v3.26.1
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) $ 59,066 $ (8,750)
Adjustments to reconcile net income (loss) to net cash flows provided by operating activities:    
Depreciation, amortization and write-offs 16,072 20,682
Share-based compensation expenses 14,195 15,517
Net loss (gain) from financing expenses 209 (1,038)
Revaluation of the Warrants liability (396) (1,726)
Amortization of loan and credit facility issuance costs 184 413
Loss on extinguishment of debt 0 6,597
Commercial agreement asset amortization 4,037 4,037
Change in operating assets and liabilities:    
Decrease in trade receivables, net [1] 50,257 65,196
Decrease in prepaid expenses and other current assets and long-term prepaid expenses 16,257 4,434
Decrease in trade payables [2] (42,229) (31,758)
Decrease in accrued expenses and other current liabilities and other long-term liabilities (7,523) (22,196)
Increase in deferred taxes, net (1,507) (3,120)
Change in operating lease right of use assets 7,040 6,211
Change in operating lease liabilities (7,007) (6,388)
Net cash provided by operating activities 108,655 48,111
Cash flows from investing activities    
Purchase of property and equipment (18,374) (12,041)
Proceeds from maturities of short-term investments 0 3,780
Net cash used in investing activities (18,374) (8,261)
Cash flows from financing activities    
Issuance costs 0 (663)
Exercise of options 997 705
Payment of tax withholding for share-based compensation expenses (2,575) (842)
Repurchase of Ordinary shares and non-voting Ordinary shares (22,691) (49,342)
Payments on account of repurchase of Ordinary shares (493) (2,355)
Repayments of Long-Term Debt 0 122,736
Repayment of long-term loan 0 (123,985)
Proceeds from Long-Term Lines of Credit 109,000 0
Repayments of Lines of Credit (144,900) 0
Net cash used in financing activities (60,662) (51,248)
Exchange rate differences on balances of cash and cash equivalents (209) 1,038
Increase (decrease) in cash and cash equivalents 29,410 (10,360)
Cash and cash equivalents - at the beginning of the period 120,865 226,583
Cash and cash equivalents - at end of the period 150,275 216,223
Cash paid during the year for:    
Income taxes 2,595 3,764
Interest 1,491 2,189
Non-cash investing and financing activities:    
Purchase of property and equipment 617 1,895
Share-based compensation included in capitalized internal-use software 468 279
Exercise of options 485 92
Creation and modification of operating lease right-of-use assets and operating lease liability $ 401 $ 28,922
[1] (1) Includes an (increase) decrease in related party trade receivables of $(12,103) and $28,093, for the three months ended March 31, 2026 and 2025, respectively
[2]
(2) Includes an increase (decrease) in related party trade payables of $279 and $(10,723), for the three months ended March 31, 2026 and 2025, respectively.