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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net (loss) income $ (3,309) $ 14,162
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 6,800 6,066
Non-cash operating lease costs 7,104 7,335
Stock-based compensation 130,570 129,600
Deferred income taxes (1,235) (1,576)
Amortization of intangible assets and acquired technology 50,870 65,518
Amortization of debt issuance costs 1,932 1,790
Amortization of investment discount, net of premium (1,314) (2,848)
Debt refinancing costs 0 1,366
Changes in operating assets and liabilities:    
Accounts receivable 185,775 176,418
Prepaid expenses and other assets 12,868 8,197
Accounts payable and accrued liabilities (64,019) (92,022)
Income taxes payable (50,909) (74,812)
Deferred revenue (96,383) (82,700)
Net cash provided by operating activities 178,750 156,494
Investing activities:    
Purchases of property and equipment (4,708) (1,565)
Purchases of investments (234,385) (269,555)
Maturities of investments 276,500 202,032
Sales of investments 7,929 0
Other 0 1,878
Net cash provided by / (used in) investing activities 45,336 (67,210)
Financing activities:    
Payment of debt (9,376) (11,347)
Payment of debt refinancing costs 0 (1,349)
Proceeds from issuance of debt 0 1,971
Proceeds from issuance of common stock under employee stock purchase plan 14,579 13,797
Payments for dividends related to Class B-2 shares (10) (12)
Payments for repurchases of common stock (101,346) 0
Payments for taxes related to net share settlement of equity awards (48,605) (76,691)
Proceeds from issuance of shares under equity plans 23,965 57,721
Net cash used in financing activities (120,793) (15,910)
Effect of foreign exchange rate changes on cash and cash equivalents 36,522 (7,352)
Net increase in cash and cash equivalents 139,815 66,022
Cash and cash equivalents at beginning of period 912,460 732,443
Cash and cash equivalents at end of period 1,052,275 798,465
Supplemental disclosures:    
Cash paid for interest 60,227 75,704
Cash paid for income taxes, net of refunds 21,868 31,843
Non-cash investing and financing activities:    
Purchases of property and equipment recorded in accounts payable and accrued liabilities $ 632 $ 279