v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 26,624 $ (96,676)
Adjustments to reconcile net income (loss) to net cash provided from operating activities:    
Depreciation of property and equipment 12,933 10,792
Amortization of intangible assets 2,483 2,450
Noncash lease expense 4,896 2,245
Impairment of assets 3,707 1,217
Equity-based compensation 35,102 98,488
Deferred income tax (549) (593)
Amortization of revolver loan costs 252 598
Premium amortization and (discount accretion), net on marketable securities (9,835) (104)
Changes in operating assets and liabilities:    
Accounts receivable 433 3,229
Prepaid expenses and other assets (4,098) 3,138
Prepaid revenue share fee (2,954) (5,738)
Accounts payable 5,899 (771)
Accrued and other long term liabilities (10,990) 6,434
Deferred revenue 68,439 67,166
Operating lease liabilities (1,440) (2,845)
Net cash provided by operating activities 130,902 89,030
Cash flows from investing activities:    
Purchases of marketable securities (634,751) (581,263)
Sales of marketable securities 639,090 572,784
Business combinations (3,750) 0
Purchase of strategic investment (6,000) 0
Purchases of property and equipment (21,825) (23,073)
Purchase of intangible assets (129) (336)
Net cash used in investing activities (27,365) (31,888)
Cash flows from financing activities:    
Repurchase of Class A Common Stock (56,124) (4,902)
Payment of dividend (6,320) 0
Payment of special dividend (18,129) 0
Distributions to members (4,322) 0
Tax distribution to members (13,929) (171)
Debt issuance costs (396) (297)
Payment of taxes on net settled stock-based awards (4,694) (2,381)
Net cash used in financing activities (103,914) (7,751)
Net (decrease) increase in cash, cash equivalents, and restricted cash (377) 49,391
Cash, cash equivalents, and restricted cash, beginning of period 68,884 309,126
Exchange rate effect on cash and cash equivalents, and restricted cash 80 (107)
Cash, cash equivalents, and restricted cash, end of period $ 68,587 $ 358,410

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