v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 131,592 $ 132,612
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 28,473 27,689
Stock-based compensation expense 46,732 35,579
Reduction in the carrying amount of operating lease right-of-use assets 14,018 12,489
Fair value mark-to-market on investments (3,054) (1,304)
Unrealized foreign currency exchange (gain)/loss, net (11,412) (3,314)
Deferred income tax benefit (4,930) (15,605)
Others, net 4,315 1,581
Change in operating assets and liabilities:    
Accounts receivable (93,298) (38,312)
Other current and non-current assets (27,781) (10,434)
Income taxes payable, net 31,392 4,202
Deferred revenue 7,303 2,426
Accrued employee costs (29,637) (31,278)
Accounts payable, accrued expenses and other liabilities 7,940 8,539
Operating lease liabilities (12,042) (12,250)
Net cash provided by operating activities 89,611 112,620
Cash flows from investing activities:    
Purchases of property and equipment (27,440) (27,366)
Proceeds from sale of property and equipment 166 180
Purchases of investments (137,311) (144,935)
Proceeds from redemption of investments 158,999 136,434
Investment in equity affiliate (600) (600)
Net cash used for investing activities (6,186) (36,287)
Cash flows from financing activities:    
Principal payments of finance lease liabilities (277) (247)
Proceeds from borrowings 175,000 50,000
Repayments of borrowings (92,500) (78,500)
Acquisition of treasury stock (186,605) (59,673)
Proceeds from issuance of common stock 3,620 3,868
Net cash used for financing activities (100,762) (84,552)
Effect of exchange rate changes (1,860) 7,346
Net decrease in cash, cash equivalents and restricted cash (19,197) (873)
Cash, cash equivalents and restricted cash at the beginning of the period 165,969 171,398
Cash, cash equivalents and restricted cash at the end of the period 146,772 170,525
Cash paid during the period for:    
Interest 8,934 8,216
Supplemental disclosure of non-cash investing and financing activities:    
Additions to property and equipment not yet paid 3,294 6,186
Assets acquired under finance lease $ 383 $ 633