v3.25.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net sales $ 603,633 $ 459,871
Cost of sales 237,894 201,243
Gross margin 365,739 258,628
Operating expenses:    
Selling, general and administrative 223,509 151,075
Research and development 151,023 91,097
Total operating expenses 374,532 242,172
(Loss) income from operations (8,793) 16,456
Interest income 10,604 12,130
Interest expense (7,821) (1,756)
Other income, net 114,401 139,066
Income before provision for income taxes 108,391 165,896
Provision for income taxes 20,411 32,544
Net income $ 87,980 $ 133,352
Net income per common and common equivalent shares:    
Basic (in dollars per share) $ 1.14 $ 1.77
Diluted (in dollars per share) $ 1.08 $ 1.73
Weighted average number of common and common equivalent shares outstanding:    
Basic (in shares) 76,890 75,355
Diluted (in shares) 81,484 77,132
Net income $ 87,980 $ 133,352
Net income 87,980 133,352
Foreign currency translation adjustments 358 (801)
Unrealized loss on available-for-sale investments (124) (106)
Comprehensive income 88,214 132,445
Products    
Net sales 340,896 270,424
Cost of sales 170,181 152,160
Services    
Net sales 262,737 189,447
Cost of sales $ 67,713 $ 49,083