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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 63,064 $ 47,072 $ 16,015
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 10,646 10,078 7,856
Share-based compensation 55,517 35,964 25,237
Amortization of premium (accretion of discount) on marketable securities (47) 293 382
Deferred income taxes, net (6,974) (7,056) 5,856
Amortization of debt discount and issuance costs 1,966
Increase in trade receivables (24,522) (3,116) (11,631)
Increase in prepaid expenses and other current and long-term assets (14,321) (11,893) (3,638)
Increase (decrease) in trade payables 1,571 1,955 (1,288)
Increase in short-term and long-term deferred revenues 40,821 47,818 31,729
Increase in employees and payroll accruals 7,337 6,896 6,316
Increase in accrued expenses and other current and long-term liabilities 6,652 2,114 3,903
Net cash provided by operating activities 141,710 130,125 80,737
Cash flows from investing activities:      
Proceeds from (investment in) short-term and long-term deposits (33,961) 1,600 (20,661)
Investment in marketable securities (165,714) (61,118) (43,604)
Proceeds from maturities of marketable securities 63,489 37,838 17,355
Purchase of property and equipment (7,036) (8,613) (6,757)
Payments for business acquisitions, net of cash acquired (Schedule A) (18,450) (41,329)
Net cash used in investing activities (143,222) (48,743) (94,996)
Cash flows from financing activities:      
Proceeds from withholding tax related to employee stock plans 1,155
Proceeds from exercise of stock options 24,428 17,980 2,624
Proceeds from the issuance of convertible senior notes, net of issuance costs 560,107
Purchase of capped calls (53,648)
Net cash provided by financing activities 532,042 17,980 2,624
Increase (decrease) in cash, cash equivalents and restricted cash 530,530 99,362 (11,635)
Cash, cash equivalents and restricted cash at the beginning of the year 261,883 162,521 174,156
Cash, cash equivalents and restricted cash at the end of the year 792,413 261,883 162,521
Non-cash activities:      
Lease liabilities arising from obtaining right-of-use-assets 27,926
Non-cash purchase of property and equipment 960 1,613 981
Supplemental disclosure of cash flow activities:      
Cash paid during the year for taxes, net 10,548 6,375 3,371
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 792,363 260,636 161,261
Restricted cash included in short-term bank deposits 316
Restricted cash included in other long-term assets 50 1,247 944
Total cash, cash equivalent and restricted cash 792,413 261,883 162,521
Fair value of assets acquired and liabilities assumed at the date of acquisition:      
Goodwill $ 82,400 82,400 69,217
Conjur [Member]      
Fair value of assets acquired and liabilities assumed at the date of acquisition:      
Working capital, net (excluding $379 and $21 of cash and cash equivalents acquired)     (451)
Property and equipment     12
Goodwill     34,072
Other intangible assets     6,888
Deferred taxes, net     808
Total     $ 41,329
Vaultive [Member]      
Fair value of assets acquired and liabilities assumed at the date of acquisition:      
Working capital, net (excluding $379 and $21 of cash and cash equivalents acquired)   (996)  
Property and equipment   83  
Goodwill   13,183  
Other intangible assets   5,424  
Deferred taxes, net   756  
Total   $ 18,450