XML 28 R8.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (51,000) $ (79,500) $ (116,600)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 28,800 25,100 22,300
Stock-based compensation expense 95,100 108,100 109,600
Impairment losses 3,700 2,200 3,100
Other (300) 600 (12,300)
Changes in operating assets and liabilities:      
Accounts receivable, net (5,700) 7,200 (14,800)
Prepaid expenses and other assets 7,400 7,300 (12,100)
Accounts payable and accrued expenses 8,000 (2,300) 34,000
Accrued compensation and other liabilities 1,700 5,500 (4,800)
Deferred revenue 21,000 21,200 21,300
Net cash provided by operating activities 108,700 95,400 29,700
Cash flows from investing activities:      
Purchases of marketable securities 0 0 (121,800)
Proceeds from maturities of marketable securities 0 66,000 530,000
Purchases of property, equipment, and software (1,500) (1,600) (1,100)
Capitalized internal-use software costs (18,100) (17,200) (15,300)
Purchase of minority interest 0 0 (1,700)
Purchases of content assets (10,600) (17,300) (5,300)
Net cash provided by (used in) investing activities (30,200) 29,900 384,800
Cash flows from financing activities:      
Proceeds from exercise of stock options 9,900 9,400 27,300
Proceeds from employee stock purchase plan 4,200 5,600 6,000
Payments for repurchases of common stock 0 (36,700) (58,500)
Payments for tax withholding on vesting of restricted stock units (27,600) (33,300) (54,100)
Net cash used in financing activities (13,500) (55,000) (79,300)
Net increase in cash, cash equivalents, and restricted cash 65,000 70,300 335,200
Cash, cash equivalents, and restricted cash—beginning of period 728,400 658,100 322,900
Cash, cash equivalents, and restricted cash—end of period 793,400 728,400 658,100
Supplemental disclosure of cash flow information:      
Cash paid for income taxes, net of refunds 6,000 5,300 6,400
Supplemental disclosure of noncash investing and financing activities:      
Stock-based compensation capitalized as internal-use software costs 7,700 7,700 7,100
Capital Expenditures Incurred but Not yet Paid 3,900 2,200 1,300
Right-of-use asset obtained in exchange for operating lease liability $ 2,200 $ 3,000 $ 0