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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (417,216) $ (447,027)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 203,219 220,639
Stock-based compensation expense 381,276 320,562
Gain on repayment of convertible note (61,371) 0
Impairment of property and equipment 21,918 0
Other 15,383 1,521
Changes in assets and liabilities, net of effects of acquisitions:    
Accounts receivable, net 38,066 1,633
Prepaid expenses and other (19,815) 22,849
Other assets (2,386) 24,311
Accounts payable (460) (3,069)
Accrued expenses and other (40,301) (33,727)
Publisher payables 3,140 328
Other long-term liabilities (34,636) (37,802)
Deferred revenue (5,814) (27,674)
Net cash provided by operating activities 81,003 42,544
Investing activities    
Purchases of short-term investments 0 (212)
Proceeds from principal repayments and maturities of short-term investments 0 102,673
Purchases of non-marketable investments 0 (500)
Purchases of intangible assets (360) 0
Purchases of property and equipment (15,956) (28,468)
Net cash provided by (used in) investing activities (16,316) 73,493
Financing activities    
Repayments of convertible note (414,999) 0
Proceeds from issuance of common stock from employee equity plans 37,302 41,944
Net cash provided by (used in) financing activities (377,697) 41,944
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (9,460) (8,785)
Increase (decrease) in cash, cash equivalents, and restricted cash (322,470) 149,196
Cash, cash equivalents, and restricted cash, beginning of period 1,604,267 1,505,688
Cash, cash equivalents, and restricted cash, end of period 1,281,797 1,654,884
Supplemental disclosure of cash flow information:    
Cash paid for interest 10,000 10,389
Cash paid for income taxes, net of refunds 16,307 5,746
Cash paid for operating leases 26,658 20,206
Supplemental disclosures of non‑cash investing and financing activities:    
Assets acquired under operating lease $ 13,859 $ 37,293