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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES:    
Net income $ 129,723 $ 90,415
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 29,969 20,777
Stock-based compensation 132,010 73,751
Allowance for credit losses on accounts receivable 520 2,722
Noncash lease expense 29,914 24,052
Deferred income taxes 5,044 (20,978)
Other 6,730 1,242
Changes in operating assets and liabilities:    
Accounts receivable (48,637) 21,063
Prepaid expenses and other assets 20,627 (23,919)
Accounts payable (44,105) 47,728
Accrued expenses and other liabilities (14,790) 11,047
Operating lease liabilities (31,886) (10,388)
Net cash provided by operating activities 215,119 237,512
INVESTING ACTIVITIES:    
Purchases of investments (233,427) (127,254)
Sales of investments 4,539  
Maturities of investments 192,077 128,315
Purchases of property and equipment (43,920) (57,721)
Capitalized software development costs (3,684) (4,246)
Business acquisition (13,261)  
Net cash used in investing activities (97,676) (60,906)
FINANCING ACTIVITIES:    
Proceeds from line of credit   143,000
Repayment on line of credit   (71,000)
Payment of debt financing costs (1,924)  
Proceeds from exercise of stock options 39,559 54,038
Proceeds from employee stock purchase plan 22,758 15,035
Taxes paid related to net settlement of restricted stock awards (38,273) (14,184)
Net cash provided by financing activities 22,120 126,889
Increase in cash and cash equivalents 139,563 303,495
Cash and cash equivalents—Beginning of period 437,353 130,876
Cash and cash equivalents—End of period 576,916 434,371
SUPPLEMENTAL CASH FLOW INFORMATION:    
Capitalized assets financed by accounts payable 8,934 12,842
Cash paid for amounts included in the measurement of lease liabilities included in operating cash flows 39,006 17,702
Right-of-use assets obtained in exchange for operating lease liabilities 23,293 52,238
Asset retirement obligation 1,609 1,601
Stock-based compensation included in capitalized software development costs $ 2,076 $ 1,394