v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities        
Net loss $ (16,992) $ (56,269) $ (46,227) $ (123,329)
Adjustments to reconcile net loss to net cash provided by operating activities        
Depreciation and amortization 3,006 2,686 8,092 8,353
Stock-based compensation expense 27,470 19,377 75,879 78,029
Provision for (recovery of) doubtful accounts 57 8 (46) 57
Accretion of premiums and discounts on marketable securities, net (2,638) (1,930) (9,543) (4,530)
Amortization of debt discount and issuance costs 609 472 1,826 1,122
Induced conversion expense 0 45,144 0 45,144
Realized loss on sale of available-for-sale securities, net 0 0 0 708
Deferred income tax (1) (14) (292) (17)
Changes in assets and liabilities:        
Accounts receivable (15,187) (15,234) (11,507) 7,243
Deferred costs (4,946) 3,116 (15,140) 6,248
Operating lease right-of-use asset 1,210 1,244 3,808 3,807
Other receivables (1,745) (1,556) 2,796 (1,842)
Prepaid expenses and other 344 3,452 2,764 (3,985)
Other assets 464 1,043 (1,191) 1,479
Accounts payable 4,788 (386) 7,630 (1,267)
Deferred revenue 26,606 11,120 22,159 22,225
Operating lease liability (878) (750) (2,831) (3,129)
Accrued expenses and other liabilities (3,261) 3,468 5,559 10,217
Net cash provided by operating activities 18,906 14,991 43,736 46,533
Cash flows from investing activities        
Purchase of property and equipment (243) (895) (554) (1,732)
Purchase of marketable securities (158,522) (144,989) (310,075) (322,008)
Maturities of marketable securities 108,993 36,906 345,733 76,811
Sale of marketable securities 0 0 4,609 65,052
Acquisitions, net of cash acquired 187 0 (98,093) 0
Purchase of intangible assets (44) (48) (116) (167)
Net cash used in investing activities (49,629) (109,026) (58,496) (182,044)
Cash flows from financing activities        
Proceeds from option exercises 3,273 1,120 3,865 3,324
Taxes paid related to net share settlements of stock-based compensation awards (1,173) (984) (11,424) (9,424)
Proceeds from shares issued in connection with employee stock purchase plan 6,709 6,967 13,822 12,513
Proceeds from the issuance of convertible senior notes, net of issuance costs 0 691,113 0 691,113
Payments for repurchase of convertible senior notes 0 (396,869) 0 (396,869)
Principal payments on finance lease obligations (134) (127) (395) (376)
Net cash provided by financing activities 8,675 301,220 5,868 300,281
Effect of foreign exchange rates on cash 2,390 (1,239) 925 (82)
Net (decrease) increase in cash, cash equivalents, and restricted cash (19,658) 205,946 (7,967) 164,688
Cash, cash equivalents, and restricted cash at beginning of period 268,412 198,939 256,721 240,197
Cash, cash equivalents, and restricted cash at end of period 248,754 404,885 248,754 404,885
Supplemental cash flow disclosure        
Cash paid for interest 4,983 2,160 10,085 4,509
Cash paid for income taxes, net of refunds 1,387 604 4,520 2,126
Noncash investing and financing activities        
Purchases of property and equipment, accrued but not paid 259 0 259 0
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets        
Cash and cash equivalents at end of period 248,239 404,885 248,239 404,885
Restricted cash included within prepaid expenses and other at end of period 515 0 515 0
Total cash, cash equivalents, and restricted cash at end of period shown in the consolidated statements of cash flows $ 248,754 $ 404,885 $ 248,754 $ 404,885