XML 17 R7.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income attributable to common stockholders $ 75,231 $ 33,277
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 61,975 65,016
Stock-based compensation 40,513 44,710
Provision for expected credit losses 8,607 7,985
Operating lease right-of-use assets and liabilities, net (13,816) 1,423
Loss on extinguishment of debt 269 0
Net accretion of discounts and amortization of premiums on investments 0 2,569
Non-cash interest expense 4,005 3,988
Impairment of certain long-lived assets 0 356
Other (7,853) 361
Changes in operating assets and liabilities:    
Accounts receivable (17,064) (13,234)
Prepaid expenses and other current assets 1,201 (4,346)
Accounts payable and accrued expenses (3,029) (3,655)
Deferred revenue 5,867 1,462
Other assets and liabilities 631 (1,879)
Net cash provided by operating activities 156,537 138,033
Investing activities    
Capital expenditures - property and equipment (95,160) (75,534)
Capital expenditures - internal-use software development (3,412) (4,046)
Purchase of intangible assets 1,835 0
Maturities of marketable securities 0 91,675
Net cash (used in) provided by investing activities (100,407) 12,095
Financing activities    
Payment of debt issuance costs (4,081) 0
Proceeds related to the issuance of common stock under equity incentive plan 2,771 7,948
Proceeds from the issuance of common stock under employee stock purchase plan 2,660 2,231
Principal repayments of finance leases (2,733) (2,720)
Employee payroll taxes paid related to net settlement of equity awards (16,294) (13,469)
Repurchase and retirement of common stock including related costs (79,199) (18,183)
Net cash used in financing activities (96,876) (24,193)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 45 (61)
(Decrease) increase in cash, cash equivalents and restricted cash (40,701) 125,874
Cash, cash equivalents and restricted cash - beginning of period 430,193 318,983
Cash, cash equivalents and restricted cash - end of period 389,492 444,857
Supplemental disclosures of cash flow information:    
Cash paid for interest 249 571
Cash paid for taxes, net of refunds 5,757 8,976
Operating cash flows paid for operating leases 72,310 41,158
Non-cash investing and financing activities:    
Capitalized stock-based compensation 875 1,372
Property and equipment received but not yet paid, included in accounts payable and accrued other expenses 32,038 39,532
Debt issuance costs incurred but not yet paid, included in accounts payable and accrued liabilities 480 0
Operating right-of-use assets obtained in exchange for operating lease liabilities 123,637 26,826
Finance right-of-use assets obtained in exchange for finance lease liabilities $ 636 $ 0