Dynatrace, Inc(NYSE:DT) 
Dynatrace, Inc. provides a software intelligence platform for the enterprise cloud applications. It operates Dynatrace, a platform for running and optimizing multi-cloud environments. Its products include AppMon that works in various application environments, such as mobile apps, web apps, web brows...
Website: http://www.dynatrace.com
Founded: 2005
IPO Price: $16 (Aug 01, 2019)
Full Time Employees: 4,180 (Mar 2023)
Co-Founder: Bernd Greifeneder
CEO: Rick M. McConnell
Sector: Technology
Industry: Software-Application
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At a glance:
- Unified AI-Powered Observability Platform: Dynatrace provides a comprehensive, AI-driven software intelligence platform offering full-stack observability for complex, cloud-native applications and infrastructure.
- Critical for Enterprise Performance & Security: The platform enables large enterprises to monitor, optimize, and secure their digital services, ensuring high performance, availability, and compliance across their IT environments.
- AI-Driven Automation & Intelligent Insights: Leveraging its patented AI engine, Dynatrace automatically discovers dependencies, analyzes root causes, and provides actionable insights, significantly reducing manual effort and accelerating problem resolution.
- Strong SaaS Business Model & Enterprise Focus: Operating on a subscription-based SaaS model, Dynatrace generates high recurring revenue from a global base of large enterprise customers, driving consistent financial growth.
Bull Thesis:
- Strong Market Leadership in Critical Observability Space: Dynatrace holds a leading position in the rapidly expanding observability and AIOps market. Driven by the increasing complexity of cloud-native environments and the need for automated, AI-powered insights, its platform approach is well-suited for large enterprises seeking comprehensive monitoring solutions.
- Differentiated AI-Powered Platform and Unified Approach: The company's unique AI engine (Davis) provides automatic and precise root-cause analysis across the entire technology stack. This unified platform reduces operational overhead and mean time to resolution (MTTR) for customers, offering a significant differentiation against competitors providing more fragmented point solutions.
- High Enterprise Customer Retention and Expansion: Dynatrace's focus on large enterprise customers typically results in high net retention rates. This indicates strong customer satisfaction and significant opportunities for upsell and cross-sell as these enterprises expand their cloud footprints and adopt more of Dynatrace's capabilities across their evolving IT landscapes.
- Expanding Total Addressable Market (TAM) with Security and Business Analytics: Dynatrace is strategically expanding its platform beyond traditional Application Performance Monitoring (APM) into high-growth areas like application security and business analytics. This expansion significantly increases its total addressable market and opens new avenues for substantial revenue growth.
Bear Thesis:
- Intense Competition and Potential for Pricing Pressure: The observability market is highly competitive, with well-funded rivals such as Datadog, Splunk, New Relic, and offerings from major cloud providers. This intense competition could lead to pricing pressure, slower market share gains, and increased customer acquisition costs for Dynatrace.
- Exposure to Enterprise IT Spending Slowdown: Dynatrace's primary focus on large enterprise deals makes it susceptible to macroeconomic headwinds. A slowdown in global IT spending or enterprise budget tightening could lead to longer sales cycles for new customers and reduced expansion from existing customers, impacting growth.
- Valuation Concerns Amidst Decelerating Growth: While Dynatrace has demonstrated strong growth, some investors may view its current valuation as stretched, especially if there are signs of growth deceleration or if the company struggles to achieve consistent GAAP profitability due to factors like stock-based compensation.
- Integration Complexity for Large Enterprises: Despite its unified platform, integrating a comprehensive observability solution like Dynatrace into highly complex, often legacy-laden enterprise IT environments can still be a significant undertaking. This complexity could lead to slower adoption or implementation challenges for some customers, delaying time-to-value.
Main Competitors:
- Datadog, Inc. ($DDOG) (Datadog Platform (APM, Infrastructure Monitoring, Log Management, RUM, Security Monitoring)), Datadog offers a comprehensive, cloud-native observability platform that directly competes with Dynatrace across all major pillars: application performance monitoring (APM), infrastructure monitoring, log management, real user monitoring (RUM), and security monitoring. Datadog is known for its ease of use, broad integration ecosystem, and strong focus on developer experience, often appealing to cloud-native organizations and those prioritizing a unified dashboard experience.
- New Relic, Inc. ($NEWR) (New Relic One (APM, Infrastructure Monitoring, Log Management, Browser, Mobile, Synthetics)), New Relic is a long-standing competitor in the APM space, having evolved its platform into New Relic One, a full-stack observability solution. It competes with Dynatrace by offering a unified data platform for metrics, events, logs, and traces, enabling customers to monitor applications, infrastructure, and user experience. New Relic often differentiates on its consumption-based pricing model and its focus on providing a single pane of glass for all telemetry data.
- Splunk Inc. ($SPLK) (Splunk Observability Cloud (SignalFx APM, Infrastructure Monitoring, Log Observer, RUM), Splunk Enterprise), While traditionally known for log management and SIEM, Splunk has significantly expanded its observability offerings, particularly with the acquisition of SignalFx. Splunk Observability Cloud directly competes with Dynatrace by providing APM, infrastructure monitoring, log management, and RUM capabilities, especially for cloud-native environments. Splunk leverages its strong enterprise presence and data analytics capabilities to offer insights across operational and security data.
- AppDynamics (a Cisco company) ($CSCO) (AppDynamics Business iQ Platform (APM, Infrastructure Monitoring, End User Monitoring, Business Performance Monitoring)), AppDynamics is another established leader in the APM market, now part of Cisco. It competes with Dynatrace by offering deep application performance monitoring, infrastructure visibility, and end-user experience monitoring, with a strong emphasis on correlating technical performance to business outcomes (Business iQ). AppDynamics often targets large enterprises with complex, hybrid environments, leveraging Cisco's extensive network and security portfolio.
