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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash from operating activities    
Net income $ 2,500 $ 21,240
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,018 13,071
Amortization of operating lease right-of-use assets 1,399 2,071
Deferred income taxes (6,086) (13,137)
Stock-based compensation 5,990 3,712
Other (579) (30)
Changes in operating assets and liabilities:    
Accounts receivable (4,007) (5,136)
Prepaid expenses and other current assets (2,171) (292)
Other assets (982) (107)
Accounts payable 1,301 193
Accrued employee expenses—current 7,638 717
Accrued expenses (3,047) 4,534
Deferred revenue 33 532
Income tax payable (9,029) 0
Other current liabilities 30 100
Accrued employee expenses—noncurrent 968 0
Operating lease liabilities 1,685 (92)
Net cash provided by operating activities 10,661 27,376
Cash from investing activities    
Purchases of available-for-sale investments (148,293) (13,389)
Proceeds from sales of available-for-sale investments 42,198 13,942
Proceeds from maturities of available-for-sale investments 26,750 7,750
Purchases of property, equipment and intangible assets (2,804) (14,306)
Capitalization of software development costs (11,911) (12,709)
Net cash used in investing activities (94,060) (18,712)
Cash from financing activities    
Proceeds from stock option exercises 646 329
Tax withholding for net share settlement (8,900) (9,690)
Payment of contingent consideration 0 (5,977)
Proceeds from issuance of debt 0 50,190
Principal payments on debt 0 (1,818)
Purchase of treasury stock 0 (4,194)
Net cash (used in) provided by financing activities (8,254) 28,840
Net (decrease) increase in cash, cash equivalents and restricted cash (91,653) 37,504
Cash, cash equivalents and restricted cash    
Beginning of period 140,699 16,247
End of period 49,046 53,751
Noncash investing and financing activities    
Purchases of property and equipment included in accounts payable and accrued expenses 822 2,678
Capitalization of software development costs included in accrued expenses and accrued employee expenses 1,361 1,281
Stock-based compensation capitalized for software development 1,178 1,059
Cash and cash equivalents 48,610 53,315
Restricted cash included in other assets 436 436
Total cash, cash equivalents and restricted cash $ 49,046 $ 53,751