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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities    
Net income (loss) $ 106,105 $ (24,909)
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Depreciation and amortization 20,592 18,322
Currency gain on foreign denominated transactions (446) (234)
Other non-cash income, net (101) (816)
Deferred taxes 13,966 (47,344)
Provision for doubtful accounts 2,047 1,534
Stock-based compensation expense 38,552 46,614
Amortization of deferred financing costs 387 387
Amortization of deferred contract costs 11,986 10,241
Impairment 32,552 144,431
Changes in operating assets and liabilities    
Accounts receivable 3,404 (5,393)
Inventory 338 149
Prepaid expenses, prepaid income taxes, and other assets (8,452) 7,093
Deferred contract costs (13,707) (11,307)
Accounts payable 4,227 10,770
Accrued expenses, accrued income taxes, and other liabilities (6,058) (2,568)
Deferred revenue 1,933 555
Lease obligations 4,838 32,232
Net cash provided by operating activities 212,163 179,757
Investing Activities    
Purchases of property and equipment (5,185) (64,937)
Capitalization of website development costs (17,447) (15,314)
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 (22,632) (59,268)
Financing Activities    
Proceeds from issuance of common stock upon exercise of stock options 429 75
Payment of withholding taxes on net share settlements of restricted stock units (22,704) (17,391)
Repurchases of common stock (294,887) (146,180)
Payment of excise taxes on repurchases of common stock (682) 0
Payment of finance lease obligations (60) (56)
Change in gross advance payments received from third-party transaction processor (1,084) (704)
Net cash used in financing activities (318,988) (164,256)
Impact of foreign currency on cash, cash equivalents, and restricted cash 2,083 582
Net decrease in cash, cash equivalents, and restricted cash (127,374) (43,185)
Cash, cash equivalents, and restricted cash at beginning of period 306,229 293,926
Cash, cash equivalents, and restricted cash at end of period 178,855 250,741
Supplemental disclosure of cash flow information    
Cash paid for income taxes 17,720 36,959
Cash paid for operating lease liabilities 14,453 11,213
Cash paid for interest 490 611
Supplemental noncash disclosure of cash flow information    
Unpaid purchases of property and equipment and capitalized hosting arrangements 1,171 6,592
Capitalized stock-based compensation expense in website development and internal-use software costs and hosting arrangements 5,234 5,227
Unpaid withholding taxes on net share settlement of restricted stock units 275 120
Unpaid repurchases of common stock 454 0
Unpaid excise tax on repurchases of common stock 2,298 2,503
Obtaining a right-of-use asset in exchange for an operating lease liability $ 1,139 $ (5,029)