Moat:
The observability market is highly competitive, with Dynatrace facing strong rivals across various segments. Its primary competitive advantage lies in its highly automated, AI-powered (Davis AI) full-stack observability platform, offering deep insights and automatic root-cause analysis from a single agent and data model. Competitors like Datadog and New Relic offer broad cloud-native observability platforms, often appealing with their ease of use and extensive integrations. AppDynamics (Cisco) and Splunk (with SignalFx) also compete fiercely, particularly in large enterprise and hybrid cloud environments, leveraging their established customer bases and expanding their own observability suites. The ongoing competition centers on platform unification, AI-driven insights, ease of deployment, and comprehensive coverage across modern cloud-native and traditional IT landscapes, with a growing emphasis on security observability.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue: | ||||||||||||||||||||||||||
subscription | 473,089,000 | 457,507,000 | 423,570,000 | 417,207,000 | 399,810,000 | 381,576,000 | 360,109,000 | 348,294,000 | 334,497,000 | 316,454,000 | 293,314,000 | 279,152,000 | 261,306,000 | 249,558,000 | 234,974,000 | 226,290,000 | 212,601,000 | 196,520,000 | 182,842,000 | 170,308,000 | 157,673,000 | 144,357,000 | 135,366,000 | 128,518,000 | 115,805,000 | |
service | 20,760,000 | 19,842,000 | 21,595,000 | 18,962,000 | 18,319,000 | 17,644,000 | 20,739,000 | 16,802,000 | 17,203,000 | 16,432,000 | 21,161,000 | 18,304,000 | 18,020,000 | 17,715,000 | 17,609,000 | 14,474,000 | 13,753,000 | 13,170,000 | 13,553,000 | 12,346,000 | 10,471,000 | 10,513,000 | 12,949,000 | 10,885,000 | 10,828,000 | |
total revenue | 493,849,000 | 477,349,000 | 445,165,000 | 436,169,000 | 418,129,000 | 399,220,000 | 380,848,000 | 365,096,000 | 351,700,000 | 332,886,000 | 314,475,000 | 297,456,000 | 279,326,000 | 267,273,000 | 252,585,000 | 240,766,000 | 226,354,000 | 209,740,000 | 196,504,000 | 182,911,000 | 168,586,000 | 155,508,000 | 150,577,000 | 143,298,000 | 129,378,000 | 122,550,000 |
yoy | 18.11% | 19.57% | 16.89% | 19.47% | 18.89% | 19.93% | 21.11% | 22.74% | 25.91% | 24.55% | 24.50% | 23.55% | 23.40% | 27.43% | 28.54% | 31.63% | 34.27% | 34.87% | 30.50% | 27.64% | 30.30% | 26.89% | ||||
qoq | 3.46% | 7.23% | 2.06% | 4.31% | 4.74% | 4.82% | 4.31% | 3.81% | 5.65% | 5.85% | 5.72% | 6.49% | 4.51% | 5.82% | 4.91% | 6.37% | 7.92% | 6.74% | 7.43% | 8.50% | 8.41% | 3.27% | 5.08% | 10.76% | 5.57% | |
cost of revenue: | ||||||||||||||||||||||||||
cost of subscription | 68,404,000 | 65,018,000 | 63,265,000 | 60,666,000 | 55,796,000 | 53,572,000 | 50,181,000 | 46,888,000 | 44,792,000 | 42,904,000 | 39,052,000 | 36,891,000 | 35,764,000 | 32,738,000 | 31,245,000 | 28,284,000 | 27,135,000 | 24,982,000 | 22,073,000 | 20,382,000 | 18,327,000 | 16,706,000 | 17,263,000 | 16,297,000 | 23,456,000 | |
cost of service | 20,501,000 | 19,355,000 | 21,095,000 | 18,139,000 | 17,595,000 | 16,802,000 | 17,462,000 | 16,744,000 | 15,675,000 | 15,542,000 | 16,618,000 | 15,044,000 | 16,052,000 | 15,168,000 | 12,796,000 | 12,232,000 | 10,668,000 | 10,021,000 | 9,432,000 | 8,907,000 | 8,554,000 | 8,010,000 | 10,049,000 | 8,584,000 | 11,847,000 | |
amortization of acquired technology | 859,000 | 836,000 | 734,000 | 3,756,000 | 4,393,000 | 4,379,000 | 4,230,000 | 4,237,000 | 3,900,000 | 3,898,000 | 3,895,000 | 3,889,000 | 3,888,000 | 3,892,000 | 3,875,000 | 3,944,000 | 3,864,000 | 3,830,000 | 3,830,000 | 3,831,000 | 3,830,000 | 3,826,000 | 3,825,000 | 3,824,000 | 4,243,000 | 4,557,000 |
total cost of revenue | 89,764,000 | 85,209,000 | 85,094,000 | 82,561,000 | 77,784,000 | 74,753,000 | 71,873,000 | 67,869,000 | 64,367,000 | 62,344,000 | 59,565,000 | 55,824,000 | 55,704,000 | 51,798,000 | 47,916,000 | 44,460,000 | 41,667,000 | 38,833,000 | 35,335,000 | 33,120,000 | 30,711,000 | 28,542,000 | 31,137,000 | 28,705,000 | 39,546,000 | |
gross profit | 404,085,000 | 392,140,000 | 360,071,000 | 353,608,000 | 340,345,000 | 324,467,000 | 308,975,000 | 297,227,000 | 287,333,000 | 270,542,000 | 254,910,000 | 241,632,000 | 223,622,000 | 215,475,000 | 204,669,000 | 196,306,000 | 184,687,000 | 170,907,000 | 161,169,000 | 149,791,000 | 137,875,000 | 126,966,000 | 119,440,000 | 114,593,000 | 89,832,000 | 93,007,000 |
yoy | 18.73% | 20.86% | 16.54% | 18.97% | 18.45% | 19.93% | 21.21% | 23.01% | 28.49% | 25.56% | 24.55% | 23.09% | 21.08% | 26.08% | 26.99% | 31.05% | 33.95% | 34.61% | 34.94% | 30.72% | 53.48% | 36.51% | ||||
qoq | 3.05% | 8.91% | 1.83% | 3.90% | 4.89% | 5.01% | 3.95% | 3.44% | 6.21% | 6.13% | 5.50% | 8.05% | 3.78% | 5.28% | 4.26% | 6.29% | 8.06% | 6.04% | 7.60% | 8.64% | 8.59% | 6.30% | 4.23% | 27.56% | -3.41% | |
gross margin % | 81.82% | 82.15% | 80.88% | 81.07% | 81.40% | 81.28% | 81.13% | 81.41% | 81.70% | 81.27% | 81.06% | 81.23% | 80.06% | 80.62% | 81.03% | 81.53% | 81.59% | 81.49% | 82.02% | 81.89% | 81.78% | 81.65% | 79.32% | 79.97% | 69.43% | 75.89% |
operating expenses: | ||||||||||||||||||||||||||
research and development | 114,992,000 | 108,172,000 | 103,285,000 | 98,343,000 | 95,366,000 | 87,578,000 | 84,271,000 | 80,102,000 | 74,084,000 | 66,282,000 | 64,549,000 | 53,411,000 | 51,907,000 | 48,482,000 | 42,833,000 | 40,876,000 | 37,908,000 | 34,725,000 | 31,668,000 | 28,730,000 | 27,512,000 | 23,505,000 | 24,509,000 | 22,517,000 | 46,596,000 | 25,659,000 |
sales and marketing | 167,675,000 | 165,314,000 | 161,797,000 | 154,472,000 | 144,224,000 | 145,106,000 | 148,788,000 | 132,723,000 | 127,605,000 | 125,117,000 | 126,807,000 | 111,524,000 | 104,669,000 | 105,015,000 | 101,300,000 | 94,033,000 | 86,301,000 | 80,482,000 | 74,805,000 | 64,829,000 | 56,690,000 | 49,163,000 | 55,594,000 | 52,400,000 | 99,966,000 | 58,215,000 |
