v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 546,289 $ 241,641
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]    
Depreciation and amortization 13,152 16,494
Stock-based compensation 315,310 267,415
Unrealized and realized (gain) loss from marketable securities, net (452) 20,042
Noncash consideration (24,441) (26,484)
Other operating activities 26,533 11,351
Changes in operating assets and liabilities:    
Accounts receivable, net (163,501) (298,311)
Prepaid expenses and other assets (7,307) 2,797
Accounts payable and accrued liabilities 48,202 22,824
Contract liabilities 120,666 33,269
Other liabilities (24,937) (17,272)
Net cash provided by operating activities 849,514 273,766
Investing activities    
Purchases of property and equipment (13,818) (5,543)
Purchases of marketable securities (2,576,231) (1,784,115)
Proceeds from sales and redemption of marketable securities 652,762 1,133,535
Purchases of privately-held securities (70,000) (4,000)
Net cash used in investing activities (2,007,287) (660,123)
Financing activities    
Proceeds from the exercise of common stock options 95,201 99,870
Repurchases of common stock (36,594) (26,699)
Taxes paid related to net share settlement of equity awards (81,117) 0
Other financing activities 63 102
Net cash provided by (used in) financing activities (22,447) 73,273
Effect of foreign exchange on cash, cash equivalents, and restricted cash 11,518 (4,948)
Net decrease in cash, cash equivalents, and restricted cash (1,168,702) (318,032)
Cash, cash equivalents, and restricted cash - beginning of period 2,119,936 850,107
Cash, cash equivalents, and restricted cash - end of period $ 951,234 $ 532,075