v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income attributable to common stockholders $ 51,208 $ 75,231
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 96,629 61,975
Stock-based compensation 55,231 40,513
Provision for expected credit losses 8,078 8,607
Loss on extinguishment of debt, net 2,700 269
Operating lease right-of-use assets and liabilities, net (30,810) (13,816)
Non-cash interest expense 2,960 4,005
Other 3,476 (7,853)
Changes in operating assets and liabilities:    
Accounts receivable (32,230) (17,064)
Prepaid expenses and other current assets (53,906) 1,201
Accounts payable and accrued expenses 6,536 (3,029)
Deferred revenue 47,157 5,867
Other assets and liabilities (140) 631
Net cash provided by operating activities 156,889 156,537
Investing activities    
Capital expenditures - property and equipment (81,576) (95,160)
Capital expenditures - internal-use software (11,785) (3,412)
Acquisition of equipment under financing arrangements (51,544) 0
Purchase of intangible assets (754) (1,835)
Cash paid for acquisition of businesses, net of cash acquired (4,042) 0
Net cash used in investing activities (149,701) (100,407)
Financing activities    
Proceeds from follow-on public offering, net of underwriting discounts and issuance costs 887,888 0
Principal repayment of Term Loan Facility (500,000) 0
Proceeds from drawdown of Term Loan Facility 120,000 0
Payment of debt issuance costs 0 (4,081)
Proceeds related to issuance of common stock under equity incentive plan 3,558 2,771
Proceeds from issuance of common stock under employee stock purchase plan 2,494 2,660
Employee payroll taxes paid related to net settlement of equity awards (38,406) (16,294)
Proceeds from financing arrangements 51,544 0
Principal repayments of finance leases and financing arrangements (21,651) (2,733)
Repurchase and retirement of common stock including related costs 0 (79,199)
Net cash provided by (used in) financing activities 505,427 (96,876)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (66) 45
Increase (decrease) in cash, cash equivalents and restricted cash 512,549 (40,701)
Cash, cash equivalents and restricted cash - beginning of period 254,633 430,193
Cash, cash equivalents and restricted cash - end of period 767,182 389,492
Supplemental disclosures of cash flow information:    
Cash paid for interest 14,349 249
Cash paid for taxes, net of refunds 2,524 5,757
Operating cash flows paid for operating leases 77,925 72,310
Non-cash investing and financing activities:    
Capitalized stock-based compensation 2,021 875
Property and equipment received but not yet paid, included in accounts payable and accrued other expenses 20,434 32,038
Operating right-of-use assets obtained in exchange for operating lease liabilities 273,823 123,637
Finance right-of-use assets obtained in exchange for finance lease liabilities $ 414,902 $ 636