v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income (loss) $ 38,687,000 $ (22,337,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation expense 15,738,000 27,239,000
Depreciation and amortization 5,928,000 6,369,000
Provision for bad debts 597,000 507,000
Deferred income taxes 15,888,000 (9,182,000)
Non-cash lease expense 957,000 2,015,000
Amortization and accretion of marketable securities (1,731,000) (4,132,000)
Gain on debt extinguishment (59,262,000) 0
Other 1,793,000 1,185,000
Change in operating assets and liabilities:    
Accounts receivable (1,340,000) (2,830,000)
Prepaid expenses and other assets (1,153,000) (47,000)
Deferred commissions 722,000 448,000
Other assets (1,496,000) 675,000
Accounts payable 3,857,000 (2,356,000)
Accrued expenses and other liabilities (457,000) 4,257,000
Accrued interest (6,975,000) (4,000)
Deferred revenue 1,346,000 900,000
Operating lease liabilities (1,178,000) (2,073,000)
Net cash provided by operating activities 11,921,000 634,000
Cash flows from investing activities    
Purchases of property and equipment (371,000) (602,000)
Capitalized internal-use software costs (3,927,000) (3,990,000)
Purchases of marketable securities (62,905,000) (270,062,000)
Sales of marketable securities 1,301,000 983,000
Paydowns, maturities, and redemptions of marketable securities 239,311,000 342,162,000
Net cash provided by investing activities 173,409,000 68,491,000
Cash flows from financing activities    
Repurchase of common stock (9,533,000) (84,093,000)
Proceeds from exercise of stock options 301,000 2,427,000
Payments of tax withholdings on net settlement of equity awards (2,376,000) (4,100,000)
Proceeds from issuance of stock under employee stock purchase plan 0 1,665,000
Repurchases of senior unsecured notes (229,684,000) 0
Net cash used in financing activities (241,292,000) (84,101,000)
Net decrease in cash, cash equivalents, and restricted cash (55,962,000) (14,976,000)
Beginning of period 188,028,000 218,432,000
End of period 132,066,000 203,456,000
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets    
Cash and cash equivalents 129,739,000 203,456,000
Restricted cash included in prepaid expenses and other assets 259,000 0
Restricted cash included in other assets 2,068,000 0
Total cash, cash equivalents, and restricted cash 132,066,000 203,456,000
Supplemental disclosure of non-cash activities    
Repurchases of senior unsecured notes included in accounts payable and accrued expenses 3,129,000 0
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities $ 0 $ 7,148,000