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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating activities        
Net (loss) $ (93,520) $ (56,468) $ (380,195) $ (25,794)
Adjustments to reconcile net (loss) to cash (used in) operating activities        
Stock-based compensation 33,774 28,695 93,301 89,483
Deferred income taxes     169,489 (53,638)
Loss on capped call transactions 6,876 14,735 56,381 7,543
Amortization of deferred commissions 11,597 10,186 39,752 31,388
Lease expense     11,500 9,274
Amortization of intangible assets and depreciation     12,381 24,030
Foreign currency transaction (gain) loss (3,826) (518) (8,415) 4,983
Other non-cash     (1,705) 5,246
Change in operating assets and liabilities, net     (5,935) (97,836)
Cash (used in) operating activities     (13,446) (5,321)
Investing activities        
Purchases of investments     (39,056) (67,170)
Proceeds from maturities and called investments     53,952 96,859
Sales of investments     18,415 25,123
Payments for acquisitions, net of cash acquired     (922) (4,993)
Investment in property and equipment     (22,285) (7,089)
Cash provided by investing activities     10,104 42,730
Financing activities        
Proceeds from employee stock purchase plan     7,166 7,786
Dividend payments to stockholders     (7,368) (7,310)
Common stock repurchases     (43,282) (91,907)
Cash (used in) financing activities     (43,484) (91,431)
Effect of exchange rate changes on cash and cash equivalents     (5,513) (1,466)
Net (decrease) in cash and cash equivalents     (52,339) (55,488)
Cash and cash equivalents, beginning of period     159,965 171,899
Cash and cash equivalents, end of period $ 107,626 $ 116,411 $ 107,626 $ 116,411