v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income (loss) $ 7,826 $ (54,078)
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Stock-based compensation 113,756 103,870
Depreciation and amortization 59,972 54,092
Accretion of discounts on marketable debt securities, net (1,712) (4,295)
Abandonment of long-lived assets 1,884 2,455
Gain on lease modifications (5,775) 0
Noncash operating lease expense 3,475 2,929
Unrealized foreign currency loss (gain), net 3,136 (2,150)
Deferred income taxes (4,192) 1,568
Benefit from credit losses (94) (966)
(Increase) decrease in fair value of strategic investments (6,590) 183
Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinations    
Accounts receivable 46,805 54,618
Deferred contract cost assets (15,699) (20,175)
Prepaid expenses and other assets (6,573) (9,236)
Accounts payable 8,188 (12,973)
Accrued expenses and other liabilities (21,780) 11,632
Deferred revenue (15,739) (28,309)
Operating lease liabilities (2,259) (2,309)
Net cash provided by operating activities 164,629 96,856
Investing activities    
Purchases of property and equipment (9,943) (7,008)
Capitalized software development costs (34,117) (32,557)
Purchases of strategic investments (366) (902)
Sales of strategic investments 372 0
Purchases of marketable securities 0 (218,606)
Maturities of marketable securities 63,111 223,659
Sales of marketable securities 106,731 0
Business combinations, net of cash acquired (158,896) (41,515)
Asset acquisitions, net of cash acquired 0 (3,533)
Net cash used in investing activities (33,108) (80,462)
Financing activities    
Proceeds from stock option exercises 4,416 7,607
Proceeds from employee stock purchase plan 13,007 14,404
Repurchases of common stock (100,035) (103,160)
Payment of tax withholding for net share settlement (30,513) (49,855)
Payment of deferred asset acquisition consideration (300) 0
Principal payments under finance lease agreements, net of proceeds from lease incentives (728) (800)
Net increase in funds held for customers 22,139 0
Net cash used in financing activities (92,014) (131,804)
Net increase (decrease) in cash and cash equivalents 39,507 (115,410)
Effect of exchange rate changes on cash (3,681) 1,950
Cash, cash equivalents, and restricted cash, beginning of period 490,246 437,722
Cash, cash equivalents, and restricted cash, end of period 526,072 324,262
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]    
Cash and cash equivalents 494,392 324,262
Restricted cash included in prepaid expenses and other current assets at end of period 590 0
Restricted cash for funds held for customers included in prepaid expenses and other current assets at end of period 31,090 0
Total cash, cash equivalents, and restricted cash at end of period shown in the condensed consolidated statements of cash flows 526,072 324,262
Supplemental disclosure of cash flow information    
Cash paid for income taxes, net of refunds received 3,246 2,908
Stock-based compensation capitalized for cloud-computing arrangement costs 228 94
Cash received for lease incentives 1,685 324
Operating cash flows from finance leases 445 564
Operating cash flows from operating leases 7,801 3,255
Financing cash flows from finance leases 728 800
Noncash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued expenses at period end 3,454 1,579
Capitalized software development costs included in accounts payable and accrued expenses at period end 5,627 3,179
Stock-based compensation capitalized for software development 8,907 9,089
Deferred asset acquisition payment included in other current liabilities and accrued expenses at period end 300 635
Excise taxes related to repurchases of common stock included in other current liabilities at period end 208 0
Strategic investments included in accounts payable and accrued expenses at period end 455 0
Right of use assets obtained or modified in exchange for operating lease liabilities 14,998 7,140
Financing lease right of use asset modified to operating lease $ (18,835) $ (10,305)