v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income $ 52,247 $ 173,375
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 181,390 214,692
Depreciation and amortization expense 76,951 81,672
Provision for expected credit losses 7,100 10,141
Deferred provision (benefit) for income taxes 21,274 (13,727)
Asset impairment charge 101,703 0
Other non-cash expense (income), net 36,168 (2,066)
Changes in operating assets and liabilities (net of impact of sale of business):    
Current assets (11,097) 135,804
Non-current assets 3,506 (11)
Current liabilities (90,125) (165,024)
Non-current liabilities (2,827) 2,654
Net cash provided by operating activities 376,290 437,510
Cash flows from investing activities    
Purchases of property and equipment (14,120) (10,174)
Website and app development (31,308) (22,860)
Purchases of investments (251,091) (266,935)
Sales and maturities of investments 227,563 263,210
Proceeds from sale of business, net of cash 100,485 0
Net cash provided by (used in) investing activities 31,529 (36,759)
Cash flows from financing activities    
Payment of tax obligations on vested equity awards (42,526) (42,136)
Repurchase of stock (643,670) (464,314)
Proceeds from exercise of stock options 15,331 3,830
Proceeds from issuance of convertible senior notes 700,000 0
Payment of debt issuance costs (11,339) 0
Payments on finance lease obligations (4,594) (4,591)
Other financing, net (17,784) 2,418
Net cash used in financing activities (4,582) (504,793)
Effect of exchange rate changes on cash 36,487 8,658
Net increase (decrease) in cash and cash equivalents 439,724 (95,384)
Cash and cash equivalents at beginning of period 811,178 914,323
Cash, cash equivalents, and restricted cash at end of period 1,250,902 818,939
Supplemental cash flow disclosures:    
Cash paid for income taxes, net of refunds 47,496 58,838
Supplemental non-cash disclosures:    
Stock-based compensation capitalized in website and app development and asset additions in exchange for liabilities $ 20,573 $ 15,861

Source

10-Q XBRL Zip