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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net income $ 1,673 $ 15,557
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,298 4,491
Bad debt expense 165 1,044
Deferred taxes (2,662) (968)
Share-based compensation expense 4,743 3,115
Changes in operating assets and liabilities:    
Accounts receivable 422 9,584
Prepaid expenses and other current assets (3,783) (270)
Deposits and other assets 228 98
Accounts payable and accrued expenses (6,016) (16,295)
Accrued compensation and employee benefits (8,085) (11,296)
Deferred revenue and advance payments 19,570 22,294
Other long-term liabilities 9,164 (833)
Net cash provided by operating activities 18,717 26,521
Investing activities:    
Proceeds from redemption of short-term investments 195,820 91,140
Purchases of property and equipment (1,294) (820)
Purchases of short-term investments (483,440) (163,421)
Net cash used in investing activities (288,914) (73,101)
Financing activities:    
Proceeds from sale of class A common stock under exercise of employee stock options 0 1,095
Payments on capital lease obligations and other financing arrangements (7) (6)
Net cash (used in) provided by financing activities (7) 1,089
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash 2,202 2,306
Net decrease in cash, cash equivalents, and restricted cash (268,002) (43,185)
Cash, cash equivalents and restricted cash, beginning of period 421,182 402,712
Cash, cash equivalents and restricted cash, end of period $ 153,180 $ 359,527