v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income attributable to common stockholders $ 66,226 $ 3,470
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 100,825 87,085
Stock-based compensation 67,659 65,589
Provision for expected credit losses 12,018 11,416
Operating lease right-of-use assets and liabilities, net 2,861 5,783
Net accretion of discounts and amortization of premiums on investments 2,569 (2,262)
Non-cash interest expense 5,987 5,958
Loss on impairment of long-lived assets 356 1,140
Deferred income taxes 0 561
Release of VAT reserve 0 (819)
Other (2,572) 484
Changes in operating assets and liabilities:    
Accounts receivable (18,768) (16,777)
Prepaid expenses and other current assets (13,594) (7,569)
Accounts payable and accrued expenses 1,136 (15,870)
Deferred revenue 235 (561)
Other assets and liabilities (13,552) 16,798
Net cash provided by operating activities 211,386 154,426
Investing activities    
Capital expenditures - property and equipment (132,886) (67,077)
Capital expenditures - internal-use software development (6,492) (4,075)
Cash paid for acquisition of businesses, net of cash acquired 0 (99,340)
Cash paid for asset acquisitions 0 (2,500)
Purchase of marketable securities 0 (352,313)
Maturities of marketable securities 91,675 773,335
Purchased interest on marketable securities 0 (151)
Proceeds from interest on marketable securities 0 151
Proceeds from sale of equipment 42 236
Net cash (used in) provided by investing activities (47,661) 248,266
Financing activities    
Proceeds related to the issuance of common stock under equity incentive plan 11,890 15,358
Proceeds from the issuance of common stock under employee stock purchase plan 2,231 2,797
Principal repayments of finance leases (4,097) (947)
Employee payroll taxes paid related to net settlement of equity awards (21,166) (15,594)
Repurchase and retirement of common stock including related costs (29,878) (474,950)
Net cash used in financing activities (41,020) (473,336)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (69) (55)
Increase (decrease) in cash, cash equivalents and restricted cash 122,636 (70,699)
Cash, cash equivalents and restricted cash - beginning of period 318,983 151,807
Cash, cash equivalents and restricted cash - end of period 441,619 81,108
Supplemental disclosures of cash flow information:    
Cash paid for interest 824 595
Cash paid for taxes, net of refunds 13,442 2,034
Operating cash flows paid for operating leases 64,397 51,038
Non-cash investing and financing activities:    
Capitalized stock-based compensation 2,221 980
Property and equipment received but not yet paid, included in Accounts payable and Accrued other expenses 9,395 15,804
Operating right-of-use assets obtained in exchange for operating lease liabilities 27,717 65,828
Finance right-of-use assets obtained in exchange for finance lease liabilities $ 88 $ 11,958