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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities    
Net income (loss) $ (20,471) $ (18,200)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 7,802 3,392
Stock-based compensation expense, net of amounts capitalized 14,830 11,505
Provision for bad debt 2,097 2,176
Other non-cash, net 356 (302)
Changes in operating assets and liabilities, net of effects from purchases of businesses:    
Trade receivables (33,676) (21,487)
Other operating assets (289) (841)
Accounts payable 68,217 62,761
Other operating liabilities 4,109 3,976
Net cash provided by (used in) operating activities 42,975 42,980
Cash Flows from Investing Activities    
Net increase in finance receivables (1,047) (27,407)
Purchases of property and equipment (1,075) (266)
Capitalization of software costs (7,513) (4,943)
Purchases of marketable securities (2,902) (35,602)
Maturities and redemptions of marketable securities 30,030 41,950
Sales of marketable securities 70,020 2,402
Acquisition of businesses (net of cash acquired) (108,453) 0
Net cash provided by (used in) investing activities (20,940) (23,866)
Cash Flows from Financing Activities    
Proceeds from long term debt 190,000 95,000
Payments towards long term debt (180,000) (75,000)
Proceeds from exercise of stock options 2,401 899
Payment of RSU tax withholdings in exchange for common shares surrendered by RSU holders (7,090) (3,619)
Other financing activities (23) 0
Net cash provided by (used in) financing activities 5,288 17,280
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (49) 3
Net increase (decrease) in cash, cash equivalents, and restricted cash 27,274 36,397
Cash, cash equivalents, and restricted cash, beginning of period 182,571 280,752
Cash, cash equivalents, and restricted cash, end of period 209,845 317,149
Non-cash investing and financing activities:    
Stock-based compensation included in capitalized software development costs 1,184 696
Purchase of property and equipment and internal use software in accounts payable $ 1,119 $ 2,553

Source

10-Q PDF
XBRL