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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES:    
Net income $ 49,168 $ 37,951
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,260 9,277
Stock-based compensation 46,899 36,926
Allowance for credit losses on accounts receivable 2,384 843
Investment credit loss 13  
Noncash lease expense 15,825 8,935
Deferred income taxes (11,697)  
Other (2,385) (2,056)
Changes in operating assets and liabilities:    
Accounts receivable 293,577 4,987
Prepaid expenses and other assets (31,368) (11,960)
Accounts payable (214,396) (28,952)
Accrued expenses and other liabilities (7,535) (6,312)
Operating lease liabilities (4,735) (5,848)
Net cash provided by operating activities 149,010 43,791
INVESTING ACTIVITIES:    
Purchases of investments (89,689) (122,432)
Maturities of investments 85,183 22,424
Purchases of property and equipment (37,720) (17,002)
Capitalized software development costs (2,317) (2,420)
Net cash used in investing activities (44,543) (119,430)
FINANCING ACTIVITIES:    
Proceeds from line of credit 143,000  
Repayment on line of credit (1,000)  
Payment of debt financing costs   (7)
Proceeds from exercise of stock options 41,695 16,975
Proceeds from employee stock purchase plan 15,035 8,648
Taxes paid related to net settlement of restricted stock awards (7,729) (3,634)
Net cash provided by financing activities 191,001 21,982
Increase (decrease) in cash and cash equivalents 295,468 (53,657)
Cash and cash equivalents—Beginning of period 130,876 207,232
Cash and cash equivalents—End of period 426,344 153,575
SUPPLEMENTAL CASH FLOW INFORMATION:    
Capitalized assets financed by accounts payable 11,315 694
Tenant improvements paid by lessor   413
Asset retirement obligation 1,601 615
Stock-based compensation included in capitalized software development costs 880 788
Cash paid for amounts included in the measurement of lease liabilities included in operating cash flows 10,077 7,709
Right-of-use assets obtained in exchange for operating lease liabilities $ 45,951 $ 48,610