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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net loss $ (72,223) $ (14,423)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,700 2,604
Amortization of internally developed software 9,140 5,307
Amortization of intangible assets 416 1,207
Stock-based compensation expense 24,881 21,722
Deferred income taxes (20,134) (10,982)
Other non-cash items 908 421
Changes in operating assets and liabilities:    
Accounts receivable 493 (1,522)
Contract assets – commissions receivable 35,244 (16,772)
Prepaid expenses and other assets (20,790) (9,398)
Accounts payable (26,913) (3,196)
Accrued compensation and benefits (118) (7,438)
Accrued marketing expenses (6,525) (5,449)
Deferred revenue 10,240 23,901
Accrued expenses and other liabilities 1,360 3,059
Net cash used in operating activities (60,321) (10,959)
Investing activities:    
Capitalized internal-use software and website development costs (12,589) (12,082)
Purchases of property and equipment and other assets (3,554) (6,454)
Purchases of marketable securities (88,967) (180,505)
Proceeds from redemption and maturities of marketable securities 68,288 70,750
Net cash used in investing activities (36,822) (128,291)
Financing activities:    
Proceeds from issuance of preferred stock, net of issuance costs 214,025 0
Proceeds from issuance of common stock, net of issuance costs 0 228,024
Net proceeds from exercise of common stock options and employee stock purchases 4,983 1,577
Repurchase of shares to satisfy employee tax withholding obligations (7,968) (17,174)
Acquisition-related contingent payments 0 (8,751)
Principal payments in connection with leases (126) (121)
Net cash provided by financing activities 210,914 203,555
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0 62
Net increase in cash, cash equivalents and restricted cash 113,771 64,367
Cash, cash equivalents and restricted cash at beginning of period 47,113 26,820
Cash, cash equivalents and restricted cash at end of period $ 160,884 $ 91,187