| Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||
Net income | ||||||||
301,118 | 229,832 | 151,177 | 77,572 | 54,460 | 40,383 | 23,615 | 18,783 | 4,230 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
19,859 | 14,071 | 14,277 | 13,825 | 8,464 | 3,929 | 2,410 | 789 | 407 |
Reduction of operating lease right-of-use assets | ||||||||
7,966 | - | - | - | - | - | - | - | - |
Amortization of premiums (accretion of discount) on short-term investments | ||||||||
3,274 | 2,431 | -1,389 | -1,852 | -2,804 | -2,176 | -364 | -101 | - |
Stock-based compensation | ||||||||
115,906 | 76,425 | 54,049 | 40,798 | 24,258 | 14,325 | 6,950 | 715 | 434 |
Amortization of deferred costs | ||||||||
20,521 | 18,378 | 16,647 | 14,187 | - | - | - | - | - |
Deferred income taxes | ||||||||
-6,663 | -8,091 | 1,209 | -1,120 | -6,264 | -4,268 | -1,781 | -639 | 530 |
(Gain) Loss on foreign currency from market-to-market derivative | ||||||||
120 | 177 | -265 | - | - | - | - | - | - |
Bad debt expense (recovery) | ||||||||
244 | 198 | -242 | 130 | 201 | 227 | 35 | 540 | 300 |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | ||||||||
55,531 | 78,995 | 47,799 | 36,647 | 46,653 | 34,455 | 19,738 | 17,067 | 12,838 |
Unbilled accounts receivable | ||||||||
14,555 | 4,774 | 4,329 | 3,026 | - | - | - | - | - |
Deferred costs | ||||||||
25,237 | 18,941 | 18,795 | 20,408 | - | - | - | - | - |
Income taxes payable | ||||||||
1,131 | 637 | -2,520 | 911 | -2,994 | 3,326 | -4,784 | 5,124 | -988 |
Prepaid expenses and other current and long-term assets | ||||||||
2,700 | 10,562 | 2,493 | -831 | -180 | 4,652 | 2,951 | 593 | 296 |
Accounts payable | ||||||||
2,813 | 1,822 | 1,396 | 1,113 | -494 | 1,290 | -1,303 | 1,747 | 416 |
Accrued expenses and other current liabilities | ||||||||
-15,230 | 963 | 7,149 | 336 | 5,042 | -754 | 9,690 | -4 | 4,784 |
Deferred revenue | ||||||||
97,753 | 89,416 | 58,240 | 51,234 | 39,357 | 45,580 | 28,473 | 20,860 | 7,511 |
Operating lease liabilities | ||||||||
-7,480 | - | - | - | - | - | - | - | - |
Other long-term liabilities | ||||||||
854 | 3,056 | 3,818 | 2,423 | 1,793 | 467 | 773 | 443 | 246 |
Net cash provided by operating activities | ||||||||
437,375 | 310,827 | 233,438 | 144,011 | 80,154 | 67,574 | 41,753 | 30,799 | 4,736 |
Cash flows from investing activities | ||||||||
Purchases of short-term investments | ||||||||
752,518 | 726,379 | 437,858 | 314,847 | 313,357 | 401,955 | 21,403 | 14,372 | - |
Maturities and sales of short-term investments | ||||||||
688,091 | 632,329 | 294,705 | 225,600 | 364,968 | 156,860 | 9,700 | - | - |
Purchases of property and equipment | ||||||||
3,113 | 8,440 | 9,633 | 6,923 | 21,153 | 26,531 | 1,860 | 964 | 650 |
Acquisitions, net of cash and restricted cash acquired | ||||||||
448,162 | 0 | 0 | - | 126,183 | - | 12,149 | - | - |
Purchases of intangible assets | ||||||||
- | - | - | - | 568 | - | - | - | - |
Capitalized internal-use software development costs | ||||||||
1,208 | 1,379 | 1,734 | 584 | 431 | 413 | 1,117 | 590 | 543 |
Proceeds from note receivablerelated party | ||||||||
- | - | - | - | - | - | 253 | -3 | -250 |
Changes in restricted cash and deposits | ||||||||
- | - | - | - | -41 | -21 | - | 435 | 240 |
Net cash used in investing activities | ||||||||
-516,910 | -103,869 | -154,520 | -96,754 | -96,683 | -272,018 | -26,576 | -16,364 | -1,683 |
Cash flows from financing activities | ||||||||
Reduction of lease liabilities - finance leases | ||||||||
984 | - | - | - | - | - | - | - | - |
Proceeds from early exercise of common stock options | ||||||||
- | - | - | - | 10 | - | 229 | 439 | 43 |
Proceeds from exercise of common stock options | ||||||||
10,994 | 25,910 | 20,773 | 12,362 | 5,875 | 5,813 | 514 | 136 | 6 |
Net proceeds from offerings | ||||||||
- | - | - | - | - | 34,172 | 214,523 | - | - |
Proceeds from Employee Stock Purchase Plan | ||||||||
- | - | - | - | - | 5,951 | - | - | - |
Restricted stock units acquired to settle employee tax withholding liability | ||||||||
- | - | - | 14 | 6 | 15 | - | - | - |
Net cash provided by financing activities | ||||||||
10,010 | 25,910 | 20,773 | 37,976 | 19,406 | 71,262 | 215,440 | 575 | 49 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | ||||||||
-2,856 | -2,077 | 3,089 | 91 | 49 | -72 | - | - | - |
Net change in cash, cash equivalents, and restricted cash | ||||||||
-72,381 | 230,791 | 102,780 | 85,324 | 2,926 | -133,254 | 230,617 | 15,010 | 3,102 |
Supplemental disclosures of other cash flow information: | ||||||||
Cash paid for income taxes, net of refunds | ||||||||
14,289 | 19,541 | 12,461 | 14,154 | 19,968 | 1,515 | 20,673 | 5,659 | 2,636 |
Excess tax benefits from employee stock plans | ||||||||
50,411 | 45,830 | 45,864 | 25,628 | 13,527 | 25,341 | 174 | - | - |
Non-cash investing and financing activities: | ||||||||
Changes in accounts payable and accrued expenses related to property and equipment purchases | ||||||||
567 | 644 | -1,388 | 460 | 334 | 688 | 18 | 80 | - |
Vesting of early exercised stock options | ||||||||
- | - | - | 26 | 70 | 377 | 572 | 224 | 260 |
Offering costs not yet paid | ||||||||
- | - | - | - | - | - | 323 | - | - |