v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES    
Net income $ 52,284 $ 32,171
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred tax expense 20 23
Non-cash interest expense 437 0
Depreciation and amortization 3,106 2,313
Loss on disposal of property and equipment 580 79
Stock-based compensation expense 40,199 64,895
Bad debt expense 10,176 11,017
Net accretion of discounts on marketable securities 566 27
Changes in operating assets and liabilities:    
Accounts receivable, net (47,388) (47,166)
Prepaid expenses and other current assets 3,808 (7,946)
Accounts payable 27,843 45,207
Accrued expenses and other current liabilities 7,979 5,852
Other noncurrent assets and liabilities (3,236) (1,154)
Net cash provided by operating activities 96,374 105,318
INVESTING ACTIVITIES    
Purchase of property and equipment, net (12,566) (8,112)
Purchase of marketable securities 0 (200,088)
Sale of marketable securities 112,712 93,015
Acquisition of business, net of cash acquired 0 (9,340)
Net cash provided by (used in) investing activities 100,146 (124,525)
FINANCING ACTIVITIES    
Repurchase of common stock (148,630) 0
Payment of excise tax from repurchase of common stock (528) 0
Proceeds from exercise of stock options 31 18
Payment of employee taxes related to equity awards (7,547) (6,195)
Proceeds from contributions to employee stock purchase plan 666 560
Net cash used in financing activities (156,008) (5,617)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (102) 52
Net increase (decrease) in cash, cash equivalents, and restricted cash 40,410 (24,772)
Cash, cash equivalents, and restricted cash, beginning of period 114,193 162,314
Cash, cash equivalents, and restricted cash, end of period 154,603 137,542
Cash and cash equivalents 152,632 132,506
Restricted cash included within prepaid expenses and other current assets 1,046 0
Restricted cash included within other noncurrent assets 925 5,036
Total cash, cash equivalents, and restricted cash 154,603 137,542
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes, net of refunds received 18,981 24,342
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Additions of property and equipment, net included in accounts payable and accrued expenses 2,116 468
Repurchases of common stock recorded in accrued expenses and other current liabilities 1,501 0
Excise tax payable on common stock included in accrued expenses and other current liabilities 1,321 0
Payment of employee taxes related to equity awards included in accrued expenses and other current liabilities $ 971 $ 22