| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||||||
Net income | ||||||||||||
42,258 | 42,146 | 41,425 | 44,923 | 72,259 | 65,170 | 54,987 | 43,484 | 14,487 | 13,199 | 0 | 0 | 0 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
Depreciation and amortization | ||||||||||||
9,180 | 7,817 | 6,923 | 6,113 | 5,419 | 5,029 | 4,890 | 4,665 | 4,362 | 3,795 | 0 | 0 | 0 |
Currency gain on foreign denominated transactions | ||||||||||||
-41 | 690 | 1,061 | 1,011 | 1,076 | 190 | 0 | 0 | 0 | - | - | - | - |
Deferred taxes | ||||||||||||
5,422 | -3,734 | -9,522 | -17,256 | -41,415 | -39,040 | -34,997 | -28,627 | -2,409 | -1,117 | 0 | 0 | 0 |
Provision for doubtful accounts | ||||||||||||
2,278 | 1,091 | 1,129 | 1,326 | 1,318 | 1,680 | 1,819 | 1,459 | 1,335 | 1,117 | 0 | 0 | 0 |
Stock-based compensation expense | ||||||||||||
38,221 | 34,301 | 31,233 | 28,000 | 24,662 | 20,794 | 19,755 | 14,301 | 8,770 | 5,028 | 0 | 0 | 0 |
Amortization of deferred contract costs | ||||||||||||
9,422 | 8,416 | 7,131 | 6,022 | 5,006 | 3,689 | 0 | 0 | 0 | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||||||
Accounts receivable, net | ||||||||||||
2,688 | 9,608 | 5,727 | 6,322 | 3,563 | 1,911 | 4,194 | 3,746 | 5,879 | 7,039 | 0 | 0 | 0 |
Prepaid expenses, prepaid income taxes, and other assets | ||||||||||||
9,665 | 378 | 3,976 | 9,512 | 13,006 | 11,753 | 12,078 | 5,709 | 4,391 | 2,287 | 0 | 0 | 0 |
Deferred contract costs | ||||||||||||
14,899 | 15,979 | 14,714 | 14,253 | 14,187 | 12,987 | 0 | 0 | 0 | - | - | - | - |
Accounts payable | ||||||||||||
-6,394 | 4,268 | 8,623 | 8,039 | 11,921 | 9,345 | 11,297 | 12,382 | 6,849 | 6,244 | 0 | 0 | 0 |
Accrued expenses, accrued income taxes, and other current liabilities | ||||||||||||
1,810 | 2,151 | 3,612 | 3,377 | 2,337 | 2,695 | 2,812 | 3,984 | 2,826 | 5,191 | 0 | 0 | 0 |
Deferred revenue | ||||||||||||
-3,896 | 1,174 | 100 | 861 | 1,829 | 4,508 | 3,078 | 3,026 | 2,739 | 962 | 0 | 0 | 0 |
Lease obligations | ||||||||||||
-809 | -1,468 | -7,637 | -5,735 | -5,454 | -4,289 | 1,501 | 7 | -712 | -227 | 0 | 0 | 0 |
Other non-current liabilities | ||||||||||||
291 | 609 | 558 | 454 | 406 | 405 | 332 | 325 | 331 | 243 | 0 | 0 | 0 |
Net cash provided by operating activities | ||||||||||||
70,572 | 70,116 | 66,675 | 53,604 | 55,034 | 51,723 | 41,748 | 39,449 | 26,820 | 25,691 | 0 | 0 | 0 |
Investing Activities | ||||||||||||
Purchases of property and equipment | ||||||||||||
6,719 | 11,205 | 14,848 | 13,559 | 11,222 | 5,956 | 2,783 | 4,162 | 5,432 | 5,157 | 0 | 0 | 0 |
Capitalization of website development costs | ||||||||||||
2,876 | 3,021 | 2,618 | 2,324 | 1,752 | 1,522 | 1,706 | 1,993 | 2,234 | 2,215 | 0 | 0 | 0 |
Cash paid for acquisition, net of cash acquired | ||||||||||||
0 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Investments in certificates of deposit | ||||||||||||
- | 177,808 | 217,608 | 179,327 | 178,500 | 212,800 | 130,000 | 150,000 | 80,000 | 50,000 | 0 | 0 | 0 |
Maturities of certificates of deposit | ||||||||||||
179,327 | 188,916 | 152,800 | 170,000 | 150,000 | 140,000 | 120,000 | 88,000 | 48,000 | 44,774 | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | ||||||||||||
-3,380 | -22,257 | -101,413 | -44,349 | -60,613 | -80,278 | -14,489 | -68,155 | -39,666 | -12,598 | 0 | 0 | 0 |
Payment of initial public offering costs | ||||||||||||
- | - | - | - | - | 1,142 | 0 | 0 | 0 | - | - | - | - |
Proceeds from exercise of stock options | ||||||||||||
1,624 | 1,807 | 2,027 | 2,335 | 4,249 | 3,632 | 3,171 | 2,615 | 369 | 398 | 0 | 0 | 0 |
Payment of finance lease obligations | ||||||||||||
33 | 30 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Payment of withholding taxes on net share settlement of restricted stock units | ||||||||||||
0 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Net cash used in financing activities | ||||||||||||
-14,322 | -14,693 | -14,795 | -14,665 | -25,596 | -23,395 | 26,672 | 28,672 | 43,609 | 44,780 | 0 | 0 | 0 |
Impact of foreign currency on cash, cash equivalents, and restricted cash | ||||||||||||
-6 | -1 | -87 | 56 | -91 | -44 | -52 | 47 | 157 | 159 | 0 | 0 | 0 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | ||||||||||||
52,864 | 33,165 | -49,620 | -5,354 | -31,266 | -51,994 | 53,879 | 13 | 30,920 | 58,032 | 0 | 0 | 0 |
Supplemental disclosure of cash flow information: | ||||||||||||
Cash paid for income taxes | ||||||||||||
306 | 300 | 141 | 116 | 2,317 | 2,308 | 2,493 | 6,026 | 4,351 | 4,393 | 0 | 0 | 0 |
Cash paid for interest | ||||||||||||
- | - | - | - | - | - | - | 0 | 28 | - | 0 | 0 | 0 |
Supplemental disclosure of non–cash investing and financing activities: | ||||||||||||
Unpaid purchases of property and equipment | ||||||||||||
-498 | 647 | 3,330 | 7,225 | 7,211 | 5,287 | 1,972 | -1,049 | -478 | 510 | 0 | 0 | 0 |
Capitalized stock-based compensation expense in website development and internal-use software costs | ||||||||||||
1,320 | 1,381 | 1,141 | 906 | 650 | 490 | 0 | 0 | 0 | - | - | - | - |
Cash paid for operating lease liabilities | ||||||||||||
11,925 | 10,906 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |