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) $ (23,708) $ 148,451
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation expense 403 344
Stock-based compensation expense 6,199 8,863
Non-cash lease expense 636 584
Changes in operating assets and liabilities:    
Accounts receivable 3,167 (14,549)
Prepaid expenses and other current assets 15,672 4,543
Other assets 0 1,593
Accounts payable (108) 2,019
Right-of-use assets and operating lease liabilities (572) (448)
Deferred revenue 0 3,308
Current tax liability 0 10,043
Accrued expenses and other current liabilities (5,218) (3,580)
Net cash provided by (used in) operating activities (3,529) 161,171
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (73) (565)
Net cash used in investing activities (73) (565)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of direct expenses associated with the treasury stock repurchase (2,323) 0
Proceeds from exercise of stock options 7 4
Net cash provided by (used in) financing activities (2,316) 4
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (5,918) 160,610
Cash, cash equivalents and restricted cash at beginning of period 288,864 561,380
Cash, cash equivalents and restricted cash at end of period 282,946 721,990
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Property and equipment purchases in accounts payable and accrued expenses 0 15
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 281,497 720,541
Restricted cash 1,449 1,449
Total cash, cash equivalents and restricted cash $ 282,946 $ 721,990