v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net loss $ (132,549) $ (104,918)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization expense 65,182 45,352
Non-cash operating lease costs 21,925 18,106
Amortization of deferred contract acquisition costs 29,011 20,218
Stock-based compensation expense 125,793 88,780
Amortization of debt issuance costs 2,470 2,332
Net accretion of discounts and amortization of premiums on available-for-sale securities (19,050) 3,798
Deferred income taxes (613) (1,833)
Provision for bad debt 6,037 2,010
Loss on extinguishment of debt 50,300 0
Other 494 264
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable, net (35,413) (26,947)
Contract assets (381) (1,116)
Deferred contract acquisition costs (43,348) (30,604)
Prepaid expenses and other current assets (13,996) (5,067)
Other noncurrent assets (1,991) 371
Accounts payable 6,602 8,174
Accrued expenses and other current liabilities 1,454 (30,479)
Operating lease liabilities (18,149) (20,523)
Deferred revenue 56,460 34,477
Other noncurrent liabilities 627 389
Net cash provided by operating activities 100,865 2,784
Cash Flows From Investing Activities    
Purchases of property and equipment (56,289) (61,565)
Capitalized internal-use software (10,703) (10,034)
Cash paid for acquisitions, net of cash acquired 0 (86,941)
Purchases of available-for-sale securities (795,096) (422,374)
Sales of available-for-sale securities 20,248 0
Maturities of available-for-sale securities 857,456 414,036
Other investing activities 59 25
Net cash provided by (used in) investing activities 15,675 (166,853)
Cash Flows From Financing Activities    
Repayments of convertible senior notes (172,249) (16,571)
Proceeds from the exercise of stock options 7,059 5,977
Proceeds from the early exercise of stock options 0 62
Repurchases of unvested common stock (34) (3)
Proceeds from the issuance of common stock for employee stock purchase plan 10,450 8,688
Payment of tax withholding obligation on RSU settlement (3,383) (1,264)
Payment of indemnity holdback (9,208) 0
Net cash used in financing activities (167,365) (3,111)
Net decrease in cash, cash equivalents, and restricted cash (50,825) (167,180)
Cash, cash equivalents, and restricted cash, beginning of period 215,204 320,958
Cash, cash equivalents, and restricted cash, end of period 164,379 153,778
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 595 642
Cash paid for income taxes, net of refunds 2,557 990
Cash paid for operating lease liabilities 18,306 16,761
Supplemental Disclosure of Non-cash Investing and Financing Activities:    
Stock-based compensation capitalized for software development 3,525 2,656
Accounts payable and accrued expenses related to property and equipment additions 8,347 35,217
Vesting of early exercised stock options 1,171 1,560
Indemnity holdback consideration associated with business combinations 0 10,582
Issuance of common stock related to an acquisition 0 65,504
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 16,636 $ 17,537