Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
Mar. 31, 2026	Mar. 31, 2025
Operating activities:
Net income	$ 29.3	$ 26.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	21.4	22.1
Amortization of debt discounts and issuance costs	0.6	0.6
Amortization of deferred commissions costs	24.3	21.4
Asset impairments and lease abandonment charges	4.0	0.0
Equity-based compensation expense	25.5	29.6
Deferred income taxes	15.1	11.2
Tax receivable agreement remeasurement	(1.4)	1.2
Provision for bad debt expense	5.9	4.3
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	35.9	37.9
Prepaid expenses and other current assets	(0.5)	(4.2)
Deferred costs and other assets, net of current portion	(17.5)	(16.1)
Accounts payable	(8.5)	(1.9)
Accrued expenses and other liabilities	(20.9)	(20.2)
Unearned revenue	1.5	6.5
Net cash provided by operating activities	114.7	119.2
Investing activities:
Purchases of investments	(0.5)	(4.0)
Maturities of investments	0.5	0.0
Purchases of property and equipment and other assets	(24.1)	(14.8)
Right-of-use asset initial direct costs	(1.9)	0.0
Net cash used in investing activities	(26.0)	(18.8)
Financing activities:
Repayment of debt	(1.5)	(1.5)
Taxes paid related to net share settlement of equity awards	(0.8)	(5.4)
Repurchase of common stock	(90.9)	(95.0)
Net cash used in financing activities	(93.2)	(101.9)
Net decrease in cash, cash equivalents, and restricted cash	(4.5)	(1.5)
Cash, cash equivalents, and restricted cash at beginning of period	185.7	149.0
Cash, cash equivalents, and restricted cash at end of period	181.2	147.5
Cash, cash equivalents, and restricted cash at end of period:
Cash and cash equivalents	171.2	138.5
Restricted cash, non-current	10.0	9.0
Total cash, cash equivalents, and restricted cash	181.2	147.5
Supplemental disclosures of cash flow information:
Interest paid in cash	20.6	16.8
Supplemental disclosures of non-cash investing activities:
Property and equipment included in accounts payable and accrued expenses and other current liabilities	9.2	5.2
Equity-based compensation included in capitalized software	$ 1.4	$ 1.1

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- Definition

The amount of expense recognized in the current period for the periodic realization of capitalized fees that were paid to salespeople, distributors, brokers, and agents at the time of the conclusion of the sale. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.