v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income (loss) $ 467,918 $ 217,375 $ (371,094)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 31,587 33,354 22,522
Stock-based compensation 691,638 475,903 564,798
Noncash operating lease expense 41,239 47,019 40,309
Unrealized and realized (gain) loss from marketable securities, net 19,306 13,160 272,108
Noncash consideration (52,521) (46,609) (15,537)
Other operating activities 24,795 (34,255) (28,152)
Changes in operating assets and liabilities, net of effect of acquisitions:      
Accounts receivable, net (211,157) (106,159) (72,819)
Prepaid expenses and other current assets 7,202 (6,197) (24,811)
Other assets 4,681 3,242 6,033
Accounts payable (18,841) (31,832) (29,859)
Accrued liabilities 115,634 52,895 5,527
Deferred revenue, current and noncurrent 22,356 79,512 (61,154)
Customer deposits, current and noncurrent 54,440 64,347 (49,471)
Operating lease liabilities, current and noncurrent (48,966) (49,630) (34,590)
Other noncurrent liabilities 4,554 58 (73)
Net cash provided by operating activities 1,153,865 712,183 223,737
Investing activities      
Purchases of property and equipment (12,634) (15,114) (40,027)
Purchases of marketable securities (5,395,913) (5,636,406) (124,500)
Proceeds from sales and redemption of marketable securities 5,073,507 2,889,268 52,319
Other investing activities (5,615) 51,072 66,781
Net cash used in investing activities (340,655) (2,711,180) (45,427)
Financing activities      
Proceeds from the exercise of common stock options 745,396 218,238 86,089
Repurchases of common stock (64,196) 0 0
Taxes paid related to net share settlement of equity awards (218,280) 0 0
Other financing activities 444 601 (93)
Net cash provided by financing activities 463,364 218,839 85,996
Effect of foreign exchange on cash, cash equivalents, and restricted cash (6,745) 2,930 (3,885)
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,269,829 (1,777,228) 260,421
Cash, cash equivalents, and restricted cash - beginning of period 850,107 2,627,335 2,366,914
Cash, cash equivalents, and restricted cash - end of period 2,119,936 850,107 2,627,335
Supplemental disclosures of cash flow information      
Cash paid for income taxes 16,179 13,515 2,904
Noncash investing and financing activities      
Accrued taxes related to net share settlement of equity awards $ 84,207 $ 0 $ 0