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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Net Cash Provided by (Used in) Operating Activities [Abstract]    
Net income $ 43,804 $ 48,567
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred tax expense 10,351 5,862
Non-cash interest expense 0 58
Depreciation and amortization 2,307 1,647
Stock-based compensation expense 97,271 93,812
Bad debt expense 12,734 15,062
Net accretion of discounts on marketable securities (3,759) (2,701)
Foreign currency exchange rate loss 0 12
Changes in operating assets and liabilities:    
Accounts receivable (51,579) (43,761)
Prepaid expenses and other current assets (2,396) (2,523)
Accounts payable 5,072 22,884
Accrued expenses and other current liabilities 13,132 11,744
Other noncurrent assets and liabilities 4 492
Net cash provided by operating activities 126,941 151,155
INVESTING ACTIVITIES    
Purchase of property and equipment, net (3,510) (2,963)
Purchase of marketable securities (170,339) (262,961)
Sale of marketable securities 299,955 158,813
Acquisition of business, net of cash acquired (5,304) 0
Net cash provided by (used in) investing activities 120,802 (107,111)
FINANCING ACTIVITIES    
Repurchase of common stock (245,176) 0
Proceeds from exercise of stock options 1,097 3,573
Payment of employee taxes related to equity awards (10,389) (10,504)
Proceeds from contributions to employee stock purchase plan 915 884
Net cash used in financing activities (253,553) (6,047)
Effect of exchange rate changes on cash and cash equivalents (6) 0
Net (decrease) increase in cash and cash equivalents (5,816) 37,997
Cash and cash equivalents, beginning of period 97,296 120,078
Cash and cash equivalents, end of period 91,480 158,075
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes, net of refunds received 34,872 2,318
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Additions of property and equipment, net included in accounts payable and accrued expenses $ 144 $ 128