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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net (loss) $ (20,774) $ (379)
Adjustments to reconcile net (loss) to cash provided by operating activities    
Stock-based compensation 42,557 28,227
Deferred income taxes (126) (9,295)
(Gain) loss on capped call transactions (3,206) 30,560
Amortization of deferred commissions 14,277 17,221
Lease expense 4,594 3,919
Amortization of intangible assets and depreciation 4,724 4,171
Foreign currency transaction loss (gain) 2,675 (2,876)
Other non-cash (5,729) (1,100)
Change in operating assets and liabilities, net 29,115 (55,332)
Cash provided by operating activities 68,107 15,116
Investing activities    
Purchases of investments (39,401) (33,690)
Proceeds from maturities and called investments 36,475 20,915
Sales of investments 0 13,350
Investment in property and equipment (11,487) (6,657)
Cash (used in) investing activities (14,413) (6,082)
Financing activities    
Repurchases of convertible senior notes (29,901) 0
Proceeds from settlement of capped calls transactions 188 0
Dividend payments to stockholders (2,474) (2,454)
Proceeds from employee stock purchase plan 2,143 2,446
Proceeds from stock option exercises 1,779 0
Common stock repurchases (1,107) (35,910)
Cash (used in) financing activities (29,372) (35,918)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 782 (310)
Net increase (decrease) in cash, cash equivalents, and restricted cash 25,104 (27,194)
Cash, cash equivalents, and restricted cash, beginning of period 145,054 159,965
Cash, cash equivalents, and restricted cash, end of period 170,158 132,771
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 168,318 132,771
Restricted cash included in other long-term assets 1,840 0
Total cash, cash equivalents and restricted cash $ 170,158 $ 132,771