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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 48,568 $ (50,160) $ (20,745)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 44,465 34,629 22,938
(Accretion) amortization of (discounts) premiums on marketable securities (41,621) 4,726 16,236
Amortization of debt discount and issuance costs 3,388 3,369 3,349
Amortization of deferred contract costs 39,207 28,003 17,866
Stock-based compensation, net of amounts capitalized 482,300 363,154 163,737
Non-cash lease expense 26,382 21,416 17,201
Allowance for credit losses on accounts receivable 11,933 5,215 2,311
Loss on disposal of property and equipment 706 1,662 274
Changes in operating assets and liabilities:      
Accounts receivable, net (121,661) (135,701) (107,112)
Deferred contract costs (69,481) (51,098) (42,775)
Prepaid expenses and other current assets (13,508) (6,565) (737)
Other assets 1,018 (5,179) (2,627)
Accounts payable 57,773 (1,286) 3,078
Accrued expenses and other liabilities (40,489) 37,578 37,270
Deferred revenue 230,974 168,644 176,281
Net cash provided by operating activities 659,954 418,407 286,545
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of marketable securities (2,558,013) (1,413,717) (1,125,519)
Maturities of marketable securities 1,864,557 1,137,724 1,046,560
Proceeds from sale of marketable securities 36,995 2,090 67,749
Purchases of property and equipment (27,586) (35,261) (9,956)
Capitalized software development costs (34,820) (29,628) (26,069)
Cash paid for acquisition of businesses; net of cash acquired (12,498) (45,878) (226,505)
Net cash used in investing activities (731,365) (384,670) (273,740)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from exercise of stock options 20,909 10,001 14,907
Proceeds from issuance of common stock under the employee stock purchase plan 37,370 26,025 20,278
Employee payroll taxes paid related to net share settlement under the employee stock purchase plan 0 0 (245)
Repayments of convertible senior notes 0 (3) 0
Net cash provided by financing activities 58,279 36,023 34,940
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,183 (1,935) (1,993)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (11,949) 67,825 45,752
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period 342,288 274,463 228,711
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period 330,339 342,288 274,463
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for income taxes 16,505 1,595 1,486
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Accrued property and equipment purchases 7,046 972 1,746
Stock-based compensation included in capitalized software development costs 13,597 14,853 9,660
Vesting of early exercised options 0 33 566
Issuance of restricted shares of common stock for the acquisition of businesses 1,886 14,019 57,720
Acquisition holdback 750 8,123 5,555
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH WITHIN THE CONSOLIDATED BALANCE SHEETS TO THE AMOUNTS SHOW IN THE STATEMENTS OF CASH FLOWS ABOVE:      
Cash and cash equivalents 330,339 338,985 270,973
Restricted cash 0 3,303 3,490
Total cash, cash equivalents and restricted cash $ 330,339 $ 342,288 $ 274,463