v3.26.1
CONDENSED 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) $ 83,326 $ (117,294)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization (inclusive of depreciation included in cost of revenue) 69,758 79,742
Non-cash interest expense and other 1,422 1,217
Increase in allowance for credit losses and sales credits 6,290 5,746
Provision for deferred income taxes (2,840) (33,762)
Share-based compensation 19,731 18,208
Loss on disposal or impairment of long-lived assets 558 18,296
Net gain on investments in available-for-sale securities (81) (29)
Goodwill impairment loss 0 109,515
Net loss on deferred compensation balances 702 1,063
Non-cash lease expense (632) 41
Changes in assets and liabilities, net of effects from acquisitions:    
Accounts receivable (6,236) 40,660
Accounts receivable, subcontractor 5,874 11,379
Income taxes receivable 3,659 1,091
Prepaid expenses 219 3,802
Other current assets (4,963) (4,837)
Other assets 12,052 3,645
Accounts payable and accrued expenses 31,171 (6,756)
Accrued compensation and benefits 13,629 (19,566)
Other liabilities 143,244 52,080
Deferred revenue (4,361) 6,978
Net cash provided by operating activities 372,522 171,219
Cash flows from investing activities:    
Purchase and development of fixed assets (15,780) (19,775)
Purchase of investments (4,322) (34,119)
Proceeds from sale and maturity of investments 4,525 7,239
Payments to fund deferred compensation plan (637) (3,256)
Proceeds from settlements of company-owned life insurance policies 0 3,274
Cash paid for acquisitions, net of cash and restricted cash received (2,990) 0
Cash paid for other intangibles (510) 0
Net cash used in investing activities (19,714) (46,637)
Cash flows from financing activities:    
Payments on revolving credit facility (25,000) (185,000)
Proceeds from revolving credit facility 0 45,000
Repurchase of common stock (2,253) 0
Payment of financing costs (5) 0
Cash paid for shares withheld for taxes (2,242) (1,437)
Net cash used in financing activities (29,500) (141,437)
Net increase (decrease) in cash, cash equivalents and restricted cash 323,308 (16,855)
Cash, cash equivalents and restricted cash at beginning of period 67,171 89,305
Cash, cash equivalents and restricted cash at end of period 390,479 72,450
Supplemental disclosures of cash flow information:    
Cash paid for amounts included in the measurement of operating lease liabilities 4,277 4,291
Cash paid for interest (net of $108 and $117 capitalized for the six months ended June 30, 2026 and 2025, respectively) 7,815 23,600
Cash paid for income taxes 44,833 11,224
Acquisitions:    
Goodwill 3,190 0
Deferred tax asset to goodwill 73 0
Intangible assets 1,500 0
Liabilities assumed (3) 0
Contingent consideration liabilities (1,770) 0
Net cash paid for acquisitions 2,990 0
Supplemental disclosures of non-cash investing and financing activities:    
Purchase of fixed assets recorded in accounts payable and accrued expenses 1,591 1,358
Right-of-use assets obtained in exchange for operating lease liabilities $ 223 $ 544