v3.24.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Consolidated net (loss) income $ (24,909) $ 44,656
Adjustments to reconcile consolidated net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 18,322 35,713
Gain on sale of property and equipment 0 (460)
Currency (gain) loss on foreign denominated transactions (234) 249
Other non-cash (income) expense, net (816) 168
Deferred taxes (47,344) (32,129)
Provision for doubtful accounts 1,534 247
Stock-based compensation expense 46,614 43,769
Amortization of deferred financing costs 387 387
Amortization of deferred contract costs 10,241 8,629
Goodwill and other asset impairment 144,431 184
Changes in operating assets and liabilities:    
Accounts receivable (5,393) 337
Inventory 149 4,959
Prepaid expenses, prepaid income taxes, and other assets 7,093 6,027
Deferred contract costs (11,307) (13,688)
Accounts payable 10,770 1,177
Accrued expenses, accrued income taxes, and other liabilities (2,568) 1,016
Deferred revenue 555 8,797
Lease obligations 32,232 11,993
Net cash provided by operating activities 179,757 122,031
Investing Activities    
Purchases of property and equipment (64,937) (9,048)
Proceeds from sale of property and equipment 0 460
Capitalization of website development costs (15,314) (11,773)
Purchases of short-term investments (494) (96,748)
Sales of short-term investments 21,218 5,000
Advance payments to customers, net of collections 259 (2,908)
Net cash used in investing activities (59,268) (115,017)
Financing Activities    
Proceeds from issuance of common stock upon exercise of stock options 75 74
Payment of withholding taxes on net share settlements of restricted stock units (17,391) (11,738)
Repurchases of common stock (146,180) (107,409)
Payment of finance lease obligations (56) (52)
Payment of tax distributions to redeemable noncontrolling interest holders 0 (38)
Change in gross advance payments received from third-party transaction processor (704) (4,523)
Net cash used in financing activities (164,256) (123,686)
Impact of foreign currency on cash, cash equivalents, and restricted cash 582 (506)
Net decrease in cash, cash equivalents, and restricted cash (43,185) (117,178)
Cash, cash equivalents, and restricted cash at beginning of period 293,926 484,132
Cash, cash equivalents, and restricted cash at end of period 250,741 366,954
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 36,959 48,933
Cash paid for operating lease liabilities 11,213 14,762
Cash paid for interest 611 411
Supplemental noncash disclosure of cash flow information:    
Unpaid purchases of property and equipment and capitalized hosting arrangements 6,592 5,706
Unpaid withholding taxes on net share settlement of restricted stock units 120 3,029
Unpaid repurchases of common stock 0 1,173
Unpaid excise tax on repurchases of common stock 2,503 617
Capitalized stock-based compensation expense in website development and internal-use software costs and hosting arrangements 5,227 3,843
Obtaining a right-of-use asset in exchange for an operating lease liability $ (5,029) $ 145,607