general and administrative | 48,437,000 | 56,304,000 | 52,062,000 | 49,354,000 | 48,953,000 | 44,978,000 | 47,337,000 | 43,232,000 | 44,749,000 | 39,094,000 | 37,394,000 | 36,242,000 | 40,074,000 | 36,321,000 | 35,368,000 | 32,643,000 | 31,689,000 | 26,922,000 | 25,140,000 | 23,442,000 | 22,110,000 | 21,527,000 | 21,265,000 | 21,883,000 | 86,953,000 | 31,882,000 |
amortization of other intangibles | 12,000 | 12,000 | 13,000 | 3,975,000 | 4,776,000 | 4,776,000 | 5,455,000 | 5,451,000 | 5,627,000 | 5,760,000 | 6,573,000 | 6,573,000 | 6,573,000 | 6,573,000 | 7,539,000 | 7,539,000 | 7,539,000 | 7,540,000 | 8,687,000 | 8,685,000 | 8,686,000 | 8,686,000 | 10,038,000 | 10,039,000 | 10,061,000 | 10,142,000 |
total operating expenses | 331,116,000 | 329,802,000 | 317,157,000 | 306,144,000 | 293,319,000 | 282,438,000 | 285,852,000 | 261,507,000 | 252,064,000 | 236,254,000 | 235,479,000 | 207,745,000 | 203,223,000 | 196,381,000 | 187,040,000 | 175,091,000 | 163,436,000 | 149,695,000 | 140,317,000 | 125,684,000 | 115,044,000 | 102,860,000 | 111,405,000 | 107,038,000 | 244,355,000 | 126,013,000 |
income from operations | 72,969,000 | 62,338,000 | 42,914,000 | 47,464,000 | 47,026,000 | 42,029,000 | 23,123,000 | 35,720,000 | 35,269,000 | 34,288,000 | 19,431,000 | 33,887,000 | 20,399,000 | 19,094,000 | 17,629,000 | 21,215,000 | 21,251,000 | 21,212,000 | 20,852,000 | 24,107,000 | 22,831,000 | 24,106,000 | 8,035,000 | 7,555,000 | -154,523,000 | -33,006,000 |
yoy | 55.17% | 48.32% | 85.59% | 32.88% | 33.34% | 22.58% | 19.00% | 5.41% | 72.90% | 79.57% | 10.22% | 59.73% | -4.01% | -9.98% | -15.46% | -12.00% | -6.92% | -12.01% | 159.51% | 219.09% | -114.78% | -173.04% | ||||
qoq | 17.05% | 45.26% | -9.59% | 0.93% | 11.89% | 81.76% | -35.27% | 1.28% | 2.86% | 76.46% | -42.66% | 66.12% | 6.83% | 8.31% | -16.90% | -0.17% | 0.18% | 1.73% | -13.50% | 5.59% | -5.29% | 200.01% | 6.35% | -104.89% | 368.17% | |
operating margin % | 14.78% | 13.06% | 9.64% | 10.88% | 11.25% | 10.53% | 6.07% | 9.78% | 10.03% | 10.30% | 6.18% | 11.39% | 7.30% | 7.14% | 6.98% | 8.81% | 9.39% | 10.11% | 10.61% | 13.18% | 13.54% | 15.50% | 5.34% | 5.27% | -119.44% | -26.93% |
interest income | 13,242,000 | 12,295,000 | 10,930,000 | 11,726,000 | 12,850,000 | 12,775,000 | 11,024,000 | 10,605,000 | 8,509,000 | 7,146,000 | ||||||||||||||||
other income | 894,000 | 6,757,000 | -2,035,000 | -4,045,000 | -3,901,000 | 252,000 | 2,412,000 | 1,617,000 | -1,214,000 | -2,250,000 | 1,889,000 | -1,357,000 | -1,299,000 | 1,311,000 | -2,582,000 | 2,526,000 | 199,000 | 19,000 | 76,750 | 67,000 | 146,000 | |||||
income before income taxes | 87,105,000 | 81,390,000 | 55,704,000 | 57,118,000 | 57,838,000 | 52,769,000 | 30,102,000 | 42,424,000 | 40,703,000 | 41,686,000 | 25,909,000 | 30,717,000 | 18,672,000 | 14,669,000 | 17,284,000 | 17,408,000 | 17,301,000 | 19,666,000 | 15,235,000 | 23,178,000 | 19,428,000 | 20,012,000 | 849,000 | 1,627,000 | -168,911,000 | -52,098,000 |
income tax expense | -29,862,000 | -33,435,000 | -13,830,000 | -14,149,000 | -4,894,000 | -3,498,000 | -9,098,000 | -15,691,000 | -12,555,000 | -16,355,000 | -2,821,000 | -6,372,000 | -1,949,000 | |||||||||||||
net income | 57,243,000 | 47,955,000 | 39,304,000 | 361,752,000 | 44,008,000 | 38,620,000 | 37,944,000 | 42,691,000 | 35,809,000 | 38,188,000 | 80,293,000 | 15,026,000 | 10,526,000 | 2,114,000 | 929,000 | 14,587,000 | 23,641,000 | 13,294,000 | 26,954,000 | 18,416,000 | 17,479,000 | 12,865,000 | 46,702,000 | 1,763,000 | -417,334,000 | -49,155,000 |
yoy | 30.07% | 24.17% | 3.58% | 747.37% | 22.90% | 1.13% | -52.74% | 184.11% | 240.20% | 1706.43% | 8542.95% | 3.01% | -55.48% | -84.10% | -96.55% | -20.79% | 35.25% | 3.33% | -42.29% | 944.58% | -104.19% | -126.17% | ||||
qoq | 19.37% | 22.01% | -89.14% | 722.01% | 13.95% | 1.78% | -11.12% | 19.22% | -6.23% | -52.44% | 434.36% | 42.75% | 397.92% | 127.56% | -93.63% | -38.30% | 77.83% | -50.68% | 46.36% | 5.36% | 35.86% | -72.45% | 2549.01% | -100.42% | 749.02% | |
net income margin % | 11.59% | 10.05% | 8.83% | 82.94% | 10.52% | 9.67% | 9.96% | 11.69% | 10.18% | 11.47% | 25.53% | 5.05% | 3.77% | 0.79% | 0.37% | 6.06% | 10.44% | 6.34% | 13.72% | 10.07% | 10.37% | 8.27% | 31.02% | 1.23% | -322.57% | -40.11% |
net income per share | ||||||||||||||||||||||||||
basic | 0.19 | 0.16 | 0.13 | 1.21 | 0.15 | 0.13 | 0.13 | 0.14 | 0.12 | 0.13 | 0.28 | 0.05 | 0.04 | 0.01 | 0.05 | 0.08 | 0.05 | 0.1 | 0.07 | 0.06 | 0.05 | -0.445 | 0.01 | |||
diluted | 0.19 | 0.16 | 0.12 | 1.19 | 0.15 | 0.13 | 0.13 | 0.14 | 0.12 | 0.13 | 0.27 | 0.05 | 0.04 | 0.01 | 0.05 | 0.08 | 0.05 | 0.09 | 0.06 | 0.06 | 0.05 | -0.445 | 0.01 | |||
weighted-average shares outstanding: | ||||||||||||||||||||||||||
basic | 301,558 | 300,153 | 298,384 | 298,646 | 298,089 | 297,358 | 294,051 | 294,869 | 293,654 | 291,325 | 287,700 | 287,957 | 287,190 | 286,203 | 284,161 | 284,722 | 283,923 | 282,661 | 280,469 | 281,010 | 280,077 | 279,069 | 277,926 | |||
diluted | 304,303 | 304,160 | 303,602 | 303,467 | 301,373 | 300,966 | 299,280 | 299,246 | 297,794 | 296,387 | 291,617 | 291,228 | 290,601 | 290,024 | 290,903 | 291,845 | 291,177 | 288,988 | 286,509 | 286,427 | 286,252 | 284,309 | 280,156 | |||
other expense | -1,536,250 | -2,072,000 | -2,038,000 | -3,075,000 | ||||||||||||||||||||||
income tax benefit | -16,400,000 | 304,634,000 | 7,842,000 | 267,000 | -8,146,000 | 6,340,000 | 11,719,000 | -4,762,000 | -7,147,000 | 45,853,000 | 136,000 | -248,423,000 | 2,943,000 | |||||||||||||
