v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income (loss) $ 63,383 $ (13,095)
Adjustments to reconcile net loss to net cash flows provided by operating activities:    
Depreciation, amortization and write-off 26,840 44,387
Share-based compensation expenses 28,322 32,089
Net gain from financing expenses (440) (4,675)
Revaluation of the Warrants liability (501) (823)
Amortization of loan and credit facility issuance costs 351 597
Loss on extinguishment of debt 0 6,597
Commercial agreement asset amortization 8,119 8,119
Loss from disposal of property and equipment 181 0
Change in operating assets and liabilities:    
Decrease in trade receivables, net [1] 43,426 74,332
Decrease in prepaid expenses and other current assets and long-term prepaid expenses 16,031 2,717
Decrease in trade payables [2] (46,501) (19,721)
Increase in accrued expenses and other current liabilities and other long-term liabilities (297) (33,782)
Decrease (increase) in deferred taxes, net 135 (4,809)
Change in operating lease right of use assets 14,802 12,654
Change in operating lease liabilities (13,943) (9,079)
Net cash provided by operating activities 139,908 95,508
Cash flows from investing activities    
Purchase of property and equipment (32,311) (25,277)
Proceeds from maturities of short-term investments 0 3,780
Net cash used in investing activities (32,311) (21,497)
Cash flows from financing activities    
Issuance costs 0 (938)
Exercise of options 9,138 3,206
Payment of tax withholding for share-based compensation expenses (6,902) (1,977)
Repurchase of Ordinary shares and non-voting Ordinary shares (64,233) (150,008)
Payments on account of repurchase of Ordinary shares (3,552) (3,060)
Repayment of long-term loan 0 (122,736)
Proceeds from revolving credit line, net of issuance costs 0 123,985
Additional proceeds from revolving credit line 242,100 76,000
Repayment of revolving credit line (272,400) (114,500)
Net cash used in financing activities (95,849) (190,028)
Exchange rate differences on balances of cash and cash equivalents 439 4,675
Increase (decrease) in cash and cash equivalents 12,187 (111,342)
Cash and cash equivalents - at the beginning of the period 120,865 226,583
Cash and cash equivalents - at end of the period 133,052 115,241
Cash paid during the year for:    
Income taxes 9,592 14,207
Interest 2,824 3,955
Non-cash investing and financing activities:    
Purchase of property and equipment 2,691 1,898
Share-based compensation included in capitalized internal-use software 1,020 727
Creation and modification of operating lease right-of-use assets and operating lease liability $ 7,555 $ 32,087
[1] (1) Includes a decrease (increase) in related party trade receivables of $(10,550) and $42,125, for the six months ended June 30, 2026 and 2025, respectively
[2]
(2) Includes a increase (decrease) in related party trade payables of $1,773 and $(7,640), for the six months ended June 30, 2026 and 2025, respectively.