| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
7,775 | -39,164 | 34,818 | 27,104 | 66,063 | 65,352 | 32,718 |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||
Stock-based compensation expense | ||||||
20,230 | 16,162 | 17,318 | 10,054 | 7,415 | 2,894 | 1,842 |
Depreciation | ||||||
55,900 | 52,700 | 37,900 | 28,078 | 19,221 | 15,512 | 11,918 |
Amortization of intangibles | ||||||
52,300 | 44,000 | 15,200 | 9,206 | 3,412 | 4,368 | 3,599 |
Amortization of premiums on short-term investments | ||||||
- | - | - | -3,163 | -2,212 | - | - |
Amortization of debt issuance costs and debt discount | ||||||
4,598 | 3,138 | 0 | 0 | - | - | - |
Tax payments for equity award issuances | ||||||
- | - | - | - | 697 | - | - |
Deferred income taxes | ||||||
-3,276 | -12,495 | -6,665 | -1,740 | 5,786 | 1,882 | -333 |
Restructuring expense, non-cash | ||||||
0 | 7,075 | 0 | 0 | - | - | - |
Loss on sale of short-term investments | ||||||
- | - | - | - | -328 | - | - |
Excess tax benefits from stock-based compensation | ||||||
- | - | - | - | 18,608 | - | - |
Loss (Gain) on disposal of equipment and long-lived assets | ||||||
- | - | - | - | -52 | - | - |
Loss on disposal of long-lived assets | ||||||
- | - | - | - | - | -197 | -250 |
Loss on impairment of long-lived assets | ||||||
- | - | - | - | - | 255 | - |
Change in fair value of contingent consideration | ||||||
115 | 7,212 | -5,200 | 706 | 0 | - | - |
Bargain purchase gain | ||||||
0 | 0 | 1,434 | 0 | 0 | - | - |
Other | ||||||
-877 | 621 | 2,364 | -332 | - | - | - |
Bad debt expense | ||||||
- | - | - | - | 0 | - | - |
Changes in assets and liabilities: | ||||||
Accounts receivable | ||||||
35,109 | -3,280 | 977 | -4,683 | 24,475 | 10,539 | -29,502 |
Prepaid expenses and other current assets | ||||||
489 | 20,002 | -3,346 | 6,198 | 1,110 | 3,484 | 181 |
Income taxes receivable | ||||||
-5,979 | -2,208 | -3,293 | -3,639 | -7,825 | 2,025 | 3,121 |
Other assets | ||||||
5,096 | 4,209 | 3,355 | -4,071 | 1,776 | 1,035 | 197 |
Accounts payable and accrued expenses | ||||||
10,608 | -6,007 | 8,252 | -3,463 | 4,474 | 2,120 | -1,468 |
Accrued compensation | ||||||
9,329 | 9,292 | 3,030 | 243 | -6,178 | 7,686 | -6,677 |
Other current and non-current liabilities | ||||||
-6,044 | 19,891 | -5,813 | 10,479 | 2,788 | 1,314 | -233 |
Deferred rent | ||||||
- | - | - | -770 | -575 | -357 | 230 |
Deferred revenue | ||||||
-6,964 | 6,674 | -4,360 | 3,907 | 3 | 1,388 | -1,834 |
Payment for acquisition-related contingent consideration | ||||||
2,549 | 0 | 0 | - | - | - | - |
Net cash provided by operating activities | ||||||
106,480 | 90,401 | 97,706 | 92,830 | 67,554 | 85,528 | 66,015 |
Cash flows from investing activities: | ||||||
Escrow funding associated with acquisition | ||||||
- | - | - | - | 7,875 | - | - |
Maturities of short-term investments | ||||||
6,964 | 96,588 | 174,416 | 300,524 | 177,723 | - | - |
Sales of short-term investments | ||||||
0 | 161,772 | 1,175 | 31,549 | 166,930 | - | - |
Purchases of short-term investments | ||||||
- | - | - | 164,737 | 964,037 | - | - |
Purchases of property and equipment | ||||||
22,809 | 25,505 | 32,565 | 19,360 | 6,486 | 7,518 | 9,202 |
Investment in capitalized software | ||||||
36,130 | 39,469 | 32,977 | 19,668 | 19,951 | 15,164 | 9,664 |
Acquisition, net of cash acquired of $0, $23,850 and $1,535, respectively | ||||||
0 | 1,082,740 | 3,490 | 88,509 | 114,718 | - | - |
Proceeds from sale of property and equipment | ||||||
- | - | - | - | 94 | 63 | 3 |
Net cash used in investing activities | ||||||
-51,975 | -889,354 | 106,559 | 39,799 | -768,320 | -22,619 | -18,863 |
Cash flows from financing activities: | ||||||
Proceeds from issuance of common stock, net of underwriters discount | ||||||
- | - | - | - | 362,082 | - | - |
Proceeds from issuance of treasury stock, net of underwriters discount | ||||||
- | - | - | - | 282,172 | - | - |
Payment of offering costs | ||||||
- | - | - | - | 5,182 | - | - |
Repurchase of common stock | ||||||
0 | 0 | 93,586 | 106,231 | 0 | 309,083 | 72,114 |
Sale of common stock | ||||||
- | - | - | - | - | - | 52,114 |
Proceeds from credit facility borrowings | ||||||
0 | 965,300 | 0 | 0 | - | 300,000 | - |
Repayment of credit facility borrowings | ||||||
59,800 | 238,700 | 30,000 | 15,000 | 18,750 | - | - |
Payments for debt issuance costs | ||||||
0 | 18,269 | 0 | 0 | - | - | - |
Dividends paid | ||||||
- | - | - | - | - | 2,852 | 23,511 |
Proceeds from exercise of stock options | ||||||
3,669 | 1,833 | 4,967 | 6,165 | 14,660 | 720 | 270 |
Finance lease liabilities paid | ||||||
2,393 | 1,201 | 113 | 116 | 112 | 130 | 115 |
Tax payments for equity award issuances | ||||||
5,878 | 3,363 | 4,272 | 1,498 | 1,245 | - | - |
Payment for acquisition-related contingent consideration | ||||||
12,600 | 0 | 0 | 2,300 | 0 | - | - |
Excess tax benefits from stock-based compensation | ||||||
- | - | - | - | 18,608 | 409 | 437 |
Increase in cash and cash equivalents | ||||||
-22,497 | -93,353 | 81,261 | 13,649 | -48,533 | 51,973 | 4,233 |
Net cash (used in) provided by financing activities | ||||||
-77,002 | 705,600 | -123,004 | -118,980 | 652,233 | -10,936 | -42,919 |
Supplemental cash flow disclosure: | ||||||
Income taxes paid (received), net | ||||||
-4,588 | -4,136 | 962 | 11,117 | 35,038 | 43,115 | 22,723 |
Interest paid | ||||||
62,768 | 43,573 | 5,972 | 4,835 | 4,359 | 1,101 | - |
Non-cash transactions: | ||||||
Finance lease obligations incurred | ||||||
- | - | - | 0 | 249 | 14 | 240 |
Tenant improvement allowance | ||||||
- | - | - | - | - | - | 1,536 |
Accruals for purchases of property and equipment | ||||||
3,156 | 12,097 | 7,924 | 816 | 3,189 | 2,089 | 1,209 |
Accruals for investment in capitalized software | ||||||
1,948 | 1,495 | 2,711 | 913 | 567 | 978 | 276 |
Leasehold improvement paid by lessor | ||||||
2,906 | 0 | 0 | - | - | - | - |
Acquisition consideration | ||||||
0 | 84,156 | 0 | 0 | - | - | - |