| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Operating Activities | ||||||
Net income | ||||||
42,146 | 65,170 | 13,199 | 6,497 | -1,636 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
7,817 | 5,029 | 3,795 | 2,072 | 1,122 | ||
Currency gain on foreign denominated transactions | ||||||
690 | 190 | -128 | - | - | ||
Deferred taxes | ||||||
-3,734 | -39,040 | -1,117 | 782 | -649 | ||
Provision for doubtful accounts | ||||||
1,091 | 1,680 | 1,117 | 508 | 284 | ||
Stock-based compensation expense | ||||||
34,301 | 20,794 | 5,028 | 322 | 1,040 | ||
Amortization of deferred contract costs | ||||||
8,416 | 3,689 | - | - | - | ||
Excess tax benefit related to exercise of stock options | ||||||
- | - | - | 821 | 26 | ||
Changes in operating assets and liabilities: | ||||||
Accounts receivable, net | ||||||
9,608 | 1,911 | 7,039 | 1,432 | 716 | ||
Prepaid expenses, prepaid income taxes, and other assets | ||||||
378 | 11,753 | 2,287 | 2,226 | 820 | ||
Deferred contract costs | ||||||
15,979 | 12,987 | - | - | - | ||
Accounts payable | ||||||
4,268 | 9,345 | 6,244 | 5,811 | 6,104 | ||
Accrued expenses, accrued income taxes, and other current liabilities | ||||||
2,151 | 2,695 | 5,191 | 4,118 | - | ||
Deferred revenue | ||||||
1,174 | 4,508 | 962 | 1,856 | 1,089 | ||
Accrued expenses | ||||||
- | - | - | - | 2,469 | ||
Lease obligations | ||||||
-1,468 | -4,289 | -227 | -1,927 | -4,654 | ||
Other non-current liabilities | ||||||
609 | 405 | 243 | 590 | - | ||
Net cash provided by operating activities | ||||||
70,116 | 51,723 | 25,691 | 20,004 | 12,915 | ||
Investing Activities | ||||||
Purchases of property and equipment | ||||||
11,205 | 5,956 | 5,157 | 5,846 | 6,353 | ||
Capitalization of website development costs | ||||||
3,021 | 1,522 | 2,215 | 1,372 | 1,262 | ||
Cash paid for acquisition | ||||||
19,139 | - | - | - | - | ||
Investments in certificates of deposit | ||||||
177,808 | 212,800 | 50,000 | 59,774 | - | ||
Maturities of certificates of deposit | ||||||
188,916 | 140,000 | 44,774 | 15,000 | - | ||
Net cash provided by (used in) investing activities | ||||||
-22,257 | -80,278 | -12,598 | -51,992 | -7,615 | ||
Initial public offering proceeds | ||||||
- | - | 47,690 | - | - | ||
Payment of initial public offering costs | ||||||
- | 1,142 | 3,308 | - | - | ||
Proceeds from issuance of preferred stock | ||||||
- | - | - | 59,732 | 67,872 | ||
Proceeds from exercise of stock options | ||||||
1,807 | 3,632 | 398 | 137 | 67 | ||
Payment of finance lease obligations | ||||||
30 | - | - | - | - | ||
Payment of withholding taxes and option costs on net share settlement of restricted stock units and stock options | ||||||
16,470 | 25,885 | - | - | - | ||
Excess tax benefit related to exercise of stock options | ||||||
- | - | - | 821 | 26 | ||
Cash paid for repurchase of preferred stock, common stock, and vested options | ||||||
- | - | - | 60,000 | 18,000 | ||
Net cash used in financing activities | ||||||
-14,693 | -23,395 | 44,780 | 690 | 49,965 | ||
Impact of foreign currency on cash, cash equivalents, and restricted cash | ||||||
-1 | -44 | 159 | -45 | - | ||
Net increase (decrease) in cash, cash equivalents, and restricted cash | ||||||
33,165 | -51,994 | 58,032 | -31,343 | 55,265 | ||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for income taxes | ||||||
300 | 2,308 | 4,393 | 2,045 | 316 | ||
Cash paid for interest | ||||||
- | - | - | 26 | 17 | ||
Supplemental disclosure of non–cash investing and financing activities: | ||||||
Unpaid purchases of property and equipment | ||||||
647 | 5,287 | 510 | 476 | - | ||
Unpaid initial public offering costs | ||||||
- | - | 1,142 | - | - | ||
Capitalized stock-based compensation expense in website development and internal-use software costs | ||||||
1,381 | 490 | 176 | - | - | ||
Cash paid for operating lease liabilities | ||||||
10,906 | - | - | - | - | ||