v3.26.3
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 78,914 $ 13,464
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized gain from remeasurement of foreign currency (4,802) (10,458)
Depreciation and amortization 22,657 19,037
Stock-based compensation expense 52,097 53,473
Amortization of deferred contract costs 1,724 1,167
Change in fair value of contingent consideration 1,794 (1,223)
Deferred tax benefit (29,187) (452)
Change in provision for uncollectible accounts 2,011 1,629
Amortization of debt issuance costs 296 173
Net accretion of discounts and amortization of premiums on investments (19) (612)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (15,684) (11,585)
Unbilled receivables 1,247 2,105
Funds receivable from payment partners (1,542) (42,686)
Prepaid expenses, other current assets and other assets (22,902) (21,304)
Funds payable to clients 27,167 83,343
Accounts payable, accrued expenses and other current liabilities 14,441 7,537
Contingent consideration 0 (74)
Other liabilities (948) 2,542
Deferred revenue 3,153 (787)
Net cash provided by operating activities 130,417 95,289
Cash flows from investing activities:    
Acquisitions of businesses, net of cash acquired 0 (324,921)
Assets acquisition (3,229) 0
Purchase of short-term and long-term investments 0 (14,199)
Proceeds from the maturity and sale of short-term and long-term investments 21,401 154,725
Capitalization of internally developed software (10,068) (5,813)
Purchases of property and equipment (621) (960)
Net cash provided by (used in) investing activities 7,483 (191,168)
Cash flows from financing activities:    
Proceeds from issuance of revolving credit facility 0 125,000
Payment of revolving credit facility 0 (110,000)
Payment of debt issuance costs 0 (758)
Contingent consideration paid for acquisitions 0 (4,139)
Payments of tax withholdings for net settled equity awards (7,485) (3,257)
Common stock repurchased including related costs (30,523) (64,319)
Non-voting common stock repurchased and retired (29,036) 0
Proceeds from the issuance of stock under Employee Stock Purchase Plan 1,592 2,527
Proceeds from exercise of stock options 2,908 2,064
Deferred acquisition payment (1,000) (1,000)
Net cash used in financing activities (63,544) (53,882)
Effect of exchange rates changes on cash and cash equivalents 2,514 9,433
Net change in cash and cash equivalents 76,870 (140,328)
Cash and cash equivalents, beginning of period 330,303 495,242
Cash and cash equivalents, end of period 407,173 354,914
Supplemental disclosures of cash flow and noncash information    
Purchase of property and equipment in accounts payable 124 25
Capitalized stock-based compensation expense 2,313 1,630
Accrued excise tax related to common stock repurchased 0 319
Cash paid for interest $ 0 $ 1,933