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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income (loss) $ (34,352) $ 14,448
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, equipment and software 15,200 14,727
Amortization of acquired intangible assets 2,169 2,292
Stock-based compensation 7,506 7,179
Foreign currency gains (losses), net and other 0 (32,228)
Change in assets and liabilities:    
Accounts receivable (15,963) (2,812)
Prepaid expenses and other current assets (2,092) (1,640)
Right-of-use assets - operating leases 4,609 5,122
Accounts payable 7,088 5,896
Accrued merchant and supplier payables (35,904) (76,884)
Accrued expenses and other current liabilities (18,366) 9,823
Operating lease obligations (7,648) (6,007)
Other, net (411) 13,679
Net cash provided by (used in) operating activities (78,164) (46,405)
Investing activities    
Purchases of property and equipment and capitalized software (13,001) (12,040)
Acquisitions of intangible assets and other investing activities (915) (704)
Net cash provided by (used in) investing activities (13,916) (12,744)
Financing activities    
Proceeds from issuance of 2026 convertible notes 0 200,000
Proceeds from (payments of) borrowings under revolving credit agreement 0 (100,000)
Issuance costs for 2026 convertible notes and revolving credit agreement 0 (6,572)
Purchase of capped call transactions 0 (23,840)
Taxes paid related to net share settlements of stock-based compensation awards (2,523) (4,901)
Payments of finance lease obligations (218) (2,061)
Other financing activities (223) (8)
Net cash provided by (used in) financing activities (2,964) 62,618
Effect of exchange rate changes on cash, cash equivalents and restricted cash (771) (7,466)
Net increase (decrease) in cash, cash equivalents and restricted cash (95,815) (3,997)
Cash, cash equivalents and restricted cash, beginning of period [1] 499,483 851,085
Cash, cash equivalents and restricted cash, end of period [1] 403,668 847,088
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,721 1,375
Income tax payments $ 1,597 $ 1,099
[1] The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to amounts reported within the condensed consolidated balance sheets as of March 31, 2022, December 31, 2021, March 31, 2021 and December 31, 2020 (in thousands):
March 31, 2022December 31, 2021March 31, 2021December 31, 2020
Cash and cash equivalents$403,006 $498,726 $676,799 $850,587 
Restricted cash included in prepaid expenses and other current assets662 757 504 498 
Restricted cash - non-current— — 169,785 — 
Cash, cash equivalents and restricted cash$403,668 $499,483 $847,088 $851,085