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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (424,863) $ (117,209) $ (166,867)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation 16,611 13,929 14,610
Amortization of intangible assets 6,246 4,952 2,577
Share based compensation expenses 236,836 221,391 147,313
Amortization of debt discount and debt issuance costs 5,213 5,298 29,954
Changes in accrued interest and exchange rate on short-term and long-term deposits (86) (20) (43)
Amortization of premium, discount and accrued interest on marketable securities, net 6,252 7,843 4,471
Remeasurement gain (loss) on Marketable equity securities 200,338 (166,323) 0
Deferred taxes, net (57,865) 54,454 12,089
Changes in operating lease right-of-use assets 45,440 28,441 17,867
Changes in operating lease liabilities (45,051) (26,688) (15,807)
Increase in trade receivables (11,719) (6,250) (6,457)
Increase in prepaid expenses and other current and long-term assets (5,912) (98,468) (89,386)
Increase (decrease) in trade payables (18,514) 26,595 41,967
Increase in employees and payroll accruals 2,862 19,391 25,326
Increase in short-term and long-term deferred revenues 55,387 82,361 117,664
Increase in accrued expenses and other current and long-term liabilities 25,977 15,988 12,771
Net cash provided by operating activities 37,152 65,685 148,049
Cash flows from investing activities:      
Proceeds from short-term and restricted deposits 644,809 732,015 294,225
Investment in short-term and restricted deposits (766,021) (572,631) (577,000)
Investment in marketable securities (202,611) (29,377) (763,581)
Proceeds from marketable securities 290,113 312,201 277,335
Purchase of property and equipment and lease prepayment (68,554) (35,770) (18,403)
Capitalization of internal use of software (2,110) (1,930) (450)
Payments for businesses acquired, net of acquired cash 0 (42,729) (6,626)
Proceeds from sale of equity securities 51,596 18,771 0
Purchases of investments in privately held companies (1,300) (3,681) (1,185)
Proceeds from realization of investments in privately held company 0 0 1,098
Investment in other assets (580) 0 (5,643)
Net cash provided by (used in) investing activities (54,658) 376,869 (800,230)
Cash flows from financing activities:      
Proceeds from issuance of convertible senior notes 0 0 575,000
Payments of debt issuance costs 0 0 (15,713)
Purchase of capped call 0 0 (46,000)
Purchase of treasury shares (231,873) (200,000) 0
Proceeds from exercise of options and ESPP shares 42,710 39,943 39,649
Net cash provided by (used in) financing activities (189,163) (160,057) 552,936
Increase (decrease) in cash and cash equivalents (206,669) 282,497 (99,245)
Cash and cash equivalents at the beginning of the year 451,355 168,858 268,103
Cash and cash equivalents at the end of the year 244,686 451,355 168,858
Supplemental disclosure of cash flow activities:      
Cash paid during the year for taxes 11,422 6,523 5,810
Interest received during the year 23,727 20,154 18,647
Supplemental information for non-cash transactions      
Right-of-use asset recognized with corresponding lease liability 142,496 41,130 29,137
Non-cash purchase of property and equipment 9,368 9,324 1,007
Conversion of Convertible Notes $ 0 $ 78,949 $ 179