v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income (loss) $ 69,680 $ (52,096)
Net loss from discontinued operations (34,982) (17,009)
Net income (loss) from continuing operations 104,662 (35,087)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities:    
Stock-based compensation expense 52,963 56,178
Depreciation and amortization expense 15,315 17,189
Provision for expected credit losses 1,136 2,385
Deferred provision (benefit) for income taxes 6,705 (2,542)
Asset impairment charge 0 101,703
Other non-cash (income) expense, net (2,257) 14,746
Changes in operating assets and liabilities:    
Current assets 34,697 51,630
Non-current assets (3,607) 670
Current liabilities (113,655) (159,148)
Non-current liabilities 6,577 2,092
Net cash provided by operating activities of continuing operations 102,536 49,816
Net cash used in operating activities of discontinued operations (21,794) (633)
Net cash provided by operating activities 80,742 49,183
Cash flows from investing activities    
Purchases of property and equipment (1,484) (3,248)
Website and app development (8,378) (8,950)
Purchases of investments (84,460) (116,958)
Sales and maturities of investments 81,003 110,192
Net cash used in investing activities of continuing operations (13,319) (18,964)
Net cash used in investing activities of discontinued operations (3,202) (1,712)
Net cash used in investing activities (16,521) (20,676)
Cash flows from financing activities    
Payment of tax obligations on vested equity awards (13,974) (8,169)
Repurchase of stock (145,223) (189,177)
Proceeds from exercise of stock options 2,238 2,945
Payments on finance lease obligations (1,587) (1,514)
Other financing, net 100 (8,867)
Net cash used in financing activities (158,446) (204,782)
Effect of exchange rate changes on cash (6,626) 14,288
Net decrease in cash and cash equivalents (100,851) (161,987)
Cash, cash equivalents, and restricted cash at beginning of period 1,404,360 811,178
Cash, cash equivalents, and restricted cash at end of period 1,303,509 649,191
Supplemental non-cash disclosures from continuing operations:    
Stock-based compensation capitalized in website and app development 3,781 4,388
Lease assets obtained in exchange for new lease liabilities $ 3,494 $ 0

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