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 $ 1,157,348 $ 42,440
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 63,688 99,403
Non-cash reduction to the right-of-use asset 9,484 10,516
Net amortization of investment premium and discount (4,093) (8,182)
Stock-based compensation 278,423 288,524
Amortization of deferred commissions 33,556 38,387
Provision for doubtful accounts 10,763 3,686
Value of shares of Class A common stock issued and donated to charity 6,801 5,013
Share of losses from equity method investment 51,569 44,693
Tax benefit related to release of valuation allowance (944,097) 0
Impairment loss on prepaid assets 32,771 0
Other adjustments 4,367 3,487
Changes in operating assets and liabilities:    
Accounts receivable (133,652) (3,112)
Prepaid expenses and other current assets 101,533 84,662
Deferred tax asset (49,412) (1,732)
Other long-term assets (551) (49,688)
Accounts payable (14,462) (24,323)
Accrued expenses and other current liabilities (52,851) (40,086)
Deferred revenue and customer deposits (5,674) (7,671)
Operating lease liabilities (17,768) (18,693)
Other long-term liabilities (2,152) 802
Net cash provided by operating activities 525,591 468,126
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions, net of cash acquired and payments related to prior period acquisitions (685) 0
Purchases of marketable securities and other investments (491,492) (408,836)
Proceeds from sales and maturities of marketable securities and other investments 438,342 818,034
Capitalized software development costs (33,383) (24,152)
Purchases of long-lived assets (7,218) (2,167)
Net cash (used in) provided by investing activities (94,436) 382,879
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on finance leases (128) (4,228)
Value of equity awards withheld for tax liabilities (43) (138)
Repurchases of shares of Class A common stock and related costs (323,048) (323,249)
Proceeds from exercises of stock options and shares of Class A common stock issued under ESPP 32,791 25,907
Net cash used in financing activities (290,428) (301,708)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 140,727 549,297
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period 682,534 431,437
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period 823,261 980,734
Cash paid for income taxes, net 23,519 13,088
Cash paid for interest 18,762 18,813
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONDENSED CONSOLIDATED BALANCE SHEETS    
Cash and cash equivalents 823,261 969,229
Restricted cash in other long-term assets 0 11,505
Total cash, cash equivalents and restricted cash $ 823,261 $ 980,734