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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Net loss $ (14,817) $ (20,471)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 10,547 7,802
Stock-based compensation expense, net of amounts capitalized 16,574 14,830
Provision for bad debt 1,603 2,097
Other non-cash, net 704 356
Changes in operating assets and liabilities, net of effects from purchases of businesses:    
Trade receivables (75,714) (33,676)
Other operating assets (2,616) (289)
Accounts payable 122,834 68,217
Other operating liabilities 7,509 4,109
Net cash provided by operating activities 66,624 42,975
Cash Flows from Investing Activities    
Net increase in finance receivables (17,276) (1,047)
Purchases of property and equipment (1,346) (1,075)
Capitalization of software costs (8,731) (7,513)
Purchases of marketable securities (10,153) (2,902)
Maturities and redemptions of marketable securities 6,638 30,030
Sales of marketable securities 0 70,020
Acquisition of businesses (net of cash acquired) 0 (108,453)
Net cash used in investing activities (30,868) (20,940)
Cash Flows from Financing Activities    
Proceeds from long term debt 100,000 190,000
Payments towards long term debt (56,500) (180,000)
Proceeds from exercise of stock options 382 2,401
Payment of RSU tax withholdings in exchange for common shares surrendered by RSU holders (11,808) (7,090)
Other financing activities (42) (23)
Net cash provided by financing activities 32,032 5,288
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 32 (49)
Net increase in cash, cash equivalents, and restricted cash 67,820 27,274
Cash, cash equivalents, and restricted cash, beginning of period 224,065 182,571
Cash, cash equivalents, and restricted cash, end of period 291,885 209,845
Non-cash investing and financing activities:    
Stock-based compensation included in capitalized software development costs 1,843 1,184
Purchase of property and equipment and internal use software in accounts payable $ 1,490 $ 1,119

Source

10-Q PDF
XBRL