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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net income (loss) $ 61,388 $ (47,420)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 13,236 13,144
Currency (gain) loss on foreign denominated transactions (457) 507
Other non-cash income, net 0 (816)
Deferred taxes (13,330) (44,164)
Provision for doubtful accounts 1,123 798
Stock-based compensation expense 25,925 31,159
Amortization of deferred financing costs 258 258
Amortization of deferred contract costs 7,814 6,633
Impairment 32,552 127,655
Changes in operating assets and liabilities:    
Accounts receivable 2,223 243
Inventory (373) (714)
Prepaid expenses, prepaid income taxes, and other assets 8,894 7,425
Deferred contract costs (9,429) (7,448)
Accounts payable 6,692 9,301
Accrued expenses, accrued income taxes, and other liabilities (3,204) (862)
Deferred revenue 1,686 476
Lease obligations 6,000 27,386
Net cash provided by operating activities 140,998 123,561
Investing Activities    
Purchases of property and equipment (3,823) (54,649)
Capitalization of website development costs (11,653) (10,707)
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 (15,476) (44,373)
Financing Activities    
Proceeds from issuance of common stock upon exercise of stock options 404 26
Payment of withholding taxes on net share settlements of restricted stock units (15,330) (11,405)
Repurchases of common stock (184,608) (142,479)
Payment of excise taxes on repurchases of common stock (682) 0
Payment of finance lease obligations (40) (37)
Change in gross advance payments received from third-party transaction processor (281) (80)
Net cash used in financing activities (200,537) (153,975)
Impact of foreign currency on cash, cash equivalents, and restricted cash 2,135 (774)
Net decrease in cash, cash equivalents, and restricted cash (72,880) (75,561)
Cash, cash equivalents, and restricted cash at beginning of period 306,229 293,926
Cash, cash equivalents, and restricted cash at end of period 233,349 218,365
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 17,269 25,904
Cash paid for operating lease liabilities 8,997 7,534
Cash paid for interest 316 309
Supplemental noncash disclosure of cash flow information:    
Unpaid purchases of property and equipment and capitalized hosting arrangements 842 7,704
Capitalized stock-based compensation expense in website development and internal-use software costs and hosting arrangements 3,496 3,688
Unpaid withholding taxes on net share settlement of restricted stock units 123 120
Unpaid excise tax on repurchases of common stock 1,402 2,654
Obtaining a right-of-use asset in exchange for an operating lease liability $ 201 $ (5,029)