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) $ 189 $ (38,370)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 13,610 8,712
Non-cash operating lease costs 14,251 12,395
Amortization of deferred contract acquisition costs 20,434 13,830
Amortization of prepaid marketing expense 26,449 26,449
Gain on derecognition of asset retirement obligation 0 (588)
Loss on disposal of property and equipment 156 419
Bad debt expense 989 1,536
Stock-based compensation expense 93,150 83,731
Changes in operating assets and liabilities:    
Accounts receivable (19,668) (17,283)
Deferred contract acquisition costs (40,504) (22,628)
Prepaid expenses, prepaid taxes, and other assets (6,405) (4,504)
Accounts payable 12,325 9,204
Accrued expenses 11,030 (9,548)
Deferred revenue 16,294 18,214
Operating lease liabilities (12,741) (11,291)
Other non-current liabilities (1,402) (191)
Net cash provided by operating activities 128,157 70,087
Investing activities    
Acquisition of property and equipment (18,222) (4,745)
Capitalization of software development costs (8,004) (10,303)
Purchase of other non-current assets (505) 0
Net cash used in investing activities (26,731) (15,048)
Financing activities    
Proceeds from exercise of common stock options 797 1,466
Proceeds from exercise of warrants 7 7
Employee taxes paid related to net share settlement of stock-based awards (4,879) (8,948)
Payments for share repurchases (333,569) 0
Proceeds from employee stock purchase plan 3,982 6,103
Net cash used in financing activities (333,662) (1,372)
Net (decrease) increase in cash, cash equivalents, and restricted cash (232,236) 53,667
Cash, cash equivalents, and restricted cash, beginning of period 1,065,613 882,587
Cash, cash equivalents, and restricted cash, end of period 833,377 936,254
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 3,105 2,960
Non-cash investing and financing activities    
Recognition of prepaid marketing asset 16,200 16,200
Capitalization of stock-based compensation expense related to internal use software 1,947 2,587
Non-cash acquisition of property and equipment through tenant incentives 0 969
Accrued excise tax on share repurchases 3,356 0
Accrued shares repurchased 4,000 0
Unpaid purchases of property and equipment $ 6,223 $ 527