v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income (loss) $ (6,505) $ 5,011
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation expense 18,576 21,571
Depreciation and amortization 3,110 2,731
Provision for bad debts (558) 912
Deferred income taxes (13,686) (4,607)
Non-cash lease expense 986 1,031
Amortization and accretion of marketable securities (2,564) (3,020)
Other 1,112 313
Change in operating assets and liabilities:    
Accounts receivable 1,550 7,247
Prepaid expenses and other assets 1,978 2,429
Deferred commissions, net 302 70
Other assets 202 106
Accounts payable (2,014) (5,019)
Accrued expenses and other liabilities 7,613 (13,899)
Accrued interest (6,902) (6,902)
Deferred revenue 152 (95)
Operating lease liabilities (1,319) (1,509)
Net cash provided by operating activities 2,033 6,370
Cash flows from investing activities    
Purchases of property and equipment (126) (414)
Capitalized internal-use software costs (2,870) (3,068)
Purchases of marketable securities (142,717) (117,122)
Paydowns, maturities, and redemptions of marketable securities 151,452 158,623
Net cash provided by investing activities 5,739 38,019
Cash flows from financing activities    
Repurchase of common stock (6,373) (58,740)
Proceeds from exercise of stock options 271 1,787
Payments of tax withholdings on net settlement of equity awards (4,795) (4,511)
Proceeds from issuance of stock under employee stock purchase plan 2,582 4,221
Net cash used in financing activities (8,315) (57,243)
Net decrease in cash and cash equivalents (543) (12,854)
Beginning of period 283,043 227,380
End of period $ 282,500 $ 214,526