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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net loss $ (22,115) $ (37,534)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 21,449 16,682
Stock-based compensation expense, net of amounts capitalized 32,028 29,794
Provision for bad debt 3,111 5,055
Other non-cash, net 2,266 119
Changes in operating assets and liabilities, net of effects from purchases of businesses:    
Trade receivables (41,714) (19,158)
Other operating assets (1,059) 3,036
Accounts payable 85,423 37,641
Other operating liabilities 950 11,856
Net cash provided by operating activities 80,339 47,491
Cash Flows from Investing Activities    
Net increase in finance receivables (71,564) (1,851)
Purchases of property and equipment (4,205) (2,872)
Capitalization of software costs (17,932) (14,855)
Purchases of marketable securities (24,833) (21,607)
Maturities and redemptions of marketable securities 24,888 69,699
Sales of marketable securities 0 122,698
Acquisition of businesses (net of cash acquired) 0 (155,209)
Net cash used in investing activities (93,646) (3,997)
Cash Flows from Financing Activities    
Proceeds from long term debt 220,000 340,000
Payments towards long term debt (156,500) (345,000)
Payment of debt issuance costs (1,457) (1,702)
Proceeds from exercise of stock options 531 6,812
Payment of RSU tax withholdings in exchange for common shares surrendered by RSU holders (17,636) (13,110)
Proceeds from employee stock purchase plan 2,534 1,998
Other financing activities (74) (23)
Net cash provided by (used in) financing activities 47,398 (11,025)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 209 (68)
Net increase in cash, cash equivalents, and restricted cash 34,300 32,401
Cash, cash equivalents, and restricted cash, beginning of period 224,065 182,571
Cash, cash equivalents, and restricted cash, end of period 258,365 214,972
Non-cash investing and financing activities:    
Stock-based compensation included in capitalized software development costs 3,613 2,254
Purchase of property and equipment and internal use software in accounts payable $ 1,247 $ 1,177

Source

10-Q PDF
XBRL