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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 48,910,000 $ 58,113,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 67,391,000 41,761,000
Amortization of debt issue costs and accretion of discount 2,361,000 791,000
Operating lease amortization 3,565,000 3,103,000
Deferred tax benefit (13,324,000) (3,467,000)
Share-based compensation 15,009,000 12,056,000
Gain on sale of equity securities (2,599,000) 0
Earnings of equity method investment (2,167,000) (2,631,000)
Loss on foreign currency remeasurement 2,052,000 4,531,000
Other, net (1,666,000) 4,124,000
(Increase) decrease in assets:    
Accounts receivable, net 1,329,000 1,261,000
Prepaid expenses and other assets (431,000) (628,000)
Other long-term assets (734,000) (2,282,000)
Increase (decrease) in liabilities:    
Accrued liabilities and accounts payable 3,101,000 16,392,000
Income tax payable 1,103,000 (10,027,000)
Contract liability 11,561,000 1,181,000
Operating lease liabilities (1,672,000) (3,035,000)
Other long-term liabilities (2,449,000) (592,000)
Total adjustments 82,430,000 62,538,000
Net cash provided by operating activities 131,340,000 120,651,000
Cash flows from investing activities    
Additions to software (39,106,000) (24,151,000)
Property and equipment acquired (17,226,000) (11,305,000)
Proceeds from maturities of available-for-sale debt securities 370,000 0
Purchase of equity securities (111,000) 0
Proceeds from sale of equity securities 5,906,000 0
Acquisitions, net of cash acquired 0 (22,915,000)
Net cash used in investing activities (50,167,000) (58,371,000)
Cash flows from financing activities    
Withholding taxes paid on share-based compensation (9,825,000) (5,955,000)
Net decrease in short-term borrowings 0 (20,000,000)
Dividends paid (6,493,000) (6,503,000)
Repurchase of common stock (70,000,000) (15,790,000)
Repayment of long-term debt (11,933,000) (10,375,000)
Repayment of other financing agreements (7,046,000) 0
Settlement activity, net 21,703,000 5,587,000
Other financing activities, net (2,182,000) 0
Net cash used in financing activities (85,776,000) (53,036,000)
Effect of foreign exchange rate on cash, cash equivalents and restricted cash (10,234,000) (1,841,000)
Net (decrease) increase in cash, cash equivalents and restricted cash (14,837,000) 7,403,000
Cash, cash equivalents, restricted cash and cash included in settlement assets at beginning of the period 343,724,000 221,244,000
Cash, cash equivalents, restricted cash, and cash included in settlement assets at end of the period $ 328,887,000 $ 228,647,000