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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 39,045 $ 21,301
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,554 7,481
Currency (gain) loss on foreign denominated transactions (165) 384
Deferred taxes (3,389) (9,052)
Provision for doubtful accounts 424 290
Stock-based compensation expense 12,900 15,822
Amortization of deferred financing costs 129 129
Amortization of deferred contract costs 3,810 3,258
Changes in operating assets and liabilities:    
Accounts receivable 3,070 (4,182)
Inventory (353) (319)
Prepaid expenses, prepaid income taxes, and other assets 6,801 5,974
Deferred contract costs (4,744) (3,326)
Accounts payable 4,075 707
Accrued expenses, accrued income taxes, and other liabilities (5,592) 681
Deferred revenue 731 120
Lease obligations 4,583 12,696
Net cash provided by operating activities 67,879 51,964
Investing Activities    
Purchases of property and equipment (2,240) (28,665)
Capitalization of website development costs (5,391) (5,465)
Purchases of short-term investments 0 (494)
Sale of short-term investments 0 21,218
Advance payments to customers, net of collections 0 259
Net cash used in investing activities (7,631) (13,147)
Financing Activities    
Proceeds from issuance of common stock upon exercise of stock options 394 11
Payment of withholding taxes on net share settlements of restricted stock units (8,985) (5,115)
Repurchases of common stock (182,828) (77,442)
Payment of finance lease obligations (20) (18)
Change in gross advance payments received from third-party transaction processor (38) (474)
Net cash used in financing activities (191,477) (83,038)
Impact of foreign currency on cash, cash equivalents, and restricted cash 710 (577)
Net decrease in cash, cash equivalents, and restricted cash (130,519) (44,798)
Cash, cash equivalents, and restricted cash at beginning of period 306,229 293,926
Cash, cash equivalents, and restricted cash at end of period 175,710 249,128
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 700 1,132
Cash paid for operating lease liabilities 2,558 4,788
Cash paid for interest 34 143
Supplemental noncash disclosure of cash flow information:    
Unpaid purchases of property and equipment and capitalized hosting arrangements 778 16,329
Capitalized stock-based compensation expense in website development and internal-use software costs and hosting arrangements 1,638 1,827
Unpaid withholding taxes on net share settlement of restricted stock units 125 119
Unpaid repurchases of common stock 1,451 3,658
Unpaid excise tax on repurchases of common stock 2,268 2,239
Obtaining a right-of-use asset in exchange for an operating lease liability $ 217 $ (3,536)