restructuring and other | -250 | -1,000 | -1,000 | 1,000 | 156,000 | -5,000 | -10,000 | -1,000 | 26,000 | 17,000 | -2,000 | 46,000 | -21,000 | -1,000 | 199,000 | 779,000 | 115,000 | |||||||||
license | 2,000 | 2,000 | 50,000 | 109,000 | 257,000 | 442,000 | 638,000 | 2,262,000 | 3,895,000 | 2,745,000 | 3,784,000 | |||||||||||||||
interest expense | 4,066,000 | -4,787,000 | -513,000 | -2,175,000 | -2,234,000 | -2,450,000 | -2,651,000 | -2,857,000 | -3,035,000 | -3,455,000 | -3,602,000 | -4,113,000 | -9,928,750 | -5,995,000 | -14,534,000 | -19,186,000 | ||||||||||
net income per share | ||||||||||||||||||||||||||
basic and diluted | -1.58 | -0.21 | ||||||||||||||||||||||||
weighted-average shares outstanding: | ||||||||||||||||||||||||||
basic and diluted | 264,127 | 237,693,127 | ||||||||||||||||||||||||
revenues: | ||||||||||||||||||||||||||
subscriptions | 108,128,000 | |||||||||||||||||||||||||
services | 10,638,000 | |||||||||||||||||||||||||
cost of revenues: | ||||||||||||||||||||||||||
cost of subscriptions | 16,177,000 | |||||||||||||||||||||||||
cost of services | 8,809,000 | |||||||||||||||||||||||||
total cost of revenues | 29,543,000 | |||||||||||||||||||||||||
other | 94,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||
cash and cash equivalents | 1,225,023,000 | 1,247,381,000 | 1,017,039,000 | 907,482,000 | 907,177,000 | 930,315,000 | 778,983,000 | 782,649,000 | 701,524,000 | 700,703,000 | 555,348,000 | 422,451,000 | 563,430,000 | 571,345,000 | 462,967,000 | 408,723,000 | 370,319,000 | 387,218,000 | 324,962,000 | 299,505,000 | 248,437,000 | 250,377,000 | 213,170,000 | 188,555,000 | 211,696,000 | 57,453,000 |
short-term investments | 89,637,000 | 99,013,000 | 96,189,000 | 100,225,000 | 97,834,000 | 82,210,000 | 57,891,000 | |||||||||||||||||||
accounts receivable | 315,044,000 | 292,086,000 | 624,437,000 | 391,578,000 | 303,341,000 | 244,996,000 | 602,739,000 | 361,653,000 | 262,733,000 | 238,275,000 | 442,518,000 | 304,411,000 | 185,728,000 | 191,836,000 | 350,666,000 | 264,293,000 | 149,801,000 | 134,003,000 | 242,079,000 | 200,849,000 | 110,251,000 | 93,763,000 | 157,058,000 | 166,481,000 | 85,602,000 | 82,380,000 |
deferred commissions, current | 121,948,000 | 112,430,000 | 109,895,000 | 102,811,000 | 106,554,000 | 99,478,000 | 98,935,000 | 90,059,000 | 84,181,000 | 83,007,000 | 83,029,000 | 71,001,000 | 62,861,000 | 61,182,000 | 62,601,000 | 57,978,000 | 52,525,000 | 50,987,000 | 48,986,000 | 45,645,000 | 41,190,000 | 39,080,000 | 38,509,000 | 36,343,000 | 35,094,000 | 29,367,000 |
prepaid expenses and other current assets | 86,517,000 | 100,909,000 | 83,901,000 | 73,130,000 | 68,672,000 | 67,442,000 | 66,749,000 | 52,301,000 | 53,148,000 | 52,443,000 | 37,289,000 | 33,034,000 | 39,259,000 | 35,439,000 | 72,188,000 | 81,326,000 | 80,065,000 | 65,838,000 | 64,255,000 | 28,505,000 | 61,261,000 | 58,716,000 | 61,188,000 | 20,065,000 | 23,166,000 | 21,055,000 |
total current assets | 1,838,169,000 | 1,851,819,000 | 1,931,461,000 | 1,575,226,000 | 1,483,578,000 | 1,424,441,000 | 1,605,297,000 | 1,286,662,000 | 1,101,586,000 | 1,074,428,000 | 1,118,184,000 | 830,897,000 | 851,278,000 | 859,802,000 | 948,422,000 | 812,320,000 | 652,710,000 | 638,046,000 | 680,282,000 | 574,504,000 | 461,139,000 | 441,936,000 | 469,925,000 | 411,444,000 | 355,558,000 | 190,255,000 |
long-term investments | 54,538,000 | 50,641,000 | 51,648,000 | 46,260,000 | 48,312,000 | 54,711,000 | 46,350,000 | |||||||||||||||||||
property and equipment | 66,084,000 | 66,002,000 | 61,522,000 | 49,426,000 | 52,649,000 | 51,212,000 | 53,325,000 | 49,408,000 | 46,946,000 | 54,382,000 | 53,576,000 | 50,528,000 | 45,717,000 | 45,782,000 | 45,271,000 | 41,984,000 | 40,197,000 | 37,841,000 | 36,916,000 | 35,384,000 | 33,920,000 | 33,673,000 | 31,508,000 | 28,030,000 | 24,664,000 | 20,282,000 |
operating lease right-of-use assets | 78,143,000 | 79,214,000 | 66,666,000 | 70,957,000 | 71,480,000 | 65,895,000 | 67,367,000 | 71,226,000 | 68,730,000 | 61,374,000 | 53,369,000 | 59,306,000 | 60,473,000 | |||||||||||||
goodwill | 1,344,006,000 | 1,343,839,000 | 1,336,435,000 | 1,335,386,000 | 1,337,205,000 | 1,334,954,000 | 1,335,494,000 | 1,312,691,000 | 1,309,549,000 | 1,282,134,000 | 1,281,812,000 | 1,281,507,000 | 1,279,535,000 | 1,280,511,000 | 1,281,876,000 | 1,281,764,000 | 1,282,631,000 | 1,275,133,000 | 1,271,195,000 | 1,272,574,000 | 1,271,602,000 | 1,270,986,000 | 1,270,733,000 | 1,270,650,000 | 1,270,163,000 | 1,270,485,000 |
intangible assets | 24,055,000 | 25,460,000 | 25,534,000 | 23,351,000 | 31,701,000 | 41,159,000 | 50,995,000 | |||||||||||||||||||
deferred tax assets | 523,479,000 | 527,791,000 | 529,550,000 | 514,838,000 | 177,714,000 | 160,458,000 | 138,836,000 | 129,119,000 | 113,827,000 | 99,068,000 | 79,822,000 | 23,726,000 | 24,958,000 | 26,368,000 | 28,106,000 | 16,390,000 | 16,492,000 | 17,012,000 | 16,811,000 | 25,259,000 | 24,449,000 | 21,181,000 | 20,460,000 | 10,714,000 | 10,806,000 | 10,781,000 |
deferred commissions, non-current | 111,943,000 | 95,630,000 | 95,297,000 | 88,237,000 | 95,187,000 | 89,441,000 | 93,310,000 | 79,724,000 | 74,580,000 | 78,053,000 | 86,232,000 | 69,150,000 | 60,292,000 | 59,245,000 | 63,435,000 | 58,086,000 | 50,766,000 | 50,001,000 | 48,638,000 | 43,575,000 | 38,074,000 | 37,778,000 | 39,736,000 | 36,727,000 | 26,154,000 | 30,617,000 |
other assets | 41,316,000 | 40,539,000 | 40,752,000 | 35,715,000 | 32,350,000 | 29,806,000 | 24,782,000 | 21,596,000 | 16,161,000 | 14,106,000 | 14,048,000 | 15,268,000 | 14,451,000 | 10,564,000 | 9,615,000 | 10,003,000 | 11,114,000 | 9,735,000 | 9,933,000 | 8,850,000 | 8,616,000 | 8,350,000 | 8,126,000 | 8,981,000 | 8,117,000 | 8,765,000 |
