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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flow from operating activities:    
Net income $ 111,002 $ 79,666
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 21,140 25,773
Provision for credit losses 230 493
Loss on disposal of property and equipment 0 5
Loss on non-marketable securities 533 0
Stock-based compensation, net of amounts capitalized 50,560 37,856
Amortization (accretion) of premiums (discount) on marketable securities, net (3,502) 1,127
Deferred income taxes (11,561) (15,599)
Changes in operating assets and liabilities:    
Accounts receivable 18,137 9,788
Prepaid expenses and other assets (4,804) (1,412)
Accounts payable (1,428) 841
Accrued liabilities and other noncurrent liabilities 8,211 3,968
Deferred revenues 22,248 12,504
Net cash provided by operating activities 210,766 155,010
Cash flow from investing activities:    
Purchases of marketable securities (252,438) (178,788)
Sales and maturities of marketable securities 212,202 290,949
Purchases of property and equipment (7,263) (12,391)
Purchases of intangible assets 0 (120)
Net cash (used in) provided by investing activities (47,499) 99,650
Cash flow from financing activities:    
Repurchase of common stock (147,725) (212,839)
Proceeds from exercise of stock options 28,384 23,161
Payments for taxes related to net share settlement of equity awards (14,998) (12,853)
Proceeds from issuance of common stock through employee stock purchase plan 6,077 4,445
Net cash used in financing activities (128,262) (198,086)
Net increase in cash, cash equivalents and restricted cash 35,005 56,574
Cash, cash equivalents and restricted cash at beginning of period 176,419 138,528
Cash, cash equivalents and restricted cash at end of period $ 211,424 $ 195,102