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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating activities        
Net income (loss) $ 30,077 $ 6,613 $ 115,499 $ (5,511)
Adjustments to reconcile net income (loss) to cash provided by operating activities        
Stock-based compensation 36,730 36,224 78,155 71,005
Amortization of deferred commissions 15,074 14,994 33,578 32,276
Amortization of intangible assets and depreciation     6,319 8,812
Amortization of right-of-use lease assets     5,803 7,844
Foreign currency transaction loss 14,008 (437) 19,333 2,825
Loss (gain) on capped call transactions 0 3,277 223 (22)
Deferred income taxes     282 232
(Accretion) of investments     (2,110) (6,535)
(Gain) on investments     (19,480) (1,628)
Other non-cash     1,067 1,479
Change in operating assets and liabilities, net     51,827 109,466
Cash provided by operating activities     290,496 220,243
Investing activities        
Purchases of investments     (158,703) (291,810)
Proceeds from maturities and called investments     345,166 83,967
Sales of investments     30,547 0
Investment in property and equipment     (4,015) (1,857)
Cash provided by (used in) investing activities     212,995 (209,700)
Financing activities        
Repurchases of convertible senior notes     (467,864) 0
Dividend payments to stockholders     (5,150) (5,065)
Proceeds from employee stock plans     84,987 29,928
Common stock repurchases for tax withholdings for net settlement of equity awards     (6,600) (2,360)
Common stock repurchases under stock repurchase program     (251,689) 0
Cash (used in) provided by financing activities     (646,316) 22,503
Effect of exchange rate changes on cash, cash equivalents, and restricted cash     7,407 (2,842)
Net (decrease) increase in cash, cash equivalents, and restricted cash     (135,418) 30,204
Cash, cash equivalents, and restricted cash, beginning of period     341,529 232,827
Cash, cash equivalents, and restricted cash, end of period 206,111 263,031 206,111 263,031
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]        
Cash and cash equivalents 201,565 258,257 201,565 258,257
Restricted cash included in other current assets 0 768 0 768
Restricted cash included in other long-term assets 4,546 4,006 4,546 4,006
Total cash, cash equivalents, and restricted cash $ 206,111 $ 263,031 $ 206,111 $ 263,031