total assets | 4,081,733,000 | 4,080,935,000 | 4,139,678,000 | 3,735,105,000 | 3,329,653,000 | 3,257,662,000 | 3,409,779,000 | 2,999,213,000 | 2,782,160,000 | 2,727,312,000 | 2,765,347,000 | 2,413,879,000 | 2,421,985,000 | 2,430,649,000 | 2,541,310,000 | 2,397,761,000 | 2,242,897,000 | 2,214,099,000 | 2,256,218,000 | 2,166,558,000 | 2,056,160,000 | 2,046,830,000 | 2,042,080,000 | 1,988,307,000 | 1,932,822,000 | 1,775,583,000 |
liabilities and shareholders' equity | ||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||
accounts payable | 21,617,000 | 7,989,000 | 27,286,000 | 8,552,000 | 17,298,000 | 3,895,000 | 21,410,000 | 13,230,000 | 15,842,000 | 6,065,000 | 21,953,000 | 14,687,000 | 4,587,000 | 4,795,000 | 22,715,000 | 22,256,000 | 16,013,000 | 3,431,000 | 9,621,000 | 12,146,000 | 8,185,000 | 3,767,000 | 11,112,000 | 10,832,000 | 10,532,000 | 4,702,000 |
accrued expenses, current | 230,030,000 | 207,023,000 | 252,503,000 | 213,130,000 | 208,825,000 | 169,899,000 | 233,675,000 | 171,929,000 | 146,775,000 | 156,146,000 | 188,380,000 | 154,081,000 | 129,976,000 | 114,214,000 | 141,556,000 | 116,154,000 | 105,423,000 | 98,955,000 | 119,527,000 | 104,788,000 | 84,498,000 | 74,907,000 | 93,728,000 | 86,194,000 | 78,704,000 | 51,748,000 |
deferred revenue, current | 889,957,000 | 1,002,189,000 | 1,087,518,000 | 812,892,000 | 806,171,000 | 862,084,000 | 987,953,000 | 757,141,000 | 677,837,000 | 721,817,000 | 811,058,000 | 647,259,000 | 561,474,000 | 617,969,000 | 688,554,000 | 563,045,000 | 461,443,000 | 486,066,000 | 509,272,000 | 424,001,000 | 349,541,000 | 352,803,000 | 384,060,000 | 352,207,000 | 291,857,000 | 281,977,000 |
operating lease liabilities, current | 16,980,000 | 15,316,000 | 13,979,000 | 13,995,000 | 15,606,000 | 15,350,000 | 15,513,000 | 16,288,000 | 15,912,000 | 15,925,000 | 15,652,000 | 14,990,000 | 12,876,000 | 12,402,000 | 12,774,000 | 11,700,000 | 11,214,000 | 10,420,000 | 9,491,000 | 9,368,000 | 9,311,000 | 9,712,000 | ||||
total current liabilities | 1,158,584,000 | 1,232,517,000 | 1,381,286,000 | 1,048,569,000 | 1,047,900,000 | 1,051,228,000 | 1,258,551,000 | 958,588,000 | 856,366,000 | 899,953,000 | 1,037,043,000 | 831,017,000 | 708,913,000 | 749,380,000 | 865,599,000 | 713,155,000 | 594,093,000 | 598,872,000 | 647,911,000 | 550,303,000 | 451,535,000 | 441,189,000 | 488,900,000 | 449,233,000 | 381,093,000 | 938,630,000 |
deferred revenue, non-current | 42,975,000 | 47,186,000 | 50,989,000 | 54,940,000 | 54,878,000 | 52,178,000 | 62,308,000 | 38,508,000 | 33,586,000 | 28,710,000 | 34,423,000 | 25,778,000 | 16,950,000 | 16,352,000 | 25,783,000 | 30,937,000 | 22,630,000 | 33,683,000 | 47,504,000 | 47,849,000 | 44,647,000 | 49,580,000 | 60,711,000 | 79,111,000 | 77,630,000 | 93,596,000 |
accrued expenses, non-current | 30,865,000 | 30,074,000 | 24,452,000 | 16,533,000 | 16,926,000 | 19,572,000 | 18,404,000 | 29,918,000 | 30,392,000 | 30,723,000 | 29,212,000 | 30,449,000 | 25,243,000 | 28,182,000 | 19,409,000 | 20,046,000 | 16,533,000 | 16,349,000 | 16,072,000 | 18,408,000 | 18,308,000 | 18,062,000 | 20,987,000 | 18,048,000 | 18,028,000 | 139,473,000 |
operating lease liabilities, non-current | 69,844,000 | 72,432,000 | 61,384,000 | 61,216,000 | 64,997,000 | 66,055,000 | 54,013,000 | 58,002,000 | 59,857,000 | 62,692,000 | 59,520,000 | 59,589,000 | 54,255,000 | 46,682,000 | 52,070,000 | 52,976,000 | 54,371,000 | 42,823,000 | 38,203,000 | 38,829,000 | 37,817,000 | 38,970,000 | ||||
deferred tax liabilities | 871,000 | 440,000 | 419,000 | 563,000 | 996,000 | 994,000 | 1,013,000 | 321,000 | 305,000 | 302,000 | 280,000 | 23,000 | 85,000 | 1,217,000 | 1,361,000 | 1,014,000 | 1,014,000 | 2,489,000 | 38,721,000 | |||||||
total liabilities | 1,303,139,000 | 1,382,649,000 | 1,518,530,000 | 1,181,821,000 | 1,185,697,000 | 1,190,027,000 | 1,394,289,000 | 1,085,337,000 | 980,506,000 | 1,022,380,000 | 1,160,478,000 | 946,856,000 | 1,020,308,000 | 1,085,023,000 | 1,236,864,000 | 1,121,746,000 | 1,021,895,000 | 1,055,145,000 | 1,142,617,000 | 1,106,816,000 | 1,033,248,000 | 1,058,253,000 | 1,080,583,000 | 1,089,117,000 | 1,046,540,000 | 2,213,212,000 |
commitments and contingencies | ||||||||||||||||||||||||||
shareholders' equity: | ||||||||||||||||||||||||||
common shares, 0.001 par value... | 302,000 | 302,000 | 300,000 | 299,000 | 299,000 | 298,000 | 297,000 | 296,000 | 294,000 | 293,000 | 290,000 | 289,000 | 288,000 | 287,000 | 286,000 | 286,000 | 285,000 | 284,000 | 283,000 | 281,000 | 281,000 | 281,000 | 281,000 | 281,000 | 281,000 | |
additional paid-in capital | 2,424,121,000 | 2,399,604,000 | 2,370,563,000 | 2,340,470,000 | 2,295,796,000 | 2,263,195,000 | 2,249,349,000 | 2,186,766,000 | 2,114,472,000 | 2,053,086,000 | 1,989,797,000 | 1,929,940,000 | 1,874,488,000 | 1,830,782,000 | 1,792,197,000 | 1,762,789,000 | 1,723,056,000 | 1,687,044,000 | 1,653,328,000 | 1,632,446,000 | 1,609,246,000 | 1,589,598,000 | 1,573,347,000 | 1,560,559,000 | 1,547,051,000 | -184,599,000 |
retained earnings | 390,125,000 | 332,882,000 | 284,927,000 | 245,623,000 | ||||||||||||||||||||||
accumulated other comprehensive loss | -35,954,000 | -34,502,000 | -34,642,000 | -33,108,000 | -36,010,000 | -35,721,000 | -35,399,000 | -36,485,000 | -33,720,000 | -33,246,000 | -31,829,000 | -29,524,000 | -24,391,000 | -26,209,000 | -26,689,000 | -24,783,000 | -25,475,000 | -27,869,000 | -26,211,000 | -28,025,000 | -23,239,000 | -20,447,000 | -18,105,000 | -20,922,000 | -18,559,000 | |
total shareholders' equity | 2,778,594,000 | 2,698,286,000 | 2,621,148,000 | 2,553,284,000 | 2,143,956,000 | 2,067,635,000 | 2,015,490,000 | 1,913,876,000 | 1,801,654,000 | 1,704,932,000 | 1,604,869,000 | 1,467,023,000 | 1,401,677,000 | 1,345,626,000 | 1,304,446,000 | 1,276,015,000 | 1,221,002,000 | 1,158,954,000 | 1,113,601,000 | 1,059,742,000 | 1,022,912,000 | 988,577,000 | ||||
