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 loss $ (10,892) $ (14,817)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 11,920 10,547
Stock-based compensation expense, net of amounts capitalized 13,464 16,574
Provision for bad debt 5,254 1,603
Other non-cash, net 821 704
Changes in operating assets and liabilities:    
Trade receivables (74,294) (75,714)
Other operating assets 41 (2,616)
Accounts payable 126,445 122,834
Other operating liabilities 3,751 7,509
Net cash provided by operating activities 76,510 66,624
Cash Flows from Investing Activities    
Net increase in finance receivables (3,363) (17,276)
Purchases of property and equipment (1,772) (1,346)
Capitalization of software costs (9,663) (8,731)
Purchases of marketable securities 0 (10,153)
Maturities and redemptions of marketable securities 0 6,638
Net cash used in investing activities (14,798) (30,868)
Cash Flows from Financing Activities    
Proceeds from long term debt 85,000 100,000
Payments towards long term debt (75,000) (56,500)
Proceeds from exercise of stock options 690 382
Payment of RSU tax withholdings in exchange for common shares surrendered by RSU holders (2,780) (11,808)
Other financing activities 0 (42)
Net cash provided by financing activities 7,910 32,032
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (149) 32
Net increase in cash, cash equivalents, and restricted cash 69,473 67,820
Cash, cash equivalents, and restricted cash, beginning of period 271,497 224,065
Cash, cash equivalents, and restricted cash, end of period 340,970 291,885
Non-cash investing and financing activities:    
Stock-based compensation included in capitalized software development costs 1,839 1,843
Purchase of property and equipment and internal use software in accounts payable $ 1,140 $ 1,490