v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income (loss) $ 18,996 $ (21,371)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 2,516 2,893
Stock-based compensation expense 28,607 27,888
(Recovery of) provision for doubtful accounts (118) 12
Accretion of premiums and discounts on marketable securities, net (801) (1,695)
Amortization of debt discount and issuance costs 612 610
Gain on lease modification (307) 0
Deferred income tax (269) (64)
Changes in assets and liabilities:    
Accounts receivable 30,156 30,636
Deferred costs 2,878 4,093
Operating lease right-of-use assets 1,260 1,329
Other receivables 2,439 994
Prepaid expenses and other (5,221) (5,653)
Other assets 1,233 (648)
Accounts payable 1,971 6,651
Deferred revenue (33,255) (18,438)
Operating lease liabilities (1,167) (831)
Accrued expenses and other liabilities (23,054) (33,764)
Net cash provided by (used in) operating activities 26,476 (7,358)
Cash flows from investing activities    
Purchase of property and equipment (728) (763)
Purchase of marketable securities (91,501) (102,965)
Maturities of marketable securities 114,350 94,614
Acquisitions, net of cash acquired (750) 0
Purchase of intangible assets (26) (19)
Net cash provided by (used in) investing activities 21,345 (9,133)
Cash flows from financing activities    
Proceeds from option exercises 729 631
Taxes paid related to net share settlements of stock-based compensation awards (8,662) (12,922)
Proceeds from shares issued in connection with employee stock purchase plan 8,052 7,535
Repurchases of Class A common stock (50,000) (40,118)
Principal payments on finance lease obligations (150) (138)
Net cash used in financing activities (50,031) (45,012)
Effect of foreign exchange rates on cash (2,299) 1,889
Net decrease in cash, cash equivalents, and restricted cash (4,509) (59,614)
Cash, cash equivalents, and restricted cash at beginning of period 339,481 302,350
Cash, cash equivalents, and restricted cash at end of period 334,972 242,736
Supplemental cash flow disclosure    
Cash paid for interest 4,976 4,979
Cash paid for income taxes, net of refunds 1,923 3,029
Noncash investing and financing activities    
Purchases of property and equipment, accrued but not paid 0 442
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets    
Cash and cash equivalents at end of period 334,260 242,024
Restricted cash included within prepaid expenses and other at end of period 712 712
Total cash, cash equivalents, and restricted cash at end of period shown in the consolidated statements of cash flows $ 334,972 $ 242,736