v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income $ 32,831 $ 38,361
Adjustments to reconcile net income to net cash provided by operating activities    
Bad debt expense 3,546 6,901
Depreciation and amortization expense 33,415 29,365
Amortization of debt issuance costs 334 221
Non-cash lease expense 5,329 4,899
Deferred taxes (17,253) (19,721)
Stock-based compensation expense 67,906 42,771
Interest (income) expense, net (854) 176
Loss on disposal of fixed assets   5
Other 1,360 874
Changes in operating assets and liabilities, net of effects of business combinations    
Trade receivables 10,333 (25,787)
Prepaid expenses and other assets (12,592) (9,370)
Trade payables 617 2,475
Accrued expenses and other liabilities (2,692) (3,484)
Net cash provided by operating activities 122,280 67,686
Investing activities:    
Purchase of property, plant and equipment (19,792) (12,309)
Acquisition of businesses, net of cash acquired   (67,240)
Purchase of short-term investments (81,937)  
Proceeds from maturity of short-term investments 32,210  
Net cash used in investing activities (69,519) (79,549)
Financing activities:    
Proceeds from revolving credit facility   50,000
Payments to revolving credit facility   (50,000)
Proceeds from common stock issued upon exercise of stock options 2,889 7,810
Proceeds from common stock issued under employee purchase plan 1,914 1,138
Finance lease payments (1,940) (1,605)
Shares repurchased under the Repurchase Program (50,052)  
Shares repurchased for settlement of employee tax withholdings (3,088) (3,698)
Net cash (used in) provided by financing activities (50,277) 3,645
Effect of exchange rate changes on cash and cash equivalents and restricted cash 150 (389)
Net increase (decrease) in cash, cash equivalents, and restricted cash 2,634 (8,607)
Cash, cash equivalents, and restricted cash - Beginning of period 310,257 267,938
Cash, cash equivalents, and restricted cash - End of period 312,891 259,331
Supplemental cash flow information:    
Cash paid for taxes 36,141 52,738
Cash paid for interest 430 427
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities, net of impairments and tenant improvement allowances 14,553 2,017
Acquisition of equipment under finance lease   5,479
Capital assets financed by accounts payable and accrued expenses 82  
Stock-based compensation included in capitalized software development costs $ 1,585 708
Common stock issued in connection with acquisition   52,937
Liabilities for contingent consideration   $ 1,193

Source

PDF HTML
10-Q Filing
ZIP XLS HTML
XBRL