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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES:    
Net income (loss) $ 1,505 $ (18,835)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 27,811 27,803
Stock-based compensation 40,767 40,491
Loss on extinguishment of debt 2,152 7,387
Amortization of debt discount and issuance costs 1,860 2,149
Non-cash lease expense (942) (1,236)
Deferred income taxes 316 (3,101)
Unrealized foreign currency (gain) loss, net 6,595 (3,112)
Other items, net 102 279
Changes in operating assets and liabilities:    
Accounts receivable (102,239) 52,146
Prepaid expenses and other assets (6,438) 1,120
Accounts payable and accrued expenses 52,288 (76,104)
Other liabilities (2,688) 169
Net cash provided by operating activities 21,089 29,156
INVESTING ACTIVITIES:    
Purchases of property and equipment (26,891) (15,040)
Capitalized internal use software development costs (6,364) (7,516)
Net cash used in investing activities (33,255) (22,556)
FINANCING ACTIVITIES:    
Proceeds from the Term Loan B Facility refinancing and repricing activities, net of debt discount 92,622 361,350
Repayment of the Term Loan B Facility from refinancing and repricing activities (92,622) (351,000)
Payment for debt issuance costs (159) (4,510)
Proceeds from exercise of stock options 1,709 187
Proceeds from issuance of common stock under employee stock purchase plan 2,111 1,983
Purchase of treasury stock (22,880) 0
Taxes paid related to net share settlement (27,258) (12,743)
Net cash used in financing activities (47,385) (5,646)
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH 2,335 (709)
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (57,216) 245
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — Beginning of period 483,220 326,219
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — End of period 426,004 326,464
SUPPLEMENTAL DISCLOSURES OF OTHER CASH FLOW INFORMATION:    
Cash paid for income taxes 2,040 1,938
Cash paid for interest 14,477 17,854
Capitalized assets financed by accounts payable and accrued expenses and other liabilities 11,676 9,132
Capitalized stock-based compensation 948 1,298
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 18,683 11,020
Operating lease right-of-use assets reduction and corresponding non-cash adjustment to operating lease liabilities 2,129 0
Non-cash financing activity related to Amendment No. 2 to the 2024 Credit Agreement 270,555 0
2024 Credit Agreement    
FINANCING ACTIVITIES:    
Repayment of debt $ (908) $ (913)