v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income $ 8,491 $ 68,220
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,887 13,140
Stock-based compensation expense 20,174 23,946
Accretion of debt issuance costs 191 342
Changes in operating assets and liabilities, net of assets and liabilities acquired:    
Accounts receivable 7,956 17,837
Prepaid expenses 1,566 3,900
Other current assets (20,119) (12,791)
Current income taxes (9,442) 69
Lease right-of-use assets 4,002 2,026
Other assets 25,901 (8,218)
Deferred revenue 868 2,804
Lease right-of-use liabilities 570 (1,953)
Other liabilities 2,231 1,787
Accounts payable and other current liabilities 109,747 12,895
Net cash provided by operating activities 165,023 124,004
Investing activities:    
Acquisition of property and equipment (7,290) (2,347)
Net cash used in investing activities (7,290) (2,347)
Financing activities:    
Net proceeds from (repayments of) short-term financing obligations (3,088) 26,001
Debt issuance costs 0 (762)
Principal payments on term loan 0 (50,530)
Proceeds from exercise of stock options 20,567 38,568
Issuance of common stock under Employee Stock Purchase Plan 2,454 1,950
Repurchase of common stock (69,006) (17,974)
Payments related to tax withholding for share-based compensation (107) 0
Net cash provided by (used in) financing activities (49,180) (2,747)
Effect of exchange rate changes (144) (164)
Net increase (decrease) in cash and cash equivalents 108,409 118,746
Cash and cash equivalents at beginning of period 443,552 156,307
Cash and cash equivalents at end of period 551,961 275,053
Supplemental information:    
Capital expenditures accrued but not paid at period end 2,269 0
Cash paid for amounts included in the measurement of lease liabilities included in cash provided by operating activities, net of tenant improvement reimbursements received 532 2,671
Lease liabilities arising from obtaining right-of-use assets $ 0 $ 852

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