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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flow from operating activities:    
Net income $ 79,666 $ 49,139
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 25,773 26,752
Bad debt expense 493 247
Loss on disposal of property and equipment 5 12
Stock-based compensation 37,856 56,218
Amortization of premiums on marketable securities 1,127 2,985
Deferred income taxes (15,599) (15,962)
Changes in operating assets and liabilities:    
Accounts receivable 9,788 15,665
Prepaid expenses and other assets (1,412) (5,460)
Accounts payable 841 200
Accrued liabilities 3,968 9,912
Deferred revenues 12,504 21,033
Net cash provided by operating activities 155,010 160,741
Cash flow from investing activities:    
Purchases of marketable securities (178,788) (255,051)
Sales and maturities of marketable securities 290,949 295,336
Purchases of property and equipment (12,391) (20,089)
Proceeds from disposal of property and equipment 0 6
Purchases of intangible assets (120) (1,080)
Net cash provided by investing activities 99,650 19,122
Cash flow from financing activities:    
Repurchases of common stock (212,839) (94,919)
Proceeds from exercise of stock options 23,161 10,948
Payments for taxes related to net share settlement of equity awards (12,853) (24,194)
Proceeds from issuance of common stock through employee stock purchase plan 4,445 0
Principal payments under finance lease obligations 0 (90)
Net cash used in financing activities (198,086) (108,255)
Net increase in cash, cash equivalents and restricted cash 56,574 71,608
Cash, cash equivalents and restricted cash at beginning of period 138,528 75,332
Cash, cash equivalents and restricted cash at end of period $ 195,102 $ 146,940