total liabilities and shareholders' equity | 4,081,733,000 | 4,080,935,000 | 4,139,678,000 | 3,735,105,000 | 3,329,653,000 | 3,257,662,000 | 3,409,779,000 | 2,999,213,000 | 2,782,160,000 | 2,727,312,000 | 2,765,347,000 | 2,413,879,000 | 2,421,985,000 | 2,430,649,000 | 2,541,310,000 | 2,397,761,000 | 2,242,897,000 | 2,214,099,000 | 2,256,218,000 | 2,166,558,000 | 2,056,160,000 | 2,046,830,000 | ||||
operating lease right-of-use asset | 67,479,000 | 61,390,000 | 68,074,000 | 58,849,000 | 48,338,000 | 42,959,000 | 43,530,000 | 42,571,000 | 44,209,000 | |||||||||||||||||
accumulated deficit | -116,129,000 | -160,137,000 | -198,757,000 | -236,701,000 | -279,392,000 | -315,201,000 | -353,389,000 | -433,682,000 | -448,708,000 | -459,234,000 | -461,348,000 | -462,277,000 | -476,864,000 | -500,505,000 | -513,799,000 | -544,960,000 | -563,376,000 | -580,855,000 | -594,026,000 | -640,728,000 | -642,491,000 | -225,157,000 | ||||
other intangible assets | 54,118,000 | 52,144,000 | 53,915,000 | 63,599,000 | 74,073,000 | 84,380,000 | 95,008,000 | 105,736,000 | 117,908,000 | 128,514,000 | 137,993,000 | 149,484,000 | 162,882,000 | 175,789,000 | 188,717,000 | 201,592,000 | 215,784,000 | 229,880,000 | 244,398,000 | |||||||
long-term debt | 214,947,000 | 244,427,000 | 273,918,000 | 303,415,000 | 332,907,000 | 362,404,000 | 391,913,000 | 451,427,000 | 480,941,000 | 510,452,000 | 509,985,000 | 540,236,000 | 569,789,000 | 1,002,792,000 | ||||||||||||
liabilities and shareholders' equity / member's deficit | ||||||||||||||||||||||||||
current portion of long-term debt | ||||||||||||||||||||||||||
payable to related party | 600,203,000 | |||||||||||||||||||||||||
shareholders' equity / member's deficit: | ||||||||||||||||||||||||||
common units, no par value, 100 units authorized, issued and outstanding at march 31, 2019 | ||||||||||||||||||||||||||
total shareholders' equity / member's deficit | 961,497,000 | 899,190,000 | 886,282,000 | |||||||||||||||||||||||
total liabilities and shareholders' equity / member's deficit | 2,042,080,000 | 1,988,307,000 | 1,932,822,000 | |||||||||||||||||||||||
receivable from related party | 5,977,000 | 7,480,000 | ||||||||||||||||||||||||
liabilities and member's deficit | ||||||||||||||||||||||||||
member's deficit: | ||||||||||||||||||||||||||
common units, no par value, 100 units authorized, issued and outstanding | ||||||||||||||||||||||||||
accumulated other comprehensive | -27,873,000 | |||||||||||||||||||||||||
total member's deficit | -437,629,000 | |||||||||||||||||||||||||
total liabilities and member's deficit | 1,775,583,000 | |||||||||||||||||||||||||
revenues: | ||||||||||||||||||||||||||
subscriptions | 108,128,000 | |||||||||||||||||||||||||
license | 3,784,000 | |||||||||||||||||||||||||
services | 10,638,000 | |||||||||||||||||||||||||
total revenue | 122,550,000 | |||||||||||||||||||||||||
cost of revenues: | ||||||||||||||||||||||||||
cost of subscriptions | 16,177,000 | |||||||||||||||||||||||||
cost of services | 8,809,000 | |||||||||||||||||||||||||
amortization of acquired technology | 4,557,000 | |||||||||||||||||||||||||
total cost of revenues | 29,543,000 | |||||||||||||||||||||||||
gross profit | 93,007,000 | |||||||||||||||||||||||||
operating expenses: | ||||||||||||||||||||||||||
research and development | 25,659,000 | |||||||||||||||||||||||||
sales and marketing | 58,215,000 | |||||||||||||||||||||||||
general and administrative | 31,882,000 | |||||||||||||||||||||||||
amortization of other intangibles | 10,142,000 | |||||||||||||||||||||||||
restructuring and other | 115,000 | |||||||||||||||||||||||||
total operating expenses | 126,013,000 | |||||||||||||||||||||||||
income from operations | -33,006,000 | |||||||||||||||||||||||||
interest expense | -19,186,000 | |||||||||||||||||||||||||
other | 94,000 | |||||||||||||||||||||||||
income before income taxes | -52,098,000 | |||||||||||||||||||||||||
income tax benefit | 2,943,000 | |||||||||||||||||||||||||
net income | -49,155,000 | |||||||||||||||||||||||||
net income per share | ||||||||||||||||||||||||||
basic and diluted | -210 | |||||||||||||||||||||||||
weighted-average shares outstanding: |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||||||
net income | 57,243,000 | 47,955,000 | 39,304,000 | 361,752,000 | 44,008,000 | 38,620,000 | 37,944,000 | 42,691,000 | 35,809,000 | 38,188,000 | 80,293,000 | 15,026,000 | 10,526,000 | 2,114,000 | 929,000 | 14,587,000 | 23,641,000 | 13,294,000 | 26,954,000 | 18,416,000 | 17,479,000 | 12,865,000 | ||||
adjustments to reconcile net income to cash from operations: | ||||||||||||||||||||||||||
depreciation | 4,313,000 | 5,095,000 | 5,385,000 | 5,216,000 | 4,330,000 | 4,305,000 | 3,718,000 | 3,891,000 | 3,974,000 | 3,916,000 | 3,529,000 | 3,266,000 | 2,948,000 | 2,798,000 | 2,850,000 | 2,739,000 | 2,574,000 | 2,475,000 | 2,433,000 | 2,792,000 | 2,207,000 | 1,590,000 | 1,887,000 | 2,006,000 | 1,937,000 | 2,034,000 |
amortization | 1,390,000 | 1,366,000 | 1,265,000 | 8,247,000 | 9,684,000 | 9,672,000 | 10,374,000 | 9,860,000 | 9,526,000 | 9,681,000 | 10,504,000 | 10,498,000 | 10,497,000 | 10,571,000 | 11,556,000 | 11,625,000 | 11,545,000 | 11,512,000 | 12,896,000 | 13,014,000 | 13,013,000 | 13,019,000 | 14,359,000 | 14,288,000 | 14,729,000 | 15,081,000 |
share-based compensation | 76,814,000 | 71,895,000 | 70,204,000 | 72,139,000 | 71,703,000 | 57,657,000 | 55,598,000 | 54,822,000 | 57,958,000 | 40,518,000 | 42,021,000 | 35,504,000 | 40,654,000 | 28,695,000 | 27,586,000 | 27,123,000 | 25,575,000 | 19,252,000 | 14,693,000 | 15,588,000 | 14,831,000 | 12,672,000 | 12,794,000 | 13,513,000 | 154,746,000 | 41,425,000 |
