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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net income $ 28,975 $ 52,720
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,659 3,765
Currency gain on foreign denominated transactions (927) (56)
Deferred taxes (5,025) (34,543)
Provision for doubtful accounts 695 1,246
Stock-based compensation expense 25,390 14,951
Amortization of deferred contract costs 5,797 2,355
Changes in operating assets and liabilities:    
Accounts receivable (4,984) (1,168)
Prepaid expenses, prepaid income taxes, and other assets (871) (8,648)
Deferred contract costs (11,442) (9,715)
Accounts payable 10,740 11,462
Accrued expenses, accrued income taxes, and other current liabilities (2,047) (2,964)
Deferred revenue (1,027) 3,381
Lease obligations (1,882) 1,466
Other non-current liabilities 500 347
Net cash provided by operating activities 49,551 34,599
Investing Activities    
Purchases of property and equipment (10,765) (1,873)
Capitalization of website development costs (2,074) (978)
Cash paid for acquisition (19,139)  
Investments in certificates of deposit (134,808) (130,000)
Maturities of certificates of deposit 122,800 110,000
Net cash used in investing activities (43,986) (22,851)
Financing Activities    
Proceeds from exercise of stock options 1,456 3,061
Financing cash flows from finance leases (21)  
Payment of initial public offering costs   (1,142)
Payment of withholding taxes and option costs on net share settlement of restricted stock units and stock options (12,783) (21,867)
Net cash used in financing activities (11,348) (19,948)
Impact of foreign currency on cash, cash equivalents, and restricted cash (97) (54)
Net decrease in cash, cash equivalents, and restricted cash (5,880) (8,254)
Cash, cash equivalents, and restricted cash at beginning of period 37,558 89,552
Cash, cash equivalents, and restricted cash at end of period 31,678 81,298
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 153 2,320
Unpaid purchases of property and equipment and internal-use software 244 2,201
Capitalized stock-based compensation expense in website development and internal-use software costs 950 $ 299
Cash paid for operating lease liabilities $ 8,465