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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net income $ 12,488 $ 6,501
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,687 3,870
Write-offs and sales allowances 796 948
Net realized loss on short-term investments 41 0
Deferred taxes (3,219) (5,758)
Share-based compensation expense 6,053 8,121
Changes in operating assets and liabilities:    
Accounts receivable 5,985 5,044
Prepaid expenses and other current assets 7,089 453
Deposits and other assets 96 (344)
Accounts payable and accrued expenses (8,396) (7,775)
Accrued compensation and employee benefits (8,082) (3,015)
Deferred revenue and advance payments 33,489 10,502
Operating lease liabilities (4,316) 0
Other long-term liabilities (509) 4,780
Net cash provided by operating activities 49,202 23,327
Investing activities:    
Proceeds from redemption of short-term investments 369,603 245,680
Purchases of property and equipment (8,432) (2,644)
Purchases of short-term investments (212,248) (596,376)
Net cash provided by (used in) investing activities 148,923 (353,340)
Financing activities:    
Proceeds from sale of class A common stock under exercise of employee stock options 1,836 2,471
Purchases of treasury stock (48,244) 0
Payments on capital lease obligations and other financing arrangements prior to the adoption of ASU 2016-02 0 (9)
Net cash (used in) provided by financing activities (46,408) 2,462
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash 33 (2,240)
Net increase (decrease) in cash, cash equivalents, and restricted cash 151,750 (329,791)
Cash, cash equivalents and restricted cash, beginning of period 110,786 421,182
Cash, cash equivalents and restricted cash, end of period $ 262,536 $ 91,391