deferred income taxes | 5,144,000 | 3,750,000 | -14,147,000 | -339,736,000 | -16,410,000 | -22,649,000 | -10,336,000 | -14,413,000 | -15,839,000 | -19,327,000 | -12,435,000 | 31,000 | 5,000 | -2,000 | -4,022,000 | 146,000 | -2,985,000 | -175,000 | -13,590,000 | 2,880,000 | -39,689,000 | -8,877,000 | ||||
other | -989,000 | -7,051,000 | -2,100,000 | 1,002,000 | 1,532,000 | 1,601,000 | 4,200,000 | 3,997,000 | 3,173,000 | -154,000 | -4,183,000 | 687,000 | 1,736,000 | 2,748,000 | -1,386,000 | 1,865,000 | 1,801,000 | -794,000 | 3,085,000 | -2,042,000 | 336,000 | 466,000 | 1,816,000 | 623,000 | 3,180,000 | 510,000 |
net change in operating assets and liabilities: | ||||||||||||||||||||||||||
accounts receivable | -23,187,000 | 343,732,000 | -228,277,000 | -95,826,000 | -55,364,000 | 355,441,000 | -245,332,000 | -94,245,000 | -26,539,000 | 204,228,000 | -135,224,000 | -113,198,000 | 2,108,000 | 151,404,000 | -86,486,000 | -114,676,000 | -17,765,000 | 110,079,000 | -44,299,000 | -87,046,000 | -14,912,000 | 64,265,000 | 5,001,000 | -78,600,000 | -4,538,000 | 34,116,000 |
deferred commissions | -25,981,000 | 2,727,000 | -11,613,000 | 4,131,000 | -9,287,000 | 2,121,000 | -24,394,000 | -8,104,000 | 433,000 | 8,545,000 | -27,993,000 | -13,580,000 | -5,697,000 | 2,079,000 | -9,952,000 | -13,234,000 | -3,716,000 | -2,631,000 | -9,943,000 | -7,630,000 | -979,000 | 2,229,000 | -6,623,000 | -11,288,000 | -1,476,000 | -720,000 |
prepaid expenses and other assets | 12,985,000 | -8,840,000 | -15,020,000 | -7,500,000 | -6,009,000 | -8,064,000 | -19,964,000 | -4,528,000 | -6,483,000 | -16,426,000 | -2,863,000 | 4,488,000 | -7,968,000 | 33,096,000 | 9,400,000 | -1,052,000 | -15,003,000 | -1,453,000 | -20,251,000 | 30,864,000 | -5,219,000 | 275,000 | -39,045,000 | 196,000 | 229,000 | -1,117,000 |
accounts payable and accrued expenses | 39,355,000 | -73,110,000 | 59,142,000 | 2,871,000 | 47,786,000 | -78,265,000 | 61,918,000 | 9,224,000 | 6,395,000 | -39,641,000 | 39,315,000 | 33,793,000 | 15,387,000 | -29,815,000 | 24,959,000 | 20,105,000 | 18,258,000 | -27,376,000 | 11,701,000 | 22,753,000 | 15,350,000 | -23,212,000 | 14,878,000 | 10,307,000 | 35,595,000 | -8,365,000 |
operating leases | 141,000 | 605,000 | -665,000 | -1,031,000 | -326,000 | 1,791,000 | -227,000 | -80,000 | 1,056,000 | 277,000 | 1,222,000 | -80,000 | 186,000 | -142,000 | 670,000 | 282,000 | 270,000 | 131,000 | 132,000 | 76,000 | 212,000 | 311,000 | ||||
deferred revenue | -115,211,000 | -118,432,000 | 259,312,000 | 30,973,000 | -67,997,000 | -131,489,000 | 258,173,000 | 72,542,000 | -32,586,000 | -95,902,000 | 167,340,000 | 79,633,000 | -40,979,000 | -60,450,000 | 120,614,000 | 111,449,000 | -28,889,000 | -41,015,000 | 92,492,000 | 66,785,000 | -15,492,000 | -47,297,000 | 26,462,000 | 55,444,000 | 226,000 | 9,235,000 |
net cash from operating activities | 32,017,000 | 269,692,000 | 162,790,000 | 42,238,000 | 23,650,000 | 230,741,000 | 131,672,000 | 75,657,000 | 36,877,000 | 133,903,000 | 120,427,000 | 61,962,000 | 29,398,000 | 143,098,000 | 88,305,000 | 60,844,000 | 18,296,000 | 83,472,000 | 85,871,000 | 73,716,000 | 23,841,000 | 37,008,000 | 64,641,000 | 11,132,000 | -252,395,000 | 34,167,000 |
capital expenditures | -4,187,000 | -7,676,000 | -14,566,000 | -4,669,000 | -3,512,000 | -3,359,000 | -11,023,000 | -3,645,000 | -2,750,000 | -10,267,000 | -5,915,000 | -4,388,000 | -4,331,000 | -6,906,000 | -5,927,000 | -4,156,000 | -4,658,000 | -5,208,000 | -2,532,000 | -2,035,000 | -4,549,000 | -4,741,000 | -5,550,000 | -5,838,000 | -4,484,000 | |
free cash flows | 27,830,000 | 262,016,000 | 148,224,000 | 37,569,000 | 20,138,000 | 227,382,000 | 120,649,000 | 72,012,000 | 34,127,000 | 123,636,000 | 114,512,000 | 57,574,000 | 25,067,000 | 136,192,000 | 82,378,000 | 56,688,000 | 13,638,000 | 80,663,000 | 71,184,000 | 21,806,000 | 32,459,000 | 59,900,000 | 5,582,000 | -258,233,000 | 29,683,000 | |
cash flows from investing activities: | ||||||||||||||||||||||||||
purchase of property and equipment | -4,187,000 | -7,482,000 | -14,566,000 | -4,669,000 | -3,512,000 | -3,359,000 | -9,797,000 | -3,645,000 | -2,750,000 | -10,267,000 | -5,915,000 | -4,388,000 | -4,331,000 | -6,906,000 | -5,927,000 | -4,156,000 | -4,658,000 | -2,954,000 | -5,208,000 | -2,468,000 | -1,982,000 | -4,418,000 | -4,578,000 | -5,385,000 | -5,607,000 | -4,151,000 |
capitalized software additions | 0 | -194,000 | -613,000 | -64,000 | -53,000 | -131,000 | -163,000 | -165,000 | -231,000 | -333,000 | ||||||||||||||||
acquisition of a business, net of cash acquired | 0 | 0 | -100,000 | 94,000 | ||||||||||||||||||||||
purchases of investments | -34,940,000 | -28,824,000 | -37,566,000 | -27,965,000 | -39,138,000 | -40,886,000 | ||||||||||||||||||||
proceeds from sales and maturities of investments | 41,070,000 | 28,052,000 | 27,770,000 | 31,625,000 | 8,750,000 | |||||||||||||||||||||
net cash from investing activities | 1,943,000 | -8,448,000 | -17,831,000 | -4,864,000 | -11,025,000 | -35,595,000 | -139,434,000 | -8,206,000 | -35,141,000 | -10,267,000 | -5,915,000 | -4,388,000 | -4,331,000 | -6,906,000 | -5,927,000 | -4,347,000 | -14,119,000 | -6,497,000 | -4,763,000 | -2,532,000 | -2,035,000 | -4,549,000 | -4,741,000 | -5,550,000 | -5,838,000 | -4,484,000 |
cash flows from financing activities: | ||||||||||||||||||||||||||
proceeds from employee stock purchase plan | 0 | 11,871,000 | 0 | 10,770,000 | 0 | 10,389,000 | 0 | 9,888,000 | 0 | 9,584,000 | 0 | 9,179,000 | 0 | 8,627,000 | 0 | 7,320,000 | 0 | 6,593,000 | 0 | 5,603,000 | 0 | 3,592,000 | ||||
