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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income (loss) $ (81,423) $ (180,145)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, equipment and software 34,110 42,172
Amortization of acquired intangible assets 6,206 6,397
Impairment of Goodwill 0 35,424
Impairment of long-lived assets 0 8,811
Restructuring-related impairment 0 2,949
Stock-based compensation 13,771 24,194
(Gain) loss from changes in fair value of investment 25,751 0
(Gain) loss on early lease termination 0 (4,471)
Foreign currency (gains) losses, net 9,528 39,879
Change in assets and liabilities:    
Accounts receivable 10,225 (9,321)
Prepaid expenses and other current assets 14,357 (4,086)
Right-of-use assets - operating leases 7,985 22,896
Accounts payable (49,082) 13,222
Accrued merchant and supplier payables (52,497) (80,436)
Accrued expenses and other current liabilities (44,716) (40,331)
Operating lease obligations (22,011) (32,200)
Payment for early lease termination (9,724) 0
Other, net 5,035 3,196
Net cash provided by (used in) operating activities (132,485) (151,850)
Investing activities    
Purchases of property and equipment and capitalized software (15,917) (30,495)
Proceeds from sale of assets 1,475 0
Acquisitions of intangible assets and other investing activities (2,523) (2,077)
Net cash provided by (used in) investing activities (16,965) (32,572)
Financing activities    
Proceeds from borrowings under revolving credit agreement 0 50,000
Payments of borrowings under revolving credit agreement (28,300) (40,000)
Taxes paid related to net share settlements of stock-based compensation awards (3,126) (5,601)
Proceeds from stock option exercises and employee stock purchase plan 2,932 1,105
Other financing activities (2,459) (2,996)
Net cash provided by (used in) financing activities (30,953) 2,508
Effect of exchange rate changes on cash, cash equivalents and restricted cash 34 (9,240)
Net increase (decrease) in cash, cash equivalents and restricted cash (180,369) (191,154)
Cash, cash equivalents and restricted cash, beginning of period [1] 281,696 499,483
Cash, cash equivalents and restricted cash, end of period [1] 101,327 308,329
Supplemental disclosure of cash flow information:    
Cash paid for interest 5,713 4,361
Income tax payments 4,833 4,483
Cash paid for amounts included in the measurement of operating lease liabilities 21,032 22,640
Right-of-use assets obtained in exchange for operating lease liabilities $ 543 $ 2,669
[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 September 30, 2023, December 31, 2022, September 30, 2022 and December 31, 2021 (in thousands):
September 30, 2023December 31, 2022September 30, 2022December 31, 2021
Cash and cash equivalents$86,085 $281,279 $307,998 $498,726 
Restricted cash included in prepaid expenses and other current assets15,242 417 331 757 
Cash, cash equivalents and restricted cash$101,327 $281,696 $308,329 $499,483