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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net (loss) income $ (1,420) $ 2,186
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Share-based compensation expense 29,289 33,746
Depreciation and amortization expense 19,687 25,543
Deferred income taxes 2,877 3,441
Operating lease expense, net 1,567 1,496
Amortization of issuance costs 541 1,057
Loss from write-off of property and equipment 478 120
Other non-cash items (31) (5)
Change in assets and liabilities:    
Accounts receivable 6,705 1,578
Prepaid expenses and other current assets 3,583 8,485
Other assets (1,270) 2,803
Accounts payable (6,589) (336)
Deferred revenue (1,159) 2,012
Accrued liabilities 640 (2,569)
Other liabilities (1,580) (6,397)
Net cash provided by operating activities 53,318 73,160
Cash flows from investing activities    
Purchases of property and equipment (28,017) (17,166)
Purchases of investments (79,028) (497,372)
Maturities of investments 50,731 407,759
Proceeds from sale of strategic equity investment 15,500 0
Net cash used in investing activities (40,814) (106,779)
Cash flows from financing activities    
Proceeds from common stock issued under stock plans, net 0 145
Payment of taxes related to the net share settlement of equity awards (4,294) (7,736)
Repurchase of common stock 0 (151,311)
Net cash used in financing activities (4,294) (158,902)
Effect of exchange rate changes (226) 187
Net increase (decrease) in cash, cash equivalents and restricted cash 7,984 (192,334)
Cash, cash equivalents and restricted cash, beginning of period 137,976 475,854
Cash, cash equivalents and restricted cash, end of period 145,960 283,520
Supplemental cash flow data:    
Interest 224 437
Income taxes, net of refunds 641 2,017
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 2,216 2,866
Right of use assets obtained in exchange for lease obligations:    
Operating leases 0 12,407
Non-cash investing and financing activities:    
Accrued purchases of long-lived assets 6,302 3,941
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 143,747 281,302
Restricted cash included in other current assets 224 63
Restricted cash included in other assets 1,989 2,155
Total cash, cash equivalents and restricted cash $ 145,960 $ 283,520