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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net (loss) $ (12,124) $ (20,774)
Adjustments to reconcile net (loss) to cash provided by operating activities    
Stock-based compensation 34,781 42,557
Amortization of deferred commissions 17,282 14,277
Amortization of intangible assets and depreciation 4,254 4,724
Lease expense 3,472 4,594
Foreign currency transaction (loss) 3,262 2,675
(Gain) on capped call transactions (3,299) (3,206)
Deferred income taxes (646) (126)
(Gain) on investments (1,628) (3,802)
(Gain) on repurchases of convertible senior notes 0 (2,781)
Other non-cash (1,886) 854
Change in operating assets and liabilities, net 136,678 29,115
Cash provided by operating activities 180,146 68,107
Investing activities    
Purchases of investments (161,438) (39,401)
Proceeds from maturities and called investments 29,643 36,475
Investment in property and equipment (604) (11,487)
Cash (used in) investing activities (132,399) (14,413)
Financing activities    
Repurchases of convertible senior notes 0 (29,901)
Dividend payments to stockholders (2,515) (2,474)
Proceeds from employee stock plans 22,419 3,922
Common stock repurchases for tax withholdings for net settlement of equity awards 2,005 1,107
Other 0 188
Cash provided by (used in) financing activities 17,899 (29,372)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2,803) 782
Net increase in cash, cash equivalents, and restricted cash 62,843 25,104
Cash, cash equivalents, and restricted cash, beginning of period 232,827 145,054
Cash, cash equivalents, and restricted cash, end of period 295,670 170,158
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 291,905 168,318
Restricted cash included in other current assets 775 0
Restricted cash included in other long-term assets 2,990 1,840
Total cash, cash equivalents, and restricted cash $ 295,670 $ 170,158