents and restricted cash 486,887 (68,025)
Cash, cash equivalents and restricted cash - beginning of period 254,633 430,193
Cash, cash equivalents and restricted cash - end of period 741,520 362,168
Supplemental disclosures of cash flow information:    
Cash paid for interest 9,529 195
Cash paid for taxes, net of refunds 1,908 175
Operating cash flows paid for operating leases 40,351 34,129
Non-cash investing and financing activities:    
Capitalized stock-based compensation 804 569
Property and equipment received but not yet paid, included in accounts payable and accrued other expenses 47,882 26,032
Operating right-of-use assets obtained in exchange for operating lease liabilities 83,837 76,371
Finance right-of-use assets obtained in exchange for finance lease liabilities $ 134,238 $ 22