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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net loss $ (78,800) $ (183,949) $ (193,381)
Adjustments to reconcile net loss to cash provided by operating activities:      
Depreciation and amortization expense 127,722 135,820 102,335
Non-cash operating lease costs 49,476 44,792 36,332
Amortization of deferred contract acquisition costs 77,822 61,374 45,115
Stock-based compensation expense 338,461 273,989 202,777
Amortization of debt issuance costs 3,959 4,519 4,659
Net accretion of discounts and amortization of premiums on available-for-sale securities (42,081) (44,441) (263)
Deferred income taxes 2,111 2,264 (140)
Provision for bad debt 10,038 13,637 4,828
Loss on extinguishment of debt 0 50,300 0
Other 643 829 629
Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinations:      
Accounts receivable, net (78,523) (113,361) (56,195)
Contract assets (5,527) (2,749) (2,213)
Deferred contract acquisition costs (116,803) (101,465) (67,940)
Prepaid expenses and other current assets (38,227) (22,125) (7,701)
Other noncurrent assets 2,170 1,018 (539)
Accounts payable 18,626 11,781 (9,605)
Accrued expenses and other current liabilities 9,900 4,001 18,986
Accrued compensation 18,742 21,787 (24,349)
Operating lease liabilities (55,248) (40,046) (31,691)
Deferred revenue 135,008 134,473 102,204
Other noncurrent liabilities 960 1,958 (253)
Net cash provided by operating activities 380,429 254,406 123,595
Cash Flows from Investing Activities      
Purchases of property and equipment (185,037) (114,396) (143,606)
Capitalized internal-use software (28,477) (20,546) (19,758)
Asset acquisitions and business combinations, net of cash acquired (37,991) (6,083) (88,187)
Purchases of available-for-sale securities (1,572,113) (1,877,513) (1,132,951)
Sales of available-for-sale securities 0 20,248 0
Maturities of available-for-sale securities 1,493,356 1,812,015 1,148,770
Other investing activities 38 74 36
Net cash used in investing activities (330,224) (186,201) (235,696)
Cash Flows from Financing Activities      
Repayments of convertible senior notes 0 (207,649) (16,571)
Cash paid for issuance costs on revolving credit facility (2,148) 0 0
Proceeds from the exercise of stock options 12,905 14,851 10,000
Proceeds from the early exercise of stock options 6 0 113
Repurchases of unvested common stock 0 (34) (3)
Proceeds from the issuance of common stock for employee stock purchase plan 19,796 19,083 15,291
Payment of tax withholding obligation on RSU settlement (16,774) (7,953) (2,483)
Payment of indemnity holdback (1,000) (10,483) 0
Net cash provided by (used in) financing activities 12,785 (192,185) 6,347
Net increase (decrease) in cash, cash equivalents, and restricted cash 62,990 (123,980) (105,754)
Cash, cash equivalents, and restricted cash, beginning of period 91,224 215,204 320,958
Cash, cash equivalents, and restricted cash, end of period 154,214 91,224 215,204
Supplemental Disclosure of Cash Flow Information:      
Cash paid for interest 75 670 1,238
Cash paid for income taxes, net of refunds 4,995 4,454 2,223
Cash paid for operating lease liabilities 51,387 40,747 28,881
Supplemental Disclosure of Non-cash Investing and Financing Activities:      
Stock-based compensation capitalized for software development 10,839 6,641 5,452
Accounts payable and accrued expenses related to property and equipment additions 57,241 26,423 28,979
Vesting of early exercised stock options 109 1,761 2,862
Indemnity holdback consideration associated with asset acquisitions and business combinations 6,523 1,000 10,483
Issuance of common stock related to an acquisition 0 0 65,504
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 71,773 $ 44,707 $ 33,137