proceeds from exercise of stock options | 1,323,000 | 2,415,000 | 6,092,000 | 6,130,000 | 4,558,000 | 4,215,000 | 6,986,000 | 7,586,000 | 3,429,000 | 13,190,000 | 17,837,000 | 10,770,000 | 3,057,000 | 1,275,000 | 1,839,000 | 5,311,000 | 10,453,000 | 7,886,000 | 6,203,000 | 2,020,000 | ||||||
repurchases of common stock | -50,003,000 | -45,031,000 | -42,518,000 | -39,993,000 | -41,551,000 | -48,556,000 | ||||||||||||||||||||
taxes paid related to net share settlement of equity awards | -5,991,000 | -10,347,000 | -2,620,000 | -4,372,000 | -3,660,000 | -8,306,000 | ||||||||||||||||||||
net cash from financing activities | -55,223,000 | -43,854,000 | -39,598,000 | -27,465,000 | -41,757,000 | -42,810,000 | 6,986,000 | 17,474,000 | 3,429,000 | 22,774,000 | 17,837,000 | -203,125,000 | -26,947,000 | -20,109,000 | -28,176,000 | -17,390,000 | -19,563,000 | -15,535,000 | -53,810,000 | -22,388,000 | -25,183,000 | 3,579,000 | -30,872,000 | -30,005,000 | 414,016,000 | -23,747,000 |
effect of exchange rates on cash and cash equivalents | -1,095,000 | 12,952,000 | 4,196,000 | -9,604,000 | 5,994,000 | -1,004,000 | -2,890,000 | -3,800,000 | -4,344,000 | -1,055,000 | 548,000 | 4,572,000 | -6,035,000 | -7,705,000 | 42,000 | -703,000 | -1,513,000 | 816,000 | -1,841,000 | 2,272,000 | 1,437,000 | 1,169,000 | -4,413,000 | 1,282,000 | -1,540,000 | 203,000 |
net increase in cash and cash equivalents | -22,358,000 | 230,342,000 | 109,557,000 | 305,000 | -23,138,000 | 151,332,000 | -3,666,000 | 81,125,000 | 821,000 | 145,355,000 | 132,897,000 | -140,979,000 | -7,915,000 | 108,378,000 | 54,244,000 | 38,404,000 | -16,899,000 | 62,256,000 | 25,457,000 | 51,068,000 | -1,940,000 | 37,207,000 | 24,615,000 | -23,141,000 | 154,243,000 | 6,139,000 |
cash and cash equivalents, beginning of period | 0 | 1,017,039,000 | 0 | 0 | 778,983,000 | 0 | 0 | 555,348,000 | 0 | 0 | 462,967,000 | 0 | 0 | 324,962,000 | 0 | 0 | 213,170,000 | 0 | 0 | 51,314,000 | ||||||
cash and cash equivalents, end of period | -22,358,000 | 1,247,381,000 | 305,000 | -23,138,000 | 930,315,000 | 81,125,000 | 821,000 | 700,703,000 | -140,979,000 | -7,915,000 | 571,345,000 | 38,404,000 | -16,899,000 | 387,218,000 | 51,068,000 | -1,940,000 | 250,377,000 | -23,141,000 | 154,243,000 | 57,453,000 | ||||||
supplemental cash flow data: | ||||||||||||||||||||||||||
cash paid for interest | 182,000 | 181,000 | 178,000 | 210,000 | 181,000 | 184,000 | 195,000 | 236,000 | 208,000 | 212,000 | 242,000 | 2,124,000 | 2,677,000 | 2,066,000 | 1,826,000 | 1,989,000 | 2,190,000 | 2,370,000 | 2,561,000 | 2,991,000 | 3,160,000 | 3,763,000 | 5,567,000 | 6,610,000 | 11,653,000 | 15,738,000 |
cash paid for tax | 29,423,000 | 30,548,000 | 28,892,000 | 30,534,000 | 24,918,000 | 3,028,000 | 5,403,000 | 12,418,000 | 10,127,000 | -1,573,000 | 4,209,000 | |||||||||||||||
payments of deferred consideration related to acquisition of a business | -2,210,000 | |||||||||||||||||||||||||
payments of deferred consideration related to capitalized software additions | -552,000 | -552,000 | 0 | -1,104,000 | -552,000 | |||||||||||||||||||||
loss on extinguishment of debt | 0 | |||||||||||||||||||||||||
acquisition of businesses, net of cash acquired | 0 | -191,000 | ||||||||||||||||||||||||
sales and maturities of investments | ||||||||||||||||||||||||||
repayment of term loans | 0 | -221,125,000 | -30,000,000 | -30,000,000 | -30,000,000 | -30,000,000 | -30,000,000 | -30,000,000 | -60,000,000 | -30,000,000 | -30,000,000 | -30,000,000 | -436,189,000 | -19,000,000 | ||||||||||||
debt issuance costs | 0 | |||||||||||||||||||||||||
equity repurchases | 0 | 0 | -4,000 | -11,000 | -15,000 | -21,000 | -16,000 | -14,000 | -13,000 | -11,000 | -12,000 | -13,000 | -6,000 | -5,000 | -92,000 | -53,000 | ||||||||||
cash and cash equivalents, beginning of year | ||||||||||||||||||||||||||
cash and cash equivalents, end of year | ||||||||||||||||||||||||||
cash paid for (received from) tax | 19,954,000 | 28,653,000 | 13,151,000 | 11,345,000 | 2,052,000 | |||||||||||||||||||||
non-cash investing and financing activities: | ||||||||||||||||||||||||||
capitalized software additions in accounts payable and accrued expenses | -613,000 | |||||||||||||||||||||||||
cash paid for tax (received from) | ||||||||||||||||||||||||||
capitalized software costs | ||||||||||||||||||||||||||
cash (received from) paid for tax | 6,024,000 | 3,232,000 | 7,975,000 | -31,542,000 | 7,135,000 | |||||||||||||||||||||
proceeds from initial public offering, net of underwriters' discounts and commissions | 0 | 0 | ||||||||||||||||||||||||
settlement of deferred offering costs | 0 | |||||||||||||||||||||||||
contribution for tax associated with reorganization | 0 | 0 | ||||||||||||||||||||||||
installments related to acquisitions | ||||||||||||||||||||||||||
noncash investing and financing activities: | ||||||||||||||||||||||||||
reclassification of related party payable upon reorganization | 1,201,244,000 | 0 | ||||||||||||||||||||||||
modification of miu plan awards | ||||||||||||||||||||||||||
acquisition of business, net of cash acquired | -3,543,000 | |||||||||||||||||||||||||
proceeds from term loans | ||||||||||||||||||||||||||
payments to related parties | ||||||||||||||||||||||||||
transactions with related parties | ||||||||||||||||||||||||||
installments related to acquisition | 0 | 0 | -4,694,000 | |||||||||||||||||||||||
non-cash financing activities: | ||||||||||||||||||||||||||
acquisitions, net of cash acquired | ||||||||||||||||||||||||||
offering costs | ||||||||||||||||||||||||||
installments due related to acquisition | ||||||||||||||||||||||||||
net loss | 1,763,000 | -417,334,000 | -49,155,000 | |||||||||||||||||||||||
adjustments to reconcile net loss to cash from operations: |