v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities:      
Net income (loss) $ 4,628 $ (164,510) $ (107,347)
Adjustments to reconcile net income (loss) to net cash and cash equivalents provided by operating activities, net of acquisitions      
Depreciation and amortization 96,828 72,673 58,150
Stock-based compensation 504,770 432,271 275,849
Restructuring charges   67,263  
Gain on strategic investments (21,245)   (4,201)
Impairment of strategic investments 5,306 1,704 5,863
Provision for (benefit from) deferred income taxes 2,690 550 (1,285)
Amortization of debt discount and issuance costs 2,012 1,986 2,013
Accretion of bond discount (51,676) (42,907) (9,118)
Unrealized currency translation (1,550) (341) 1,010
Changes in assets and liabilities, net of acquisition      
Accounts receivable (48,428) (57,618) (73,985)
Prepaid expenses and other assets (4,415) (47,048) (5,987)
Deferred commission expense (96,687) (81,178) (37,583)
Right-of-use assets 32,297 29,173 29,531
Accounts payable (4,577) (14,031) 18,277
Accrued expenses and other current liabilities 89,129 79,947 26,136
Operating lease liabilities (41,521) (36,889) (21,118)
Deferred revenue 131,038 109,926 116,969
Net cash and cash equivalents provided by operating activities 598,599 350,971 273,174
Investing Activities:      
Purchases of investments (1,993,610) (1,580,504) (1,507,870)
Maturities of investments 1,658,601 1,502,534 1,184,506
Sale of investments 1,997   124,998
Purchases of property and equipment (37,939) (33,718) (37,426)
Capitalization of software development costs (89,636) (66,372) (44,345)
Purchases of intangible assets (1,231) (164) (10,000)
Acquisition of a business, net of cash acquired (40,438) (142,129)  
Proceeds from net working capital settlement 1,933    
Purchases of strategic investments (15,538) (14,413) (29,521)
Net cash and cash equivalents used in investing activities (515,861) (334,766) (319,658)
Financing Activities:      
Proceeds from settlement of Convertible Note Hedges related to the 2022 Convertible Notes     60,483
Payments for settlement of Warrants related to the 2022 Convertible Notes     (34)
Payment for settlement of 2022 convertible notes     (79,807)
Repayment of 2025 Convertible Notes attributable to the principal (57) (13) (1,619)
Employee taxes paid related to the net share settlement of stock-based awards (21,949) (10,714) (11,526)
Proceeds related to the issuance of common stock under stock plans 75,501 47,738 39,931
Net cash and cash equivalents provided by financing activities 53,495 37,011 7,428
Effect on exchange rate changes on cash and cash equivalents (11,553) 4,649 (6,811)
Net increase (decrease) in cash, cash equivalents and restricted cash 124,680 57,865 (45,867)
Cash, cash equivalents and restricted cash, beginning of year 392,040 334,175 380,042
Cash, cash equivalents and restricted cash, end of year 516,720 392,040 334,175
Supplemental cash flow disclosure:      
Cash paid for interest 1,721 1,722 1,746
Cash paid for income taxes 12,187 12,911 4,685
Right-of-use assets obtained in exchange for operating lease facilities 2,593 7,059 74,985
Right-of-use asset reductions related to operating lease terminations   (7,382)  
Non-cash investing and financing activities:      
Capital expenditures incurred but not yet paid $ 1,703 1,068 247
Asset retirement obligations   $ (199) $ 1,113