v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 56,497 $ 16,517
Adjustments to reconcile net income to net cash from operating activities:    
Amortization of deferred implementation, solution and other costs 15,091 14,566
Depreciation and amortization 23,802 27,275
Amortization of debt issuance costs 721 1,086
Amortization of premiums and discounts on investments (20) (835)
Stock-based compensation expense 40,823 43,510
Deferred income taxes (30) (1,303)
Lease restructuring and impairments 278 54
Other non-cash items (864) 92
Changes in operating assets and liabilities:    
Accounts receivable, net (19,035) (18,208)
Prepaid expenses and other current assets 8,221 3,235
Deferred solution and other costs (11,266) (6,782)
Deferred implementation costs (12,758) (9,211)
Contract assets, net (2,146) (1,958)
Other long-term assets 1,383 3,457
Accounts payable (1,332) (4,244)
Accrued liabilities (6,917) (8,600)
Deferred revenues 29,150 39,734
Deferred rent and other long-term liabilities (4,623) (6,213)
Net cash provided by operating activities 116,975 92,172
Cash flows from investing activities:    
Purchases of investments (113) (66,168)
Maturities of investments 58,743 37,195
Purchases of property and equipment (8,301) (2,095)
Capitalized software development costs (13,479) (10,549)
Net cash provided by (used in) investing activities 36,850 (41,617)
Cash flows from financing activities:    
Repurchases of common shares (120,081) 0
Payment for maturity of convertible notes (303,995) 0
Proceeds from exercise of stock options and ESPP 3,617 4,218
Net cash provided by (used in) financing activities (420,459) 4,218
Effect of exchange rate changes on cash, cash equivalents and restricted cash (534) 451
Net increase (decrease) in cash, cash equivalents and restricted cash (267,168) 55,224
Cash, cash equivalents and restricted cash, beginning of period 369,303 360,793
Cash, cash equivalents and restricted cash, end of period 102,135 416,017
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment acquired and included in accounts payable and accrued liabilities 484 1,182
Stock-based compensation for capitalized software development $ 950 $ 1,074