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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (24,372) $ (69,406)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 38,265 35,553
Amortization of operating lease right-of-use assets 10,631 9,234
Amortization of deferred contract acquisition costs 52,152 40,088
Accretion of discount on marketable investments (16,833) (7,684)
Provision for credit losses 806 795
Stock-based compensation 127,872 156,721
Amortization of discount and issuance costs on convertible senior notes 3,991 2,793
Gain on early extinguishment of debt (6,615) 0
Impairment charge of an equity investment 1,250 0
Interest on finance lease obligations 258 77
Deferred taxes 441 438
Tax benefit of valuation allowance associated with an acquisition (4,831) 0
Other (145) 592
Changes in operating assets and liabilities:    
Accounts receivable (15,559) (6,661)
Prepaid expenses and other current assets (9,562) (6,537)
Deferred contract acquisition costs (76,288) (68,410)
Other assets (1,452) (4,892)
Accounts payable 8,651 5,562
Accrued and other current liabilities 5,380 (1,149)
Deferred revenue 184 1,544
Other liabilities (871) 3,636
Net cash provided by operating activities 93,353 92,294
Cash flows from investing activities:    
Purchases of marketable investments (993,483) (544,713)
Proceeds from sales of marketable investments 93,995 971
Proceeds from maturities of marketable investments 829,122 415,117
Purchases of property and equipment (33,097) (19,941)
Capitalization of software development costs (14,211) (5,820)
Net cash used in investing activities (284,741) (234,974)
Cash flows from financing activities:    
Proceeds from issuance of 2029 convertible senior notes, net of issuance costs 728,843 0
Payments for capped call transactions associated with the 2029 convertible senior notes (93,438) 0
Repurchase of a portion of 2025 convertible senior notes, net of costs (304,485) 0
Repayment of outstanding 2023 convertible senior notes at maturity 0 (169)
Cash received from the settlement at maturity of the outstanding capped calls associated with the 2023 convertible senior notes 0 74,453
Cash received from partial termination of capped calls associated with the 2025 convertible senior notes 539 0
Proceeds from exercise of common stock options 423 8,315
Proceeds from sale of common stock under ESPP 9,522 9,444
Payment of holdback related to an acquisition 0 (500)
Payment of finance lease liabilities (2,006) (496)
Net cash provided by financing activities 339,398 91,047
Net increase (decrease) in cash, cash equivalents and restricted cash 148,010 (51,633)
Cash, cash equivalents and restricted cash:    
Beginning of period 144,842 180,987
End of period 292,852 129,354
Supplemental disclosures of cash flow data:    
Cash paid for interest 5,764 1,956
Cash paid for income taxes 3,337 1,124
Non-cash investing and financing activities:    
Property and equipment unpaid at period-end 12,944 11,419
Capitalization of leasehold improvements and furniture and fixtures through non-cash lease incentive 37 0
Acquisition and related transaction costs accrued at period-end 591 330
Stock-based compensation included in capitalized software development costs 5,707 2,487
Acqueon Inc.    
Cash flows from investing activities:    
Cash paid to acquire Aceyus, Inc. (167,166) 0
Aceyus, Inc.    
Cash flows from investing activities:    
Cash paid to acquire $ 99 $ (80,588)